August 23, 2019 (MLN): Bank of Punjab’s half yearly net income has widened by 4.3% compared to last year as it has been recorded at Rs.4 billion (EPS: Rs.1.52 per share) compared to Rs.3.9 billion (EPS: Rs.4.46 per share) witnessed last year.
A massive leap of Rs.2 billion in net provision and write offs resulted in a mediocre increment in bottom line gains as the bank’s total income (Rs.15 billion) expanded by 35.5% (or Rs.3.9 billion) while the total non-mark-up expenses grew by only 19.2% (or Rs.1.1 billion) to Rs.7 billion.
Moreover, BOP’s tax payments grew by 23% to Rs.2.9 billion, marking a total rise of Rs.552 million.
|
Profit and Loss Account for the half year ended June 30th 2019 (Rupees in '000) |
|||
|---|---|---|---|
|
|
Jun-19 |
Jun-18 |
% Change |
|
Mark-up/return/interest earned |
34,161,810 |
20,439,520 |
67.14% |
|
Mark-up/return/interest expensed |
21,033,787 |
11,219,548 |
87.47% |
|
Net mark-up/return/interest income |
13,128,023 |
9,219,972 |
42.39% |
|
NON MARK-UP/INTEREST INCOME |
|
|
|
|
Fee, commision and brokerage income |
1,687,554 |
1,617,313 |
4.34% |
|
Dividend income |
57,821 |
35,362 |
63.51% |
|
Foreign exchange income |
30,761 |
124,720 |
-75.34% |
|
Income/(loss) from derivatives |
– |
– |
|
|
Gain / (loss) on securities – net |
33,918 |
18,171 |
86.66% |
|
Other income |
43,752 |
44,094 |
-0.78% |
|
Total non-mark-up/interest income |
1,853,806 |
1,839,660 |
0.77% |
|
Total Income |
14,981,829 |
11,059,632 |
35.46% |
|
NON MARK-UP/INTEREST EXPENSES |
|
|
|
|
Operating expenses |
7,025,982 |
5,895,100 |
19.18% |
|
Workers welfare fund |
– |
– |
|
|
Other charges |
2,663 |
– |
|
|
Total non-mark-up/interest expenses |
7,028,645 |
5,895,100 |
19.23% |
|
Profit before provisions |
7,953,184 |
5,164,532 |
54.00% |
|
Provisions/(reversals) and write offs – net |
1,020,731 |
(1,051,663) |
|
|
Extra ordinary/unusual items |
– |
– |
|
|
Profit before taxation |
6,932,453 |
6,216,195 |
11.52% |
|
Taxation |
2,918,409 |
2,366,035 |
23.35% |
|
Profit after taxation |
4,014,044 |
3,850,160 |
4.26% |
|
Earnings per share – Basic and Diluted (in Rupees) |
1.52 |
1.46 |
4.11% |
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