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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