April 22, 2020 (MNL): Allied Bank Limited has announced the financial results for the quarter ended March 31, 2020, as per which, the company has made profits of Rs. 3.89 billion (EPS: Rs. 3.4), i.e. 26% higher than the figures reported in same period last year.
The Bank also paid a Cash Dividend for the quarter at Rs. 2 per share i.e. 20%.
According to the Financial Report released by the Bank, the Net Interest Income grew by 21%, while Non-Interest Income increased by merely 1.3%. Al on all, the total income of the bank grew by nearly 1%.
On the other hand, the total expenses surged by 18.4%, on the back of higher operating expenses and non-core charges,
The decline in income tax expense by 22.7% also helped significantly in lifting the profits of the bank during the period under review.
|
Profit and Loss Account for the quarter ended March 31, 2020 (Rupees in '000) |
|||
|---|---|---|---|
|
Mar-20 |
Mar-19 |
% Change |
|
|
Mark-up/return/interest earned |
32,071,244 |
24,344,612 |
31.74% |
|
Mark-up/return/interest expensed |
20,455,226 |
14,758,771 |
38.60% |
|
Net mark-up/interest income |
11,616,018 |
9,585,841 |
21.18% |
|
NON-MARK-UP/INTEREST INCOME |
|||
|
Fee, commission income |
1,718,614 |
1,532,528 |
12.14% |
|
Dividend income |
387,673 |
429,389 |
-9.72% |
|
Foreign exchange income |
(188,408) |
630,434 |
-129.89% |
|
Income from derivatives |
– |
– |
|
|
Gain/(loss) on sale of securities – net |
869,469 |
77,373 |
1023.74% |
|
Other income |
14,076 |
94,046 |
-85.03% |
|
Total non-mark-up/interest income |
2,801,424 |
2,763,770 |
1.36% |
|
Total Income |
14,417,442 |
12,349,611 |
16.74% |
|
NON-MARK-UP/INTEREST EXPENSES |
|||
|
Operating expenses |
7,118,552 |
6,007,698 |
18.49% |
|
Workers welfare fund |
144,313 |
134,726 |
7.12% |
|
Other charges |
45,394 |
30,044 |
51.09% |
|
Total non-mark-up/interest expenses |
7,308,259 |
6,172,468 |
18.40% |
|
Profit before provisions |
7,109,183 |
6,177,143 |
15.09% |
|
Provisions / (reversals) and write offs – net |
680,931 |
(203,754) |
-434.19% |
|
Extra ordinary / Unusual items |
– |
– |
|
|
Profit before taxation |
6,428,252 |
6,380,897 |
0.74% |
|
Taxation |
2,538,031 |
3,286,923 |
-22.78% |
|
Profit after taxation |
3,890,221 |
3,093,974 |
25.74% |
|
Earnings per share – Basic and Diluted (in Rupees) |
3.40 |
2.70 |
25.93% |
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