SCBPL 9MCY26 profit drops 21%

MG News | October 29, 2026 at 11:30 AM GMT+05:00

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October 29, 2026 (MLN): Standard Chartered Bank (Pakistan) Limited (PSX: SCBPL) reported a 21% decline in its net profit for the nine months ended September 30, 2026 (9MCY26), falling to Rs17.87bn compared to Rs22.55bn in the corresponding period last year.

Reflecting the compressed bottom line, basic and diluted earnings per share (EPS) for the nine-month period contracted 21% to Rs4.62 from Rs5.82 in 9MCY25.

For the third quarter (Q3CY26) alone, net profit edged up 2% to Rs6.09bn (EPS of Rs1.57) compared to Rs5.99bn (EPS of Rs1.55) recorded in Q3CY25.

The contraction in nine-month performance was primarily driven by a 15% decline in net mark-up/interest income, which settled at Rs40.61bn compared to Rs47.55bn in 9MCY25.

Mark-up/interest earned fell 18% to Rs56.78bn from Rs69.39bn, while mark-up/interest expensed decreased 26% to Rs16.17bn from Rs21.84bn.

Total non-mark-up/interest income also contracted 18% to Rs12.95bn against Rs15.77bn in 9MCY25, pressured by a net loss on securities of Rs207.74m (compared to a gain of Rs2.25bn in 9MCY25), lower fee and commission income of Rs4.31bn (down 29%), and a 62% decline in derivative income to Rs261.46m, despite foreign exchange income expanding 25% to Rs8.13bn.

Consequently, total income for the nine-month period fell 15% to Rs53.56bn from Rs63.32bn.

On the operational side, non-mark-up expenses remained tightly controlled, declining 1% to Rs17.61bn compared to Rs17.83bn in 9MCY25.

Operating expenses were virtually flat at Rs16.82bn (against Rs16.89bn), while Workers' Welfare Fund charges declined 16% to Rs789.42m and other charges stood at Rs1.23m. Due to lower top-line revenues, profit before credit loss allowance fell 21% to Rs35.95bn from Rs45.49bn.

The bank recorded a net reversal of credit loss allowance and write-offs of Rs1.17bn, up 93% from a net reversal of Rs608.87m booked in 9MCY25.

Profit before taxation dropped 19% to Rs37.12bn from Rs46.10bn. Following a lower taxation charge of Rs19.25bn (down 18% from Rs23.55bn), Standard Chartered Bank (Pakistan) Limited concluded the nine-month period with a net profit of Rs17.87bn.

STATEMENT OF PROFIT OR LOSS FOR NINE MONTHS ENDED SEPTEMBER 30, 2026 (Rs.000)
Description	2026	2025	change %
Mark-up / return / interest earned	56,783,273	69,388,756	-18.2%
Mark-up / return / interest expensed	(16,173,308)	(21,839,297)	-25.9%
Net mark-up / interest income	40,609,965	47,549,459	-14.6%
Fee and commission income	4,308,215	6,076,026	-29.1%
Dividend income	158,803	140,847	12.7%
Foreign exchange income	8,127,516	6,511,733	24.8%
Income from derivatives	261,464	695,335	-62.4%
Gain / (loss) on securities	(207,740)	2,245,469
Other income	304,197	104,021	192.4%
Total non mark-up / interest income	12,952,455	15,773,431	-17.9%
Total Income	53,562,420	63,322,890	-15.4%
Operating expenses	(16,821,985)	(16,891,471)	-0.4%
Workers welfare fund	(789,420)	(940,760)	-16.1%
Other charges	(1,227)	(2,290)	-46.4%
Total non mark-up / interest expenses	(17,612,632)	(17,834,521)	-1.2%
Profit before credit loss allowance	35,949,788	45,488,369	-21.0%
Credit loss allowance and write offs - net	1,174,386	608,867	92.9%
Profit before taxation	37,124,174	46,097,236	-19.5%
Taxation	(19,251,401)	(23,547,534)	-18.2%
Profit after taxation	17,872,773	22,549,702	-20.7%
Basic / diluted earnings per share (Rupees)	4.62	5.82	-20.6%

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