BAHL’s quarterly profits up by 6.6% to Rs4.9bn

News Image

By MG News | April 19, 2022 at 02:16 PM GMT+05:00

0:00

March 19, 2022 (MLN): Bank Al-Habib Limited (BAHL) has recorded a consolidated net profit of Rs4.94 billion (EPS: Rs4.45) during the first quarter of the current calendar year, showing an increase of 6.58% YoY compared to Rs4.63bn (EPS: Rs4.17) in the corresponding period last year.

This muted growth in profitability is due to provision charges, however, net interest income (NII) and notable growth in non-funded income (NFI) supported the bottom line.

Going by the financial results, the bank’s interest income went up by 32% YoY while interest expenses surged by around 42% YoY, hence BAHL’s net interest income (NII) stood at Rs16bn, witnessing a jump of 22% YoY due to higher interest rates.

While non-funded income (NFI) of the bank observed a 29% YoY increase to Rs4.2bn. Improved transactional volumes and diversification of revenue streams supplemented a growth of 22% in fee income whereas dividend and capital gain increased by 3x and 40x YoY, respectively.

On the provision side, the bank reported a provision of Rs156mn in 1QCY22 when compared to a reversal of Rs245mn reported in 1QCY21, restricting its bottom line.

On the tax front, the effective tax rate stood at 40% from 35% in 1QCY21.

Consolidated Profit and Loss Account for the three months ended March 31, 2022 (Rupees in '000)

 

Mar-22

Mar-21

% Change

Mark-up/return/interest earned

 34,193,065

 25,942,248

31.80%

Mark-up/return/interest expensed

 (18,169,622)

 (12,829,815)

41.62%

Net mark-up/return/interest income

 16,023,443

 13,112,433

22.20%

NON-MARK-UP/INTEREST INCOME

 

 

 

Fee and commission income

 2,842,253

 2,322,460

22.38%

Dividend income

 204,504

 61,183

234.25%

Foreign exchange income

 585,043

 649,786

-9.96%

Income/(loss) from derivatives

 -  

 -  

-

Gain on securities - net

 158,287

 3,930

3927.66%

Share of profit from associates

 173,828

 47,895

262.94%

Other income

 232,013

 163,477

41.92%

Total non-mark-up/interest income

 4,195,928

 3,248,731

29.16%

Total Income

 20,219,371

 16,361,164

23.58%

NON-MARK-UP/INTEREST EXPENSES

 

 

 

Operating expenses

 (11,725,626)

 (9,360,216)

25.27%

Worker’s welfare fund

 (167,824)

 (144,771)

15.92%

Other charges

 (251)

 (783)

-67.94%

Total non-mark-up/interest expenses

 (11,893,701)

 (9,505,770)

25.12%

Profit before provisions

 8,325,670

 6,855,394

21.45%

(Provisions)/ reversals and write offs - net

 (156,183)

 245,444

-

Extra-ordinary / unusual items

 -  

 -  

 

Profit before taxation

 8,169,487

 7,100,838

15.05%

Taxation

 (3,231,616)

 (2,467,793)

30.95%

Profit after taxation

 4,937,871

 4,633,045

6.58%

Earnings per share - Basic and Diluted (in Rupees)

 4.45

 4.17

6.71%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

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