ABL earnings declines by 5pc on lower reversals, NFI

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Staff Reporter

Karachi

ABL announced earnings on Thursday for 9MCY19 at PKR 9.6bn (EPS: PKR 8.42), declining 5% YoY, on account of drastically lower net reversals and NFI. Earnings depicted a healthy jump of 8% QoQ with NII showing an uptick and OPEX remaining stagnant. The bank also announced a dividend of PKR 2.00/share leading to total payout of PKR 6.00/share for 9mCY19. Net Interest Income of the bank settled at PKR 28.8bn for 9MCY19, increasing 22% YoY while increasing 10% QoQ with interest expense going up 35% against increase of 26% jump in mark-up income. As per industry trend nominal capital gains during the year remained the primary reason behind a 9% YoY fall in NFI.