August 23, 2019 (MLN): Bank of Punjab’s half yearly net income has widened by 4.3% compared to last year as it has been recorded at Rs.4 billion (EPS: Rs.1.52 per share) compared to Rs.3.9 billion (EPS: Rs.4.46 per share) witnessed last year.
A massive leap of Rs.2 billion in net provision and write offs resulted in a mediocre increment in bottom line gains as the bank’s total income (Rs.15 billion) expanded by 35.5% (or Rs.3.9 billion) while the total non-mark-up expenses grew by only 19.2% (or Rs.1.1 billion) to Rs.7 billion.
Moreover, BOP’s tax payments grew by 23% to Rs.2.9 billion, marking a total rise of Rs.552 million.
Profit and Loss Account for the half year ended June 30th 2019 (Rupees in '000) | |||
|---|---|---|---|
| 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% |
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