Habib Bank Ltd. profit falls 94% to Rs. 2.16 billion

MG News | October 20, 2017 at 01:57 PM GMT+05:00

0:00

Habib Bank Ltd. Total Net mark-up/return/interest income after provisions for the period decreased by 0.31%, amounting to a total of 61 billion Rupees during the Quarter ended September, 30^th 2017
Company’s Profit before extra-ordinary item and taxation for the period decreased by 2.34%

In pursuance of the penalty imposed by New York State Department of Financial Services, Habib Bank ltd. during the quarter under review paid a total of 23.71 billion rupees as part of the settlement between the two parties in September last month. The penlaty payment brought down the losses by more than 94% to 1.4 billion Rupees during the period.

The company because of paying the penalty suffered losses of more than 14 billion during the quarter ended September, 30^th 2017. However, analysts opine that the penalty and the subsequent losses emanating from it have already been priced into the HBL stocks.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine months Ended, September 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net mark-up/return/interest income	61,975,712	62,229,506	-0.41%
Net mark-up/return/interest income after provisions	60,897,502	61,088,599	-0.31%
Total non-mark-up/interest income	26,294,755	22,338,752	17.71%
Total non-mark-up/interest expenses	44,717,841	39,933,680	11.98%
Profit before extra-ordinary/unusual item and taxation	42,474,416	43,493,671	-2.34%
Extraordinary/Unusual Item	23,717,115	-
Profit before Taxation	18,757,301	43,493,671	-56.87%
Taxation	17,202,873	17,738,966	-3.02%
Profit after Taxation	1,554,428	25,754,705	-93.96%
EPS - Basic & diluted	0.87	17.47	-95.02%

Company release on Earnings Report can be accessed here.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	157,399.93 292.95M	0.78% 1222.11
ALLSHR	96,439.33 1,197.45M	0.85% 808.94
KSE30	48,001.78 151.77M	0.68% 323.31
KMI30	231,838.94 200.87M	0.94% 2156.72
KMIALLSHR	64,853.12 575.37M	0.76% 486.35
BKTi	42,319.42 70.46M	0.95% 396.62
OGTi	31,615.08 10.79M	-0.38% -120.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,285.00	118,295.00 116,115.00	1460.00 1.26%
BRENT CRUDE	67.59	68.01 67.50	-0.36 -0.53%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.50	0.00 0.00	-0.05 -0.05%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.33	63.82 63.24	-0.72 -1.12%
SUGAR #11 WORLD	16.22	16.27 16.19	-0.05 -0.31%