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.
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.
