Corporate Alert: Askari Bank Ltd. reports an EPS of 2.40 for the period ended June 30, 2017

Askari Bank Ltd. announced Financial Results for the year ended June 30, 2017.

The company’s Mark-up/return/interest earned for the period increased by 2 percent in the outgoing year, whereas the Profit after Taxation for the Period increased 2 percent.

The board has recommended no Cash Dividend, bonus shares or right shares.

Comparison of Key Financials:

Financial Results – For the half Year Ended

Key Financials

June 30, 2017

June 30, 2016

% Change

Mark-up/return/interest earned

17,641,247

17,226,974

2%

Mark-up/return/interest expensed

9,806,254

10,037,217

-2%

Net Mark-up/interest income

7,834,993

7,189,757

9%

Reversal of provision against NPLs and advances – net

1,069,513

523,999

104%

Reversal of provision against assets held for sale

30,047

5,340

463%

Bad Debts written off directly

 

Net mark-up/interest income after provisions

9,051,437

7,614,984

19%

Non-Mark Up/Interest income

   

Fee, commission and brokerage income

1,119,187

1,292,340

-13%

Dividend income

170,585

195,759

-13%

Income from dealing in foreign currencies

404,048

381,206

6%

Gain in sale of securities – net

1,522,131

2,021,825

-25%

Other income

271,681

204,140

33%

Total non-markup/interest income

12,539,069

11,710,254

7%

Non mark-up/Interest expenses

   

Administrative expenses

7,406,011

6,576,554

13%

Other provisions/write offs

 

Other charges

100,490

145,219

-31%

Total non-markup/interest expenses

7,506,501

6,721,773

12%

Profit before taxation

5,032,568

4,988,481

1%

Taxation – total

2,004,953

2,028,221

-1%

Current

946,439

910,824

4%

Prior years

243,344

266,425

-9%

deferred

815,170

850,972

-4%

Profit after taxation

3,027,615

2,960,260

2%

Basic earnings per share – Rupees

2.40

2.35

2%

 

Amounts in PKR ‘000

The complete statements can be accessed here.

Posted on: 2017-08-08T14:30:00+05:00