Askari Bank Ltd. post profits worth Rupees 5.267 billion

By MG News | February 26, 2018 at 02:01 PM GMT+05:00

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Askari Bank Ltd. today announced financial results for the year ending December 31^st, 2018. The Bank reported profits worth Rupees 5.267 billion, up by 0.91% during the year. Bank’s income from foreign currencies also jumped by more than 31% to clock in at 843 million rupees.

Askari Bank’s posted a net mark-up income after provision at Rupees 17.400 billion, up 11.75% reporting a decent increase in sale of the banking products at the bank.

The company reported an EPS of Rs. 4.18 vs. an EPS of Rs. 4.14 during year ending December, 2016.

The Board of Directors at the Askari Bank did not approve any dividend.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net mark-up/return/interest earned	36,267,220	35,408,195	2.43%
Net mark-up/return/interest earned after provisions	17,400,348	15,570,262	11.75%
Fee, commission and brokerage income	2,706,794	2,438,914	10.98%
Dividend Income	302,894	304,850	-0.64%
Income from Foreign Currencies	843,032	639,827	31.76%
Capital gain on sale of securities - net	2,055,293	3,526,687	-41.72%
Other income	347,470	300,195	15.75%
Total non-mark-up/interest income	6,255,483	7,210,473	-13.24%
Administrative Expenses	14,948,796	14,078,992	6.18%
Other provisions - net	21,832	3,260	569.69%
Other charges/reversals	193,401	221,535	-12.70%
Total non-mark-up/interest expenses	14,164,029	14,078,992	0.60%
Profit before Taxation	15,164,029	14,303,787	6.01%
Taxation	3,223,915	3,256,313	-0.99%
Profit after Taxation	5,267,887	5,220,635	0.91%
EPS - Basic and diluted	4.18	4.14	0.97%

Company release on Earnings Report can be accessed here.

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