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

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 30th 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.

Posted on: 2018-04-26T11:15:00+05:00