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

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

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%

Copyright Mettis Link News

Posted on: 2018-10-19T16:28:00+05:00

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