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% |
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