BAHL witnesses 17.7% rise in profits on the back of better asset pricing

MG News | October 24, 2019 at 04:26 PM GMT+05:00

0:00

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%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,115.82 431.76M	-1.03% -1778.46
ALLSHR	102,630.82 1,022.40M	-0.72% -743.98
KSE30	51,478.54 123.81M	-1.23% -641.56
KMI30	245,731.79 184.52M	-1.22% -3035.83
KMIALLSHR	66,650.32 595.11M	-0.81% -541.20
BKTi	47,279.59 41.00M	-1.38% -660.98
OGTi	35,704.94 10.73M	-1.65% -598.06

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,375.00	82,725.00 80,875.00	990.00 1.23%
BRENT CRUDE	104.75	105.54 103.82	3.46 3.42%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-5.00 -4.35%
ROTTERDAM COAL MONTHLY	107.10	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	99.12	99.91 97.65	3.70 3.88%
SUGAR #11 WORLD	14.69	0.00 0.00	0.00 0.00%