Askari Bank’s post-tax profit jumps to Rs1.47bn

RECORDER REPORT

KARACHI: The profit after taxation of Askari Bank Limited has increased to Rs1.473 billion in the nine month period ended September 30 this year against Rs1.004 billion earned in the corresponding period in 2011.

The board of directors of the bank in its meeting held on Friday declared that the bank’s earning per share has increased to Rs1.81 in the period under review against Rs1.24 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the bank’s mark-up/return/interest earning increased to Rs25.324 billion in the nine month period this year against Rs24.620 billion in the same period last year while mark-up/return/interest expenses increased to Rs18.130 billion against Rs17.173 billion.  The bank’s total non-mark-up/interest income increased to Rs2.989 billion against Rs2.203 billion while total non-markup/interest expenses increased to Rs7.013 billion against Rs6.439 billion.

The bank’s profit before taxation increased to Rs2.130 billion in the nine month period this year against Rs1.574 billion in the same period last year.  On quarterly basis, the bank’s profit after tax increased to Rs374.744 million translating into earning per share of Re 0.46 in the quarter ended September 30, 2012 as compared to after tax profit of Rs300.567 million with per share earning of Re 0.37 in the same quarter last year.