Bank Al Habib Limited profits fall 9.43 percent to Rs. 2.087 billion

MG News | April 17, 2018 at 02:14 PM GMT+05:00

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Bank Al Habib Ltd. (BAHL) today announced financial results for the three months period ending 31 March, 2018 reporting Net markup interest earned worth Rs. 13.206 billion. Furthermore, the company’s net income after provisions during the outgoing three months rose by 17.73 percent to reach 7.303 billion.

BAHL releases on the exchange show a somber performance during the last three months ending March, 2018. Fee, Brokerage and Commission Income during the quarter went up by 13 percent, income from foreign currencies soaring by 196 percent however capital gain on sale of securities fell by 93.62 percent.

On the expenses front, BAHL Total non-mark-up expenses increased by 12.40 percent taking away 5.401 billion from bottom-line profits. Bank AL Habib reported profits after taxing at Rs. 2.087 billion down 9.43 percent from 2.304 billion last year.

Bank reported an EPS of Rs. 1.88 vs. an EPS of Rs 2.07 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2017
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Net mark-up/return/interest earned	13,206,676	12,143,062	8.76%
Net mark-up/return/interest earned after provisions	7,303,884	6,204,191	17.73%
Fee, commission and brokerage income	916,750	811,387	12.99%
Dividend Income	66,297	79,634	-16.75%
Income from Foreign Currencies	242,012	81,556	196.74%
Capital gain on sale of securities - net	46,710	732,647	-93.62%
Other income	242,081	317,528	-23.76%
Total non-mark-up/interest income	1,502,706	2,008,828	-25.19%
Administrative Expenses	5,354,877	4,752,755	12.67%
Other provisions - net	23,748	20,851	13.89%
Other charges/reversals	70,648	73,802	-4.27%
Total non-mark-up/interest expenses	5,401,777	4,805,706	12.40%
Profit before Taxation	3,404,813	3,609,739	-5.68%
Taxation	1,317,233	1,304,928	0.94%
Profit after Taxation	2,087,580	2,304,811	-9.43%
EPS - Basic and diluted	1.88	2.07	-9.18%

Company release on Earnings Report can be accessed here.

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