Sharp decline in gains pull down Bank of Khyber's profits by 32.55%

By MG News | October 19, 2018 at 04:28 PM GMT+05:00

0:00

October 19, 2018 (MLN): Bank of Khyber’s consolidated profits for the nine month period ended September 30^th, 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%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	132,724.13 98.16M	-0.51% -679.06
ALLSHR	83,022.05 543.11M	-0.20% -166.01
KSE30	40,400.33 35.28M	-0.62% -251.12
KMI30	191,117.65 39.67M	-0.50% -966.27
KMIALLSHR	55,725.89 278.31M	-0.22% -121.80
BKTi	36,223.65 6.20M	-0.55% -199.22
OGTi	28,287.49 7.25M	-0.53% -150.12

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,225.00	109,545.00 108,625.00	10.00 0.01%
BRENT CRUDE	70.10	70.13 69.85	-0.05 -0.07%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.27	68.31 67.78	-0.06 -0.09%
SUGAR #11 WORLD	16.15	16.37 16.10	-0.13 -0.80%