Askari Bank Ltd. today announced financial results for the year ending December 31st, 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.
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.
