October 29, 2019 (MLN): Standard Charted Bank (Pakistan) Limited announced its result for the quarter ended September 30, 2019 today, in which it has stated Profit after Tax of Rs. 11.4 billion (EPS: Rs. (2.95), i.e. 46.7% higher than the earnings reported in same period of last year.
The first quarter of current Fiscal year turned out to be good for the bank, as both of its income generating heads, i.e. Net Interest Income and Non-markup Interest Income depicted growth of 51.5% and 19.3% respectively.
On top of that, the total non-core expense remained somewhat the same, which further elevated the financial health of the bank.
|
Profit and Loss Account for the nine months ended on September 30, 2019 ('000 Rupees) |
|||
|---|---|---|---|
|
Sep-19 |
Sep-18 |
% Change |
|
|
Mark-up/return/interest earned |
37,336,079 |
21,744,187 |
71.71% |
|
Mark-up/return/interest expenses |
(16,807,732) |
(8,197,622) |
105.03% |
|
Net mark-up/return/interest income |
20,528,347 |
13,546,565 |
51.54% |
|
NON MARK-UP/NON INTEREST INCOME |
|||
|
Fees, commission and brokerage income |
2,706,035 |
2,986,488 |
-9.39% |
|
Dividend income |
– |
||
|
Foreign exchange income |
3,760,923 |
3,245,793 |
15.87% |
|
Income / (loss) from derivatives |
604,515 |
(567,452) |
-206.53% |
|
Gain / (loss) on securities |
944,457 |
1,028,485 |
-8.17% |
|
Other income |
73,931 |
83,020 |
-10.95% |
|
Total non-mark-up/ non-interest income |
8,089,861 |
6,776,334 |
19.38% |
|
Total Income |
28,618,208 |
20,322,899 |
40.82% |
|
NON MARK-UP/NON INTEREST EXPENSES |
|||
|
Operating expenses |
(7,984,153) |
(8,366,731) |
-4.57% |
|
Workers welfare fund |
(578,242) |
(252,910) |
128.64% |
|
Other charges |
(32,508) |
(5,507) |
490.30% |
|
Total non-mark-up/ non-interest expenses |
(8,594,903) |
(8,625,148) |
-0.35% |
|
Profit before provisions |
20,023,305 |
11,697,751 |
71.17% |
|
(Provisions) / recovery and write offs – net |
(250,518) |
947,748 |
|
|
Extraordinary/unusual items |
– |
– |
|
|
Profit before taxation |
19,772,787 |
12,645,499 |
56.36% |
|
Taxation |
(8,340,189) |
(4,871,572) |
71.20% |
|
Profit after taxation |
11,432,598 |
7,773,927 |
47.06% |
|
Basic and diluted earnings per share (Rupees) |
2.95 |
2.01 |
46.77% |
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