Earning Review: Faysal Bank reports earnings of Rs 3 billion

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By MG News | August 23, 2019 at 11:31 AM GMT+05:00

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August 23, 2019 (MLN): Faysal Bank Limited has announced net profits of Rs. 3 billion (EPS: Rs. 1.98) for the half year ended June 30, 2019, exhibiting a growth of 24.6% over the profits of Rs. 2.4 billion (EPS: Rs. 1.59) earned in the same period of last year.

The net interest income of the bank increased by 40%, while total income surged by 30.75%. On the other hand, the total interest expenses grew by just 14.46%. These factors led to a 23% growth in profit before tax.

Moreover, the taxation expenses increased by 20.8% to Rs. 2.2 billion during the said period.

Profit and loss account for the half year ended June 30, 2019 (Rupees'000)

 

June, 2019

June, 2018

% Change

Mark-up / return / interest earned

25,730,284

15,309,144

68.07%

Mark-up / return / interest expensed

15,671,429

8,097,960

93.52%

Net mark-up / interest income

10,058,855

7,211,184

39.49%

NON MARK-UP / INTEREST INCOME

 

 

 

Fee and commission income

2,031,097

1872205

8.49%

Dividend income

242,076

50,840

376.15%

Foreign exchange income

1,632,529

952694

71.36%

Income from derivatives

73,720

26,582

177.33%

(Loss) / gain on securities

-408,629

176,513

 

Other income

195,966

283816.000

-30.95%

Total non-markup / interest income

3,766,759

3,362,650

12.02%

Total income

13,825,614

10,573,834

30.75%

NON MARK-UP / INTEREST EXPENSES

 

 

 

Operating expenses

7,795,009

6,796,816

14.69%

Workers welfare fund

121,489

122,433

-0.77%

Other charges

17,219

12,118

42.09%

Total non-markup / interest expenses

7,933,717

6,931,367

14.46%

Profit before provisions

5,891,897

3,642,467

61.76%

Provision / (reversal of provision) and recoveries against written-off debts - net

670,910

-607,047

 

Share of loss of associate

 

-6,196

 

PROFIT BEFORE TAXATION

5,220,987

4,243,318

23.04%

Taxation

2,215,562

1,832,763

20.89%

PROFIT AFTER TAXATION

3,005,425

2,410,555

24.68%

Basic / diluted earnings per share

1.98

1.59

24.53%

 

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