Standard Chartered Bank declares Rs13.72 bn as annual profit

Standard Chartered Bank declares Rs13.72 bn as annual profit

KARACHI: Standard Chartered Bank (Pakistan) Limited on Friday announced Rs13.72 billion as net profit for the year ended December 31, 2021.

The net profit of the bank slightly up when compared with Rs13.13 billion in the preceding year ended December 31, 2020, according to the financial results submitted to the Pakistan Stock Exchange (PSX).

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Standard Chartered Bank (Pakistan) Limited announced earnings per share at Rs3.55 for the year under review up from last year’s Rs3.39.

The board of directors of the bank in their meetings held on February 17, 2022, recommended a final cash dividend at 17.5 per cent i.e. Rs1.75 per share of Rs10 each for the year ended December 31, 2021. This in an addition to the 12.5 per cent interim dividend already paid in 2021.

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The Net Mark-up Income / interest income of the bank fell to Rs26.26 billion for the year ended December 31, 2021 as compared with Rs28.14 billion in the preceding year.

Total non mark-up / interest income also eased to Rs11.12 billion from Rs12.8 billion.

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The total income of the bank came down to Rs37.39 billion for the year ended December 31, 2021 as compared with Rs40.94 billion in the preceding year.

The operating expenses of the banks were flat at Rs11.54 billion as compared with Rs11.87 billion. The bank has shown provisioning of Rs494 million for the year under review as against provisioning and write offs to the tune of Rs4.94 billion in the preceding year.

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