IslamicFinance.de

Islamic banking industry grew by nearly seven per cent during the second quarter of the calendar year 2013. The momentum in growth, however, started weakening due to increasing base, according to the Islamic Banking Bulletin of the State Bank of Pakistan. The report said the asset base of the industry reached Rs903 billion, registering year-on-year growth of 27pc, while deposits grew by 28pc to reach Rs771bn by the end of June 2013. Profit of the Islamic banking industry reached above Rs4.3bn by the end of June 2013, though lower compared to Rs5.9bn profit registered during June 2012, said the bulletin. During the quarter under review, non-performing financing (NPF) of Islamic banking industry witnessed a slight decline and was recorded Rs19.4bn compared to Rs19.5bn in the previous quarter.