Bank of Khyber posts profits of Rs. 1.790 billion

By MG News | March 02, 2018 at 04:08 PM GMT+05:00

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Bank of Khyber today released financial statements for the year ending December, 31^st 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 30^th 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.

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