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CPI Preview: Inflation to fall below 14% YoY in May

Standard Chartered Bank reaps 46% growth in net profits

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October 29, 2019 (MLN): Standard Charted Bank (Pakistan) Limited announced its result for the quarter ended September 30, 2019 today, in which it has stated Profit after Tax of Rs. 11.4 billion (EPS: Rs. (2.95), i.e. 46.7% higher than the earnings reported in same period of last year.  

The first quarter of current Fiscal year turned out to be good for the bank, as both of its income generating heads, i.e. Net Interest Income and Non-markup Interest Income depicted growth of 51.5% and 19.3% respectively.

On top of that, the total non-core expense remained somewhat the same, which further elevated the financial health of the bank.

Profit and Loss Account for the nine months ended on September 30, 2019 ('000 Rupees)

 

Sep-19

Sep-18

% Change

Mark-up/return/interest earned

37,336,079

21,744,187

71.71%

Mark-up/return/interest expenses

(16,807,732)

(8,197,622)

105.03%

Net mark-up/return/interest income

20,528,347

13,546,565

51.54%

NON MARK-UP/NON INTEREST INCOME

     

Fees, commission and brokerage income

2,706,035

2,986,488

-9.39%

Dividend income

   

Foreign exchange income

3,760,923

3,245,793

15.87%

Income / (loss) from derivatives

604,515

(567,452)

-206.53%

Gain / (loss) on securities

944,457

1,028,485

-8.17%

Other income

73,931

83,020

-10.95%

Total non-mark-up/ non-interest income

8,089,861

6,776,334

19.38%

Total Income

28,618,208

20,322,899

40.82%

NON MARK-UP/NON INTEREST EXPENSES

     

Operating expenses

(7,984,153)

(8,366,731)

-4.57%

Workers welfare fund

(578,242)

(252,910)

128.64%

Other charges

(32,508)

(5,507)

490.30%

Total non-mark-up/ non-interest expenses

(8,594,903)

(8,625,148)

-0.35%

Profit before provisions

20,023,305

11,697,751

71.17%

(Provisions) / recovery and write offs – net

(250,518)

947,748

 

Extraordinary/unusual items

 

Profit before taxation

19,772,787

12,645,499

56.36%

Taxation

(8,340,189)

(4,871,572)

71.20%

Profit after taxation

11,432,598

7,773,927

47.06%

Basic and diluted earnings per share (Rupees)

2.95

2.01

46.77%

 

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Posted on: 2019-10-29T12:08:00+05:00

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