- 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.
|
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.
