October 18, 2018 (MLN): Bank Al-Habib’s consolidated profits during the nine month period ended on September 30, 2018 have toppled over slightly by 5.2%, as compared to the same period last year.
In line with the contents of it’s financial earning report, Bank Al-Habib’s net mark-up/interest income after provisions recorded a fortunate rise of 17% or Rs.3.3 billion during the period.
However, as the net gains on sale/redemption of securities hit rock bottom, the total non-mark-up/interest income came down by 23% of Rs.1.5 billion.
In addition to this, administrative expenses rose by Rs.2.4 billion, pulling the total non-mark-up/interest expenses up, by 14.3%.
The collective impact of these changes brought about a decline of Rs.324.2 million in post-tax profits.
Apart from this, there has been a marginal slip of Rs.0.28 per share in basic and diluted earnings per share as they stood in at Rs.5.35 per share.
Consolidated Profit and Loss Account for the nine month period ended September 30th 2018 (Rupees in '000) | |||
|---|---|---|---|
| Sep-18 | Sep-17 | % Change |
Mark-up/return/interest earned | 42,850,747 | 37,225,946 | 15.11% |
Mark-up/return/interest expensed | (20,326,568) | (18,018,639) | 12.81% |
Net mark-up/return/interest income | 22,524,179 | 19,207,307 | 17.27% |
(Provision)/reversal against non-performing loans and advances – net | 197,182 | (140,436) |
|
Provision for diminution in the value of investments | (395,949) | (25,892) | 1429.23% |
Bad debts written off directly | – | – |
|
Net mark-up/interest income after provisions | 22,325,412 | 19,040,979 | 17.25% |
NON MARK-UP/INTEREST INCOME |
|
|
|
Fee, commission and brokerage income | 3,048,626 | 2,393,453 | 27.37% |
Dividend income | 302,353 | 265,992 | 13.67% |
Income from dealing in foreign currencies | 1,034,004 | 664,072 | 55.71% |
Gain/(loss) on sale/redemption of securities – net | 23,454 | 2,638,342 | -99.11% |
Unrealized gain/(loss) or revaluation of investments classified as “held-for-trading” – net | – | (9,941) |
|
Share of profit from associates | 55,069 | 31,046 | 77.38% |
Other income | 674,364 | 690,132 | -2.28% |
Total non-mark-up/interest income | 5,137,870 | 6,673,096 | -23.01% |
NON MARK-UP/INTEREST EXPENSES |
|
|
|
Administrative expenses | (17,334,812) | (14,895,063) | 16.38% |
Other (provisions)/reversals/write-offs | 42,320 | (17,993) |
|
Other charges | (207,993) | (401,589) | -48.21% |
Total non-mark-up/interest expenses | (17,500,485) | (15,314,645) | 14.27% |
Extra-ordinary / unusual items | – | – |
|
Profit before taxation | 9,962,797 | 10,399,430 | -4.20% |
Taxation | (4,024,416) | (4,136,804) | -2.72% |
Profit after taxation | 5,938,381 | 6,262,626 | -5.18% |
Earnings per share – Basic and Diluted (in Rupees) | 5.35 | 5.63 | -4.97% |
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