Karachi: We wish to inform you that the Hoard of Directors of Askari Bank Limited (AKBL) in their meeting held on Wednesday, August 24, 2011 at 10:00 am at AKBL Head Office, Rawalpindi have 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 |
Askari Bank Limited
Condensed Interim Unconsolidated Profit and Loss Account (Un-audited)
For the half year ended June 30, 2011
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June 30 2011 |
June 30 2010 |
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For the for the Half |
For the for the Half |
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Quarter ended year ended |
Quarter ended year ended |
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Rupees in thousands |
Rupees in thousands |
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| Mark-up / return / interest earned | 7,607,271 | 16,049,079 | 7,206,209 | 13,341,692 |
| Mark-up / return / Interest expensed | 5,529,145 | 11,004,166 | 4,382,787 | 8,507,411 |
| ———- | ———- | ———- | ———- | |
| Net mark-up / interest income | 2,078,126 | 5,044,913 | 2,823,422 | 4,834,281 |
| Provision against non-performing loans | ||||
| and advances – note 8.2.1 | 588,835 | 1,113,838 | 537,385 | 939,356 |
| impairment loss on available for sale Investments | 5,000 | 5,000 | 194,596 | 194,596 |
| Provision for diminution in the value of investments | 60,543 | 77,285 | 90,000 | 90,000 |
| Provision against repurchase agreement lendings | 23,130 | 23,130 | 65,808 | 65,808 |
| Bad debts written off directly | – | – | – | – |
| ———- | ———- | ———- | ———- | |
| 677,508 | 1,219,253 | 887,789 | 1,289,760 | |
| ———- | ———- | ———- | ———- | |
| Net mark-up / Interest income after provisions | 1,400,618 | 3,825,660 | 1,935,633 | 3,544,521 |
| Non markup / Interest income | ||||
| Fee, Commission and brokerage Income | 352,692 | 647,942 | 342,233 | 637,612 |
| Dividend Income | 39,026 | 73,087 | 27,752 | 73,842 |
| Income from dealing in foreign currencies | 209,628 | 277,075 | 38,347 | 197,272 |
| Gain on sale of securities – note 16 | 73,212 | 152,476 | 83,232 | 250,972 |
| Unrealised gain / (loss) on revaluation of Investment: | ||||
| Classified as held for trading – net | 1,718 | – | 280 | (44) |
| Other income | 120,024 | 232,676 | 148,808 | 251,516 |
| ———- | ———- | ———- | ———- | |
| Total non-markup / interest income | 796,300 | 1,383,258 | 640,652 | 1,411,170 |
| ———- | ———- | ———- | ———- | |
| 2,196,918 | 5,208,918 | 2,576,285 | 4,955,691 | |
| Non mark-up / Interest expenses | ||||
| Administrative expenses | 1,941,796 | 4,120,318 | 1,986,952 | 3,850,726 |
| Other provisions / write offs | – | – | – | – |
| Other charges | 3,896 | 22,283 | 12,184 | 22,595 |
| ———- | ———- | ———- | ———- | |
| Total non-markup / interest expenses | 1,945,692 | 4,142,601 | 1,999,136 | 3,873,321 |
| ———- | ———- | ———- | ———- | |
| 251,226 | 1,066,317 | 577,149 | 1,082,370 | |
| Extra ordinary / unusual items | – | – | – | – |
| ———- | ———- | ———- | ———- | |
| Profit before taxation | 251,226 | 1,066,317 | 577,149 | 1,082,370 |
| Taxation | ||||
| – current | 131,209 | 222,255 | 118,889 | 152,578 |
| – prior years | – | – | – | 25,454 |
| – deferred | (45,311) | 140,484 | 75,005 | 192,651 |
| ———- | ———- | ———- | ———- | |
| 85,898 | 362,739 | 193,894 | 370,683 | |
| ———- | ———- | ———- | ———- | |
| Profit after taxation | 165,328 | 703,578 | 383,255 | 711,687 |
| ———- | ———- | ———- | ———- | |
| Earnings per share – Basic and diluted (in Rupees) | 0.23 | 1.00 | 0.55 | 1.02 |
For more information, contact:
Askari Bank Limited
AWT Plaza, The Mall, P.O. Box 1084,
Rawalpindi-Pakistan,
PABX: 92-51 9272150-3, 9063000
Fax: 92-51 9272445 – 9272455