Bank of Khyber Ltd. profits rise 25 percent to Rs. 447.711 million
MG News | April 20, 2018 at 05:31 PM GMT+05:00
Bank of Khyber (BOK) today announced financial results for the three months period ending 31 March, 2018 reporting Net Spread earned worth Rs. 3.625 billion. Furthermore, the company’s net income after provisions during the outgoing three months rose by 48.31 percent to reach 1.498 billion.
Among other heads, Fee Commission and Brokerage Income went up by 60 percent during the period, Dividend Income going down by 65.56 percent and Income from foreign currencies jumping by 19.39 percent during the reported period.
On the expenses front, total non-mark-up expenses during the quarter rose by 18.48 percent to clock in at 977.854 million.
Bank of Khyber reported profit after taxation at Rs. 447.711 million up by 25 percent from 358.215 million last year translating into an EPS of Rs. 0.45 vs. an EPS of Rs 0.36 during the three months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30th 2018 | |||
|---|---|---|---|
| Key Financials | March, 2018 | March, 2017 | % Change |
| Amounts in PKR ‘000 | |||
| Net mark-up/return/interest earned | 3,625,560 | 3,067,096 | 18.21% |
| Net mark-up/return/interest earned after provisions | 1,498,246 | 1,010,210 | 48.31% |
| Fee, commission and brokerage income | 89,606 | 56,133 | 59.63% |
| Dividend Income | 6,631 | 19,253 | -65.56% |
| Income from Foreign Currencies | 23,357 | 19,563 | 19.39% |
| Capital gain on sale of securities - net | 498 | 498 | 0.00% |
| Other income | 36,896 | 30,369 | 21.49% |
| Total non-mark-up/interest income | 168,544 | 366,222 | -53.98% |
| Administrative Expenses | 977,854 | 825,318 | 18.48% |
| Other provisions - net | - | - |
|
| Other charges/reversals | - | 13 |
|
| Total non-mark-up/interest expenses | 977,854 | 825,331 | 18.48% |
| Profit before Taxation | 688,936 | 551,101 | 25.01% |
| Taxation | 241,225 | 192,886 | 25.06% |
| Profit after Taxation | 192,886 | 358,215 | -46.15% |
| EPS - Basic and diluted | 0.45 | 0.36 | 25.00% |
Company release on Earnings Report can be accessed here.
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