Karachi, May 02, 2013 (PPI-OT): The Board of Directors of our Bank in their meeting held on April 30, 2013 at 4:00 pm at Registered Office 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
The financial results for the quarter ended March 31, 2013 approved by the Board are attached.
We will be sending you 300 copies of the Quarterly Report for distribution amongst the members of the Exchange in due course of time.
Condensed Interim Statement of Financial Position as at March 31, 2013
Restated Note (Un-audited) (Audited) March 31, December 31, 2013 2012 Rupees in '000 ASSETS Cash and balances with treasury banks 3,827,599 4,938,707 Balances with other banks 8 492,700 806,110 Due from financial institutions 9 11,191,121 8,475,672 Investments 10 28,713,845 28,994,462 Islamic financing and related assets - net 11 26,416,286 27,433,262 Operating fixed nests 1,842,573 1,913,106 Deferred tax assets - net 13 110,460 78,896 Other assets 2,054,753 1,607,602 ---------- ---------- 74,849,937 74,247,817 LIABILITIES Bills payable 939,859 1,251,010 Due to financial Institutions 14 1,625,885 1,621,415 Deposits and other accounts 15 64,786,265 64,216,485 Sub-ordinate loans - - Liabilities against assets subject to finance lease - - Deferred tax liabilities - net - - Other liabilities 1,756,923 1,572,412 ---------- ---------- 69,108,932 68,661,322 ---------- ---------- NET ASSETS 5,541,005 5,586,495 ---------- ---------- Represented By Share capital 5,279,679 5,279,679 Reserves 173,392 173,392 Inappropriate Profit 129,323 115,383 ---------- ---------- 5,582,394 5,568,454 (Deficit)/ Surplus on revaluation of assets-net of tax 16 (41,389) 18,041 ---------- ---------- 5,541,005 5,586,495 ---------- ---------- Contingencies and Commitments 17 The annexed notes 1 to 24 from an Integral part of this condensed Interim financial information. Condensed Interim Profit And Loss Account (Unaudited) for the Quarter Ended March 31, 2013 Restated Note Quarter ended March 31, December 31, 2013 2012 Rupees in '000 Profit/return earned 16 1,437,839 1,419,778 Profit/return expensed 911,663 822,810 ---------- ---------- Net spread earned 526,286 596,968 Provision again non-performing Islamic financings and related assets - net 11.4 18,063 5,685 Provision for diminution in the value of Investments - - Bad debts written off directly - - ---------- ---------- 18,063 5,685 ---------- ---------- Net spread after provisions 608,223 591,283 Other Income Fee, commission and brokerage Income 59,661 41,940 Dividend Income - - Income from dealing in foreign currencies 17,001 24,290 Gain on sale of securities 6,709 - Other Income 54,176 7,683 ---------- ---------- Total other income 137,547 73,913 ---------- ---------- 645,770 665,196 Other Expenses Administrative expenses 610,383 524,175 Other provisions - - Other charges 13,763 381 ---------- ---------- Total other expenses 624,146 524,556 ---------- ---------- 21,624 140,640 Extra ordinary/ unusual items - - ---------- ---------- Profit before taxation 21,624 140,640 Taxation - Current 7,877 14,937 - Prior years - - - Defined (193) 33,905 ---------- ---------- 7,684 48,842 ---------- ---------- Profit after Taxation 13,940 91,798 Inappropriate profit/ Accumulated (loss brought forward 115,383 (215,131) Transferred to statutory reserve - - ---------- ---------- Unappropriated profit /Accumulated (loss) carried forward 129,323 (123,333) ---------- ---------- Basic/diluted earnings per share – (Rupee) 19 0.026 0.174 ---------- ----------
The annexed notes 1 to 24 farm an Integral part of this condensed Interim financial information.
For more information, contact:
Muhammad Shoaib
Unit Head – Corporate
BankIslami Pakistan Limited
11th Floor, Executive, Tower Dolmen City,
Marine Drive, Block- 4, Clifton Karachi.
Tel: 111 – (BIP) 247-111
Fax: 35378373, 111-475-264 (ISLAMI)
Website: www.bankislami.com.pk