October 23, 2019 (MLN): Askari Bank Limited has announced a Profit After Tax (PAT) of Rs. 4.3 billion (EPS: Rs. 3.48) for the nine months ended September 30, 2019, indicating a growth of 20.86% as compared to the PAT of same period last year.
The Net Interest Income of the bank rose by 17.5% whereas total Non-markup Interest Income grew by 20.8%. The combined impact of these led to increase in total income by around 18.2%.
Pick-up in fee and commission income by 17.4% as well as gains from foreign exchange by 52% mainly helped in lifting the profits of the bank.
Furthermore, the total Non-mark-up expenses increased by 17.2% due to substantial growth of non-core expenses.
|
Financial Results for the nine months ended September 30, 2019 ('000 Rupees) |
|||
|---|---|---|---|
|
Sep-19 |
Sep-18 |
% Change |
|
|
Mark-up/return/interest earned |
50,736,805 |
30,991,621 |
63.71% |
|
Mark-up/return/interest expensed |
34,509,873 |
17,183,622 |
100.83% |
|
Net mark-up/interest income |
16,226,932 |
13,807,999 |
17.52% |
|
NON MARK-UP/INTEREST INCOME |
|||
|
Fee, commission and brokerage income |
2,625,963 |
2,235,385 |
17.47% |
|
Dividend income |
205,411 |
160,815 |
27.73% |
|
Foreign exchange income |
1,865,711 |
1,224,588 |
52.35% |
|
Income / (loss) from derivatives |
|||
|
Gain on securities |
103,835 |
173,059 |
-40.00% |
|
Other income |
232,252 |
372,195 |
-37.60% |
|
Total non-mark-up/interest income |
5,033,172 |
4,166,042 |
20.81% |
|
Total Income |
21,260,104 |
17,974,041 |
18.28% |
|
NON MARK-UP/INTEREST EXPENSES |
|||
|
Operating expenses |
13,147,877 |
11,923,154 |
10.27% |
|
Workers' Welfare Fund |
68,239 |
(567,676) |
-112.02% |
|
Other charges |
99,766 |
656 |
|
|
Total non-mark-up/interest expenses |
13,315,882 |
11,356,134 |
17.26% |
|
Profit before provisions |
7,944,222 |
6,617,907 |
20.04% |
|
Provisions and write offs – net |
731,119 |
416,058 |
75.73% |
|
Extraordinary items/unusual items |
– |
– |
|
|
Profit before taxation |
7,213,103 |
6,201,849 |
16.31% |
|
Taxation |
2,833,638 |
2,578,392 |
9.90% |
|
Profit after taxation – continued operations |
4,379,465 |
3,623,457 |
20.86% |
|
Profit after taxation – discontinued operations |
3,079 |
(6,156) |
|
|
Total profit after taxation |
4,382,544 |
3,617,301 |
21.16% |
|
Basic earnings per share |
3.48 |
2.87 |
21.25% |
Copyright Mettis Link News
30698
