Commercial banks profit up by 18pc

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Commercial banks profit up by 18pc

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Profit of major commercial banks has increased by 18 percent during the fiscal year 2010.

23 February,2011 12:12 pm

According to Top Line Research, 4 major commercial banks’ profit has surged by 18 percent during 2010 as compare with the last year. Profit earned by interests has increased by 8 percent. According to experts, the surge in profit was due to high interest rates and hopes of increase in income. On the other hand, the deposit fixed for business was not used totally. Difference between debit and credit remained at 7.4 percent.