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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