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.
