Allied Bank Limited profits rise 4.69 percent to Rs. 3.77 billion
MG News | April 25, 2018 at 12:02 PM GMT+05:00
Allied Bank Limited (ABL) today announced financial results for the quarter ending 31 March, 2018 reporting Markup Earned worth Rs. 15.674 billion. Furthermore, the company’s net mark-up after provisions during the outgoing three months rose by 1.75 percent to reach 1.156 billion.
Among other heads, Fee Commission and Brokerage Income went up by 1.75 percent during the period, Dividend Income went up by 30.40 percent and Income from foreign currencies jumping by 60.63 percent during the reported period.
On the expenses front, total non-mark-up expenses during the quarter rose by 12.92 percent to clock in at 5.537 billion.
Allied Bank Limited reported profit after taxation at Rs. 3.77 billion up by 4.69 percent from 3.601 million last year translating into an EPS of Rs. 3.29 vs. an EPS of Rs 3.15 during the three months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30th 2018 | |||
|---|---|---|---|
| Key Financials | March, 2018 | March, 2017 | % Change |
| Amounts in PKR ‘000 | |||
| Mark-up/return/interest earned | 15,674,319 | 15,739,193 | -0.41% |
| Net mark-up/return/interest earned after provisions | 8,518,349 | 8,385,780 | 1.58% |
| Fee, commission and brokerage income | 1,156,468 | 1,136,561 | 1.75% |
| Dividend Income | 549,576 | 421,455 | 30.40% |
| Income from Foreign Currencies | 271,769 | 169,191 | 60.63% |
| Capital gain on sale of securities - net | 1,343,221 | 299,471 | 348.53% |
| Other income | 38,548 | 44,176 | -12.74% |
| Total non-mark-up/interest income | 3,359,582 | 2,069,566 | 62.33% |
| Administrative Expenses | 5,232,067 | 4,739,708 | 10.39% |
| Other provisions - net | 62,000 | 12,000 | 416.67% |
| Other charges/reversals | 223,390 | 155,018 | 44.11% |
| Total non-mark-up/interest expenses | 5,537,457 | 4,904,028 | 12.92% |
| Profit before Taxation | 6,075,248 | 5,551,318 | 9.44% |
| Taxation | 2,304,530 | 1,949,436 | 18.22% |
| Profit after Taxation | 3,770,718 | 3,601,882 | 4.69% |
| Unappropriated profit brought forward | 49,212,447 | 46,490,244 | 5.86% |
| Profit available for appropriation | 52,634,757 | 47,748,117 | 10.23% |
| EPS - Basic and diluted | 3.29 | 3.15 | 4.44% |
Company release on Earnings Report can be accessed here.
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