February 23, 2022 (MLN): Habib Metropolitan Bank (PSX: HMB) has wrapped the year 2021 on a positive note as the bank has made profits of Rs13.86 billion around 12.4% higher than the figures reported in CY20, the bank’s filing on PSX showed today.
The earnings per share for the same period stood at Rs12.90, which is around 12% higher than Rs11.50 recorded in the same period of last year.
In conjunction with the results, the bank also announced a final cash dividend for the year ended at Rs3 per share i.e. 30%. This is in addition to the interim dividend already paid at Rs2 per share i.e. 20%, a total of Rs5 per share i.e. 50%.
The net interest income saw a meagre increase of 2.5% YoY to stand at Rs30bn in CY21 due to a drop in interest income by 3.6% YoY.
On the other hand, the bank managed to lift its non-interest income by 15.6% YoY to clock in at Rs11.23bn on account of higher fee and commission income which stood at Rs6.96bn. However, the dividend income and foreign exchange income have tumbled by 15.92% YoY and 9.3% YoY, respectively.
The operating expenses of the bank have increased by 15.63%, while the workers' welfare fund dropped by 30% YoY in 2021.
Meanwhile, the bank witnessed a notable decline in its provisions to clock in at Rs2bn, down by 43% YoY compared to Rs3.6bn in 2020.
On the taxation front, the bank paid Rs8.12bn in terms of taxes, observing around a 1% increase compared to the taxes paid in 2020.
|
Consolidated Profit and Loss Account for the Year ended December 31, 2021 (Rupees in '000) |
|||
|---|---|---|---|
|
|
Dec-21 |
Dec-20 |
% Change |
|
Mark-up/return/interest earned |
74,358,956 |
77,121,348 |
-3.58% |
|
Mark-up/return/interest expensed |
(44,200,365) |
(47,697,536) |
-7.33% |
|
Net mark-up/interest income |
30,158,591 |
29,423,812 |
2.50% |
|
NON MARK-UP/INTEREST INCOME |
|
|
|
|
Fee and commission income |
6,966,942 |
5,440,486 |
28.06% |
|
Dividend income |
161,287 |
191,828 |
-15.92% |
|
Foreign exchange income |
3,706,963 |
4,086,904 |
-9.30% |
|
Gain /(loss) on securities |
102,026 |
(44,339) |
– |
|
Other income |
296,361 |
42,392 |
599.10% |
|
Total non mark-up/interest income |
11,233,579 |
9,717,271 |
15.60% |
|
Total income |
41,392,170 |
39,141,083 |
5.75% |
|
NON MARK-UP/INTEREST EXPENSES |
|
|
|
|
Operating expenses |
16,857,711 |
14,573,245 |
15.68% |
|
Workers Welfare Fund |
323,463 |
463,452 |
-30.21% |
|
Other charges |
170,918 |
97,092 |
76.04% |
|
Total non mark-up/interest expenses |
17,352,092 |
15,133,789 |
14.66% |
|
Profit before provisions |
24,040,078 |
24,007,294 |
0.14% |
|
(Provisions)/reversal and write offs – net |
(2,052,083) |
(3,621,049) |
-43.33% |
|
Profit before taxation |
21,987,995 |
20,386,245 |
7.86% |
|
Taxation |
(8,125,724) |
(8,050,797) |
0.93% |
|
Profit after taxation |
13,862,271 |
12,335,448 |
12.38% |
|
Earnings per share – Basic and Diluted (in Rupees) |
12.90 |
11.50 |
12.17% |
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