BankIslami posts nearly 19% decline in quarterly profit

MG News | April 22, 2025 at 04:40 PM GMT+05:00

0:00

April 22, 2025 (MLN): BankIslami Pakistan Limited (PSX: BIPL) has released its condensed interim consolidated financial results for the period ended March 31, 2025, reporting a profit after taxation of Rs2.61 billion, reflecting an 18.72% decline from Rs3.21bn recorded in the same period last year.

The bank’s earnings per share dropped to Rs2.3575 from Rs2.9004.

Total income rose by 6.34% to Rs12.38bn, compared to Rs11.64bn in March 2024.

This was despite a 33.90% decline in profit/return earned, which stood at Rs19.67bn, down from Rs29.75bn. Profit/return expensed also decreased significantly by 47.03% to Rs10.43bn.

Other income witnessed a sharp growth of 98.10%, reaching Rs3.15bn, mainly driven by a substantial increase in gain on securities, which surged by 874.65% to Rs2.11bn.

Fee and commission income grew by 16.89% to Rs735 million.

However, foreign exchange income dropped by 66.78% to Rs132.89m, and income from Shariah-compliant alternatives of forward FX contracts declined by 64.76%.

On the expenses side, operating expenses jumped by 44.29% to Rs7.05bn, contributing to a 45.16% increase in total other expenses which reached Rs7.28bn.

Despite a positive impact from a credit loss recovery of Rs390.5m, profit before taxation declined by 12.94% to Rs5.49bn, compared to Rs6.31bn in the same period last year.

The bank incurred taxation of Rs2.88bn, slightly lower than the Rs3.09bn paid in the previous year.

Condensed Interim Consolidated Profit and Loss Account (Un-audited) (Rupees '000)
Description	Mar-25	Mar-24	%Change
Profit / return earned	19,665,159	29,751,745	-33.90%
Profit / return expensed	10,434,380	19,699,444	-47.03%
Net Profit / return	9,230,779	10,052,301	-8.17%
OTHER INCOME			-
Fee and commission income	735,048	628,811	16.89%
Dividend income	26,306	-	-
Foreign exchange income	132,890	400,011	-66.78%
Income from shariah compliant alternative of forward FX contracts	106,405	301,971	-64.76%
Gain on securities - net	2,107,651	216,248	874.65%
Net gains on derecognition of financial assets	-	-	-
Other income	40,312	42,334	-4.78%
Total other income	3,148,612	1,589,375	98.10%
Total Income	12,379,391	11,641,676	6.34%
OTHER EXPENSES
Operating expenses	7,053,329	4,888,236	44.29%
Workers welfare fund	112,063	126,106	-11.14%
Other charges	113,436	127	-
Total other expenses	7,278,828	5,014,469	45.16%
Share of (loss) / profit from associates	-	-	-
Profit before credit loss allowance	5,100,563	6,627,207	-23.04%
Credit loss allowance and write offs - net	(390,536)	320,155	-
Extraordinary / unusual items	-	-	-
PROFIT BEFORE TAXATION	5,491,099	6,307,052	-12.94%
Taxation	2,877,373	3,091,424	-6.92%
PROFIT AFTER TAXATION	2,613,726	3,215,628	-18.72%
ATTRIBUTABLE TO:			-
Equity Shareholders of the Holding Company	2,613,726	3,215,628	-18.72%
Non-controlling interest	-	-	-
Basic and Diluted earnings per share	2.3575	2.9004	-18.72%

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