KARACHI -  Standard Chartered Bank (Pakistan) has announced its results for third quarter and first nine months of 2016, declaring profit before tax (PBT) of Rs 12.1 billion.

The Bank delivered resilient financial performance despite margin compression due to lower interest rates. On the liabilities side, the bank’s total deposits grew by 9 percent since the start of this year. The continuous increase in low cost deposits has significantly supported the bank’s performance with current and savings accounts comprising 93 per cent of the deposit base.1