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

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 30th 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.

Posted on: 2018-04-27T14:45:00+05:00