National Bank of Pakistan suffers nearly 11% decline in net earnings

August 28, 2019 (MLN): National Bank of Pakistan has stated its Profit after Tax for the half year ended June 3, 2019, at Rs. 11.3 billion (EPS: Rs. 5.34), i.e. nearly 10.7% lower than the earnings of same period last year.

Going by the report produced by the bank, the Net Interest Income, as well as the Non Interest Income witnessed an increase of 17% each. On the other hand, the total expenses grew by almost 10% on account of abrupt increase in non-core expenses.  

Another notable factor in the report issued by the bank was income tax expense, which increased by 96% to Rs. 9.3 billion during the said period.

Profit and loss account for the half year ended June 30, 2019 (Rupees'000)

 

June, 2019

June, 2018

% Change

Mark-up / return / interest earned

97,786,919

66,526,786

46.99%

Mark-up / return / interest expensed

62,115,159

36,259,724

71.31%

Net mark-up / return / interest income

35,671,760

30,267,062

17.86%

NON MARK-UP / INTEREST INCOME

 

 

 

Fee and commission income

10,565,043

9,819,275

7.59%

Dividend income

1,728,716

1,120,309

54.31%

Foreign exchange income

3,670,695

1,834,144

100.13%

Gain on securities – net

353,826

2,448,285

-85.55%

Share of loss from joint venture – net of tax

-39,191

-11147

251.58%

Share of (loss) / profit from associates – net of tax

-29,371

17,988

 

Other income

2,817,432

976,579

188.50%

Total non-mark-up / interest income

19,067,150

16,205,433

17.66%

Total income

54,738,910

46,472,495

17.79%

NON MARK-UP / INTEREST EXPENSES

 

 

 

Operating expenses

28,645,509

26,147,876

9.55%

Other charges

93,374

9,757

856.99%

Total non-markup / interest expenses

28,738,883

26,157,633

9.87%

Profit before provisions

26,000,027

20,314,862

27.99%

Provisions and write offs – net

5,259,684

2,798,471

87.95%

PROFIT BEFORE TAXATION

20,740,343

1,751,639

1084.05%

Taxation

9,361,392

4,773,228

96.12%

PROFIT AFTER TAXATION

11,378,951

12,743,162

-10.71%

Earnings per share – basic and diluted

5.34

5.95

-10.25%

 

Copyright Mettis Link News

Posted on: 2019-08-28T14:41:00+05:00

29648