Askari Bank’s Q3 profit hits Rs6bn, up 4.8%

News Image

MG News | October 30, 2024 at 11:02 AM GMT+05:00

0:00

October 20, 2024 (MLN): Askari Bank Limited (PSX: AKBL) reported a profit of Rs6.02 billion [EPS: Rs4.15] in Q3 2024, 4.77% higher compared to Rs5.75bn [EPS: Rs3.97] recorded in the same period last year (SPLY).

The bank witnessed an increase of 17.84% in its net interest income (NII) to stand at Rs18.45bn, compared to Rs15.7bn incurred in Q3 2023.

Likewise, the bank’s total non-markup income improved by 10.76% YoY to around Rs3.6bn.

The improved economic landscape resulted in higher foreign exchange income, while gains on securities also surged.

On the expense side, the total non-markup expenses expanded by 17.96% to Rs8.82bn in Q3 2024 compared to Rs7.48bn in Q3 2023.

The profit and loss statement further shows that the bank incurred a provision expense of Rs1.68bn, substantially higher compared to an expense of Rs73.1m in Q3 2023.

The bank paid Rs5.57bn on the tax front, 1.4% lower than the amount paid in Q3 2023.

Consolidated Financial Results for the quarter ended September 30, 2024 ('000 Rupees)
  Sep-24 Sep-23 % Change
Mark-up/return/interest earned 104,509,190 88,828,232 17.65%
Mark-up/return/interest expensed 86,011,728 73,130,624 17.61%
Net mark-up/interest income 18,497,462 15,697,608 17.84%
NON MARK-UP/INTEREST INCOME      
Fee and commission income 1,731,738 1,879,968 -7.88%
Dividend income 146,863 182,126 -19.36%
Foreign exchange income 1,159,558 852,646 36.00%
Gain on securities 426,767 192,316 121.91%
Other income 138,645 146,404 -5.30%
Total non mark-up/interest income 3,603,571 3,253,460 10.76%
Total Income 22,101,033 18,951,068 16.62%
NON MARK-UP/INTEREST EXPENSES      
Operating expenses 8,626,164 7,312,053 17.97%
Workers' Welfare Fund 139,262 160,211 -13.08%
Other charges 55,115 5,437 913.70%
Total non mark-up/interest expenses 8,820,541 7,477,701 17.96%
Profit before provisions 13,280,492 11,473,367 15.75%
Credit loss allowance and write offs - net 1,685,019 73,101 2205.06%
Extraordinary items/unusual items - -  
Profit before taxation 11,595,473 11,400,266 1.71%
Taxation 5,573,686 5,652,605 -1.40%
Profit after taxation 6,021,787 5,747,661 4.77%
Basic and diluted earnings per share 4.15 3.97 -

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 150,975.48
442.00M
0.67%
1004.36
ALLSHR 92,750.10
1,078.15M
0.32%
297.35
KSE30 45,968.76
167.03M
0.69%
313.73
KMI30 216,413.28
173.49M
0.58%
1258.11
KMIALLSHR 61,990.25
510.08M
0.16%
98.72
BKTi 41,875.31
192.40M
0.74%
308.16
OGTi 30,482.67
13.96M
0.16%
48.74
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,910.00 111,395.00
107,790.00
1135.00
1.04%
BRENT CRUDE 68.54 69.53
68.05
0.39
0.57%
RICHARDS BAY COAL MONTHLY 89.50 89.50
89.50
-0.20
-0.22%
ROTTERDAM COAL MONTHLY 96.50 96.50
96.25
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 65.04 66.03
63.66
1.03
1.61%
SUGAR #11 WORLD 16.21 16.52
16.15
-0.16
-0.98%

Chart of the Day


Latest News
September 02, 2025 at 05:49 PM GMT+05:00

Online loan apps charging up to 1,800% interest


September 02, 2025 at 05:22 PM GMT+05:00

CCP secures partial recovery in ICH penalties


September 02, 2025 at 04:15 PM GMT+05:00

Cement despatches rise over 12% in August 2025


September 02, 2025 at 04:09 PM GMT+05:00

Flash floods ravage Punjab, destroying crops


September 02, 2025 at 04:04 PM GMT+05:00

PSX Closing Bell: A Step Up



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg