October 19, 2018 (MLN): Bank of Khyber’s consolidated profits for the nine month period ended September 30th, 2018 withered by 32.55% due to a sharp decline in gain on sale of securities.
Even though the company enjoyed relatively better margins in terms of net mark-up return (+14.31%), the shrill decline in gain on sale of securities (-98.81%) caused the total non-mark-up income and subsequently the total return of bank to fall by 65.12% and 8.78% respectively.
Furthermore, the increase in total non-mark-up expenses by 9.4% also played a role in weighing down the company’s profits before taxes by 34.09%.
The taxation for the company recorded a decline of around 28.76%, which again failed to pull up the profits of the company by significant margin.
The company’s earnings per share were recorded at Rs.0.93 per share, indicating a drop of 32.61%.
|
Profit and loss account for nine months ended September 30th 2018 ('000 Rupees) |
|||
|---|---|---|---|
|
 |
Sep-18 |
Sep-17 |
% Change |
|
Mark-up / return / interest earned |
10,618,021 |
10,601,510 |
0.16% |
|
Mark-up / return / interest expensed |
-6,657,142 |
-7,136,439 |
-6.72% |
|
Net mark-up / return/ interest income |
3,960,879 |
3,465,071 |
14.31% |
|
Provision / (reversal) against loans and advances |
12,204 |
102,681 |
-88.11% |
|
(Reversal) in diminution for the value of investments |
-5,763 |
-8,378 |
-31.21% |
|
Bad debts written off directly |
65 |
 |
 |
|
Net mark-up / return / interest income after provisions |
3,954,373 |
3,370,768 |
17.31% |
|
NON MARK-UP / RETURN / INTEREST INCOME |
 |
 |
 |
|
Fee, commission and brokerage income |
295,561 |
219,094 |
34.90% |
|
Dividend income |
32,553 |
41,910 |
-22.33% |
|
Income from dealing in foreign currencies |
107,166 |
54,586 |
96.33% |
|
Gain on sale of securities – net |
13,794 |
1,156,717 |
-98.81% |
|
Other income. |
95,328 |
88,658 |
7.52% |
|
Total non-mark-up / return / interest income |
544,402 |
1,560,965 |
-65.12% |
|
Total return/Interest income |
4,498,775 |
4,931,733 |
-8.78% |
|
NON MARK-UP / RETURN / INTEREST EXPENSES |
 |
 |
 |
|
Administrative expenses |
2,952,399 |
2,726,564 |
8.28% |
|
Other provisions |
 |
-7,420 |
 |
|
Other charges |
22,145 |
-87 |
 |
|
Total non-mark-up / return / interest expenses |
2,974,544 |
2,719,057 |
9.40% |
|
PROFIT BEFORE TAXATION |
1,524,231 |
2,312,676 |
-34.09% |
|
`Taxation |
596,524 |
837,331 |
-28.76% |
|
PROFIT AFTER TAXATION |
927,707 |
1,375,345 |
-32.55% |
|
Earnings per share – Basic and Diluted |
0.93 |
1.38 |
-32.61% |
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