February 21, 2019 (MLN): The profitability of Faysal Bank Limited (FABL) has increased by 8.2% to Rs4.5 billion for the year ended on December 2018.
This slight increase in profits are attributable to increase in interest incomes at a higher margin than the increase in interest expenses.
During the year, bank’s total income increased by 15.79% and locked in at Rs22.6 bln while total expenses increased by 15.65% to Rs14.77 bln.
The bank reported its earning per share at Rs3.22 per share.
Profit and loss account for the year ended December 31 2018 (Rupees'000) |
|||
---|---|---|---|
|
Dec-18 |
Dec-17 |
% Change |
Mark-up / return / interest earned |
35,201,159 |
28,766,119 |
22.37% |
Mark-up / return / interest expensed |
18,924,859 |
14,830,923 |
27.60% |
Net mark-up / interest income |
16,276,300 |
13,935,196 |
16.80% |
NON MARK-UP / INTEREST INCOME |
|
|
|
Fee and commission income |
3,554,907 |
3,086,639 |
15.17% |
Dividend income |
170,110 |
159,514 |
6.64% |
Foreign exchange income |
1,970,720 |
1,385,057 |
42.28% |
Income / (loss) from derivatives |
118,641 |
-58,936 |
|
Gain on securities |
50,627 |
807,210 |
-93.73% |
Other income |
524,231 |
259,780 |
101.80% |
Total non-markup / interest income |
6,389,236 |
5,639,264 |
13.30% |
Total income |
22,665,536 |
19,574,459 |
15.79% |
NON MARK-UP / INTEREST EXPENSES |
|
|
|
Operating expenses |
14,510,447 |
12,607,943 |
15.09% |
Workers welfare fund |
172,758 |
154,382 |
11.90% |
Other charges |
90,275 |
11,761 |
667.58% |
Total non-markup / interest expenses |
14,773,480 |
12,774,086 |
15.65% |
Profit before provisions |
7,892,056 |
6,800,373 |
16.05% |
Reversal of provision and recoveries against written-off debts – net |
-421,992 |
-491,802 |
-14.19% |
Share of loss of associate |
-11,804 |
-22,863 |
-48.37% |
Extra ordinary / unusual items |
|
|
|
PROFIT BEFORE TAXATION |
8,302,244 |
7,269,312 |
14.21% |
Taxation |
3,416.133 |
2,754,526 |
-99.88% |
PROFIT AFTER TAXATION |
4,886,111 |
4,514,786 |
8.22% |
Basic / diluted earnings per share |
3.22 |
2.97 |
8.42% |
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