Bank of Punjab records mediocre gain in profits due to large provisions

Jun-19

Jun-18

% Change

Mark-up/return/interest earned

    34,161,810

    20,439,520

67.14%

Mark-up/return/interest expensed

    21,033,787

    11,219,548

87.47%

Net mark-up/return/interest income

    13,128,023

       9,219,972

42.39%

NON MARK-UP/INTEREST INCOME

Fee, commision and brokerage income

       1,687,554

       1,617,313

4.34%

Dividend income

             57,821

             35,362

63.51%

Foreign exchange income

             30,761

          124,720

-75.34%

Income/(loss) from derivatives

                      -  

                      -  

Gain / (loss) on securities - net

             33,918

             18,171

86.66%

Other income

             43,752

             44,094

-0.78%

Total non-mark-up/interest income

       1,853,806

       1,839,660

0.77%

Total Income

    14,981,829

    11,059,632

35.46%

NON MARK-UP/INTEREST EXPENSES

Operating expenses

       7,025,982

       5,895,100

19.18%

Workers welfare fund

                      -  

                      -  

Other charges

               2,663

                      -  

Total non-mark-up/interest expenses

       7,028,645

       5,895,100

19.23%

Profit before provisions

       7,953,184

       5,164,532

54.00%

Provisions/(reversals) and write offs - net

       1,020,731

    (1,051,663)

Extra ordinary/unusual items

                      -  

                      -  

Profit before taxation

       6,932,453

       6,216,195

11.52%

Taxation

       2,918,409

       2,366,035

23.35%

Profit after taxation

       4,014,044

       3,850,160

4.26%

Earnings per share - Basic and Diluted (in Rupees)

                 1.52

                 1.46

4.11%