National Bank reports 16.2% fall in net earnings

May 22, 2019 (MLN): National Bank of Pakistan announced its financial results for the quarter ended March 31, 2019 on Wednesday, which shows that the bank has earned a Profit after Tax of Rs. 4.2 billion, i.e. around 16.2% lower as compared to Rs. 5.1 billion reported in same period of last year.

The Basic and Diluted earnings of the bank stood at Rs. 2 for the aforementioned period, as compared to Rs. 2.38 reported in corresponding period last year.

The fall in net earnings was a result of higher tax expenses, which transformed a positive change in PBT (+13.05%) into negative change in PAT (-16.26%).

The total income of the bank displayed a growth of 17.75%, whereas the total expenses jumped by 3.34%.

The bank did not recommended any Cash Dividend, Bonus issue / Right Shares or any other entitlement.

Consolidated financial results for the quarter ended March 31, 2019 ('000 Rupees)

 

Mar-19

Mar-18

% Change

Mark-up/return/interest earned

45,834,763

31,452,921

45.72%

Mark-up/return/interest expensed

30,220,126

17,263,619

75.05%

Net mark-up/interest income

15,614,637

14,189,302

10.05%

NON MARK-UP/INTEREST INCOME

   

Fee and commission income

4,398,051

4,345,152

1.22%

Dividend income

1,017,955

317,261

220.86%

Foreign Exchange income

1,900,284

351,046

441.32%

Gain on securities – net

101,907

909,967

-88.80%

Share of (loss)/profit from joint venture

(16,015)

43,296

 

Share of(loss)/profit from associates

25,423

53,075

-52.10%

Other income

1,282,017

448,642

185.76%

Total non-mark-up/interest income

8,709,622

6,468,440

34.65%

Total Income

24,324,259

20,657,742

17.75%

NON MARK-UP/INTEREST EXPENSES

   

Operating expenses

13,244,195

12,822,536

3.29%

Workers welfare fund

 

Other charges

8,598

2,244

283.16%

Total non-mark-up/interest expenses

13,252,793

12,824,780

3.34%

Profit before provisions

11,071,466

7,832,962

41.34%

Provisions and write offs – net

2,213,244

(2,552)

 

Profit before taxation

8,858,222

7,835,514

13.05%

Taxation

4,580,576

2,727,397

67.95%

Profit after taxation

4,277,646

5,108,117

-16.26%

Basic and diluted earnings per share

2.00

2.38

-15.97%

 

Copyright Mettis Link News

 

Posted on: 2019-05-22T14:08:00+05:00

28100