Standard Chartered Bank profits rises by 2.41 percent to Rs. 2.729 billion

MG News | April 27, 2018 at 12:01 PM GMT+05:00

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Standard Chartered Bank (SCBPL) today announced financial results for the quarter ending 31 March, 2018 reporting Markup Earned worth Rs. 6.783 billion. Furthermore, the company’s net mark-up after provisions during the outgoing three months fell by 2.24 percent to reach 4.657 billion.

Among other heads, Fee Commission and Brokerage Income went down by 2.24 percent during the period and Income from foreign currencies jumping by 40.62 percent during the reported period.

On the expenses front, total non-mark-up expenses during the quarter fell by 0.74 percent to clock in at 2.894 billion.

Standard Chartered Limited reported profit after taxation at Rs. 2.729 billion up by 2.41 percent from 2.665 billion last year translating into an EPS of Rs. 0.70 vs. an EPS of Rs 0.69 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Mark-up/return/interest earned	6,783,185	6,783,136	0.00%
Net mark-up/return/interest earned after provisions	4,657,670	4,789,585	-2.75%
Fee, commission and brokerage income	1,307,217	1,337,144	-2.24%
Dividend Income	-	875
Income from Foreign Currencies	836,509	594,871	40.62%
Capital gain on sale of securities - net	247,591	87,596	182.65%
Other income	46,879	247,808	-81.08%
Total non-mark-up/interest income	2,436,099	2,275,423	7.06%
Administrative Expenses	2,810,403	2,833,484	-0.81%
Other provisions - net	-	745
Other charges/reversals	84,367	83,486	1.06%
Total non-mark-up/interest expenses	2,894,770	2,916,228	-0.74%
Profit before Taxation	4,198,999	4,148,780	1.21%
Taxation	1,469,786	1,483,698	-0.94%
Profit after Taxation	2,729,213	2,665,082	2.41%
EPS - Basic and diluted	0.70	0.69	1.45%

Company release on Earnings Report can be accessed here.

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