Bank of Khyber posts 36% profit surge in Q3

By 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	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,655.00	108,105.00 107,505.00	-580.00 -0.54%
BRENT CRUDE	66.45	66.63 66.34	-0.29 -0.43%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.80	65.02 64.67	-0.31 -0.48%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%