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% |
Copyright Mettis Link News
23735
