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Wednesday, November 22nd, 2017

BankIslami Pakistan Limited’s financial results for the half year ended June 30, 2011

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by September 27, 2011 Financial Results

Karachi: The Board of Directors of our Bank in their meeting held on September 26, 2011 at 3:00 pm at Registered Office recommended the following:

 

1. Cash Dividend Nil
2. Bonus Shares Nil
3. Right Shares Nil
4. Any other Entitlement / Corporate Action Nil
5. Any other price sensitive information Nil

 

The financial results for the half year ended June 30, 2011 approved by the Board are attached.

Condensed Interim Statement of Financial Position as at June 30, 2011

 

Un-audited

Audited

Note

June 30,

2011

December 31,

2010

Rupees in ’000’

Assets
Cash and balances with treasury banks 3,523,871 3,035,148
Balances with other banks 8 492,049 569,622
Due from financial institutions 9 7,512,234 4,513,132
Investments 10 17,976,485 13,732,132
Financings-net 11 15,490,156 16,670,125
Operating fixed assets 12 1,943,238 2,066,680
Deferred tax assets- net 13 386,489 402,183
Other assets  4,573,333 4,046,681
 ———- ———-
 51,897,855 45,035,703
Liabilities
Bills payable 601,982 563,020
Due to financial institutions 14 600,000 353,000
Deposits and other accounts 15 44,474,132 38,198,320
Sub-ordinated loans   –
Liabilities against assets subject to finance lease
Deferred tax liabilities – net  –
Other liabilities 1,343,710 1,154,977
 ———-  ———-
47,019,824 40,269,317
———- ———-
Net Assets 4,878,031 4,766,386
 ———-  ———-
Represented By
Share capital 5,279,679  5,279,679
Reserves 9,310  9,310
Accumulated losses (427,660) (554,985)
 ———- ———-
 4,861,329 4,734,004
Surplus on revaluation assets- net of tax 16 16,702  32,382
 ———- ———-
4,878,031 4,766,386
 ———-  ———-
Contingencies and Comments 17

 

The annexed notes 1 to 23 form an integral part of this condensed interim financial information.

Condensed Interim Profit and Loss Account (Un-Audited) for the Quarter and Half Year Ended June 30, 2011

 

Note

Quarter ended

Half year ended

June 30,

2011

June 30,

2010

June 30,

2011

June 30,

2010

Rupees in ‘000’

Profit/ return on financings, investments and

Placements earned

18 1,364,595  921,379 2,572,721 1,723,370
Return on deposits and other dues expensed 702,003 494,565 1,339,816 940,075
 ———  ——–  ———  ———
Net spread earned 662,592  426,814 1,232,905 783,794
Provision / (Reversal) against non-performing financings 11.4 64,445  (3,962) 70,780 (9,031)
Provision for diminution in the value of investments  –  –
Bad debts written off  –  –
 ——— ——– ——— ———
 61,445 (3,952) 70,780 (9,031)
——— ——–  ———  ———
Net spread after provisions 598,147 430,776 1,162,125 792,325
Other Income
Fee, commission and brokerage Income 23,485 20,213  41,008 45,147
Dividend income  –
Income from dealing in foreign currencies 29,820 9,706 35,814 40,451
Other income 8,829 15,380 23,335 23,594
——— ——–  ——— ———
Total other income 62,134 45,299 100,157 109,192
 ——— ——–  ——— ———
550,281 475,075 1,262,282 901,517
Other expenses
Administrative expenses 554,562 482,439 1,080,217 921,660
Other provisions 250  –  250
Other charges 1,265  1,693  2,453  2,613
  ———  ——–  ——— ———
Total other expenses 556,077  484,137 1,082,920 924,273
 ——— ——– ——— ———
104,204 (8,057) 179,362  (22,756)
Extra ordinary / unusual items
 ——— ——–  ———  ———
Profit / (loss) before taxation 104,204 (8,057) 179,362 (22,756)
Taxation
-Current 15,525 13,801 27,898 18,090
-Prior years
Deferred 10,474 (15,616) 24,139 (24,716)
——— ——–  ——— ———
25,999 (1,815) 52,037 (6,626)
——— ——– ——— ———
Profit / (loss) after taxation 78,205  (6,242) 127,325 (16,130)
Accumulated loss through forward (515,689) (602,113) (554,985) (592,225)
Transferred to statutory reserve  9,824  –  –
———  ——– ——— ———
Accumulated loss carried forward (427,660) (608,355) (427,660) (608,355)
——— ——–  ———  ———
Basic / diluted earnings / (loss) per share – (Rupees) 19 0.148 (0.012) 0.241 (0.031)

 

The annexed notes 1 to 23form an integral part of this condensed interim financial information

For more information, contact:
BankIslami Pakistan Limited
11th Floor, Executive,
Tower Dolmen City,
Marine Drive,
Block- 4, Clifton Karachi.
Tel: 35839906
Fax: 35378373
Website: www.bankislami.com.pk

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