KASB Bank posts Rs196.025mn profit after tax

RECORDER REPORT

KARACHI: The KASB Bank Limited has posted Rs. 196.025 million as profit after taxation in the half year period ended June 30, 2012 as compared to after tax loss of Rs. 2,177.255 million recorded in the corresponding period in 2011.

The board of directors of the bank in its meeting held here on August 27, 2012 declared that the bank’s earning per share stood at Re 0.10 in the period under review against per share loss of Rs. 1.12 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the bank’s markup/return/interest earning increased to Rs. 3.103 billion in the first half of 2012 against Rs. 2.239 billion in the same period last year while the mark-up/return/interest expenses reduced to Rs. 2.080 billion against Rs. 2.502 billion.

The bank’s total non-markup/interest income increased to Rs. 1,196.387 million in the first half of 2012 against Rs. 131.930 million earned in the same period last year while total non-markup/interest expenses reduced to Rs. 1,177.008 million against Rs. 1,240.913 million.

The bank posted Rs. 343.006 million as profit before taxation in the first half of 2012 as compared to before tax loss of Rs. 2,177.255 million in the same period in 2011.

On quarterly basis, the bank posted Rs. 447.037 million as profit after tax translating earning per share of Re. 0.23 in the quarter ended June 30, 2012 as compared to after loss of Rs. 1,715.389 million with per share loss of Re 0.88 in the same quarter in 2011.