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

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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.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 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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