Bank of Khyber posts 36% profit surge in Q3

News Image

MG News | October 30, 2024 at 10:45 AM GMT+05:00

0:00

October 20, 2024 (MLN): The Bank of Khyber (PSX: BOK) disclosed a profit of Rs1.07 billion [EPS: Rs0.92] for the quarter ended September 30, 2024, rising 36.03% compared to the earnings of Rs784.21m [EPS: Rs0.68] reported in the same quarter last year.

The bank's net interest income (NII) increased by 28.36% to Rs4.44bn, compared to Rs3.46bn in SPLY. The growth in NII is attributed to a more substantial decline in interest expenses. 

The non-markup income of the bank remained relatively stable at Rs440.84m in Q3 CY24.

On the expense side, the total non-markup expenses rose to Rs2.56bn in Q3 CY24 compared to Rs2.18bn in SPLY, depicting an increase of 17.34%.

Furthermore, the bank reported a credit gain of Rs250.24m during the review period compared to a loss of Rs105.8m in the corresponding period last year.

The bank paid Rs1.5bn on the tax front, 80.79% higher than the amount paid in Q3 CY23.

Profit and Loss Account for the quarter ended September 30 2024 (Rupees in '000)
  Sep-24 Sep-23 % Change
Mark-up / return / interest earned 16,062,205 16,460,304 -2.42%
Mark-up / return / interest expensed 11,623,482 13,002,200 -10.60%
Net mark-up / interest income 4,438,723 3,458,104 28.36%
NON MARK-UP/INTEREST INCOME      
Fee, commision and brokerage income 217,329 135,935 59.88%
Dividend income 178 3,587 -95.04%
Income from dealing in foreign currencies 143,804 342,085 -57.96%
Net gains / (loss) on derecognition of financial assets measured at amortised cost 42,540 (68,572) -162.04%
Share of profit/ (loss) of associate 2,039 874 133.30%
Other income 34,948 30,885 13.16%
Total non mark-up/interest income 440,838 444,794 -0.89%
Total Income 4,879,561 3,902,898 25.02%
NON MARK-UP/INTEREST EXPENSES      
Operating expenses 2,557,654 2,179,816 17.33%
Worler's welfare fund - -  
Other charges 1,550 1,269 22.14%
Total non mark-up/interest expenses 2,559,204 2,181,085 17.34%
Profit Before Porivisions 2,320,357 1,721,813 34.76%
Credit loss allowance / provisions and write offs - net 250,242 (105,799) -336.53%
Eaxtra ordinary/ unusual items - -  
Profit before taxation 2,570,599 1,616,014 59.07%
Taxation (1,503,861) (831,809) 80.79%
Profit after taxation 1,066,738 784,205 36.03%
Earnings per share - Basic and Diluted (in Rupees) 0.92 0.68 -

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 148,617.78
624.60M
0.86%
1274.27
ALLSHR 91,685.08
1,340.28M
0.74%
669.39
KSE30 45,247.79
197.43M
0.83%
370.74
KMI30 212,370.79
224.51M
1.05%
2209.48
KMIALLSHR 61,227.89
711.87M
1.18%
715.56
BKTi 41,264.02
160.39M
0.54%
221.73
OGTi 30,019.10
23.63M
0.64%
190.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,265.00 113,390.00
108,020.00
-4475.00
-3.97%
BRENT CRUDE 67.46 67.94
67.29
-0.52
-0.76%
RICHARDS BAY COAL MONTHLY 92.00 0.00
0.00
2.10
2.34%
ROTTERDAM COAL MONTHLY 99.60 0.00
0.00
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.01 64.55
63.88
-0.59
-0.91%
SUGAR #11 WORLD 16.34 16.52
16.33
-0.14
-0.85%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg