Askari Bank quarterly profit nearly doubles

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.

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