BankIslami observes a robust growth of Rs 998 million; Up by 6.2 times

October 24, 2019 (MLN): BankIslami Pakistan Limited has announced its financial results for the nine months ended on September 30, 2019.  As per the results, it has posted its net profits to Rs 998 million( EPS: Rs 0.99); a robust growth by 6.2 compared to last year net profit of Rs 160 million (EPS: Rs 0.16).

The bank’s return earnings surged by 87.46%, YoY, moreover, its return expenses increased noticeably by 98.60%, YoY, resulting in rising of net return by 75.94%.

Total other income fell by 8.65% to Rs. 823 million, whereas, operating expenses and other charges jumped by 9.09% and 35.44% YoY, respectively.

Furthermore, the losses from BIPL Securities Limited decreased by 84.92%.

Profit and loss account for the Nine months ended September 30th 2019 ('000 Rupees)

 

 

Sep-19

Sep-18

% Change

Profit/return earned

              16,074,522

                 8,574,894

87.46%

Profit/return expensed

                 8,656,686

                 4,358,760

98.60%

Net Profit/return

                 7,417,836

                 4,216,134

75.94%

OTHER INCOME

 

 

 

Fee, commission and brokerage income

                    467,003

                     585,997

-20.31%

Dividend income

                         8,972

                       18,580

-51.71%

Foreign exchange income

                    139,592

                     135,807

2.79%

Gain on sale of securities

                       28,253

                       93,342

-69.73%

Other income

                    179,598

                       67,698

 

Total other income

                    823,418

                     901,424

-8.65%

 

                 8,241,254

                 5,117,558

61.04%

OTHER EXPENSES

 

 

 

Operating expenses

                 5,391,566

                 4,942,422

9.09%

Workers Welfare Fund

                       31,746

                         1,934

 

Other charges

                       36,316

                       26,814

35.44%

Total other expenses

                 5,459,628

                 4,971,170

9.83%

 

 

 

 

Profit before provisions

                 2,781,626

                     146,388

 

Provision/(reversal of provision) and write offs-net

                 1,230,108

                     (17,076)

 

Extraordinary/ unusual items

 –

 –

 

(Loss)/profit for the period from BIPL Securities Limited – net of tax

                       (7,821)

                     (51,867)

-84.92%

Share of profit from associate before taxation

                       11,525

                     110,555

-89.58%

Profit before taxation

                 1,555,222

                     222,152

 

Taxation

                    556,496

                       61,823

 

Profit after taxation

                    998,726

                     160,329

 

Basic and diluted earnings per share (Rupees)

                       0.9927

                       0.1688

 

 

Copyright Mettis Link News

Posted on: 2019-10-24T13:17:00+05:00

30727