Faysal Bank posts profits worth Rs. 4.514 billion
MG News | February 28, 2018 at 02:58 PM GMT+05:00
Faysal Bank today released financial statements for the year ending December, 31st 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.
| Unconsolidated Profit and Loss Account - For the Year Ended, December 30th 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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