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.
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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% |
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