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.
