Allied Bank’s profits jump 0.8% at Rs13 bln

February 13, 2019 (MLN): Allied Bank Limited’s consolidated profits for the year ended December 31, 2018 clocked in at Rs. 13 billion, higher by merely 0.82% over Rs. 12.9 billion last year.

This mere change in bottom-line emanated from a similar not-so-great change in the company’s net interest income.

Even though the bank witnessed a 7% positive change in its total income, the impact of it was nearly countered by an increase in the total interest expenses by 6.14%.

ABL stated its Earning per share at Rs 11.38 for the said period, 2.34% higher than that of previous year.

Moreover, it announced a cash dividend for the same period at Rs. 2 per share i.e. 20%. This is in addition to interim dividends already paid at Rs. 6 per share i.e. 60%.  

Profit and loss account for the year ended December 31 2018 (Rupees'000)

 

Dec-18

Dec-17

% Change

Mark-up / return / interest earned

73,275,474

65,710,553

11.51%

Mark-up / return / interest expensed

41,157,150

34,129,289

20.59%

Net mark-up / interest income

32,118,324

31,581,264

1.70%

NON MARK-UP / INTEREST INCOME

 

 

 

Fee and commission income

4,981,220

4,558,429

9.27%

Dividend income

2,828,478

3,256,829

-13.15%

Foreign exchange income

1,504,189

762,059

97.38%

Income from derivatives

 

 

 

Gain on securities – net

2,319,341

611,369

279.37%

Other income

246,888

160,386

53.93%

Total non-markup / interest income

11,880,116

9,349,072

27.07%

Total income

43,998,440

40,930,336

7.50%

NON MARK-UP / INTEREST EXPENSES

 

 

 

Operating expenses

24,719,299

21,793,123

13.43%

Workers welfare fund – net

-1,118,156

422,979

-364.35%

Other charges

81,963

96,856

-15.38%

Total non-markup / interest expenses

23,683,106

22,312,958

6.14%

Profit before provisions

20,315,334

18,617,378

9.12%

Net reversal against provisions and write offs

-1,089,688

-2,526,148

-56.86%

Extra-ordinary / unusual items

172,111

 

 

PROFIT BEFORE TAXATION

21,232,911

21,143,526

0.42%

Taxation

8,201,094

8,217,755

-0.20%

PROFIT AFTER TAXATION

13,031,817

12,925,771

0.82%

Basic Earnings per share

11.38

11.12

2.34%

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Posted on: 2019-02-13T12:49:00+05:00

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