Bank Alfalah's bottom-line gains up by 21 percent

MG News | October 26, 2018 at 10:47 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 26, 2018 (MLN): Bank Alfalah Limited (BAFL)’s cumulative consolidated profits by the third quarter ended September 30, 2018 have gone up by nearly 21% over the corresponding period of last year.

The company’s financial earnings report for the period shows that its net mark-up/interest income after provisions grew by 5% or Rs.1.2 billion over the 3 quarters.

Meanwhile, as income from dealing in foreign currencies rose by 70% (Rs.578 million) and Rs.269 million drop in administrative income weighed down total non-mark-up/interest further, BAFL’s overall profit for the period witnessed significant growth.

After accounting for the tax expenses, Bank Alfalah’s profits rose from Rs.7.4 billion to Rs.8.9 billion, up by Rs.1.5 billion.

Apart from this, the company’s basic earnings per share have increased from Rs.4.53 per share to Rs.5.49 per share.

Consolidated Financial Results for the nine months ended September 2018 ('000 Rupees)
	Sep-18	Sep-17	% Change
Mark-up/return/interest earned	42,906,629	41,970,717	2.23%
Mark-up/return/interest expensed	19,665,874	19,808,266	-0.72%
Net mark-up/interest income	23,240,755	22,162,451	4.87%
(Reversal)/ provisions against non-performing loans and advances - net	(549,999)	(645,056)	-14.74%
Provision for diminution in value of investments - net	(72,984)	109,112
Bad debts written off directly	-	-
Net mark-up/interest income after provisions	23,863,738	22,698,395	5.13%
Non mark-up/interest income
Fee, commission and brokerage income	5,041,613	4,877,992	3.35%
Dividend income	246,292	270,174	-8.84%
Income from dealing in foreign currencies	1,403,093	825,402	69.99%
Gain on sale of securities - net	1,421,051	1,510,216	-5.90%
Unrealized (loss)/gain on revaluation of investments classified as held for trading - net	(54,032)	(10,478)	415.67%
Share of profit for associates	472,044	388,497	21.51%
Other income	367,572	278,910	69.25%
Total non-mark-up/interest income	8,897,633	8,140,713	9.30%
Non mark-up/interest expenses
Administrative expenses	17,912,557	18,181,676	-1.48%
Provision /(reversal) against off-balance sheet obligations	4,103	(7,782)
Provision/(reversal) against other assets	(182,115)	(12,594)	1346.05%
Other charges	302,050	263,911	14.45%
Total non-mark-up/interest expenses	18,036,595	18,425,211	-2.11%
Extra-ordinary/ unusual items	-	-
Profit before taxation	14,724,776	12,413,897	18.62%
Taxation	5,812,749	5,046,914	15.17%
Profit after taxation	8,912,027	7,366,983	20.97%
Earnings per share - basic (rupees)	5.49	4.53	21.19%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,374.88 110.96M	-0.95% -1549.44
ALLSHR	98,620.11 386.58M	-0.91% -906.77
KSE30	47,823.16 51.47M	-1.02% -490.65
KMI30	232,733.99 57.93M	-1.23% -2903.19
KMIALLSHR	63,955.68 197.75M	-1.12% -727.41
BKTi	44,724.17 14.61M	-1.01% -457.04
OGTi	33,033.72 5.00M	-1.08% -361.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,170.00	81,450.00 80,040.00	-1035.00 -1.27%
BRENT CRUDE	117.38	117.45 112.74	4.21 3.72%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.10 -0.85%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.10 0.75%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	103.44	0.00 0.00	0.17 0.16%
SUGAR #11 WORLD	20.26	20.51 20.02	0.13 0.65%