Faysal Bank posts profits worth Rs. 4.514 billion

By MG News | February 28, 2018 at 02:58 PM GMT+05:00

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Faysal Bank today released financial statements for the year ending December, 31^st 2017. The company reported net income after provisions worth Rupees 14.456 billion whereas reporting a total of 4.514 billion worth of profits for the period.

The company during the period reported a 60 percent decline in Sale of Securities, 71 percent decline in other income and a 20 percent decline in total non-mark-up/interest income. Whereas, the bank’s total non-mark-up expenses went up by 8.5 percent during the period under review.

Faysal Bank Management reported profit after taxation at Rupees 4.514 billion rising by 4.95 percent during the period against last year’s profit of Rupees 4.301 billion.

The management reported earnings per share of rupees 3.42 per share against last year’s Rupees 3.26 per share.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR
Net mark-up/return/interest earned	28,791,306	26,200,691	9.89%
Net mark-up/return/interest earned after provisions	14,456,795	11,502,329	25.69%
Fee, commission and brokerage income	3,086,639	2,715,435	13.67%
Dividend Income	159,514	276,301	-42.27%
Income from Foreign Currencies	1,385,057	1,368,290	1.23%
Capital gain on sale of securities - net	845,659	2,092,759	-59.59%
Other income	141,060	490,566	-71.25%
Total non-mark-up/interest income	5,614,076	6,954,458	-19.27%
Administrative Expenses	12,607,943	11,660,533	8.12%
Other provisions - net	4,610	(28,298)	-116.29%
Other charges/reversals	166,143	143,865	15.49%
Total non mark-up/interest expenses	12,778,696	11,776,100	8.51%
Profit before Taxation	7,269,312	6,658,637	9.17%
Taxation	2,754,526	2,356,865	16.87%
Profit after Taxation	4,514,786	4,301,772	4.95%
EPS - Basic and diluted	3.42	3.26	4.91%

Company release on Earnings Report can be accessed here.

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