Bank AL Habib Limited’s financial results for the half year ended June 30, 2012
Karachi, August 06, 2012 (PPI-OT): We wish to inform you that the Board of Directors of the Bank in their meeting held on August 06, 2012 at 11:30 a.m. at Principal Office or the Rank located at Mackinnons Building, II, Chundrigar, Road, Karachi, approved the unaudited Accounts of the Bank or the half year ended June 30, 2012 and recommended the following:
Cash Dividend Nil
Bonus Shares NIL
Any Other Entitlement / Corporate/ Action NIL
Any Other Price-Sensitive Information NIL
The Financial Results approved by the Board of Directors of Bank AL Habib Limited (BAHL) are appended in Annexure “A”.
We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.
Bank Al Habib Limited
Interim Condensed Profit and Loss (Un-Audited)
For the Half year Ended 30 June 2012
Half year ended | Quarter ended | |||
30-June-2012 | 30-June-2011 | 30-June-2012 | 30-June-2011 | |
Rupees in 000 | ||||
| Mark-up/ return/ interest earned | 20,832,517 | 16,783,963 | 10,294,629 | 8,532,792 |
| Mark-up/ return/ interest expense | (13,270,727) | (10,196,356) | (6,480,836) | (5,254,318) |
————- | ————- | ————- | ————- | |
| Net mark-up/ return/ interest income | 7,561,790 | 6,587,607 | 3,813,793 | 3,278,474 |
| Provision against non-performing loans and advances | (379,497) | (770,066) | (110,319) | (285,877) |
| Provision for diminution in the value investments | – | – | – | – |
| Bad debts written off directly | – | – | – | – |
————- | ————- | ————- | ————- | |
(379,497) | (770,066) | (110,319) | (285,877) | |
————- | ————- | ————- | ————- | |
| Net mark-up/ return/ interest income after provisions | 7,182,293 | 5,817,541 | 3,703,474 | 2,992,597 |
| Non Mark-up/ Interest Income | ||||
| Fee commission and brokerage income | 744,128 | 659,182 | 373,454 | 332,297 |
| Dividend income | 235,699 | 58,761 | 144,209 | 24,309 |
| Income From dealing in foreign currencies | 213,899 | 440,140 | 91,977 | 279,730 |
| Gain/ (loss) on Sale/ redemption of securities – net | 68,785 | (1,494) | 68,782 | 29 |
| Unrealized gain/ (loss) on revolution of investment | ||||
| classified as held for trading | – | – | – | – |
| Other income | 219,837 | 186,332 | 111,217 | 85,311 |
————- | ————- | ————- | ————- | |
| Total non-mark-up interest/ Income | 1,482,348 | 1,342,921 | 789,639 | 721,676 |
————- | ————- | ————- | ————- | |
8,664,641 | 7,160,462 | 4,493,113 | 3,714,273 | |
| Non Mark-up/ Interest Expenses | ||||
| Administrative expenses | (4,115,007) | (3,667,821) | (2,005,797) | (1,911,338) |
| Other provisions/ write offs | – | (4,703) | – | 360 |
| Other Charges | (91,149) | (69,887) | (45,792) | (36,123) |
————- | ————- | ————- | ————- | |
| Total non-mark-up/ Interest expenses | (4,206,156) | (3,742,411) | (2,051,589) | (1,947,101) |
————- | ————- | ————- | ————- | |
4,458,485 | 3,418,051 | 2,441,524 | 1,767,172 | |
| Extraordinary/ unusual items | – | – | – | – |
————- | ————- | ————- | ————- | |
| Profit Before taxation | 4,458,485 | 3,418,051 | 2,441,524 | 1,767,172 |
| Taxation | ||||
| Current | (1,618,647) | (1,196,227) | (833,826) | (671,765) |
| Prior years | (57,437) | – | (57,437) | – |
| Deferred | (273,603) | (146,426) | (252,143) | (54,828) |
(1,949,687) | (1,342,653) | (1,143,406) | (726,593) | |
————- | ————- | ————- | ————- | |
| Profit After Taxation | 2,508,798 | 2,075,398 | 1,298,118 | 1,040,579 |
————- | ————- | ————- | ————- | |
Restated | Restated | |||
| Basic and Diluted earnings per share Rupees | 2.48 | 2.05 | 1.28 | 1.03 |
For more Information, contact:
A. Saeed Siddique
Company Secretary
Bank Al Habib Limited
2nd Floor Mackinnon’s Building,
I.I. Chundrigar Road Karachi-Pakistan
Phones: (92-21) 32412421-32412986
Fax: (92-21) 32419752