Bank of Punjab: Profits fall off a cliff in 1QCY23

Mar-23

Mar-22

% Change

Mark-up/return/interest earned

   50,689,553

   26,819,842

89.00%

Mark-up/return/interest expensed

   42,907,230

   18,676,928

129.73%

Net mark-up/return/interest income

     7,782,323

     8,142,914

-4.43%

NON-MARK-UP/INTEREST INCOME

-

Fee and commission income

     1,726,428

     1,394,320

23.82%

Dividend income

         137,189

         164,143

-16.42%

Foreign exchange (loss) income

         780,381

         128,844

505.68%

Income/(loss) from derivatives

                    -  

                    -  

-

Gain / (loss) on securities - net

           59,579

      (123,680)

-

Other income-net

           40,257

         133,264

-69.79%

Total non-mark-up/interest income

     2,743,834

     1,696,891

61.70%

Total Income

   10,526,157

     9,839,805

6.98%

NON-MARK-UP/INTEREST EXPENSES

Operating expenses

     8,395,362

     7,349,729

14.23%

Workers welfare fund

           31,013

           62,105

-50.06%

Other charges

                 597

             4,014

-85.13%

Total non-mark-up/interest expenses

     8,426,972

     7,415,848

13.63%

Profit before provisions

     2,099,185

     2,423,957

-13.40%

(Reversal) / Provisions and write-offs - net

           10,123

   (1,063,925)

-

Extraordinary/unusual items

                    -  

                    -  

-

Profit before taxation

     2,089,062

     3,487,882

-40.11%

Taxation

         906,944

     1,324,227

-31.51%

Profit after taxation

     1,182,118

     2,163,655

-45.36%

Earnings per share - Basic and Diluted (in Rupees)

                0.39

                0.72

-