BankIslami Pakistan Limited’s financial results for the quarter ended March 31, 2013

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

BankIslami Pakistan Limited’s notification under section 15d of the securities and exchange ordinance 1969

Karachi, March 14, 2013 (PPI-OT): In pursuance SECP letter Ref. No. Misc/MSW/SMD/I(5)/2004/1696 dated February 8, 2013, kindly find the attached required declaration.

Disclosure Form in Terms of Section 15D of the Securities and Exchange Ordinance 1969

Name of Company:

BankIslami Pakistan Limited, 11th Floor, Executive Tower, Dolmen City, Mann Drive, Block-4, Clifton, Karachi.

Date of Report:

March 12, 2013

Contact information:

Mr. Khawaja Ehrar ul Hassan, Acting Chief Financial Officer/ Acting Company Secretary, BankIslami Pakistan Limited, 11th Floor, Executive Tower, Dolmen City, Marine Drive, Block-4, Clifton, Karachi. Tel: 35839906 Ext. #3500, Fax No. 35378373 email: khawaja.ehrar@bankislami.com.pk

Please mark the appropriate box below (see General Instruction A. 1 below before filing the details).

Disclosure of inside information by listed company in terms of section 15D(1), Public disclosure of inside information, which directly concerns the listed securities.

Intimation of decision of the listed company to delay disclosure of inside information in terms of section 15D(2);

Disclosure to the Commission of the inside information when the listed company decides to delay the public disclosure of inside information.

Disclosure of inside information by listed company where the listed company or person acting on its behalf discloses inside information to third party in terms of section 15D(3). Disclosure to the Public, whenever a listed company or a person acting on its behalf; discloses any inside information to any third party in the normal exercise of employment; profession or duties; complete and effective public disclosure of that information must be made simultaneously.

Disclosure of transactions conducted by Persons discharging managerial responsibilities within a listed company or any person closely associated with them in terms of section 15D(5).

Disclosure to the Commission by person discharging managerial responsibilities within a listed company and, where applicable, person closely associated with tem, of transactions conducted on their own account relating to the securities of such listed company.

1. Date of share sold : March 11, 2013
2. Price at shares sold : Rs. 6.96
3. Number of shares sold : 7,500
4. Form of shares certificate : within CDS system
5. Nature of transaction : sell
6. Person who sold the shares : Mr. Asad Alim and Executive of the Bank.

In case of person, pursuant to the requirements of the Securities and Exchange Commission of 1969 (XVII of 1969, this form/statement is duly signed.

For more information, contact:
Khawaja Ehrar ul Hassan
Acting Chief Financial Officer
Acting Company Secretary
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

BankIslami Pakistan Limited’s financial results for the year ended December 31, 2012

Karachi, March 05, 2013 (PPI-OT): The Board of Directors of our Bank in their meeting held on March 4, 2013 at 2:00 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

2. Any other price sensitive information           :   Nil

The financial results for the year ended December 31, 2012 approved by the Board are attached.

Muhammad Shoaib

Unit Head- Corporate Affairs

Khawaja Ehrar ul Hassan

Acting Chief Financial Officer

Profit and Loss Account for the Year Ended December 31, 2012

Note

2012

2011

(Restated)

Rupees in ‘000

Profit/ return earned

22

5,975,306

5,502,154

Profit/ return expensed

23

3,506,965

2,883,355

———

———

Net spread earned

2,468,341

2,618,799

Provision against non-performing Islamic financing and related assets-net

10.14

111,072

60,503

Reversal of  provision for diminution in the value of investments

9.7

(15,000)

Bad debts written of directly

———

———

Net spread after provisions/ (reversals)

96,072

60,523

———     ———

2,372,269

2,558,279

OTHER INCOME
Fee, commission and brokerage income

181,237

124,086

Dividend Income

2

2

Income from dealing in foreign currencies

100,957

63,285

Gain on sale of securities

25

219,892

Unrealised gain on revaluation of investments classified as held for trading

Other income

24

31,844

39,336

———

———

Total other income

533,932

226,709

———

———

2,906,201

2,784,985

OTHER EXPENSES
Administrative expenses

26

2,271,642

2,139,128

Other (reversals) / provisions /write offs

(4,754)

24,210

Other charges

27

12,871

13,060

———

———

Total other expenses

2,279,759

2,176,398

———

———

Extra ordinary/ unusual items

626,442

608,587

PROFIT BEFORE TAXTION

———

———

626,442

608,587

Taxation
– Current

28

32,710

57,242

– Prior years

28

1,340

– Deferred

28

182,879

140,449

———

———

215,589

199,031

———

———

PROFIT AFTER TAXATION

410,853

409,556

Accumulated loss brought forward

(227,340)

(554,985)

———

———

183,513

(145,429)

———

———

Rupees

Basic earnings per share

29

0.7782

0.7757

———

———

Diluted earnings per share

29

0.7782

0.775

The annexed notes 1 to 43 and Annexure 1 from an integral part of these financial statements.

Statement of Financial Position as at December 31, 2012

Note

2012

2011

2010

(Restated)

(Restated)

Rupees in ‘000

ASSETS
Cash and balances with treasury banks

6

4,938,707

4,684,826

3,035,148

Balances with other banks

7

806,110

549,277

569,622

Due from financial institutions

8

8,475,672

4,436,264

4,513,132

Investments

9

28,994,462

21,067,082

13,732,132

Investments

10

27,433,262

24,665,459

19,565,710

Islamic financing and related assets-net

11

1,913,106

1,811,628

2,066,680

Operating fixed assets

12

86,973

188,130

402,183

Deferred tax assets

13

1,587,738

1,418,648

1,151,096

———-

———-

———-

Other assets

74,236,030

58,821,314

45,035,703

Liabilities
Bills payable

14

1,251,010

796,853

563,020

Due to financial institutions

15

1,621,415

800,000

353,000

Deposits and other accounts

16

64,216,485

50,568,785

38,198,320

Sub-ordinate loans

Liabilities against assets subject to finance lease

Deferred tax liabilities

Other liabilities

17

1,574,666

1,341,038

1,154,977

———-

———-

———-

68,663,576

53,508,676

40,269,317

———-

———-

———-

NET ASSETS

5,572,454

5,312,638

4,766,386

———-

———-

———-

REPRESENTED BY
Share capital

18

5,279,679

5,279,679

5,279,679

Reserves

19

173,392

91,221

9,310

Unappropriated profit/ (accumulated losses)

101,342

(227,340)

(554,985)

———-

———-

———-

5,554,413

5,143,580

4,734,004

Surplus on revaluation of assets-net of tax

20

18,041

169,078

32,382

———-

———-

———-

5,572,454

5,312,638

4,766,386

———-

———-

———-

Contingencies and commitments

21

The annexed notes 1 to 43 and Annexure 1 from an integral part of these financial statements.

For more information, contact:
Director
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

The BankIslami Pakistan Limited’s material information

Karachi, December 14, 2012 (PPI-OT): Please refer to our letter dated November 2, 2012. Please be advised that State Bank of Pakistan has kindly granted extension to our Bank till February 28, 2013 to submit to SBP reassessed-issue price of right shares.

Kindly circulate this information to your members.

For more information, contact:
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

BankIslami Pakistan Limited’s material information

Karachi, November 02, 2012 (PPI-OT): Please refer to our letter dated October 23, 2012. Please be advised that the Bank has requested State Bank of Pakistan to extend the deadline upto November 30, 2012.

For more Information, contact:
Khawaja Ebrar ul Hassan
Head of Compliance and Legal
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

BankIslami Pakistan Limited’s board meeting

Karachi: This is to inform you that a meeting of the Board of Directors of the Bank will be held on Tuesday, March 20, 2012 at 4:00 pm at Registered Office of the Bank, in the meeting among other mailers the Board will also consider issuance of right shares to meet MCR requirement of State Bank of Pakistan.

The Bank has declared the “Closed Period” from March 14, 2012 to March 21, 2012 (both days inclusive) as required under Clause (xxvi) of the Code of Corporate Governance contained in the Listing Regulation No. 35 of the Exchange. Accordingly, no Director, Chief Executive or Executive shall directly/indirectly, deal in the shares of the Bank in any manner during the Closed Period.

For more information, contact:
Syed Shah Sajid Hussain
CFO and Company Secretary
BankIslami Pakistan Limited
11th Floor, Executive, Tower Dolmen City,
Marine Drive, Block- 4, Clifton Karachi.
Tel: 35839906
Fax: 35378373

The Karachi Stock Exchange (Guarantee) Limited’s suspension of trading in the shares of companies pursuant to the directives received from securities and exchange commission of Pakistan

Karachi: In continuation of our Notice No.KSE/N-158 dated January 12, 2012.

Pursuant to the directives received from Securities and exchange Commission of Pakistan vide letter No.SMD/SE/2 (199) /2009 dated March 13, 2012, trading in the shares of following companies shall remain suspended for a further period of 60 days with effect from March 15, 2012 under Section 9 (7) of the Securities and Exchange Ordinance, 1969:

 

1) Dadabhoy Insurance Company Limited
2) Progressive Insurance Company Limited
3)  Platinum Insurance Company Limited
4) The Union Insurance Company of Pakistan Limited

 

For more information, contact:
BankIslami Pakistan Limited
11th Floor, Executive, Tower Dolmen City,
Marine Drive, Block- 4, Clifton Karachi.
Tel: 35839906
Fax: 35378373