Askari Bank’s net profits grow by 59% YoY on net interest income

Jun-20

Jun-19

% Change

Mark-up/return/interest earned

 42,457,549

 30,206,700

40.56%

Mark-up/return/interest expensed

 28,041,243

 19,350,386

44.91%

Net mark-up/interest income

 14,416,306

 10,856,314

32.79%

NON-MARK-UP/INTEREST INCOME

Fee and commission income

 1,508,826

 1,813,091

-16.78%

Dividend income

 122,347

 146,286

-16.36%

Foreign exchange income

 1,184,196

 1,242,423

-4.69%

Income / (loss) from derivatives

 -  

 -  

-

Gain on securities

 1,391,749

 37,310

3630.23%

Other income

 146,539

 149,766

-2.15%

Total non-mark-up/interest income

 4,353,657

 3,388,876

28.47%

Total Income

 18,769,963

 14,245,190

31.76%

NON-MARK-UP/INTEREST EXPENSES

Operating expenses

 9,950,703

 8,757,364

13.63%

Workers' Welfare Fund

 26,602

 31,042

-14.30%

Other charges

 11,854

 32,908

-63.98%

Total non-mark-up/interest expenses

 9,989,159

 8,821,314

13.24%

Profit before provisions

 8,780,804

 5,423,876

61.89%

Provisions and write offs - net

 644,312

 238,736

169.88%

Extraordinary items/unusual items

 -  

 -   

Profit before taxation

 8,136,492

 5,185,140

56.92%

Taxation

 (3,181,613)

 (2,063,027)

54.22%

Profit after taxation - continued operations

 4,954,879

 3,122,113

58.70%

Profit after taxation - discontinued operations

 16,932

 9,730

Total profit after taxation

 4,971,811

 3,131,843

58.75%

Basic and diluted earnings per share

 3.94

 2.48

58.87%