Allied Bank fails expectations, RBS losses plummet further
ABL underperformed analysts’ expectations of their earnings by a decent margin and RBS losses plummeted further.
KARACHI:
ABL underperformed analysts’ expectations of their earnings by a decent margin and RBS losses plummeted further according to their earnings for the first half of 2010 which were made public today.
Allied Bank’s earnings increased by 18.4 per cent, Underperforming Elixir Securities’ expectations of a 23 per cent hike in yearly earnings and JS Global Capital’s expectations of 22 per cent. RBS’s losses increased to Rs1.21 per share in the half year ended June 30, as compared with Rs0.52 per share in the same period last year.
Faysal Bank recently acquired 99.37 per cent of the Royal Bank of Scotland and just five days ago bid to acquire the rest of the 0.63 per cent of the shares. RBS’s loss after taxation increased to Rs2.07 billion in the first half of 2010 as compared to Rs840 million in 2009.
Allied Bank
The bank’s net interest income increased to Rs10.59 billion, a jump of 21.7 per cent, as compared with Rs8.69 billion in the same period last year. This was mainly due to the increase in their interest earned being more than the increase in the money the expended to earn said interest.
The banks total non-interest income decreased by 20.2 per cent to Rs2.71 billion in the first six months of the year as compared to Rs3.4 billion in the same period last year. This was mainly due to their income from dealing in foreign currencies plummeting. Their dividend income, fee, commission and brokerage income also contributed to the decrease.
Allied Banks non-interest related expenses increased by Rs611.4 million, a jump of 12.2 per cent to Rs5.62 billion in the first half of 2010 as compared with Rs5.01 billion in the same period last year.
Royal Bank of Scotland
The bank’s net interest income after provisions increased by 44 per cent to Rs300 million in the first six months of 2010, as compared to Rs208 million in the same period last year. This increase was despite their net interest income earned decreasing by Rs1.51 billion and happened mainly due to them cutting the money used to earn said interest and cutting down on their non performing loans from Rs2.02 billion to Rs1.3 billion in the period ended June 30.
Their total non-interest income earned decreased by Rs1.58 billion, down 75 per cent, to Rs524 million in the second half of the fiscal year ended June 30 as compared with Rs2.1 billion in the same period last year.
Published in The Express Tribune, August 13th, 2010.
ABL underperformed analysts’ expectations of their earnings by a decent margin and RBS losses plummeted further according to their earnings for the first half of 2010 which were made public today.
Allied Bank’s earnings increased by 18.4 per cent, Underperforming Elixir Securities’ expectations of a 23 per cent hike in yearly earnings and JS Global Capital’s expectations of 22 per cent. RBS’s losses increased to Rs1.21 per share in the half year ended June 30, as compared with Rs0.52 per share in the same period last year.
Faysal Bank recently acquired 99.37 per cent of the Royal Bank of Scotland and just five days ago bid to acquire the rest of the 0.63 per cent of the shares. RBS’s loss after taxation increased to Rs2.07 billion in the first half of 2010 as compared to Rs840 million in 2009.
Allied Bank
The bank’s net interest income increased to Rs10.59 billion, a jump of 21.7 per cent, as compared with Rs8.69 billion in the same period last year. This was mainly due to the increase in their interest earned being more than the increase in the money the expended to earn said interest.
The banks total non-interest income decreased by 20.2 per cent to Rs2.71 billion in the first six months of the year as compared to Rs3.4 billion in the same period last year. This was mainly due to their income from dealing in foreign currencies plummeting. Their dividend income, fee, commission and brokerage income also contributed to the decrease.
Allied Banks non-interest related expenses increased by Rs611.4 million, a jump of 12.2 per cent to Rs5.62 billion in the first half of 2010 as compared with Rs5.01 billion in the same period last year.
Royal Bank of Scotland
The bank’s net interest income after provisions increased by 44 per cent to Rs300 million in the first six months of 2010, as compared to Rs208 million in the same period last year. This increase was despite their net interest income earned decreasing by Rs1.51 billion and happened mainly due to them cutting the money used to earn said interest and cutting down on their non performing loans from Rs2.02 billion to Rs1.3 billion in the period ended June 30.
Their total non-interest income earned decreased by Rs1.58 billion, down 75 per cent, to Rs524 million in the second half of the fiscal year ended June 30 as compared with Rs2.1 billion in the same period last year.
Published in The Express Tribune, August 13th, 2010.