Bank of Punjab profits rises by 24.23 percent to Rs. 1.94 billion

By MG News | April 26, 2018 at 11:15 AM GMT+05:00

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Bank of Punjab (BOPL) today announced financial results for the quarter ending 31 March, 2018 reporting Markup Earned worth Rs. 9.705 billion. Furthermore, the company’s net mark-up after provisions during the outgoing three months rose by 30.10 percent to reach 4.852 billion.

Among other heads, Fee Commission and Brokerage Income went up by 13.89 percent during the period, Dividend Income clocked in at Rs. 20.183 million and Income from foreign currencies jumping by 267.78 percent during the reported period.

On the expenses front, total non-mark-up expenses during the quarter rose by 22.50 percent to clock in at 2.760 billion.

Bank of Punjab Limited reported profit after taxation at Rs. 1.940 billion up by 24.23 percent from 1.561 billion last year translating into an EPS of Rs. 0.73 vs. an EPS of Rs 1.00 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Mark-up/return/interest earned	9,692,410	7,641,912	26.83%
Net mark-up/return/interest earned after provisions	4,852,258	3,729,741	30.10%
Fee, commission and brokerage income	271,633	238,510	13.89%
Dividend Income	20,183	30,724	-34.31%
Income from Foreign Currencies	69,929	19,014	267.78%
Capital gain on sale of securities - net	26,363	114,697	-77.02%
Other income	529,410	522,547	1.31%
Total non-mark-up/interest income	917,203	924,523	-0.79%
Administrative Expenses	2,734,932	2,249,379	21.59%
Other provisions - net	25,705	4,243	505.82%
Other charges/reversals	-	35
Total non-mark-up/interest expenses	2,760,637	2,253,657	22.50%
Profit before Taxation	3,008,824	2,400,607	25.34%
Taxation	1,068,572	838,780	27.40%
Profit after Taxation	1,940,252	1,561,827	24.23%
EPS - Basic and diluted	0.73	1.00	-27.00%

Company release on Earnings Report can be accessed here.

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