If we call them "laggard" and "risk-averse"; when it comes to their lending stance, "smart" and "forward-looking" should be the titles for the banking sector when it comes to inculcating convenience and innovation for customers.
One after the other, the banks and other financial institutions are coming up with their unique e-banking models and gaining traction on untapped market segments. And by doing so, they are not only boosting their own business, but also lending a due hand in boosting financial inclusion in the country.
According to the "Payment Systems Review" released by the SBP for the period ending June 2013, currently around 95 percent of the total bank branches are offering Real-Time Online Banking (RTOB) services which takes the tally to 10,013 branches as of June 2013 as against 9,291 branches in the June, last year. This marks a year-on-year growth of eight percent in the number of online branches operating in the country.
Besides, the number of plastic cards issued to customers also saw year-on-year growth of 25 percent to total 22.32 million cards issued as of June 2013. Among the plastic cards, debit cards have the highest share of over 90 percent. In terms of transaction volume ATM transactions lead with a share of 63.7 percent and an average transaction value of Rs10,007.
The tally of ATMs also built over the year to 6,757 units in 4Q FY13 as against 5,745 units in the corresponding period of last year. All these modes collectively boosted the volume of electronic transactions to Rs7,804 billion in 4Q FY13; representing 19 percent year-on-year growth. The volume of large payments via RTGS also grew by 32 percent year on year to take the number of large value payments to 134.738 with a volume of Rs41.72 million.
Financial industry participants are further catalyzing the e-banking transformation of the banking industry by launching new products. For instance, Standard Chartered Bank recently launched "Breeze", their mobile banking app which can easily be downloaded on smartphones and used for purposes such as money transfers, locating ATMs, checking account balance and transaction history. BAFL and Warid have also launched a mobile financial services platform based on Visas Fundamo technology.
While e-banking has made great strides over the years, its transaction volume and value still appear as peanuts compared to paper-based transactions. According to market participants, this relates to lack of trust on virtual media among the masses; a stark reminder that industry wide attempts at raising awareness are crucial for long-term success of e-banking.
Other corporate results
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Burshane LPG (Pakistan) Limited
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Rs(mn) FY13 FY12 Chg
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Sales - net 2351 1978 19%
Cost of goods sold 2149 1762 22%
Gross profit 202 216 -6%
Other operating income 23 21 9%
Operating profit 91 115 -21%
Profit before tax 87 112 -22%
Profit after tax 55 73 -24%
EPS (Rs) - basic 2.45 3.20
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Dadex Eternit Limited
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Rs(mn) FY13 FY12 Chg
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Turnover 2374 2489 -5%
Cost of sales 1861 2115 -12%
Gross profit 513 353 45%
Other operating income 89 373 -76%
Operating profit 121 162 -25%
Profit / (loss) before tax -0.2 93
Profit / (loss) after tax -12 114
EPS (Rs) - basic -1.14 10.80
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Gadoon Textile Mills Limited
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Rs(mn) FY13 FY12 Chg
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Sales - net 18674 13523 38%
Cost of sales 16406 12419 32%
Gross profit 2267 1104 105%
Operating profit 1187 388 206%
Other operating income 20 267 -92%
Shares of profit from Associate 53 0
Profit before tax 1260 654 93%
Profit after tax 1135 649 75%
EPS (Rs) - basic 48.42 27.68
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Pakistan PVC Limited
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Rs(mn) FY13 FY12 Chg
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Sales - net 3 2 39%
Cost of goods sold 21 22 -5%
Gross profit / (loss) -17 -19 -11%
Other income 21 12 82%
Profit / (loss) before tax -10 -24 -56%
Profit / (loss) after tax -12 -25 -53%
EPS (Rs) - basic -0.78 -1.68
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Balochistan Particle Board Limited
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Rs(mn) FY13 FY12 Chg
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Rental income 3.41 3.10 10%
Profit / (loss) before tax 2.23 1.50 49%
Profit / (loss) after tax 1.93 1.22 58%
EPS (Rs) - basic 0.32 0.20
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First UDL Modaraba
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Rs(mn) FY13 FY12 Chg
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Ijarah operations 135 115 18%
Musharaka finance 14 18 -24%
Investments 16 4 351%
Opearting profit 30 42 -27%
Profit/(loss) before tax 42 50 -16%
Profit/(loss) after tax 42 50 -16%
EPS (Rs)-basic 1.58 1.88
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Sitara Energy Limited
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Rs(mn) FY13 FY12 Chg
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Sales - net 5184 4866 7%
Cost of generation 4652 4341 7%
Gross profit 532 525 1%
Other operating income 1.8 96.5 -98%
Profit before tax 249 252 -1%
Profit after tax 249 251 -1%
EPS (Rs) - basic 13.06 13.17
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Sitara Peroxide Limited
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Rs(mn) FY13 FY12 Chg
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Sales 1110 985 13%
Cost of goods sold 837 832 1%
Gross profit 273 153 79%
Other income 1.3 1.9 -35%
Profit/(loss) before tax -10 -172 -94%
Profit/(loss) after tax -19 -199 -90%
EPS (Rs)-basic -0.35 -3.60
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Berger Paints Pakistan Ltd.
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Rs(mn) FY13 FY12 Chg
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Sales - net 4167 4052 3%
Cost of goods sold 3239 3254 0%
Gross profit 923 798 16%
Operating profit 180 120 49%
Other operating income 97 88 11%
Profit before tax 101 -7
Profit after tax 60 -10
EPS (Rs) - basic 3.30 -0.57
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Fateh Industries Ltd.
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Rs(mn) FY13 FY12 Chg
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Sales 17.3 8.5 104%
Cost of sales 14.8 7.3 102%
Gross profit 2.5 1.2 116%
Operating profit -2.6 -2.5 4%
Profit / (loss) before tax -112 5.6
Profit / (loss) after tax -113 5.5
Profit / (loss) EPS (Rs) - basis -56.04 2.75
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Fateh Sports Wear Limited
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Rs(mn) FY13 FY12 Chg
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Sales 15.0 15.3 -2%
Cost of sales 14.6 13.5 9%
Gross profit 0.3 1.8 -83%
Operating profit / (loss) -2 -0.03
Profit / (loss) before tax -319 12.4
Profit / (loss) after tax -319 12.4
Profit / (loss) EPS (Rs) - basis -159.71 6.20
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The Searle Company Limited
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Rs(mn) FY13 FY12 Chg
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Sales - net 5150 4936 4%
Cost of goods sold 2807 2805 0%
Gross profit 2343 2131 10%
Operating profit 1013 879 15%
Profit before tax 753 558 35%
Profit after tax 524 378 38%
EPS (Rs)-basic 11.11 8.02
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