KARACHI: MCB Bank on Thursday announced profit after tax (PAT) at Rs13.4bn for 1HCY20, depicting a year-on-year increase of 29pc with earnings per share (EPS) of Rs11.33.

Net Interest Income (NII) of the bank settled at Rs38.3bn, portraying an impressive 29pc jump. A loss on sale of securities was booked worth Rs51 million during the second quarter and was down 68pc.

The bank saw contractions of 7pc, 37pc and 14pc during 1HCY20 in its fee, dividend and forex operations incomes, respectively.

It also booked hefty provisioning charges this quarter worth Rs3.3bn, surging by 143pc year-on-year and 323pc quarter-on-quarter.

Mari profits slip to Rs7.52bn

Mari Petroleum Company declared PAT of Rs7.088bn, converting into EPS of Rs53.13 during 4QFY20, as against PAT of Rs7.518bn and EPS Rs56.35 in the same quarter last year.

This represented a drop of 6pc year-on-year. Total FY20 PAT settled at Rs30.313bn and EPS at Rs227.73 representing growth of 25pc. The results were accompanied by a final cash dividend of Rs2 per share, taking the full-year payout to Rs6.

Allied Bank records Rs8.5bn PAT

Allied Bank Ltd on Thursday posted 1HCY20 at Rs8.5bn (EPS: Rs7.40), increasing 36pc year-on-year and 18pc quarter-to-quarter.

As per industry trend, provisioning expenses stressed earnings as banks look to build up coverage. NII settled at Rs25bn for 1HCY20, increasing 33pc.

Meanwhile, the bank also appointed Aizid Razzaq Gill as president and chief executive officer with effect from Jan 1, 2021.

ICI earns Rs2.53bn

ICI Pakistan Ltd posted consolidated PAT at Rs2.528 billion for the year ended June 30, translating into earnings per share of Rs27.37 and were almost in line with same period of FY19.

On a standalone basis, PAT for the year stood at Rs3.029bn and EPS at Rs32.80, rising 31pc over FY19, driven through higher operating results coupled with higher dividend income from its associate.

The board approved a final cash dividend of Rs5 which was in addition to Rs11 apiece already paid.

The company also announced capacity expansion of light soda ash at its Khewra plant by 125,000 tonnes per annum (TPA).

Pak Refinery losses worsen

Pakistan Refinery Ltd posted a loss of Rs7.59bn for FY20 and loss per share at Rs17.74.

The losses jumped by 30.4pc from Rs5.82bn and loss per share at Rs13.68 the previous year. The board did not declare a dividend.

Revenue from contracts with customers plunged by 21.8pc to Rs90.5bn, from Rs115.7bn, resulting in gross loss of Rs4.37bn, up from Rs3.17bn.

Faysal Bank net income surges

Faysal Bank unveiled PAT of Rs1.73bn for the second quarter of 2020, up 22pc on yearly basis with EPS at Rs1.14.

Higher earnings were attributable to 31pc increase in NII while fee income declined by a sharp 48pc.

BAHL to buy Centerpoint building

Bank Al Habib Ltd on Thursday entered into an agreement with the TPL Properties Ltd to purchase Centrepoint building located off Shaheed-e-Millat Expressway near KPT Interchange, Karachi.

The bank did not mention the price in its notice to PSX.

Published in Dawn, August 21st, 2020