Askari Bank Ltd. post profits worth Rupees 5.267 billion

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. 

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.

Posted on: 2018-02-26T14:01:00+05:00