May 3, 2019 (MLN): Askari Bank Limited has announced a Profit After Tax (PAT) of Rs. 1.8 billion (EPS: Rs. 1.46) for the quarter ended March 31, 2019, indicating a growth of 32.5% as compared to the results of same period last year.
The Net Interest Income of the bank rose by 35% whereas total Non-markup Interest Income went up by 15%. The combined impact of these led to increase in total income by around 31%.
Furthermore, the tax expense went up by 76% due to imposition of super tax on the earnings of CY17, which were booked during the period under review.
Despite an increase of 11% in total expenses, the company’s overall performance was still praise worthy.
|
Profit and loss account for the quarter ended March 31 2019 (Rupees'000) |
|||
|---|---|---|---|
|
Mar-19 |
Mar-18 |
% Change |
|
|
Mark-up / return / interest earned |
14,261,858 |
9,133,361 |
56.15% |
|
Mark-up / return / interest expensed |
8,543,106 |
4,904,261 |
74.20% |
|
Net mark-up / interest income |
5,718,752 |
4,229,101 |
35.22% |
|
Non mark-up / interest income |
|||
|
Fee and commission income |
844,414 |
692,125 |
22.00% |
|
Dividend income |
57,225 |
37,398 |
53.02% |
|
Foreign exchange income |
397,422 |
324,013 |
22.66% |
|
Income / (loss) from derivatives |
|||
|
Gain on securities |
34,279 |
92,903 |
-63.10% |
|
Other income |
49,269 |
49,789 |
-1.04% |
|
Total non-markup / interest income |
1,382,609 |
1,196,228 |
15.58% |
|
Total income |
7,101,361 |
5,425,328 |
30.89% |
|
Non mark-up / interest expenses |
|||
|
Operating expenses |
4,274,441 |
3,815,413 |
12.03% |
|
Workers' Welfare Fund |
15,508 |
45,000 |
-65.54% |
|
Other charges |
22,209 |
233 |
9431.76% |
|
Total non-markup / interest expenses |
4,312,158 |
3,860,646 |
11.70% |
|
Profit before provisions |
2,789,203 |
1,564,682 |
78.26% |
|
Provisions and write offs – net |
-348,023 |
-558,869 |
-37.73% |
|
Extraordinary / unusual items |
|||
|
Profit before taxation |
3,137,226 |
2,123,551 |
47.73% |
|
Taxation |
1,308,061 |
743,324 |
75.97% |
|
Profit after taxation |
1,829,165 |
1,380,227 |
32.53% |
|
Basic earnings per share |
1.46 |
1.09 |
33.94% |
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