AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Further to our Letter dated July 11, 2011, we have to inform you that the Board of Directors of Faysal Bank Limited (FABL) at its meeting held on Monday, July 18, 2011 at Istanbul at 3:00p.m.(Istanbul Local Time) approved the following:
1.Cash Dividend:
NIL
2. Bonus Issue:
NIL
3. Right Share:
NIL
4. Any Other Entitlement/Corporate Action:
NIL
5. Any Other Price-Sensitive Information:
NIL
Condensed Interim Profit and Loss Account (Un-Audited) for the Quarter and Half Year Ended June 30, 2011
| Quarter Ended | Half Yearly Ended | |||
| June 30, 2011 | June 30, 2010 | June 30, 2011 | June 30, 2010 | |
| Rupees in ’000′ | ||||
| Mark-up/return/interest earned | 7,076,956 | 4,384,676 | 13,756,058 | 8,705,201 |
| Mark-up/return/interest expensed | 4,794,508 | 2,936,545 | 9,313,042 | 6,037,517 |
| ———- | ———- | ———– | ———- | |
| Net mark-up/interest income | 2,282,448 | 1,448,131 | 4,443,016 | 2,667,684 |
| ———- | ———- | ———– | ———- | |
| Provision/(reversal) against non-performing loans and advances-net | (501,168) | 331,056 | (25,860) | 628,981 |
| Reversal of provision for consumer loans – general | (50,747) | (17,554) | (43,451) | (19,586) |
| Provision/ (reversal) for diminution in the value of investments | 227,414 | 182,757 | 229,681 | (6,348) |
| (Recovery) of / Bad debts bad debts written off | 8,415 | – | (30,916) | – |
| ———- | ———- | ———– | ———- | |
| (316,086) | 496,259 | 128,444 | 603,047 | |
| Net mark-up/return/interest income after provisions | 2,598,534 | 951,872 | 4,314,572 | 2,064,637 |
| ———- | ———- | ———– | ———- | |
| Non mark-up/return/interest income | ||||
| ———- | ———- | ———– | ———- | |
| Fee, Commission and brokerage income | 522,795 | 216,223 | 939,124 | 488,079 |
| Dividend Income | 88,450 | 50,648 | 213,888 | 171,251 |
| Income from dealing in foreign currencies | 234,134 | 103,421 | 423,867 | 239,996 |
| Gain / (loss) on sale of Securities | 338,942 | (451,133) | 486,511 | 1,251,545 |
| Unrealised (loss) / gain on revolution of investments classified as hold for trading | (82,754) | (62,233) | 186,249 | (154,955) |
| Other income | 184,906 | 27,871 | 399,829 | 66,875 |
| ———- | ———- | ———– | ———- | |
| Total non mark-up / return / interest income / (loss) | 1,265,473 | (115,203) | 2,649,588 | 2,042,791 |
| ———- | ———- | ———– | ———- | |
| 3,865,007 | 836,669 | 6,964,140 | 4,107,428 | |
| Non mark-up / return / Interest expenses Administrative expenses | 2,808,516 | 1,324,726 | 5,572,935 | 2,538,458 |
| Other provisions – net | 48,746 | – | 46,076 | – |
| Other charges | 62,741 | 39,960 | 69,969 | 39,950 |
| ———- | ———- | ———– | ———- | |
| Total non mark-up/return/ interest expenses | 2,920,003 | 1,364,686 | 5,688,980 | 2,578,418 |
| ———- | ———- | ———– | ———- | |
| 945,004 | (528,017) | 1,275,160 | 1,529,010 | |
| Extraordinary / unusual items | – | – | – | – |
| ———- | ———- | ———– | ———- | |
| Profit before taxation | 945,004 | (528,017) | 1,275,160 | 1,529,010 |
| ———- | ———- | ———– | ———- | |
| Taxation – Current period | 92,279 | (39,768) | 185,445 | 293,310 |
| – Prior years | 277,753 | (254,920) | 277,753 | (239,672) |
| – Deferred | 22,482 | (281,515) | 18,214 | (258,207) |
| ———- | ———- | ———– | ———- | |
| 392,514 | (576,203) | 481,412 | (204,769) | |
| ———- | ———- | ———– | ———- | |
| Profit after taxation | 552,490 | 48,186 | 793,748 | 1,733,779 |
| ———- | ———- | ———– | ———- | |
6. Financial Results:
The Profit and Loss Account of Faysal Bank Limited for the second quarter (HALF YEAR) ended June 30, 2011 is enclosed herewith as Annexure “A”.
We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange in due course of time.
For more information, contact:
Mia Ejaz Ahmed
Company Secretary and Head of Legal
Faysal Bank Limited
Faysal House, ST.02, Shahrah-e-Faisal,
Karachi, Pakistan.
UAN: 021 111 747 747
Tel: 021 279 5200
Fax: 021 279 5226
Email: www.faysalbank.com