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, 30th 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, 30th 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 30th 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.