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

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 30th 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.

Posted on: 2018-04-17T14:14:00+05:00