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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