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% |
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