January 29, 2020 (MLN): The Board of Directors of Bank Al-Habib Limited, in its meeting held on Wednesday, discussed and presented the financial results for the year ended December 31, 2019.
According to the financial report given to PSX, the profits of the bank stood at Rs. 11.19 billion (EPS: Rs. 10.07), i.e. 32.4% greater than the results of last year. The Board also announced a final cash dividend for the year at Rs. 3.5 per share, i.e. 35%.
The bank’s NII grew by 33.3% over the year, on account of a 74% rise in interest income. Besides, the profits of the bank were boosted by 30.4% increase in non-interest income.
The performance of the bank was in line with the market expectations, as several brokerage houses had expected similar change in profits for the above stated period.
|
Profit and Loss Account for the year ended December 31, 2019 (Rupees in '000) |
|||
|---|---|---|---|
|
Dec-19 |
Dec-18 |
% Change |
|
|
Mark-up/return/interest earned |
105,617,207 |
60,743,247 |
73.87% |
|
Mark-up/return/interest expensed |
(64,412,998) |
(29,838,696) |
115.87% |
|
Net mark-up/return/interest income |
41,204,209 |
30,904,551 |
33.33% |
|
NON MARK-UP/INTEREST INCOME |
|||
|
Fee and commission income |
6,135,310 |
4,825,113 |
27.15% |
|
Dividend income |
397,558 |
409,895 |
-3.01% |
|
Foreign exchange income |
2,305,204 |
1,631,947 |
41.25% |
|
Loss on securities – net |
(32,469) |
(10,316) |
|
|
Share of profit from associates |
94,992 |
61,819 |
53.66% |
|
Other income |
662,966 |
415,795 |
59.45% |
|
Total non-mark-up/interest income |
9,563,561 |
7,334,253 |
30.40% |
|
Total Income |
50,767,770 |
38,238,804 |
32.77% |
|
NON MARK-UP/INTEREST EXPENSES |
|||
|
Operating expenses |
(27,786,291) |
(23,414,190) |
18.67% |
|
Workers welfare fund |
(448,415) |
(294,534) |
52.25% |
|
Other charges |
(93,244) |
(3,517) |
2551.24% |
|
Total non-mark-up/interest expenses |
(28,327,950) |
(23,712,241) |
19.47% |
|
Profit before provisions |
22,439,820 |
14,526,563 |
54.47% |
|
(Provisions) and write offs – net |
(3,399,357) |
(220,748) |
|
|
Profit before taxation |
19,040,463 |
14,305,815 |
33.10% |
|
Taxation |
(7,848,833) |
(5,853,160) |
34.10% |
|
Profit after taxation |
11,191,630 |
8,452,655 |
32.40% |
|
Earnings per share – Basic and Diluted (in Rupees) |
10.07 |
7.61 |
32.33% |
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