October 15, 2019 (MLN): Habib Bank Limited has announced its financial results for the nine months ended on September 30, 2019, as per which, it has posted net profits of Rs. 8.8 billion (EPS: Rs. 5.89), i.e. around 10.9% lower than the same period of last year.
While the markup interest income of the bank depicted positive growth due to higher yields, the non-markup interest income slumped by 4.3% on account of losses associated with hedging instruments and sale of securities.
The operating expenses of the bank surged by 22% as a result of ongoing business transformation.
An interim Cash Dividend for the quarter ended on September 30, 2019 was also announced at Rs. 1.25 per share, i.e. 12.5%. This is in addition to the interim Cash Dividend already paid at Rs. 2.5 per share i.e. 25%.
|
Consolidated Profit and Loss Account for the nine months ended September 30,2019 (Rupees '000) |
|||
|---|---|---|---|
|
Sep-19 |
Sep-18 |
% Change |
|
|
Mark-up/return/profit/interest earned |
182,631,441 |
117,074,265 |
56.00% |
|
Mark-up/return/profit/interest expensed |
108,573,082 |
56,962,724 |
90.60% |
|
Net mark-up/return/profit/interest income |
74,058,359 |
60,111,541 |
23.20% |
|
Non mark-up/interest income |
|||
|
Fee, commission and brokerage income |
15,456,596 |
12,739,687 |
21.33% |
|
Dividend income |
367,646 |
636,969 |
-42.28% |
|
Share of profits of associates and joint venture |
2,212,652 |
2,324,938 |
-4.83% |
|
Foreign Exchange Income |
302,575 |
444,090 |
-31.87% |
|
(Loss) / income from derivatives |
(657,532) |
(361,337) |
81.97% |
|
(Loss) / gain on securities |
(2,411,531) |
357,300 |
|
|
Other income |
506,627 |
354,547 |
42.89% |
|
Total non-mark-up /interest income |
15,777,033 |
16,496,194 |
-4.36% |
|
Total Income |
89,835,392 |
76,607,735 |
17.27% |
|
Non mark-up/interest expenses |
|||
|
Operating expenses |
(68,969,691) |
(56,266,809) |
22.58% |
|
Other charges |
(404,057) |
(465,994) |
-13.29% |
|
Workers' Welfare Fund |
(393,094) |
(330,051) |
19.10% |
|
Total non-mark-up/interest expenses |
(69,766,842) |
(57,062,854) |
22.26% |
|
Profit/(loss) before taxation |
20,068,550 |
19,544,881 |
2.68% |
|
Provision and write offs-net |
(1,783,344) |
(1,863,380) |
|
|
Taxation |
(9,460,517) |
(7,771,355) |
21.74% |
|
Profit/(loss) after taxation |
8,824,689 |
9,910,146 |
-10.95% |
|
Earnings per share – basic and diluted (Rupees) |
5.89 |
6.57 |
-10.35% |
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