October 24, 2019 (MLN): Bank Al Habib Limited (BAHL) has declared net earnings of Rs. 6.9 billion (EPS: Rs. 6.3) for the nine months ended September 30, 2019, i.e. nearly 17.7% higher than the profits of same period last year.
The rise in BAHL’s profits is an outcome of better asset pricing as well as significant growth in book size, a report by BIPL Securities stated.
While the net interest income of the bank increased by 33.4%, the non-markup interest income grew by 26.8% on account of higher fee & commission income and income from foreign exchange transactions. Consequently, the total income rose by 32.2%.
On the other hand, the total non-markup expenses of the bank increased by 19% owing surge in operating expense by 18% as well as substantial increase in non-core expenses.
|
Profit and Loss Account for the nine months ended September 30, 2019 (Rupees in '000) |
|||
|---|---|---|---|
|
Sep-19 |
Sep-18 |
% Change |
|
|
Mark-up/return/interest earned |
73,744,299 |
42,831,311 |
72.17% |
|
Mark-up/return/interest expensed |
(43,716,560) |
(20,326,568) |
115.07% |
|
Net mark-up/return/interest income |
30,027,739 |
22,504,743 |
33.43% |
|
NON MARK-UP/INTEREST INCOME |
|||
|
Fee and commission income |
4,228,469 |
3,367,029 |
25.58% |
|
Dividend income |
301,801 |
302,353 |
-0.18% |
|
Foreign exchange income |
1,472,717 |
1,034,004 |
42.43% |
|
Income/(loss) from derivatives |
– |
– |
|
|
(Loss)/ gain on securities – net |
(65,030) |
23,454 |
|
|
Share of profit from associates |
65,213 |
55,069 |
18.42% |
|
Other income |
442,315 |
299,156 |
47.85% |
|
Total non-mark-up/interest income |
6,445,485 |
5,081,065 |
26.85% |
|
Total Income |
36,473,224 |
27,585,808 |
32.22% |
|
NON MARK-UP/INTEREST EXPENSES |
|||
|
Operating expenses |
(20,386,683) |
(17,258,571) |
18.12% |
|
Workers welfare fund |
(321,054) |
(205,432) |
56.28% |
|
Other charges |
(86,495) |
(2,561) |
|
|
Total non-mark-up/interest expenses |
(20,794,232) |
(17,466,564) |
19.05% |
|
Profit before provisions |
15,678,992 |
10,119,244 |
54.94% |
|
(Provisions) and write offs – net |
(2,811,919) |
(156,447) |
|
|
Extra-ordinary / unusual items |
– |
– |
|
|
Profit before taxation |
12,867,073 |
9,962,797 |
29.15% |
|
Taxation |
(5,873,455) |
(4,024,416) |
45.95% |
|
Profit after taxation |
6,993,618 |
5,938,381 |
17.77% |
|
Earnings per share – Basic and Diluted (in Rupees) |
6.30 |
5.35 |
17.76% |
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