Bank of Khyber today released financial statements for the year ending December, 31st 2017. The company reported net income after provisions worth Rupees 4.902 billion whereas reporting a total of 1.790 billion worth of profits for the period.
The company during the period reported a 50 percent decline in Sale of Securities, 33 percent increase in other income and a 1.6 percent increase in total non-mark-up/interest income. Whereas, the bank’s total non-mark-up expenses went up by 17.13 percent during the period under review.
Faysal Bank Management reported profit after taxation at Rupees 1.790 billion falling by 11.38 percent during the period against last year’s profit of Rupees 2.020 billion.
The management reported earnings per share of rupees 1.79 per share against last year’s Rupees 2.02 per share.
The Board at Bank of Khyber approved a final cash dividend for the year at Rupees 1.50 per share @ 15 percent.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Year Ended, December 30th 2017 | |||
Key Financials | 2017 | 2016 | % Change |
Amounts in PKR | |||
Net mark-up/return/interest earned | 14,375,382 | 12,049,052 | 19.31% |
Net mark-up/return/interest earned after provisions | 4,902,827 | 3,775,698 | 29.85% |
Fee, commission and brokerage income | 325,138 | 252,781 | 28.62% |
Dividend Income | 58,039 | 102,190 | -43.20% |
Income from Foreign Currencies | 87,305 | 88,475 | -1.32% |
Capital gain on sale of securities – net | 1,061,172 | 2,139,484 | -50.40% |
Other income | 119,164 | 89,342 | 33.38% |
Total non-mark-up/interest income | 6,553,645 | 6,448,686 | 1.63% |
Administrative Expenses | 3,774,878 | 3,210,806 | 17.57% |
Other provisions – net | 19,407 | 2,299 | 744.15% |
Other charges/reversals | 2,776 | 228 | 1117.54% |
Total non-mark-up/interest expenses | 3,758,247 | 3,208,735 | 17.13% |
Profit before Taxation | 2,795,398 | 3,239,951 | -13.72% |
Taxation | 1,004,927 | 1,219,475 | -17.59% |
Profit after Taxation | 1,790,471 | 2,020,476 | -11.38% |
EPS – Basic and diluted | 1.79 | 2.02 | -11.39% |
Company release on Earnings Report can be accessed here.
