Habib Metropolitan Bank's annual bottom-line income inches up by 9.5%
MG News | February 22, 2019 at 09:47 AM GMT+05:00
February 22, 2019 (MLN): Habib Metropolitan Bank (HMB)’s cumulative gains for the year 2018 have risen by 9.5% over the year as it notes down its net income for the year at Rs.6.4 billion and EPS at Rs.5.9.
The bank’s net mark-up/interest income increased by 16.9% over the year while its non-mark-up/interest income inched up by a mere 4% bringing a positive change of 13% in the total income which logged in at Rs.22.7 billion.
Meanwhile, the overall expenses although hiked up by 12%, were recorded at Rs.12 billion, bringing the profits before provision to Rs.10.7 billion, during the period.
In addition to this, HMB has reported a Final Cash Dividend at Rs.2 per share i.e. 20%
| Consolidated Profit and Loss Account for year ended December 2018 (Rupees in '000) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Mark-up/return/interest earned | 43,060,826 | 34,201,299 | 25.90% |
| Mark-up/return/interest expensed | (26,406,518) | (19,949,502) | 32.37% |
| Net mark-up/interest income | 16,654,308 | 14,251,797 | 16.86% |
| NON MARK-UP/INTEREST INCOME |
|
|
|
| Fee and commission income | 3,846,716 | 3,488,764 | 10.26% |
| Dividend income | 103,198 | 430,452 | -76.03% |
| Foreign exchange income | 1,498,410 | 1,171,725 | 27.88% |
| Income/(loss) from derivatives | - | - |
|
| Gain /(loss) on securities | 84,805 | 422,886 | -79.95% |
| Other income | 566,629 | 351,637 | 61.14% |
| Total non-mark-up/interest income | 6,099,758 | 5,865,464 | 3.99% |
| Total income | 22,754,066 | 20,117,261 | 13.11% |
| NON MARK-UP/INTEREST EXPENSES |
|
|
|
| Operating expenses | 11,797,688 | 10,534,809 | 11.99% |
| Workers Welfare Fund | 197,947 | 180,945 | 9.40% |
| Other charges | 31,105 | 3,229 | 863.30% |
| Total non-mark-up/interest expenses | 12,026,740 | 10,718,983 | 12.20% |
| Profit before provisions | 10,727,326 | 9,398,278 | 14.14% |
| (Provisions)/reversal and write offs - net | (382,427) | 113,027 |
|
| Extra-ordinary / unusual items | - | - |
|
| Profit before taxation | 10,344,899 | 9,511,305 | 8.76% |
| Taxation | (3,923,994) | (3,646,386) | 7.61% |
| Profit after taxation | 6,420,905 | 5,864,919 | 9.48% |
| Earnings per share - Basic and Diluted (in Rupees) | 5.90 | 5.41 | 9.06% |
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