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HomeEquityStandard Chartered enjoys 36% improvement in bottom-line gains

Standard Chartered enjoys 36% improvement in bottom-line gains

February 27, 2019 (MLN): Standard Chartered Bank (SCBPL) announced its financial earnings for the year ended December 31, 2018 today, wherein it reported Profit after tax of Rs. 11.2 billion (EPS: Rs. 2.9), 36% higher YoY.

The increase in earnings was due to higher total income which rose by 12% to Rs 28.5 billion, as well as lower non-interest expenses which fell by 4% to Rs. 11.2 billion.

The bank also gave a final cash dividend of Rs. 1.5 per share i.e. 15%. This is in addition to the 7.5% interim dividend already paid in 2018.

Profit and loss account for the year ended December 31 2018 (Rupees'000)

 

Dec-18

Dec-17

% Change

Mark-up / return / interest earned

31,206,960

26,798,792

16.45%

Mark-up / return / interest expensed

-12,376,471

-10,300,723

20.15%

Net mark-up / interest income

18,830,489

16,498,069

14.14%

NON MARK-UP / INTEREST INCOME

 

 

 

Fee and commission income

4,156,666

4,414,208

-5.83%

Dividend income

 

875

 

Foreign exchange income

5,480,279

3,080,797

77.89%

Income / (loss) from derivatives

-1,336,192

527,693

 

Gain / (loss) on securities

1,278,642

893,201

43.15%

Other income

108,297

65,076

66.42%

Total non-mark-up / interest income

9,687,692

8,981,850

7.86%

Total Income

28,518,181

25,479,919

11.92%

NON MARK-UP / INTEREST EXPENSES

 

 

 

Operating expenses

-10,886,745

-11,456,760

-4.98%

Workers welfare fund

-369,546

-269,061

37.35%

Other charges

-33,774

-17,309

95.12%

Total non-mark-up / interest expenses

-11,290,065

-11,743,130

-3.86%

Profit before provisions

17,228,116

13,736,789

25.42%

Recovery / (provisions) and write offs – net

1,218,457

-283,664

 

PROFIT BEFORE TAXATION

18,446,573

13,453,125

37.12%

Taxation

-7,207,213

-5,207,963

38.39%

PROFIT AFTER TAXATION

11,239,360

8,245,162

36.31%

BASIC / DILUTED EARNINGS PER SHARE

2.90

2.13

36.15%

 

Copyright Mettis Link News

Posted on: 2019-02-27T11:49:00+05:00

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