October 25, 2018 (MLN): Habib Metropolitan Bank (HMB) has earned Rs.1.3 billion higher profits during the three quarters ended on September 30, 2018, over the corresponding period of prior year.
HMB’s official report on its financial earnings has shown that the company earned Rs.1.7 billion higher net mark-up/interest income after provisions, during the period.
Meanwhile, as some non-mark-up/interest inflows rose, others suffered a decline. The net effect of all led to an 8.9% increase in total non-mark-up/interest income.
On the flip side, administrative expenses mounted substantially, by Rs.662 million.
Fortunately for HMB, the inflows outshone the outflows as the Bank made reassuring profits during the period (+39%).
Habib Metropolitan Bank’s basic and diluted earnings per share have increased from Rs.3.11 per share to Rs.4.32 per share.
|
Profit and Loss Account for the nine months ended on September 30th 2018 (Rupees in '000) |
|||
|---|---|---|---|
|
|
Sep-18 |
Sep-17 |
% Change |
|
Mark-up/return/interest earned |
30,562,758 |
24,695,877 |
23.76% |
|
Mark-up/return/interest expensed |
(18,810,669) |
(14,309,188) |
31.46% |
|
Net mark-up/interest income |
11,752,089 |
10,386,689 |
13.15% |
|
Provision against non-performing loans and advances – net |
333,095 |
643,122 |
-48.21% |
|
Provision for diminution in the value of investments – net |
55,013 |
84,749 |
-35.09% |
|
Bad debts written off directly |
– |
– |
|
|
Net mark-up/interest income after provisions |
11,363,981 |
9,658,818 |
17.65% |
|
NON MARK-UP/INTEREST INCOME |
|
|
|
|
Fee, commission and brokerage income |
2,757,475 |
2,526,593 |
9.14% |
|
Dividend income |
60,509 |
395,734 |
-84.71% |
|
Income from dealing in foreign currencies – net |
1,126,667 |
800,063 |
40.82% |
|
Gain on sale/redemption of securities – net |
97,499 |
307,079 |
-68.25% |
|
Unrealized gain/(loss) or revaluation of investments classified as “held-for-trading” – net |
– |
– |
|
|
Other income |
531,656 |
171,613 |
209.80% |
|
Total non-mark-up/interest income |
4,573,806 |
4,201,082 |
8.87% |
|
NON MARK-UP/INTEREST EXPENSES |
|
|
|
|
Administrative expenses |
8,478,839 |
7,816,648 |
8.47% |
|
Other provisions/write-offs |
(39,520) |
153,000 |
|
|
Other charges |
159,172 |
147,145 |
8.17% |
|
Total non-mark-up/interest expenses |
8,598,491 |
8,116,793 |
5.93% |
|
Extra-ordinary / unusual items |
– |
– |
|
|
Profit before taxation |
7,339,296 |
5,743,107 |
27.79% |
|
Taxation |
(2,808,729) |
(2,487,458) |
12.92% |
|
Profit after taxation |
4,530,567 |
3,255,649 |
39.16% |
|
Earnings per share – Basic and Diluted (in Rupees) |
4.32 |
3.11 |
38.91% |
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