Earning Review: Faysal Bank reports earnings of Rs 3 billion
MG News | August 23, 2019 at 11:31 AM GMT+05:00
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% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 143,037.17 262.32M | 0.69% 984.52 |
| ALLSHR | 88,422.07 548.73M | 0.67% 590.27 |
| KSE30 | 43,996.15 140.47M | 0.66% 289.41 |
| KMI30 | 203,644.09 138.29M | 0.41% 827.53 |
| KMIALLSHR | 59,220.62 312.36M | 0.64% 379.23 |
| BKTi | 38,768.34 10.68M | 0.48% 185.49 |
| OGTi | 29,780.41 21.28M | -0.74% -222.95 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 114,625.00 | 114,675.00 113,860.00 | 470.00 0.41% |
| BRENT CRUDE | 67.68 | 68.87 67.52 | -1.08 -1.57% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 65.28 | 65.29 65.11 | 0.12 0.18% |
| SUGAR #11 WORLD | 16.09 | 16.27 15.92 | -0.16 -0.98% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|