Earning Review: Bank of Khyber suffers at the hands of fall in NII

MG News | August 22, 2019 at 02:08 PM GMT+05:00

0:00

August 22, 2019 (MLN): The Bank of Khyber has declared net earnings of Rs. 498 million (EPS: Rs. 0.5) for the half year ended June 30, 2019, which is 35.9% lower than the earnings of same period previous year.

The company was primarily led down by fall in net interest income by 11.8%. Decline in fee income by 13.17% and dividend income by 79% just contributed further to the bank’s misery. As a result of these adverse movements, the total income fell by 11%.

On the other hand, the net interest expense grew by merely 3.2%.

Nonetheless, the fall in income tax expense by 71% helped in restricting further decline in net earnings.

Profit and loss account for the half year ended June 30, 2019 (Rupees'000)
	June, 2019	June, 2018	% Change
Mark-up/return/interest earned	10,272,226	7,134,096	43.99%
Mark-up/return/interest expensed	7,810,267	4,343,165	79.83%
Net mark-up/ interest income	2,461,959	2,790,931	-11.79%
NON MARK-UP/INTEREST INCOME
Fee and commission income	195,388	225,024	-13.17%
Dividend income	5,435	26,542	-79.52%
Foreign exchange income	89,197	54,629	63.28%
(Loss) / gain on securities - net	2,192	11,232	-80.48%
Other income	59,760	53,192	12.35%
Total non-markup / interest income	351,972	370,619	-5.03%
Total income	2,813,931	3,161,550	-11.00%
NON MARK-UP/INTEREST EXPENSE
Operating expenses	2,027,492	1,965,370	3.16%
Other charges	2,287	130	1659.23%
Total non-markup/interest expenses	2,029,779	1,965,500	3.27%
PROFIT BEFORE PROVISIONS	784,152	1,196,050	-34.44%
Provisions and write offs - net	145,645	-71,158
PROFIT BEFORE TAXATION	638,507	1,267,208	-49.61%
Taxation	140,343	490,856	-71.41%
PROFIT AFTER TAXATION	498,164	776,352	-35.83%
Basic and diluted earnings per share	0.50	0.78	-35.90%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	134,299.77 290.06M	0.39% 517.42
ALLSHR	84,018.16 764.12M	0.48% 402.35
KSE30	40,814.29 132.59M	0.33% 132.52
KMI30	192,589.16 116.24M	0.49% 948.28
KMIALLSHR	56,072.25 387.69M	0.32% 180.74
BKTi	36,971.75 19.46M	-0.05% -16.94
OGTi	28,240.28 6.19M	0.21% 58.78

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,140.00	119,450.00 115,635.00	4270.00 3.75%
BRENT CRUDE	70.63	70.71 68.55	1.99 2.90%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.10 1.14%
ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	0.40 0.37%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.75	68.77 66.50	2.18 3.27%
SUGAR #11 WORLD	16.56	16.60 16.20	0.30 1.85%