August 22, 2019 (MLN): Askari Bank Limited has announced profits of Rs. 3.1 billion (EPS: Rs. 2.48) for the half year ended June 30, 2019, which signifies a growth of 24% from the figures reported in the same period of last year.
The growth in profits was mainly led by surge in net interest income (NII) by 21.5%, Fee income by 23%, as well as foreign exchange income by 32%.
The total expenses of the bank increased by 13.2%, owing to higher operating and non-core expenses.
|
Profit and loss account for the half year ended June 30, 2019 (Rupees'000) |
|||
|---|---|---|---|
|
|
June, 2019 |
June, 2018 |
% Change |
|
Mark-up / return / interest earned |
30,206,700 |
19,120,494 |
57.98% |
|
Mark-up / return / interest expensed |
19,350,386 |
10,187,990 |
89.93% |
|
Net mark-up / interest income |
10,856,314 |
8,932,504 |
21.54% |
|
Non mark-up / interest income |
|
|
|
|
Fee and commission income |
1,813,091 |
1,471,360 |
23.23% |
|
Dividend income |
146,286 |
114,718 |
27.52% |
|
Foreign exchange income |
1,242,423 |
943,945 |
31.62% |
|
Gain on securities |
37,310 |
134,477 |
-72.26% |
|
Other income |
149,766 |
179,585 |
-16.60% |
|
Total non-markup / interest income |
3,388,876 |
2,844,085 |
19.16% |
|
Total income |
14,245,190 |
11,776,589 |
20.96% |
|
Non mark-up / interest expenses |
|
|
|
|
Operating expenses |
8,757,364 |
7,703,608 |
13.68% |
|
Workers' Welfare Fund |
31,042 |
87,324 |
-64.45% |
|
Other charges |
32,908 |
296 |
11017.57% |
|
Total non-markup / Interest expenses |
8,821,314 |
7,791,228 |
13.22% |
|
Profit before provisions |
5,423,876 |
3,985,361 |
36.09% |
|
Provisions and write offs – net |
238,736 |
-402,493 |
|
|
Profit before taxation |
5,185,140 |
4,387,854 |
18.17% |
|
Taxation |
2,063,027 |
1,866,235 |
10.54% |
|
Profit after taxation – continued operations |
3,122,113 |
2,521,619 |
23.81% |
|
Basic earnings per share |
2.48 |
2.00 |
24.00% |
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