Bank of Khyber reports 17% drop in half yearly profits

Bank of Khyber (BOK) registered a drop of 17.3% in its half yearly profits, as they reduced to Rs.776.4 million during the six month period ended on June 30th 2018, from Rs.939 million during the half year ended June 30th 2017.

These results were issued to PSX after the company finalized its earnings during its Board of Directors meeting, which took place on August 17, 2018.

BOK’s Net mark-up/return/interest income observed an increase of 25%, while Net mark-up/return/interest income after provisions grew by almost 42%.

Total non-mark-up/interest income dropped by 74%, and Administrative expenses went up by 8.9%.

In addition to this, Bank of Khyber also reported its Basic and diluted earnings per share at Rs.0.78 per share, down from Rs.0.94 per share during the half yearly period ended in June 2017

 

Profit and Loss Account for the Half Year Ended on June 30th 2018 (Rupees in '000)

 

Jun-18

Jun-17

% Change

Mark-up/return/interest earned

                       7,134,096

                       6,731,479

5.98%

Mark-up/return/interest expensed

                       4,343,165

                       4,504,826

-3.59%

Net mark-up/return/interest income

                       2,790,931

                       2,226,653

25.34%

Provision against loans and advances – net

                           (65,395)

                           218,126

 

(Reversal)/provision for diminution in the value of investments – net

                             (5,763)

                             (8,378)

-31.21%

Bad debts written off directly

                                      –  

                                      –  

 

Net mark-up/return/interest income after provisions

                       2,862,089

                       2,016,905

41.90%

NON MARK-UP/INTEREST INCOME

 

 

 

Fee, commission and brokerage income

                           211,173

                           157,301

34.25%

Dividend income

                             26,542

                             36,557

-27.40%

Income from dealing in foreign currencies

                             54,629

                             35,948

51.97%

Gain on sale of securities – net

                             11,930

                       1,156,509

-98.97%

Unrealized gain/(loss) or revaluation of investments classified as “held-for-trading” – net

                                 (698)

                                   527

 

Other income

                             67,043

                             53,019

26.45%

Total non-mark-up/interest income

                           370,619

                       1,439,861

-74.26%

NON MARK-UP/INTEREST EXPENSES

 

 

 

Administrative expenses

                       1,965,370

                       1,804,429

8.92%

Provision/ (reversals) against other assets

                                      –  

                                      –  

 

Other charges

                                   130

                                   (87)

 

Total non-mark-up/interest expenses

                       1,965,500

                       1,804,342

8.93%

Profit before taxation

                       1,267,208

                       1,652,424

-23.31%

Taxation

                           490,856

                           713,306

-31.19%

Profit after taxation

                           776,352

                           939,118

-17.33%

Earnings per share – Basic and Diluted (in Rupees)

                                  0.78

                                  0.94

-17.02%

 

Posted on: 2018-08-17T15:22:00+05:00

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