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Board Meetings

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 Dividend Nil
2. Bonus Shares Nil
3. Right Shares Nil
4. Any other entitlement / corporate action Nil
5. Any other price-sensitive information Nil

 

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 earned 7,607,271 16,049,079 7,206,209  13,341,692
Mark-up / return / Interest expensed 5,529,145 11,004,166 4,382,787 8,507,411
———- ———-  ———- ———-
Net mark-up / interest income 2,078,126 5,044,913 2,823,422 4,834,281
Provision against non-performing loans
and advances – note 8.2.1 588,835 1,113,838 537,385  939,356
impairment loss on available for sale Investments 5,000 5,000  194,596 194,596
Provision for diminution in the value of investments 60,543 77,285 90,000 90,000
Provision against repurchase agreement lendings 23,130 23,130 65,808 65,808
Bad debts written off directly
———- ———-  ———- ———-
 677,508 1,219,253  887,789  1,289,760
———-  ———- ———- ———-
Net mark-up / Interest income after provisions 1,400,618 3,825,660 1,935,633 3,544,521
Non markup / Interest income
Fee, Commission and brokerage Income 352,692  647,942 342,233 637,612
Dividend Income 39,026 73,087 27,752  73,842
Income from dealing in foreign currencies 209,628 277,075 38,347 197,272
Gain on sale of securities – note 16 73,212 152,476  83,232 250,972
Unrealised gain / (loss) on revaluation of Investment:
Classified as held for trading – net  1,718 280 (44)
Other income 120,024 232,676 148,808 251,516
———- ———- ———-  ———-
Total non-markup / interest income 796,300 1,383,258 640,652 1,411,170
———- ———- ———- ———-
2,196,918 5,208,918 2,576,285  4,955,691
Non mark-up / Interest expenses
Administrative expenses  1,941,796  4,120,318 1,986,952 3,850,726
Other provisions / write offs  –  –  –
Other charges 3,896 22,283 12,184 22,595
———- ———-   ———-  ———-
Total non-markup / interest expenses  1,945,692  4,142,601 1,999,136 3,873,321
———- ———- ———-  ———-
 251,226 1,066,317 577,149 1,082,370
Extra ordinary / unusual items  –  –  –
  ———-  ———- ———-  ———-
Profit before taxation  251,226 1,066,317 577,149 1,082,370
Taxation
– current 131,209 222,255 118,889 152,578
– prior years  – 25,454
– deferred (45,311)  140,484 75,005 192,651
———- ———- ———- ———-
85,898  362,739  193,894 370,683
 ———- ———- ———- ———-
Profit after taxation 165,328  703,578 383,255 711,687
 ———- ———-  ———-  ———-
Earnings per share – Basic and diluted (in Rupees)  0.23 1.00 0.55 1.02

 

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

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