October 25, 2019 (MLN): Habib Metropolitan Bank Limited (HMB) has announced its financial results for the nine months ended on September 30, 2019. As per the results, the bank has witnessed a 12% growth in its net-profits which stood at Rs. 5.28 billion as compared to the corresponding period of last year.
The bank’s interest income increased by 66.65%, but more than the proportionate increase in the interest expenses which was 2 times higher than last year’s expenses, made the net interest income grow only by 10.47% to Rs 13.3 billion.
On the other hand, non-interest income of the bank surged by 27.72% which was driven by 2.4 times YoY higher income from foreign exchange and 30.10% YoY higher fee and commission income.
Moreover, total non-interest expenses escalated by 12.02%, where other charges contributed by 3.38 times higher than the corresponding period of last year and operating expenses by 11.48% YoY.
Other than this, HMB’s basic and diluted earnings per share have been reported at Rs.4.81 per share while those recorded last year were Rs.4.34 per share.
Consolidated Profit and Loss Account for the Nine Months ended on September 30, 2019 (Rupees in '000)
|
|||
---|---|---|---|
Sep-19 |
Sep-18 |
% Change |
|
Mark-up/return/interest earned |
51,619,340 |
30,974,859 |
66.65% |
Mark-up/return/interest expensed |
(38,305,982) |
(18,923,417) |
|
Net mark-up/interest income |
13,313,358 |
12,051,442 |
10.47% |
NON-MARK-UP/INTEREST INCOME |
|||
Fee and commission income |
3,617,428 |
2,780,435 |
30.10% |
Dividend income |
66,619 |
68,130 |
-2.22% |
Foreign exchange income |
2,680,476 |
1,126,667 |
|
Income/(loss) from derivatives |
– |
– |
|
Gain /(loss) on securities |
(865,344) |
93,383 |
|
Other income |
317,489 |
485,720 |
-34.64% |
Total non-mark-up/interest income |
5,816,668 |
4,554,335 |
27.72% |
Total income |
19,130,026 |
16,605,777 |
15.20% |
NON MARK-UP/INTEREST EXPENSES |
|||
Operating expenses |
9,599,945 |
8,611,001 |
11.48% |
Workers Welfare Fund |
177,985 |
148,269 |
20.04% |
Other charges |
51,340 |
15,172 |
|
Total non-mark-up/interest expenses |
9,829,270 |
8,774,442 |
12.02% |
Profit before provisions |
9,300,756 |
7,831,335 |
18.76% |
(Provisions)/reversal and write offs – net |
(295,907) |
(297,097) |
|
Extra-ordinary / unusual items |
– |
– |
|
Profit before taxation |
9,004,849 |
7,534,238 |
19.52% |
Taxation |
(3,724,221) |
(2,815,780) |
32.26% |
Profit after taxation |
5,280,628 |
4,718,458 |
11.91% |
Earnings per share – Basic and Diluted (in Rupees) |
4.81 |
4.34 |
10.83% |
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