Habib Bank Limited profits fall by 48.37 percent to Rs. 4.687 billion

By MG News | April 27, 2018 at 02:45 PM GMT+05:00

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Habib Bank Limited (HBL) today announced financial results for the quarter ending 31 March, 2018 reporting Markup Earned worth Rs. 37.023 billion. Furthermore, the company’s net mark-up after provisions during the outgoing three months rose by 1.84 percent to reach 20.168 billion.

Among other heads, Fee Commission and Brokerage Income went down by 5.94 percent during the period, Dividend Income took a dip downwards by 1.86 percent and Income from foreign currencies also went down by 1.86 percent during the reported period.

On the expenses front, total non-mark-up expenses during the quarter rose by 27.71 percent to clock in at Rs. 17.963 billion.

Habib Bank Limited reported profit after taxation at Rs. 4.867 billion down by 48.37 percent from 9.079 billion last year translating into an EPS of Rs. 3.12 vs. an EPS of Rs 6.16 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Mark-up/return/interest earned	37,023,051	34,932,125	5.99%
Net mark-up/return/interest earned after provisions	20,168,594	19,804,509	1.84%
Fee, commission and brokerage income	4,508,883	4,793,480	-5.94%
Dividend Income	169,676	177,967	-4.66%
Income from Foreign Currencies	657,165	669,634	-1.86%
Capital gain on sale of securities - net	100,228	1,275,413	-92.14%
Other income	23,853	182,237	-86.91%
Total non-mark-up/interest income	25,333,119	28,117,882	-9.90%
Administrative Expenses	17,724,046	13,763,669	28.77%
Other provisions - net	93,601	37,525	149.44%
Other charges/reversals	6,104	101	5943.56%
Total non-mark-up/interest expenses	17,963,460	14,065,296	27.71%
Profit before Taxation	7,369,659	14,052,586	-47.56%
Taxation	2,682,015	4,972,865	-46.07%
Profit after Taxation	4,687,644	9,079,721	-48.37%
EPS - Basic and diluted	3.12	6.16	-49.35%

Company release on Earnings Report can be accessed here.

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