BAHL reports rise in after-tax earnings

MG News | April 24, 2025 at 04:35 PM GMT+05:00

0:00

April 24, 2025 (MLN): Bank AL Habib Limited (PSX: BAHL) has posted a 4.59% increase in profit after tax for the quarter ended March 31, 2025, clocking in at Rs10.72 billion compared to Rs10.25bn in the same period last year.

The bank has declared an interim cash dividend of 35%, amounting to Rs3.5 per share.

Earnings per share (EPS) for the quarter rose to Rs9.65 from Rs9.22, reflecting a growth of 4.66%.

The bank’s net interest income declined by 9.38% to Rs33.64bn, as mark-up/return/interest earned dropped by 22.39%, while mark-up/return/interest expensed saw a steeper fall of 28.23%.

Despite the dip in net interest income, non-mark-up income rose by 7.45% to Rs8.6bn, largely supported by a 31.97% jump in fee and commission income and modest growth in other income.

However, income from derivatives swung into a loss of Rs244 million, while profit share from associates dropped by 31.08%.

On the expense side, operating costs surged by 19.23% to Rs21.63bn, pushing total non-mark-up expenses up by 18.04% to Rs22.07bn.

The bank reported a notable turnaround in credit performance, recording a net reversal of Rs1.16bn in credit loss allowances, compared to a charge of Rs6.87bn in the same period last year.

As a result, profit before taxation increased by 9.06% to Rs21.34bn. However, taxation rose by 13.98%, amounting to Rs10.61bn for the quarter.

Profit and Loss Account for the Three Months Ended March 31, 2025 (Rupees in '000)
Description	Mar-25	Mar-24	%Change
Mark-up / return / interest earned	92,970,508	119,784,286	-22.39%
Mark-up / return / interest expensed	(59,325,588)	(82,657,077)	-28.23%
Net mark-up / interest income	33,644,920	37,127,209	-9.38%
Fee and commission income	6,059,886	4,591,876	31.97%
Dividend income	68,913	85,536	-19.43%
Foreign exchange income	2,168,689	2,487,925	-12.83%
Income / (loss) from derivatives	(244,455)	220,512
Share of profit from associates	212,182	307,880	-31.08%
Other income	338,365	313,060	8.08%
Total non mark-up / interest income	8,603,580	8,006,789	7.45%
Total income	42,248,500	45,133,998	-6.39%
Operating expenses	(21,631,268)	(18,142,701)	19.23%
Workers' welfare fund	(431,459)	(427,090)	1.02%
Other charges	(6,941)	(126,218)	-94.50%
Total non mark-up / interest expenses	(22,069,668)	(18,696,009)	18.04%
Profit before credit loss allowance	20,178,832	26,437,989	-23.67%
Credit loss allowance and write-offs	1,156,860	(6,874,369)
Profit before taxation	21,335,692	19,563,620	9.06%
Taxation	(10,611,725)	(9,310,554)	13.98%
Profit after taxation	10,723,967	10,253,066	4.59%
Basic and diluted earnings per share	9.65	9.22	4.66%

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