Standard Chartered reports an 18% decline in earnings during 2020

News Image

By MG News | February 26, 2021 at 10:43 AM GMT+05:00

0:00

February 26, 2021 (MLN): Standard Chartered Bank has earned profits of Rs. 13.13 billion (EPS: 3.39) during the year ended December 31, 2020, i.e. around 18% lower as compared to the earnings recorded in same period of last year.

The Bank also recommended a final cash dividend @ 27.5% i.e. Rs. 2.75 per share during the year.

The net interest income of SCBPL witnessed a 0.17% decline, whereas non-interest income saw a 17.54% growth. As a result, the total income of the bank grew by 4.77%.

On the other hand, the total non-interest expenses grew by 4.11%, owing to higher expenses and workers’ welfare fund. The bank also paid provisioning charges of Rs. 4.9 billion during the year.

Profit and Loss Account for the year ended on December 31, 2020 ('000 Rupees)

 

Dec-20

Dec-19

% Change

Mark-up/return/interest earned

52,221,970

52,240,154

-0.03%

Mark-up/return/interest expenses

(24,082,373)

(24,053,613)

0.12%

Net mark-up/return/interest income

28,139,597

28,186,541

-0.17%

NON-MARK-UP/NON-INTEREST INCOME

     

Fees and commission income

4,087,281

3,602,430

13.46%

Dividend income

-

-

 

Foreign exchange income

3,967,308

4,197,403

-5.48%

Income / (loss) from derivatives

1,165,568

1,177,969

-1.05%

Gain / (loss) on securities

3,380,515

1,799,304

87.88%

Other income

199,534

112,668

77.10%

Total non-mark-up/ non-interest income

12,800,206

10,889,774

17.54%

Total Income

40,939,803

39,076,315

4.77%

NON-MARK-UP/NON INTEREST EXPENSES

     

Operating expenses

(11,878,809)

(11,128,663)

6.74%

Workers welfare fund

(492,035)

(732,699)

-32.85%

Other charges

(11,765)

(32,560)

-63.87%

Total non-mark-up/ non-interest expenses

(12,382,609)

(11,893,922)

4.11%

Profit before provisions

28,557,194

27,182,393

5.06%

Provisions and write offs - net

(4,940,714)

16,810

 

Extraordinary/unusual items

-

-

 

Profit before taxation

23,616,480

27,199,203

-13.17%

Taxation

(10,483,498)

(11,181,756)

-6.24%

Profit after taxation

13,132,982

16,017,447

-18.01%

Basic and diluted earnings per share (Rupees)

3.39

4.14

-18.12%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg