Askari Bank Limited’s board of directors meeting of AKBL – August 24, 2011

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 DividendNil
2.Bonus SharesNil
3.Right SharesNil
4.Any other entitlement / corporate actionNil
5.Any other price-sensitive informationNil

 

Askari Bank Limited

Condensed Interim Unconsolidated Profit and Loss Account (Un-audited)

For the half year ended June 30, 2011

 

June 30 2011

June 30 2010

For the     for the Half

For the     for the Half

Quarter ended  year ended

Quarter ended year ended

Rupees in thousands

Rupees in thousands

Mark-up / return / interest earned7,607,27116,049,0797,206,209 13,341,692
Mark-up / return / Interest expensed5,529,14511,004,1664,382,7878,507,411
———-———- ———-———-
Net mark-up / interest income2,078,1265,044,9132,823,4224,834,281
Provision against non-performing loans
and advances – note 8.2.1588,8351,113,838537,385 939,356
impairment loss on available for sale Investments5,0005,000 194,596194,596
Provision for diminution in the value of investments60,54377,28590,00090,000
Provision against repurchase agreement lendings23,13023,13065,80865,808
Bad debts written off directly----
———-———- ———-———-
 677,5081,219,253 887,789 1,289,760
———- ———-———-———-
Net mark-up / Interest income after provisions1,400,6183,825,6601,935,6333,544,521
Non markup / Interest income
Fee, Commission and brokerage Income352,692 647,942342,233637,612
Dividend Income39,02673,08727,752 73,842
Income from dealing in foreign currencies209,628277,07538,347197,272
Gain on sale of securities – note 1673,212152,476 83,232250,972
Unrealised gain / (loss) on revaluation of Investment:
Classified as held for trading – net 1,718-280(44)
Other income120,024232,676148,808251,516
———-———-———- ———-
Total non-markup / interest income796,3001,383,258640,6521,411,170
———-———-———-———-
2,196,9185,208,9182,576,285 4,955,691
Non mark-up / Interest expenses
Administrative expenses 1,941,796 4,120,3181,986,9523,850,726
Other provisions / write offs- - - -
Other charges3,89622,28312,18422,595
———-———-  ———- ———-
Total non-markup / interest expenses 1,945,692 4,142,6011,999,1363,873,321
———-———-———- ———-
 251,2261,066,317577,1491,082,370
Extra ordinary / unusual items- - - -
  ———- ———-———- ———-
Profit before taxation 251,2261,066,317577,1491,082,370
Taxation
- current131,209222,255118,889152,578
- prior years-- -25,454
- deferred(45,311) 140,48475,005192,651
———-———-———-———-
85,898 362,739 193,894370,683
 ———-———-———-———-
Profit after taxation165,328 703,578383,255711,687
 ———-———- ———- ———-
Earnings per share – Basic and diluted (in Rupees) 0.231.000.551.02

 

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