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% |
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