Earning Review: JS Bank reports half yearly losses of Rs 574.6 million

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MG News | August 27, 2019 at 03:45 PM GMT+05:00

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August 27, 2019 (MLN): JS Bank Limited (JSBL) has observed losses of Rs. 574.6 million for the half year ended June 30, 2019, as compared to profits of Rs. 723.98 million earned in the same period last year. The bank reported its loss per share (LPS) at Rs 0.42.

Even though the company enjoyed an increase in interest income by 36% but a significant increase in interest expenses by 60% caused the Net Interest income to decline by 15%.

During the period, the bank observed 17.38% decline in non-interest income mainly due to significant reduction in fee and commission income and income earned from foreign exchange operations.

Consolidated Profit and Loss Account for the half year ended June 30th 2019 ('000 Rupees)

 

Jun-19

Jun-18

% Change

Mark-up/return/interest earned

 19,106,531

 14,045,657

36.03%

Mark-up/return/interest expensed

 15,321,030

 9,584,412

59.85%

Net mark-up/interest income

 3,785,501

 4,461,245

-15.15%

Non mark-up/interest income

 

 

 

Fee and commission income

 1,606,586

 1,812,236

-11.35%

Dividend income

 126,124

 97,007

30.02%

Foreign exchange income

 183,870

 240,038

-23.40%

Gain from derivatives

 301,903

 80,756

273.85%

Gain / (loss) on sale of securities

 (368,999)

 44,723

 

Share of profit for associates

 13,804

 4,186

229.77%

Other income

 81,159

 74,545

8.87%

Total non-mark-up/interest income

 1,944,447

 2,353,491

-17.38%

Total income

 5,729,948

 6,814,736

-15.92%

Non mark-up/interest expenses

 

 

 

Operating expenses

 5,783,747

 5,441,560

6.29%

Workers welfare fund

 566

 24,291

-97.67%

Other charges

 248

 532

-53.38%

Total non-mark-up/interest expenses

 5,784,561

 5,466,383

5.82%

Profit before provisions

 (54,613)

 1,348,353

-

Provisions and write offs - net

 593,653

 131,737

350.63%

Extra-ordinary/ unusual items

 -  

 -  

-

Profit before taxation

 (648,266)

 1,216,616

-

Taxation

 73,620

 (492,636)

-

Profit after taxation

 (574,646)

 723,980

-

Earnings per share - basic (rupees)

(0.42)

0.43

-

 

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