Karachi: The Board of Directors of Security Investment Bank Limited convened on March 22, 2025, at the Madina City Mall, Karachi, to approve the financial results for the year ended December 31, 2023. The board recommended a final cash dividend of 15%, equivalent to PKR 1.5 per share, each having a face value of PKR 10.00. No bonus shares were declared.

The company will hold its Annual General Meeting in Islamabad on April 29, 2025, at 10:30 a.m. The share transfer books will be closed from April 22, 2025, to April 29, 2025. Transfer applications received by the close of business on April 21, 2025, at the Share Registrar's office, C and K Management Associates (Private) Limited in Karachi, will be processed in time for the meeting.

The financial statement reveals a mixed performance over the year. Income from financing activities reached PKR 42.27 million, an increase from PKR 26.03 million in the previous year. Return on securities, however, decreased significantly to PKR 18.80 million from PKR 52.87 million in 2023. Gains on the sale of investments also declined to PKR 14.96 million from PKR 44.29 million.

Profit on deposits with banks showed a moderate increase, rising to PKR 2.17 million from PKR 1.63 million. Other income experienced a marginal reduction, coming in at PKR 1.05 million compared to PKR 1.12 million in the previous year. Total income for the year was PKR 139.26 million, up from PKR 126.26 million.

Administrative expenses saw a substantial increase, amounting to PKR 56.18 million, up from PKR 38.09 million. Operating profit before taxation was PKR 83.08 million, compared to PKR 88.17 million in the previous year. Unrealized gains on the remeasurement of investments classified as fair value through profit or loss were recorded at PKR 5.20 million, significantly down from PKR 33.69 million.

Profit before taxation decreased to PKR 88.27 million from PKR 121.86 million. According to information available from the Pakistan Stock Exchange (PSX), the net profit after taxation for the year was PKR 77.43 million, compared to PKR 79.75 million in the previous year.

Earnings per share, both basic and diluted, were recorded at PKR 1.31, down from the previous year's PKR 1.35. The designated market category for Security Investment Bank Limited remains unchanged.