Askari Bank Ltd. announced Financial Results for the year ended June 30, 2017.
The company’s Mark-up/return/interest earned for the period increased by 2 percent in the outgoing year, whereas the Profit after Taxation for the Period increased 2 percent.
The board has recommended no Cash Dividend, bonus shares or right shares.
Comparison of Key Financials:
|
Financial Results – For the half Year Ended |
|||
|
Key Financials |
June 30, 2017 |
June 30, 2016 |
% Change |
|
Mark-up/return/interest earned |
17,641,247 |
17,226,974 |
2% |
|
Mark-up/return/interest expensed |
9,806,254 |
10,037,217 |
-2% |
|
Net Mark-up/interest income |
7,834,993 |
7,189,757 |
9% |
|
Reversal of provision against NPLs and advances – net |
1,069,513 |
523,999 |
104% |
|
Reversal of provision against assets held for sale |
30,047 |
5,340 |
463% |
|
Bad Debts written off directly |
– |
– |
|
|
Net mark-up/interest income after provisions |
9,051,437 |
7,614,984 |
19% |
|
Non-Mark Up/Interest income |
|||
|
Fee, commission and brokerage income |
1,119,187 |
1,292,340 |
-13% |
|
Dividend income |
170,585 |
195,759 |
-13% |
|
Income from dealing in foreign currencies |
404,048 |
381,206 |
6% |
|
Gain in sale of securities – net |
1,522,131 |
2,021,825 |
-25% |
|
Other income |
271,681 |
204,140 |
33% |
|
Total non-markup/interest income |
12,539,069 |
11,710,254 |
7% |
|
Non mark-up/Interest expenses |
|||
|
Administrative expenses |
7,406,011 |
6,576,554 |
13% |
|
Other provisions/write offs |
– |
– |
|
|
Other charges |
100,490 |
145,219 |
-31% |
|
Total non-markup/interest expenses |
7,506,501 |
6,721,773 |
12% |
|
Profit before taxation |
5,032,568 |
4,988,481 |
1% |
|
Taxation – total |
2,004,953 |
2,028,221 |
-1% |
|
Current |
946,439 |
910,824 |
4% |
|
Prior years |
243,344 |
266,425 |
-9% |
|
deferred |
815,170 |
850,972 |
-4% |
|
Profit after taxation |
3,027,615 |
2,960,260 |
2% |
|
Basic earnings per share – Rupees |
2.40 |
2.35 |
2% |
Amounts in PKR ‘000
The complete statements can be accessed here.
