April 29, 2025 (MLN): Askari Bank Limited (PSX: AKBL) reported a profit of Rs7.16 billion [EPS: Rs4.94] for the quarter ended March 31, 2025, showing a significant year-on-year (YoY) increase of 91.37% from Rs3.74bn [EPS: Rs2.58] in the same period last year.
The bank’s net mark-up/interest income surged 69.72% YoY to Rs21.92bn, as mark-up earned dropped 24.44% to Rs75.94bn but was more than offset by a steeper 38.33% decline in mark-up expensed, which fell to Rs54.01bn.
Total non-mark-up income declined slightly by 3.66% YoY to Rs3.71bn, despite a 202.94% jump in gains on securities and a 52.69% rise in other income.
However, this was weighed down by a 51.26% drop in foreign exchange income and a marginal decrease in fee and commission income.
Operating expenses rose 23.14% YoY to Rs9.94bn, pushing total non-mark-up expenses up by 23.04% to Rs10.1bn. Despite these higher expenses, profit before credit loss allowance and taxation rose sharply by 81.50% to Rs15.53bn.
Credit loss provisions declined significantly by 78.21% to Rs256mn, boosting the bank’s profit before tax to Rs15.27bn, more than double the Rs7.38bn recorded in the same quarter last year.
Taxation more than doubled to Rs8.12bn, resulting in a net profit of Rs7.16bn attributable to equity holders of the bank, up 91.79% YoY, reflecting strong operational gains and improved efficiency.
| Consolidated Financial Results For The Quarter Ended March 31, 2025 (Rupees '000) | |||
| Category | Mar-25 | Mar-24 | %Change |
| Mark-up / Return / Interest Earned | 75,935,646 | 100,494,678 | -24.44% |
| Mark-up / Return / Interest Expensed | (54,012,365) | (87,577,415) | -38.33% |
| Net Mark-up / Interest Income | 21,923,281 | 12,917,263 | 69.72% |
| Fee and Commission Income | 1,764,213 | 1,832,084 | -3.70% |
| Dividend Income | 234,051 | 178,230 | 31.32% |
| Foreign Exchange Income | 707,506 | 1,451,648 | -51.26% |
| Gain / (Loss) on Securities – Net | 828,675 | 273,546 | 202.94% |
| Other Income | 173,959 | 113,929 | 52.69% |
| Total Non-Mark-up / Interest Income | 3,708,404 | 3,849,437 | -3.66% |
| Total Income | 25,631,685 | 16,766,700 | 52.87% |
| Operating Expenses | (9,943,690) | (8,074,944) | 23.14% |
| Workers' Welfare Fund | (156,478) | (135,000) | 15.91% |
| Other Charges | (1,446) | (378) | 282.54% |
| Total Non-Mark-up / Interest Expenses | (10,101,614) | (8,210,322) | 23.04% |
| Profit Before Credit Loss Allowance & Taxation | 15,530,071 | 8,556,378 | 81.50% |
| Credit Loss Allowance & Write Offs – Net | (255,798) | (1,173,673) | -78.21% |
| Profit Before Taxation | 15,274,273 | 7,382,705 | 106.89% |
| Taxation | (8,118,021) | (3,643,172) | 122.83% |
| Profit After Taxation | 7,156,252 | 3,739,533 | 91.37% |
| Attributable To: | |||
| – Non-Controlling Interest | 31,521 | 24,659 | 27.83% |
| – Equity Holders of the Bank | 7,124,731 | 3,714,874 | 91.79% |
| Basic and Diluted Earnings Per Share (Rs.) | 4.94 | 2.58 | 91.47% |
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Posted on: 2025-04-29T14:46:26+05:00
