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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