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F INANCI

CY06 CY07Growth

Billion Rs.Share Capital ( 9.5 12 26.3%Reserves (RS) 5.4 15 177.80%Un Appropriat 15.6 40.7 160.90%Others (MISC) .8 0.4 -50.00%Total Sharehol 31.3 68.1 117.60%

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Financial Stat 2012

S A

F INANCIAL EC S

2008-2012

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S TATISTICS EPARTM DWH D

P S

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B

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Financial Statement Analysi

Vision and Mission Statements of St

Vision

To Transform SBP into a mode

professional and efficient, fully

sustainable basis, in the econo

Mission

To promote monetary and finan

dynamic financial system, so a

economic grow

ii

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te Bank of Pakistan

n and dynamic central bank, highly

quipped to play a meaningful role, on

ic and social development of Pakistan.

cial stability and foster a sound and

to achieve sustained and equitable

h and prosperity in Pakistan.

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Team Leader

? Shamsul A Sr. Joint Dir

Team Members

? Zia-ul-Qamar

? Azam Ali

? Shahid Lati Joint Direct

? Muhammad Saeed

iii

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of Financial Sector 2012

ctor

[email protected]

Joint Director

[email protected]

Joint Director

[email protected]

[email protected]

Assistant Director

[email protected]
http://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]://localhost/var/www/apps/conversion/tmp/scratch_2/[email protected]

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C O N T E N T S

Preface

Executive Summary

Introduction

1.1 Methodology

1.2 Concepts and Definitions

1.3 Performance Indicators

Review and Financial Analysis of:

Banks

Development Finance Institutions (DFIs)

Leasing Companies

Investment Banks

Mutual Funds (Close Ended)

Modaraba Companies

Exchange Companies

Insurance Companies

Housing Finance

Venture Capital

Appendix

Explanatory Notes

iv

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v

vi

1.

2.

3.

14.

25.

72.

83.

97.

107.

125.

154.

181.

239.

242.

245.

250.

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Financial Stat

Preface

The financial sector, one of the most important component

around 5% in the Gross Domestic Product essentially requi

economic well being of the country and its populace.

Pakistan s

nature including Banks, DFIs, Investment Banks, Le

Finance, Mutual Funds, Insurance Companies, Exchange

and transparency in information on business activities of fin

importance to all stakeholders.

An overview of business and financial conditions of financi

manner in form of financial statements. For large financial i

often complex and are prepared under international accou

include an extensive set of notes to the financial statementthe balance sheet, income statement and cash flow statem

The stakeholders and users, on the other hand, require fin

on how well the company is performing and what may hap

needs of the users, Statistics & Data Warehouse Departm

all financial institutions on annual basis. Every endeavour i

financial statements and compute ratios that can provide v

these institutions. The analysis is published in form of thi

Analysis of Financial Sector. The publication co vers analys

for the period 2008-12.

It is hoped that the publication will provide a tool to researc

the activities and performance of financial sector in Pakista

further improvements of the publication are very welcome.

(Dr Azizullah Khattak)

Director

Statistics & DWH Department

v

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ment Analysis of Financial 2012

of the countrhaving a share ofres a sound, stable and robust financial system for

asing Companies, Modaraba Companies, Housing

ompanies and Venture Capital. Disclosure

ancial institutions are therefore of immense

l institutions is presented in a structured

stitutions, the financial statements are

ting standards. These statements usually

. The notes typically describe each item onent in further detail.

ncial indicators that can provide information

en in future. In order to meet the growing

nt carries out analysis of the financial statements of

made to select useful and accurate data from

luable clues about the financial health of

s publicatioFinancial Statementss of financial statements of financial institutions

ers, policy makers and investors to understand

n. Comments on the analysis and suggestions for

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Executive Summary

Financial statements analysis of 180 companies from 1

companies, Investment Banks, Mutual Funds, Modarabas,

Housing Finance and venture capital are included in this pu

The balance sheet size of the banking sector expanded in

from Rs. 8.3 trillion in CY11 to Rs. 9.9 trillion in CY12 show

before taxation increased by 6.7 percent in CY12 over the

The balance sheet size of DFIs inc Shareholders equ0.9 percent over the last year. The profit before taxation de

taxation by 34.0 percent during the year.

Outlook of leasing sector in the country has not been enco

by 0.3 percent from Rs 33.8 billion in FY11 to Rs 33.7 billio

before taxation of Rs. 27.0 million in FY12 as compared to

The performance of investment banks has deteriorated ove

balance sheet size squeezed by 35.8 percent in FY12 over

same. Losses before and after tax have been Rs. 2.3 billio

Gross revenue also witnessed a decrease of 34.3 percent

Balance sheet size of Mutual Funds contracted by 6.1 pe

decreased from Rs. 25.9 billion in FY11 to Rs. 24.3 billion i

FY12 as compared to Rs. 4.3 billion for FY11.

Modaraba Companies performed well during FY12. Total a

FY11 to Rs 29.5 billion in FY12 showing an increase of 12.

increase of 4.0 percent in FY12 over FY11. Profit before an

& 16.2 percent respectively in FY12 over FY11.

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0 sectors namely Banks, DFIs, Leasing

Exchange companies, Insurance companies,

blication for the period 2008-12.

Y12 and total assets of the sector grew

ing an increase of 19.3 percent. Profit

revious year.

ity registered a reduction of

creased by 25.8 percent and profit after

raging during FY12. Asset base decreased

in FY12. The sector showed profit

Rs. 407.2 million in FY11.

r the year. Analysis revealed that their

FY11. The aggregate share capital remained

and Rs. 2.0 billion respectively in FY12.

uring FY12.

cent in FY12 over FY11. Total assets

FY12. Net income was Rs. 2.6 billion in

sets increased from Rs. 26.4 billion in

percent. Total equity witnessed an

d after taxation increased by 16.3 percent

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Exchange Companies exhibited an expansion in their balance s

review. Total assets increased by 6.1 percent to stand at Rs 8.0 bilbillion in CY11.Increases in profit before and after taxation

respectively was recorded in CY12 over CY11.

CY12 turned out to be positive for insurance sector in Pakistan. Tgrew sharply during CY12. Its balance sheet size expanded by 18.

billion in CY12. Profit before and after taxation increased consid

In the housing finance sector, there has been one company availaCompany Ltd. (HBFCL). Total assets witnessed an increase of arbillion in CY12 as compared to Rs. 19.6 billion in CY11. HBFC

Rs.172.1 million.

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heet size during the period under

lion in CY12 as compared to Rs 7.6of 63.9 percent and 61.0 percent

he aggregate insurance business8 percent and reached Rs 597.8

rably during CY12

le, i.e., House Building Financeund 3 percent to stand at Rs 20.1showed a loss before taxation of

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Introduction

Statistics and Data Warehouse Department strives hard to

produces primary data but also provides secondary data wi

including researchers and policy makers. As the performan

health of an economy, standard analytical tools are used to

1

The analysis includes the following sectors :

? Banks

? DFIs

? Investment Banks

? Leasing Companies

? Modaraba Companies

? Insurance Companies

?

Consolidation is provided at the beginning of each sectors anal

different levels. At first level, overall consolidation of all baninformation and ratios relating to number of ordinary share

value per share are not taken into consideration because

information. The level of consolidation for banks is as follo

? All Banks (overall)

? Local Bank

? Public Sect

? Private Sec

? Specialized

? Foreign Ba

Similarly, consolidated analysis of insurance companies is

Insurance Sector. The level of consolidation is as follows:

? Insurance Companies (overall)

1

Since each sector has peculiar business activities, theref

associated set of financial ratios has also been selected for each sector

2

Sector- wise list of analyzed financial institutions is pr

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Financial Statement Analysis of Financial 2012

disseminate quality statistics. It not only

th analysis to the various stakeholders

ce of financial sector reflects the financial

gauge the performance of this vital sector.

2

? Exchange Companies

? Mutual Funds (close ended)

? Housing Finance

? Venture Capital

sis. For banks, consolidation is at

ks including foreign banks is given. The, dividend earning per share and breakup

oreign banks do not have such type of

s:

r Banks

or Banks

Banks

ks

lso provided to reflect financial health of

re, for analysis separate set of variables was taken into consideration. Similarly, an

.

ppendix at the end of the text.1

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? Life Insurance

? Non-Life Insurance

? Takaful

1.1 Methodology

Methodology used for analysis is ratio analysis because it i

statements of any company. Ratio analysis measures inter-

financial statements. Ratios are ta for these are useful in eva

financial position and operation and making comparison wit

in the same industry. The primary objective of ratio analysi

investigation. Ratios are calculated from the following fin

accounts.

? Balance Sheet

? Profit and Loss Account

? Statement of Changes in Equity

? Cash Flow Statement

Total equity is computed as the sum of ordinary share

appropriated profit/loss while the revaluation, intangible as

total equity section. For foreign banks, the ordinary share c

account. Since the financial sector comprises variety of fin

activities, therefore, variables used for analysis would be di

2

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a powerful tool to analyze financial

relationship between various items of the

uating a companys

h results in previous years or with others

is to point out areas requiring further

ncial statements and relevant notes to

capital plus reserve & surplus plus un-

ets etc. ar in others of

pital is replaced by head office capital

ncial institutions having peculiar business

ferent for each sector.

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1.2 Concepts and Definitions

Banks and Development Finance Institutions (DFIs)

Following variables are used for analysis of banks & DFIs:

Shareholders EquityThe sum of following items except others is considered for an

? Ordinary Share Capital? Reserves

? Un-appropriated Profit/

? Others

Liabilities

Bills Payables, borrowings and deposits being the maj

liabilities of banks and DFIs are taken for analysis, the rem

pooled under others:? Bills Payables

? Borrowing from Financi

? Deposits and Other Ac

? Others

Assets

The following items are included in the analysis. The releva

balance sheet as well as respective notes to accounts.

? Cash and Balances wit

? Balances with Other Ba

? Lending to Financial In

? Investment

? Gross Advances

Profit and Loss Account

The following items are included for analysis. The relevant

and loss accounts and notes to financial statements.

? Interest Earned

? Interest Expensed

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Financial Statement Analysis of Financial Sector 2012

alysis:

or Head Office Account (in case of foreign bank)

oss

r items contributing towards

ining heads of liabilities are

l Institutions

ounts

nt information is taken from

Treasury ? Advances

nks ? Provision Against Advances

titutions ? Advances Net of Provision

? Fixed Assets

? Others

igures are obtained from profit

? Non-Interest Income

? Non-Interest Expense

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? Net Interest Income

? Provision and Write-offs

? Net Interest Income after Provision

Other Items

? No. of Ordinary Shares

Outstanding shares at end of the p

? Cash Dividend

The amount of cash dividend is tak

period.

? Stock Dividend/Bonus Shares

The number of bonus shares decla

distributed during the period.

? Cash Generated from Operating

The amount is taken from cash flo

?

Commitment and Contingencies

This is an off balance sheet item. T

the sum of all kinds of commitment

Leasing Companies

Following variables are involved in the analysis of leasing c

Shareholders Eq uityShareholders equity includes share capital, reserves

other item(s) mentioned in the balance sheet under shareholdershead others.

Liabilities

Borrowings from financial institutions and deposits with fina

items contributing towards liabilities of leasing companies.

taken separately while the remaining items of liabilities are poole

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? Administrative Expenses

? Profit/Loss before Tax

? Profit/Loss after Tax

riod as shown in balance sheet.

n as the percentage declared during the

ed is also taken as percentage amount

ctivities

statement

he detail is given in notes to accounts and

and contingencies is taken for analysis.

ompanies:

and un-appropriated profit/loss. Any

equity is pooled under the

ncial institutions are the major

or analysis, these two items are

under others

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Assets

Assets are classified into current and non-current. Major ite

mentioned below where remaining items of no current asset

Non-Current Assets

? Term Deposit Certificates

? Net Finance-Investment

? Advances

? Fixed Assets

? Others

Current Assets

Three main items are taken for analysis while the rest are pooled

? Cash and Balances with Central Bank

? Balances with Other Banks

? Placement with Other Banks

? Others


The amounts reported under the following heads are extra

along with relevant notes to accounts:

? Income from Operating Lease ?

? Income from Investment ?

? Income from Finances ?

? Other Income

Other Items


The number of shares outstanding as on balan

? Cash Dividend

The amount of cash dividend is taken as perce

the period.

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ms of non-current assets are

are pooled under others

nder others

ted from profit and loss accounts

Administrative Expenses

Profit/Loss before Tax

Profit/Loss after Tax

e sheet date

tage of the dividend declared during

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? Stock Dividend

The number of bonus shares decla

period.

? Cash Generated from Operating Activities

The amount is taken from the cash

Investment Banks

Following variables are used in the analysis of investment

Shareholders Equity

The composition and explanation hareholders equity is saLiabilities

The amount of current and non-current liabilities is taken

sum of these two is the same as total liabilities of the comp

Assets

Current assets are classified into cash and bank balances andassets are divided into three heads i.e., long te

Current Assets Non-Curre

? Cash and Banks Balan ?

? Others ?

?


The following items are taken for analysis. Th

and loss account and notes to financial statement

? Gross Revenues

? Administrative and Operating Expe

? Operating Profit



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ed is also taken as percentage amount during the

flow statement.

anks:

e as explained earlier.

from the balance sheet and the

any.

others wh -currentm investment, fixed assets, and others.

t Assets

Long Term Investment

Fixed Assets

Others

relevant figures are taken from profit

s.

ses

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Other Items

These include:


? Cash Dividend

? Stock Dividend

? Cash Generated from Operating A

Mutual Funds (Close Ended)

The analysis includes the following variables:

Shareholders EquityThe composition and explanation o hareholders equity is sa

Liabilities

As the financial activities of mutual funds are limited, the co

into two heads as follows:

? Payable to Investment Adviser

? Others

Assets

The asset base of mutual fund is also not broad, therefore,

items. These are available in the companys balance sheet and n

? Cash and Banks Balances

? Investment

?Others


The following items are taken into consideration for an

obtained from profit and loss account and notes to financial

? Interest Income ? Other Inco

? Dividend Income ? Remunerati

Co-advisor

? Net Gain on Sale of In ? Remunerati

? Net Unrealized Gain ? Brokerage,

? Income from Future ? AdministratiTransactions Expenses

? Capital Gain ? Other Expe

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tivities

e as explained earlier.

mposition of liabilities is divided

for analysis it is limited to three

tes to financial statements.

alysis. The relevant figures are

statements.

e

on to Management

on to Trustees/Custodian

Commission /Fee

ve and General

nses

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Financial Stat

Other Items

The information on the following is extracted from the bala

financial statements:


? Cash Dividend

? Stock Dividend


Modaraba Companies

Following variables are included in the analysis of modarab

Certificate Holders Equity

Modaraba company issues certificates instead of shares.

through issuing certificates is termed as certificate capital. For anequity is the sum of certificate capital, reserves, and un

items under the section of certificate holders equity is pooled und? Certificates Capital

? Reserves

? Un-appropriated Profit/Loss

? Others

Liabilities

These include current and non-current liabilities taken from

Assets

The current and non-current assets and their break up are

current assets the amount of cash and bank balances is ta

current assets are pooled under others. Staken individually while the remaining non- current asset

Current Assets

? Cash and Banks Balan

? Others

8

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ment Analysis of Financial Sector 2012

ce sheet and relevant notes to

tivities

a companies:

herefore the amount subscribed

lysis, certificate holders-appropriated profit/loss. Any other

r the head of others.

the balance sheet.

aken from balance sheet. In case of

en separately while the remaining

imilarly, long term investment and fixed assets areare pooled under others.

Non-Current Assets

es ? Long Term Investment

? Fixed Assets

? Others

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Financial Stat


The following items are taken for analysis. The relevant figures are tak

account and notes to financial statements.

? Gross Revenues ?

? Operating Expenses ?

? Operating Profit ?

Other Items

These include:

? No. of certificates outstanding as mentioned in

? Cash Dividend

? Stock Dividend

? Cash Generated from Operating Activities

Exchange Companies

Following variables are included for analysis of exchange companies:

Shareholders Equity

? Share Capital

? Reserves

? Accumulated Profit/Loss

? Others

Liabilities

These include:

? Current Liabilities

? Non-current Liabilities

Assets

These include:

Current Assets


? Others

9

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n from profit and loss

Modaraba Company Management Fee

Profit/Loss before Tax

Profit/Loss after Tax

balance sheet.

Non-Current Assets

? Long Term Investment

? Fixed Assets

? Others

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The following items are taken from profit and loss account

? Revenues

? Admin and General Expenses



Other Items

The following items are extracted mainly from notes to acc


? Cash Dividend

? Stock Dividend


Housing FinanceFollowing variables are involved in the analysis of housing

Shareholders Equity

The total shareholders equity is taken as sum of share capital, reprofit/loss while other items in the s hareholders equity secti

under others.? Share Capital

? Reserves? Un-appropriated profit/Loss

? Others

Liabilities

These include current and non-current liabilities, the amou

finance are extrac ted from n -

current liabilities are pooled under others.? Current liabilities

? Noncurrent liabilities

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f the company:

unts of the company:

tivities

inance company:

serves, and -appropriatedn of balance sheet are pooled

ts of lease finance and long-term

-

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Financial Stat

? Lease Finance

? Long Term Finance

? Others

Assets

The following items of current and non-current assets are taken for ana

Current Assets


? Others

Profit and Loss account

The items included in the analysis are:

? Revenue

? Admin. and Operating Expenses

? Other Expenses? Profit before Tax

? Profit after Tax

Other Items

These include:


? Cash Dividend

? Stock Dividend


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lysis:

on-Current Assets

? Investment in Housing Finance

? Fixed Assets

? Others

tivities

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Financial Stat

Venture Capital

Following variables are included in the analysis of venture

Shareholders Equity

The shareholders equity is the sum of share capital, reserve andwhile the remaining items are pooled under others.

? Share Capital

? Reserves

? Un Appropriated Profit/Loss

? Others

Liabilities

These include current and non-current liabilities.

? Current Liabilities

? Non-Current Liabilities

Assets

The current and non-current assets include.

Current Assets Non-Cur

? Cash and Bank Balanc

? Investment

? Others


The following items are included in the analysis.

? Income

? Admin. and Operating Expense

? Operating Profit

? Profit/Loss Before Taxation

? Profit/Loss After Taxation

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apital:

un -appropriated profit/loss,

ent Assets

? Investment

? Venture Investment

? Fixed Assets

? Others

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Other Items

These include:


? Cash Dividend

? Stock Dividend


Insurance Companies

Following variables are involved in the analysis of Insuranc

Shareholders Equity

These include:

? Share Capital

? Reserves

? Un-appropriated Profit/

? Others

Liabilities

These include :

? Balance in the Statutor

? Outstanding Claims, Pr

Due to Other Insurers

? Other Liabilities

Assets

These include:

? Cash and Balances with Banks

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Financial Statement Analysis of Financial 2012

tivities

Companies:

oss

Fund

miums Received in Advance, Amount

? Advances

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Financial Stat

? Deposit with Banks

? Investment in Govt. and Other

Securities

? Investment in Securities and Prope


These include:

? Interest/Investment Inc

? Net Premium

? Gross Premium

? Gross Claims

Other Items

These include:


? Cash Dividend

? Stock Dividend


1.3 Performance IndicatorsPakistans financial sector is an integration of institutions of div

Leasing Companies, Modaraba Companies, Insurance Co

ratios used to analyze these sectors may be different in so

business activities but some ratios are common to all

explanations are given below which may be read in combin

separately.

Efficiency/Profitability Ratio

Spread Ratio???????? ??????

= ???????? ?? ? !

14

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? Loan to Employees

? Other Assets

ties

me ? Net Claims

? Underwriting Profit

? Profit before Tax

? Profit after Tax

tivities

rsified nature including Banks DFIs,

panies, Investment Banks, etc. Therefore,

e cases as different sectors have peculiar

sectors. Some important ratios and their

ation with the analysis sheet of each sector

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Spread is the gap between interest rate a bank charges on

of total interest earned divided by the total interest paid to

statement. This ratio is useful for Banks and DFIs.

Net Interest Margin Ratio

????? ???????? ?????? ?

= ????? ??????

This ratio indicates the earning capacity through core banki

normally borrow from savers and lend to investors. It is the

income and interest expense to total assets. It is also usefu

Return on Assets (ROA)??? ?????? ????? ???

? ????? ????? ?!

This ratio expresses the capacity of earning profit by a ba

business. It is calculated as percentage of net profit after ta

financial sector.

Return on Equity (ROE)??? ?????? ????? ???

? ????? ????? ?

Total Shareholders Equity (Pakistani Banks)

(Loss)

Total Shareholders Equity (Foreign Banks) =H.O Capital Acco

This ratio expresses the return on shareholders equity. ROE is a

sha reholders. It is calculated as a percentage of the net

is also useful for whole financial sector.

Non-Interest Income to Total Assets Ratio????? ?????????? ??????

? ????? ????? ?!

Ratio on incomes earned other than mark-up e.g. capital g

ratio expresses how much income is earned other than ma

employing total assets. It is useful for Banks and DFIs.

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Financial Statement Analysi 2012

loans and rate pays on deposits. The amount

epositors as mentioned in the income

???? ???????? ???????

*100

ng business by utilizing all assets. Banks

ratio between the difference of interest

l for Banks and DFIs.

nk on its total assets employed in the

x to total assets. It is useful for whole

*100

= Share Capital + Reserves + Un-appropriated Profit

nt + Reserves +Unremitted Profit

direct measure of returns to the

rofit after tax to total Shareholders equity. It

ins, commission, fee to total assets etc. This

k-up through other functions of the bank by

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Interest Ratio???????? ????

? ???????? ?? ?!

This ratio expresses the payment of interest mainly to depo

company is burdened by debt expenses. It is useful for Ba

Administrative Expenses to Profit before Tax?????????????? ????????

? ?????? ?????? ???

This ratio expresses the relationship between administrativ

for whole financial sector.

Net Interest Income after Provision to Total Assets??? ???????? ?????? ????? ?????????

? ????? ??????

This is the ratio between interests earned less provision to

Non-Interest Expenses to Total Income???????????? ????????

? ????? ??????

The ratio expresses the percentage of non-interest expens

management in applying the banks resources. It is useful for Ba

Administrative Expenses to Non-Interest Income?????????????? ???????

? ???????????? ??????

This ratio expresses total administrative expenses to non-i

DFIs.

Earnings per Share (EPS)??? ?????? ????? ???

? ?? ?? ???????? ??????

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sitors. The lower the ratio, the less the

ks and DFIs.

expenses and profit before tax. It is useful

? !

otal assets. It is useful for Banks and DFIs.

? !

s to total income which reflects efficiency of

ks and DFIs.

terest income. It is useful for Banks and

16

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EPS is the ratio between net profit after tax to number of s

shown in balance sheet and its relevant notes to accounts.

for Modaraba Companies where certificates are issued for

Return on Capital Employed (ROCE)?????? ?????? ???

? ?????? ?????? ? ??????? ????????????

ROCE is a ratio that indicates the efficiency and profitability of a

amount of capital employed is calculated by subtracting cu

for whole financial sector except for banks, DFIs, Insuranc

Return on Revenue (ROR)??? ??????

? ??????? ?!

This is a measure of a companys profitability,

is useful for Leasing Company, Mutual Fund, etc.

Lease Ratio????? ??????

? ????? ?????? ?!

The core function of a leasing company is to earn profit fro

expresses how much portion of total income is being gener

for leasing company.

Operating Expense Ratio

????????? ???????

? ??? ?????? *100

It is a measure of operating efficiency i.e., how well the ma

expense ratio can be used to gauge the general health of t

Modaraba and Investment Banks.

Gain Ratio????? ?????

? ????? ????? ? !

A total gain comprises gain on sales of securities, gain on rterm investment, etc. It is useful for Mutual Fund.

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ares outstanding at the end of the year as

It is useful for whole financial sector except

aising capital.

*100

companys capital investments. The

rent liabilities from total assets. It is useful

, mutual fund.

calculated as net income divided by revenue. This ratio

operating and financial lease. This ratio

ated through its core business. It is useful

agement controls its expenses. Operating

e core or other businesses. It is useful for

e-measurement, gain on disposal of long-

17

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Trading Income Ratio???? ?? ???? ?? ???????????

? ????? ?????? ?!

The core business of mutual fund is to gain from trading of

reflects that funds are being efficiently managed. Both figur

is useful for Mutual Fund.

Management Expenses Ratio???????????? ?? ???????

? ????? ???????? * 100

For mutual funds management expenses ratio is calculated

total expenses.

Net Investment in Finance Lease to Total Assets??? ?????????? ?? ??????? ?????

? ????? ??????This ratio expresses the relationship of net investment in fi

useful for leasing companies.

Earning per Certificate?????? ????? ???

? ?? ?? ????????????

The ratio between profits after tax to number of certificatesreflects how much amount is earned on each certificate. It i

Net Claims incurred Ratio??? ??????

? ??? ??????? *100

This expresses the efficiency of insurance company and is

premium. Higher ratio indicates that the incurrence of claim

insurance companies.

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shares and securities and the higher ratio

es are taken from the income statement. It

by dividing remuneration to adviser by

? !ance lease to total assets. This ratio is

is an important efficiency ratio because its useful for Modaraba Companies.

calculated as the claim incurred on net

s is more than premium. It is useful for

18

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Financial Stat

Underwriting profit to Net profit???????????? ??????

? ??? ?????? ?!

The ratio shows the percentage of underwriting profit as of

underwriting income and expenses of the cost of obtainin

insurance companies.

Investment Income to Net Premium

?????????? ??????? ??? ??????? ? !

The ratio shows the relationship between investment incom

used to measure efficiency of an insurance company.

Liquidity Ratios

Cash and Balances with Banks to Total Assets???? ??? ???????? ???? ?????

? ????? ????? ?!

This ratio expresses the percentage of total assets availabl

Total Deposit and other Accounts to Total assets????? ??????? ??? ????? ????????

? ????? ?????? ?!

The ratio shows what percentage of total assets comprises

Investment and Total Assets

????? ??????????? ????? ????? ?!

The ratio between Investment and total assets shows inves

assets. It indicates the portion of total assets used for inves

for banks, DFIs and insurance companies.

19

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ment Analysi 2012

net profit. Underwriting profit is net of

new policies. This ratio is useful for

e and net premium. This is one of the ratios

in the form of highly liquid assets.

total deposits and other accounts.

tment activity with reference to its total

tment in various venues. This ratio is useful

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Financial Stat

Advances and Total Assets???????? ?????

? ????? ????? ?!

This ratio expresses the relationship of advances (net) to t

DFIs.

Total Liabilities to Total Assets

????? ???????????

? ????? ????? ?!

The ratio shows the proportion of banks assets, which are

for banks and DFIs.

Gross Advances to Deposits????? ????????

? ???????? *100

The ratio expresses the percentage of gross advances to

deposits in the core business of a bank, i.e., intermediation

Gross advances to Borrowing and Deposits????? ????????

? ?????????? ? !

The ratio expresses the percentage of gross advances to d

activity of a banking business as it reflects that advances a

ratio is useful for banks and DFIs.

Current Ratio

??????? ??????

? ??????? ???????????

This ratio shows how many times current assets cover

company to pay immediate liabilities. This ratio is used for

and DFIs.

Long Term Investment to Total Assets???? ???? ????? ??????????

? ????? ????? ? !

The ratio between long-term investments to total assets sh

total assets. It indicates the portion of total assets used to i

20

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ment Analysi 2012

tal assets. This ratio is useful for banks and

inanced through debt. This ratio is useful

eposits and expresses the utilization of

. This ratio is useful for banks and DFIs.

eposits and borrowings. This ratio shows

e being made more/less than deposits. This

urrent liabilities and the strength of the

hole financial sector except for banks

ws investment activity with reference to its

vest in different venues.

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Assets Quality Ratios

Non-Performing Loans (NPLs) to Gross Advances????

? ????? ????? ?!

This ratio expresses the quality of loan portfolio of a bank. I

advances made by a bank and evaluates assets quality ba

banks and DFIs.

Provision against NPLs and Gross Advances????????? ??????? ????

? ????? ????? ?!

The ratio between provisions against classified loans/adva

advances of banks and DFIs.

NPLs to Equity Ratio

????

? ????? ????? ? !Where,

Total Shareholders Equity (Pakistani Banks) = Share Capital + Reserves + U

Total Shareholders Equity (Foreign Banks) =H.O Capital Account + Reserve

The ratio between NPLs to shareholders equity indicates the exNPLs. This ratio is useful for banks and DFIs.

NPLs write-off to NPLs Provision Ratio

???? ?????????

? ???? ?????? ? !

This ratio is calculated for banks and DFIs.

NPLs Provision to NPLs Ratio

????????? ??? ????

? ???? ?!

The ratio reflects what percentage of provision has been m

Banks and DFIs.

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t shows the percentage of NPLs as gross

ed on loan portfolio. This ratio is useful for

ces to gross advances reflects the quality of

-appropriated Profit (Loss)

s +Unremitted Profit

osure of the common shareholders to

de against NPLs. This ratio is useful for

21

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Capital/Leverage Ratios

Capital Ratio????? ?????

? ????? ????? ? !

Where,

Total Shareholders Equity (Pakistani Banks)(Loss)

Total Shareholders Equity (Foreign Banks) =H.O Capital AccoThe ratio between shareholders equity and total assets expressesassets.

Contingent Liabilities and Commitment to Shareholders E?????????? ???????????

? ???????????

The ra tio between contingent liabilities and commitments tof contingent liabilities and commitments by banks.

Break-Up Value per Share????? ?????

? ?? ?? ???????? ??????

Break-up Value is net worth per share and is an important

a company. The break-up value is calculated for whole fina

and Modaraba Companies.

Deposits to Equity Ratio

????? ????????

? ????? ????? ?

The ratio shows the relationship between total deposits in a bank

Break-up Value per Certificate

???????? ??????????? ??

? ?? ?? ???????? ????????

Break-up value is net worth per certificate and is one of the

soundness of a company. This ratio is calculated for Modar

Capital Ratio (Modaraba Company)???????? ??????????? ??

? ????? ??????

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= Share Capital + Reserves + Un-appropriated Profit

nt + Reserves +Unremitted Profit.the percentage of equity in total

uity?? ???????????

o shareholders equity expresses exposure

riterion to measure financial soundness of

ncial sector except in case of foreign banks

o the total shareholders equity.

?

???

important criteria to measure the financial

aba Companies only.

? !

22

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Financial Stat

The ratio expresses the percentage of equity in total assets

only.

Cash Flow Ratios

Cash Flow to Profit after Tax???? ????????? ???? ????????? ??????????

= ?????? ????? ???

The ratio expresses proportions of cash being spun off fro

for the whole financial sector.

Cash flow to Current Liabilities Ratio???? ????????? ???? ????????? ??????????

? ??????? ???????????

The ratio reflects cash generation strength of a company t

calculated for all sectors except investment banks, insura

funds.

23

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. It is calculated for Modaraba Companies

ongoing operations. This ratio is useful

o meet current liabilities. This ratio is

ce companies, banks, DFIs and mutual

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Review and Financial An

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of Financial Sector 201 1

alysis

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B ANKS

P ERFORMAN G LANCE

The balance sheet size of the banking sector expanded in

from Rs. 8.3 trillion in CY11 to Rs. 9.9 trillion in CY12 show

before taxation increased by 6.7 percent in CY12 over the

A NALYSIS OF B S C

Total equity of banking sector witnessed an

increase of Rs. 66.5 billion or 8.6 percent in

CY12 over CY11. The growth in total equity

of Pakistani banks has been 9.3 percent over

the previous year whereas growth in total

equity of foreign banks was negative during

CY12 and witnessing a decrease of 4.7

percent over previous year.

A NALYSIS OF L

Total deposits rose to Rs 7.4 trillion in CY12

as compared to Rs 6.3 trillion in CY11

showing an increase of 17.2 percent. The

deposits had a share of around 82.5 percent

in total liabilities in CY12, while the

remaining components of liabilities i.e., bills

payables, borrowings and others contributed

approximately 17.5 percent share of total

liabilities.

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Y12 and total assets of the sector grew

ing an increase of 19.3 percent. Profit

revious year.

Components of Balance Sheet

12000 2,500.%

10000 2,000.% 1,900.% 2,000.%

8000

1,500.%

Billion Rs. 6000 1,000.%

4000 900.%

2000 500.%

0 0.0%

Total SHE Total Total AssetsLiabilities

CY 11 776 7487 8295

CY 12 842 8981 9896

Growth 900.% 2,000.% 1,900.%

Share of Components in Total Liabilities

100.%

80.% Others

Deposits

60.% Borrowings

40.% Bills payable

20.%

0.0

CY 11 CY 12

25

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A NALYSIS OF A

Total assets of the banking sector

increased from Rs 8.3 trillion in 50004500

CY11 to Rs 9.9 trillion in CY12 40003500

registering an increase of 19.3 30002500

percent. Investment grew by 32.1 2000Billion Rs.

percent while gross advances by 12.2 15001000

percent in CY12. 5000

Lending to financial institutions CY 11CY 12

decreased by Rs 36.9 billion or 17.8 Growth

percent in CY12 over CY11. In case

of Pakistani banks, the lending decreased by 25.7 percent i

it increased by 64 percent.

Banks advances increased to Rs 4.3

trillion in CY12 showing an increase

of 12.2 percent over CY11. NPLs 5000

4500increased to Rs 600.2 billion in CY12 4000

3500

compared to Rs 573.1 billion in 30002500

2000

CY11. NPLs to advances ratio Billion Rs.1000

decreased to 13.9 percent in CY12 as 5000

compared to 14.9 percent in CY11.CY 11

NPL to total equity reduced from 73.9 CY 12Growth

percent in CY11 to 71.3 percent in

CY12. Further, NPLs provision to

NPLs increased to 71 percent in CY12 from 70 percent in26

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Major Components of Assets 4,500.%

3,500.%

3,200.%

2,500.%

1,800.% 1,500.%

1,200.%

500.%

-500.%

-1,800.% -1,500.%

-2,500.%

Cash &

Lending Investment Advances

Cash Equl.896 208 3079 3838

1060 171 4066 4307

1,800.% -1,800.% 3,200.% 1,200.%

n CY12, however, in case of foreign banks,

Analysis of Advances

1,300.% 1,400.%

1,200.% 1,200.%

1,000.%

800.%

600.%

1500 600.% 400.%

500.%

200.%

0.0%

Adv. Gross NPL Provision Adv. Net

3838 573 401 3437

4307 600 426 3881

1,200.% 500.% 600.% 1,300.%

Y11.

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P ROFITABILI O PERATING E[

In terms of profitability of banking sector,

CY12 witnessed an increase of around 6.7

percent in profit before taxation to

Rs183.2 billion during CY12 compared to

Rs 171.7 billion in CY11. Profit after Billion Rs.

taxation increased from Rs 115.5 billion

in CY11 to Rs 121.4 billion in CY12,

showing an increase of 5.1 percent.

Looking at the efficiency ratios, the return

50.%on assets (ROA) and return on equity 45.%

(ROE), it is found that, ROE decreased 40.%35.%

from 14.9 percent in CY11 to 14.4 30.%25.%

percent in CY12 while ROA decreased Growth15.%

from 1.4 percent in CY11 to 1.2 percent 10.%

in CY12. Spread ratio of banking sector

decreased to 42.9 percent in CY12 from

46.1 percent in CY11.

On the income side, Interest/mark-up

income during CY12 was Rs 799.5

billion as compared to Rs 752.6 billion

in CY11 witnessing an increase of Rs

46.9 billion or 6.2 percent over CY11. CY 12

Non-interest/non-markup income also

increased from Rs 111.8 billion during

CY11 to Rs 143.5 billion during CY12,

CY 11depicting an increase of 28.4 percent

over CY11 Interest income to total

income decreased to 84.8 percent in

CY12 as compared to 87.1percent in CY11. Non-interest in

from 12.9 percent in CY11 to 15.2 percent in CY12.27

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CY 12 CY 11

400.

350.

300.

183.2

250.

200. 121.4

150.

100. 171.7

115.5

50.

0.0

Profit Before Taxation Profit After Taxation

CY 11 CY 12

46.1%42.9%

20.% 14.9% 14.4%

5.% 1.4% 1.2%

0.0

Spread Ratio ROE ROA

Interest Inco Non-Interest Income

84.8% 15.2%

87.1% 12.9%

Percentage.

come to total income increased

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Financial Stat

All Banks - Overall

Items 2008A.Total equity (A1 to A3) 505,469,823.

1.Share capital/head office capital account 277,045,918.

2.Reserves 148,257,246.

3.Un appropriated profit 80,166,659.

4.Others 62,957,129.

B.Total liabilities (B1 to B4) 5,074,573,57

1.Bills payable 69,530,488.

2.Borrowings from financial institutions 460,028,229.

3.Deposits and other accounts 4,226,432,56

4.Other/misc. liabilities 318,582,286.

C.Total assets (C1 to C4 + C8 to C10) 5,643,000,52

1.Cash and balances with treasury banks 477,615,770.2.Balances with other banks 184,087,341.

3.Lending to financial institutions 188,414,080.

4.Investments 1,085,196,33

5.Gross advances 3,417,406,34

6.Advances-non-performing/classified 313,020,509.

7.Provision against advances 237,965,887.

8.Advances net of provision (C5 - C7) 3,179,440,45

9.Fixed assets 191,279,879.

10.Other/misc. assets 336,966,665.

D.Profit & loss account

1.Markup/interest earned 482,070,799.

2.Markup/interest expenses 246,295,314.

3.Net markup/interest income 235,775,485.

4.Provisions and write-offs 104,266,763.

5.Net markup/interest income after provisions 130,344,598.

6.Non-markup/interest income 103,289,492.

7.Non-markup/interest expenses 166,010,509.

8.Administrative expenses 160,702,985.

9.Profit/(loss) before taxation 63,261,197.

10.Profit/(loss) after taxation 43,415,974.

E.Other items

1.Cash generated from operating activities 1,849,272.

2.Commitments and contigencies 2,565,591,27

F.Efficiency ratios/profitability ratios

1.Spread ratio (D3/D1) 48.91%2.Net markup/interest margin (D1-D2)/C 4.18%

3.Return on equity (ROE) (D10/A) 8.59%

4.Return on assets (ROA) (D10/C) .77%

5.Non-markup/interest income to total assets (D6/C) 1.83%

6.Net markup/interest income(after provisions) to total assets(D5/C 2.31%

7.Markup/interest expense to markup/interest income (D2/D1) 51.09%

8.Admin. expesne to profit before tax. (D8/D9)(times) 2.54

9.Non-markup/interest expense to total income D7/(D1+D6) 28.36%

10.Admin. expense to non-markup/interest income(D8/D6)(times) 1.56

G.Liquidity ratios

1.Cash & cash equivalent to total assets (C1+C2)/C 11.73%

2.Investment to total assets (C4/C) 19.23%3.Advances net of provisions to total assets (C8/C) 56.34%

4.Deposits to total assets (B3/C) 74.9%

5.Total liabilities to total assets (B/C) 89.93%

6.Gross advances to deposits (C5/B3) 80.86%

7.Gross advances to borrowing & deposits C5/(B2+B3) 72.92%

H.Assets quality ratios

1.Non-performing loans to gross advances (C6/C5) 9.16%

2.Provision against NPLs to gross advances (C7/C5) 6.96%

3.NPLs to total equity (C6/A) 61.93%

4.NPLs write off to NPLs provision (D4/C7) 43.82%

5.Provision against NPL to NPLs (C7/C6) 76.02%

I.Capital /leverage ratios

1.Capital ratio (A/C) 8.96%

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2.Commitments & contingencies to total equity (E2/A) (times) 5.08

3.Total deposit to total equity (B3/A) (times) 8.36

J.Cash flow ratio

1.Cash generated from operating activities to profit after tax (E1/D1 .04

28

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(Thousand Rupees)

2009 2010 2011 2012582,598,286. 608,877,873. 775,509,119. 841,961,117.

322,555,374. 348,918,576. 452,485,660. 466,753,970.

163,552,147. 180,810,459. 188,764,710. 215,437,093.

96,490,765. 79,148,838. 134,258,749. 159,770,054.

84,003,150. 88,918,247. 32,403,813. 73,986,937.

5,864,049,25 6,487,089,83 7,487,012,74 8,980,526,575

71,535,885. 75,421,757. 85,260,553. 112,340,488.

659,274,039. 550,000,562. 683,657,769. 1,032,462,262

4,797,876,21 5,513,917,02 6,322,351,44 7,412,335,990

335,363,119. 347,750,493. 395,742,974. 423,387,834.

6,530,650,69 7,184,885,95 8,294,925,67 9,896,474,628

537,292,488. 595,747,162. 702,543,369. 842,600,994.195,972,436. 180,559,909. 193,122,487. 217,533,957.

238,445,016. 214,680,843. 207,550,849. 170,628,139.

1,708,679,93 2,175,903,42 3,079,015,04 4,065,901,747

3,564,239,82 3,789,016,13 3,838,001,91 4,306,883,138

425,320,610. 562,428,103. 573,055,250. 600,208,608.

304,669,387. 372,648,121. 400,846,488. 426,045,957.

3,259,570,43 3,416,368,01 3,437,155,43 3,880,837,181

192,043,955. 203,626,548. 218,291,515. 225,158,715.

398,646,428. 398,000,047. 457,246,978. 493,813,895.

593,703,103. 630,569,606. 752,638,230. 799,520,878.

326,058,617. 337,669,590. 407,410,190. 456,268,314.

276,157,706. 287,472,434. 346,556,416. 343,252,564.

113,917,187. 78,361,932. 60,554,101. 39,757,645.

162,212,990. 212,455,704. 298,589,035. 303,494,918.

106,091,369. 105,468,634. 111,791,427. 143,507,792.

190,059,825. 207,934,611. 233,025,411. 252,070,262.

182,414,959. 201,053,704. 228,321,908. 258,767,558.

69,304,886. 113,795,360. 171,693,258. 183,228,944.

48,198,550. 71,158,233. 115,504,513. 121,437,317.

604,337,114. 502,982,911. 1,036,423,91 1,160,622,157

3,078,623,55 3,121,226,58 3,725,659,70 3,815,235,353

46.51% 45.59% 46.05% 42.93%4.1% 4.08% 4.16% 3.47%

8.27% 11.69% 14.89% 14.42%

.74% .99% 1.39% 1.23%

1.62% 1.47% 1.35% 1.45%

2.48% 2.96% 3.6% 3.07%

54.92% 53.55% 54.13% 57.07%

2.63 1.77 1.33 1.41

27.16% 28.25% 26.96% 26.73%

1.72 1.91 2.04 1.8

11.23% 10.8% 10.8% 10.71%

26.16% 30.28% 37.12% 41.08%49.91% 47.55% 41.44% 39.21%

73.47% 76.74% 76.22% 74.9%

89.79% 90.29% 90.26% 90.74%

74.29% 68.72% 60.71% 58.1%

65.31% 62.48% 54.78% 51.%

11.93% 14.84% 14.93% 13.94%

8.55% 9.83% 10.44% 9.89%

73.% 92.37% 73.89% 71.29%

37.39% 21.03% 15.11% 9.33%

71.63% 66.26% 69.95% 70.98%

8.92% 8.47% 9.35% 8.51%

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5.28 5.13 4.8 4.53

8.24 9.06 8.15 8.8

12.54 7.07 8.97 9.56

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Financial Stat

Local Banks - Overall


1.Share capital 244,915,598.

2.Reserves 148,181,461.


4.Others 63,489,982.

B.Total liabilities(B1 to B4) 4,873,983,32



3.Deposits and other accounts 4,078,494,40





4.Investments 1,062,603,40

5.Gross advances 3,312,965,63



8.Advances net of provision (C5-C7) 3,077,518,97





2.Markup/interest expensed 237,196,646.









E.Other items

1.No. of ordinary shares (000) 24,452,483.

2.Cash dividend N/A

3.Stock dividend/bonus shares N/A

4.Cash generated from operating activities -308812935.Commitments and contigencies 2,165,108,44


1.Spread ratio (D3/D1) 48.86%

2.Net markup/interest margin (D1-D2)/C 4.19%




6.Net markup/interest income(after prov.) to total assets(D5/C) 2.32%


8.Admin. expense to profit before tax. (D8/D9) (times) 2.38


10.Admin. expense to non-markup/interest income (D8/D6) (times) 1.5411.Earning per share (D10/E1) 1.75

G.Liquidity ratios


2.Investment to total assets (C4/C) 19.65%

3.Advances net of provisions to total assets (C8/C) 56.9%




7.Gross advances to borrowing & deposit C5/(B2+B3) 73.28%


1.Non-performing loan to gross advances (C6/C5) 9.35%

2.Provisions against NPLs to gross advances (C7/C5) 7.11%

3.NPLs to shareholders equity (C6/A) 65.8%

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4.NPLs write off to NPLs provisions (D4/C7) 42.34%





3.Break up value per share (A/E1) 19.26

4.Total deposit to total equity (B3/A) (times) 8.66J.Cash flow ratio

1.Cash generated from opration activities to profit after tax (E4/D10) -.72

29

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80/632


(Thousand Rupees)

2009 2010 2011 2012546,749,512. 574,079,220. 732,822,285. 801,196,356.

287,671,156. 314,927,769. 413,765,907. 425,604,902.

163,459,432. 180,684,886. 188,615,424. 215,282,161.

95,618,924. 78,466,565. 130,440,954. 160,309,293.

84,112,627. 89,209,049. 32,560,623. 73,968,598.

5,658,751,94 6,288,344,31 7,274,267,78 8,774,618,907

67,938,226. 69,858,475. 81,275,225. 108,655,410.

642,543,459. 534,575,425. 662,193,418. 1,008,646,671

4,636,939,78 5,357,586,22 6,154,480,61 7,253,632,928

311,330,478. 326,324,187. 376,318,520. 403,683,897.

6,289,614,08 6,951,632,58 8,039,650,68 9,649,783,860

502,499,262. 562,952,621. 664,067,126. 800,866,895.179,702,590. 176,488,166. 188,693,849. 203,531,469.

206,327,062. 178,200,677. 189,196,778. 140,525,618.

1,656,307,32 2,096,093,73 2,965,633,63 3,980,382,885

3,469,125,95 3,717,521,14 3,764,786,35 4,239,011,224

418,929,619. 553,335,344. 565,454,728. 591,096,037.

299,881,001. 366,781,129. 394,042,579. 417,495,723.

3,169,244,95 3,350,740,01 3,370,743,77 3,821,515,501

188,454,465. 201,403,429. 216,115,028. 223,417,378.

387,078,431. 385,753,941. 445,200,492. 479,544,114.

571,440,077. 610,157,558. 728,610,517. 779,055,794.

313,861,482. 332,575,929. 395,227,090. 446,233,606.

266,091,815. 277,581,629. 334,711,803. 332,822,188.

109,190,178. 75,740,441. 59,207,308. 37,855,378.

156,872,452. 205,142,052. 288,049,027. 294,966,809.

100,482,691. 100,630,451. 107,240,006. 138,829,871.

178,005,794. 198,397,770. 223,295,265. 240,623,490.

170,516,859. 191,692,767. 218,688,135. 247,400,635.

70,155,458. 111,748,712. 166,092,836. 182,312,568.

49,007,928. 70,198,522. 111,843,855. 121,664,530.

28,727,998. 31,439,491. 41,323,258. 1,890,664,116

N/A N/A N/A N/A

N/A N/A N/A N/A

577,721,142. 490,297,865. 1,008,200,05 1,151,029,8592,689,531,53 2,675,985,77 3,269,242,95 3,406,703,080

46.57% 45.49% 45.94% 42.72%

4.1% 3.99% 4.15% 3.45%

8.96% 12.23% 15.26% 15.19%

.78% 1.01% 1.39% 1.26%

1.6% 1.45% 1.33% 1.44%

2.49% 2.95% 3.58% 3.06%

54.92% 54.51% 54.24% 57.28%

2.43 1.72 1.32 1.36

26.49% 27.91% 26.71% 26.21%

1.7 1.9 2.04 1.781.71 2.23 2.71 .06

10.85% 10.64% 10.61% 10.41%

26.33% 30.15% 36.89% 41.25%

50.39% 48.2% 41.93% 39.6%

73.72% 77.07% 76.55% 75.17%

89.97% 90.46% 90.48% 90.93%

74.81% 69.39% 61.17% 58.44%

65.71% 63.09% 55.23% 51.31%

12.08% 14.88% 15.02% 13.94%

8.64% 9.87% 10.47% 9.85%

76.62% 96.39% 77.16% 73.78%

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36.41% 20.65% 15.03% 9.07%

71.58% 66.29% 69.69% 70.63%

8.69% 8.26% 9.12% 8.3%

4.92 4.66 4.46 4.25

19.03 18.26 17.73 .42

8.48 9.33 8.4 9.05

11.79 6.98 9.01 9.46

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Financial Stat

Public Sector Banks - Overall



2.Reserves 29,033,178.


4.Others 18,749,454.

B.Total liabilities(B1 to B4) 930,323,564.



3.Deposits and other accounts 819,683,051.





4.Investments 204,784,000.

5.Gross advances 629,389,241.



8.Advances net of provision (C5-C7) 560,666,167.














E.Other items

1.No. of ordinary shares (000) 1,854,436.

2.Cash dividend N/A

3.Stock dividend/bonus shares N/A

4.Cash generated from operating activities -451558855.Commitments and contigencies 294,175,142.







6.Net markup/interest income(after prov.) to total assets(D5/C) .89%





G.Liquidity ratios












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1.Cash generated from opration activities to profit after tax (E4/D10) -8.

30

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(Thousand Rupees)

2009 2010 2011 2012107,010,826. 105,265,258. 127,790,619. 136,971,590.

21,339,327. 24,030,254. 41,414,298. 44,283,634.

31,486,173. 27,923,238. 29,284,865. 33,051,513.

54,185,326. 53,311,766. 57,091,456. 59,636,443.

24,580,515. 40,149,918. 41,572,689. 56,469,348.

1,049,639,67 1,185,232,52 1,398,775,93 1,651,789,530

12,159,963. 8,970,578. 10,375,239. 17,151,226.

62,285,275. 35,045,634. 76,090,790. 151,891,929.

926,628,132. 1,087,487,52 1,248,188,26 1,414,856,825

48,566,308. 53,728,795. 64,121,639. 67,889,550.

1,181,231,01 1,330,647,70 1,568,139,23 1,845,230,468

129,608,813. 135,642,657. 153,973,974. 182,782,467.33,955,399. 36,122,514. 34,010,092. 36,706,462.

23,263,730. 33,849,174. 65,732,828. 20,184,313.

262,331,351. 380,720,883. 479,342,863. 588,083,288.

702,632,358. 718,055,264. 789,506,985. 967,793,422.

118,528,163. 168,813,094. 166,497,486. 163,435,430.

80,452,578. 93,825,342. 97,029,696. 102,918,240.

622,179,780. 624,229,922. 692,477,289. 864,875,182.

29,890,350. 32,465,159. 34,777,267. 36,342,749.

80,001,596. 87,617,395. 107,824,925. 116,256,007.

100,164,255. 112,480,667. 129,208,288. 140,932,616.

59,860,679. 67,660,293. 77,609,982. 88,827,251.

40,303,576. 44,820,374. 51,382,142. 52,105,365.

32,491,627. 13,736,092. 12,227,283. 7,498,858.

7,811,949. 31,729,814. 44,341,083. 44,606,507.

23,742,739. 20,153,147. 22,933,945. 29,593,719.

28,073,776. 32,695,068. 34,248,745. 32,192,707.

26,787,981. 31,644,453. 37,487,659. 44,823,212.

3,480,912. 31,592,317. 29,426,910. 28,522,167.

6,672,253. 22,372,156. 19,900,186. 19,839,142.

2,133,932. 2,403,025. 4,141,429. 1,852,589,678

N/A N/A N/A N/A

N/A N/A N/A N/A

974,839. 126,587,260. 107,777,017. 132,675,084.290,828,179. 453,490,628. 598,692,114. 669,675,039.

40.24% 39.85% 39.77% 36.97%

3.41% 3.37% 3.29% 2.82%

6.24% 21.25% 15.57% 14.48%

.56% 1.68% 1.27% 1.08%

2.01% 1.51% 1.46% 1.6%

.66% 2.38% 2.83% 2.42%

59.76% 60.15% 60.07% 63.03%

7.7 1. 1.27 1.57

22.66% 24.65% 22.51% 18.88%

1.13 1.57 1.63 1.513.13 9.31 4.81 .01

13.85% 12.91% 11.99% 11.89%

22.21% 28.61% 30.57% 31.87%

52.67% 46.91% 44.16% 46.87%

78.45% 81.73% 79.6% 76.68%

88.86% 89.07% 89.2% 89.52%

75.83% 66.03% 63.25% 68.4%

71.05% 63.97% 59.62% 61.77%

16.87% 23.51% 21.09% 16.89%

11.45% 13.07% 12.29% 10.63%

110.76% 160.37% 130.29% 119.32%

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40.39% 14.64% 12.6% 7.29%

67.88% 55.58% 58.28% 62.97%

9.06% 7.91% 8.15% 7.42%

2.72 4.31 4.68 4.89

50.15 43.81 30.86 .07

8.66 10.33 9.77 10.33

.15 5.66 5.42 6.69

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Financial Stat

FIRST WOMEN BANK LIMITED


1.Share capital 283,650.

2.Reserves 228,540.

3.Un appropriated profit 623,610.

4.Others -32767


1.Bills payable 101,993.

2.Borrowings from financial institutions 27,140.


4.Other/misc. liabilities 132,247.

C.Total assets (C1 to C4 + C8 to C10) 7,303,721.

1.Cash and balances with treasury banks 575,929.2.Balances with other banks 400,761.

3.Lending to financial institutions 350,849.



6.Advances-non-performing/classified 105,512.

7.Provision against advances 105,512.


9.Fixed assets 174,833.

10.Other/misc. assets 232,931.


1.Markup/interest earned 736,103.

2.Markup/interest expensed 212,601.

3.Net markup/interest income 523,502.

4.Provisions and write-offs 50,153.

5.Net markup/interest income after provisions 473,349.

6.Non-markup/interest income 90,343.

7.Non-markup/interest expenses 373,249.

8.Administrative expenses 367,798.

9.Profit/(loss) before taxation 190,443.

10.Profit/(loss) after taxation 106,020.

E.Other items

1.No. of ordinary shares (000) 28,365.

2.Cash dividend 0.0

3.Stock dividend/bonus shares 0.0

4.Cash generated from operating activities -9303035.Commitments and contigencies 202,048.





4.Return on assets (ROA) (D10/C) 1.45%







G.Liquidity ratios


2.Investment to total assets (C4/C) 31.%










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5.Provision against NPL to NPLs (C7/C6) 100.%



2.Commitments & contingencies to total equity (E5/A) (times) .18



1.Cash generated from opration activities to profit after tax (E4/D10) -8.77

31

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(Thousand Rupees)

2009 2010 2011 20121,058,318. 1,084,517. 1,645,428. 1,991,641.

283,650. 283,650. 1,080,038. 1,494,113.

228,540. 233,282. 284,991. 293,863.

546,128. 567,585. 280,399. 203,665.

35,049. 21,504. 74,136. 85,599.

9,164,693. 11,597,139. 14,408,971. 20,413,560.

89,020. 102,182. 96,417. 548,727.

31,328. 966,885. 51,100. 73,340.

8,756,793. 10,195,214. 13,814,854. 19,193,344.

287,552. 332,858. 446,600. 598,149.

10,258,060. 12,703,160. 16,128,535. 22,490,800.

713,140. 836,311. 973,701. 1,188,234.586,849. 600,228. 561,555. 636,034.

1,136,025. 926,323. 1,605,946. 4,219,779.

4,097,423. 3,430,251. 4,730,434. 7,263,885.

3,481,854. 6,535,694. 7,901,127. 8,573,327.

207,633. 430,232. 523,443. 612,714.

207,633. 227,554. 200,064. 238,684.

3,274,221. 6,308,140. 7,701,063. 8,334,643.

203,972. 188,248. 229,344. 239,084.

246,430. 413,659. 326,492. 609,141.

896,476. 1,374,548. 1,918,759. 1,798,231.

408,000. 763,841. 1,176,451. 1,037,893.

488,476. 610,707. 742,308. 760,338.

179,549. 76,899. 5,475. 50,508.

308,927. 533,808. 747,783. 709,830.

66,879. 57,141. 253,719. 95,581.

462,060. 536,272. 601,399. 716,920.

451,930. 533,679. 600,986. 716,657.

-86254 54,677. 400,103. 88,491.

-80101 23,711. 258,547. 43,556.

28,365. 28,365. 108,004. 149,411.

0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0

2,108,232. -521807 1,070,465. 2,531,961.226,087. 201,272. 297,230. 807,143.

54.49% 44.43% 38.69% 42.28%

4.76% 4.81% 4.6% 3.38%

-7.57% 2.19% 15.71% 2.19%

-.78% .19% 1.6% .19%

.65% .45% 1.57% .42%

3.01% 4.2% 4.64% 3.16%

45.51% 55.57% 61.31% 57.72%

-5.24 9.76 1.5 8.1

47.96% 37.46% 27.68% 37.86%

6.76 9.34 2.37 7.5-2.82 .84 2.39 .29

12.67% 11.31% 9.52% 8.11%

39.94% 27.% 29.33% 32.3%

31.92% 49.66% 47.75% 37.06%

85.37% 80.26% 85.65% 85.34%

89.34% 91.29% 89.34% 90.76%

39.76% 64.11% 57.19% 44.67%

39.62% 58.55% 56.98% 44.5%

5.96% 6.58% 6.62% 7.15%

5.96% 3.48% 2.53% 2.78%

19.62% 39.67% 31.81% 30.76%

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86.47% 33.79% 2.74% 21.16%

100.% 52.89% 38.22% 38.96%

10.32% 8.54% 10.2% 8.86%

.21 .19 .18 .41

37.31 38.23 15.23 13.33

8.27 9.4 8.4 9.64

-26.32 -22.01 4.14 58.13

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Financial Stat

NATIONAL BANK OF PAKISTAN



2.Reserves 19,941,047.


4.Others 21,092,216.






C.Total assets (C1 to C4 + C8 to C10) 817,758,326.





















E.Other items

1.No. of ordinary shares (000) 896,975.

2.Cash dividend 65.%

3.Stock dividend/bonus shares 20.%

4.Cash generated from operating activities 2,532,681.5.Commitments and contigencies 241,861,468.




3.Return on equity (ROE) (D10/A) 19.%

4.Return on assets (ROA) (D10/C) 1.89%




8.Admin. expense to profit before tax. (D8/D9) (times) .79



G.Liquidity ratios












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1.Cash generated from opration activities to profit after tax (E4/D10) .16

32

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(Thousand Rupees)

2009 2010 2011 201295,855,355. 105,687,665. 112,671,683. 119,434,799.

10,763,702. 13,454,629. 16,818,285. 18,500,114.

23,395,059. 25,129,425. 26,212,505. 30,305,210.

61,696,594. 67,103,611. 69,640,893. 70,629,475.

24,937,197. 25,611,167. 23,282,533. 36,743,263.

825,460,717. 906,719,635. 1,019,012,20 1,159,982,395

10,621,169. 8,006,631. 9,104,710. 14,367,639.

44,828,138. 19,657,207. 27,671,745. 51,112,248.

727,513,013. 832,134,054. 927,410,553. 1,038,094,985

42,498,397. 46,921,743. 54,825,198. 56,407,523.

946,253,269. 1,038,018,46 1,154,966,42 1,316,160,457

116,668,514. 115,657,025. 131,843,344. 158,756,638.28,786,397. 30,743,368. 28,070,350. 30,895,173.

19,683,526. 23,051,171. 43,973,531. 8,280,997.

217,596,037. 301,078,498. 319,353,392. 342,964,635.

531,103,507. 540,130,378. 595,630,955. 734,349,374.

71,174,034. 86,871,353. 88,391,640. 89,159,413.

55,765,068. 61,243,623. 67,509,359. 73,349,374.

475,338,439. 478,886,755. 528,121,596. 661,000,000.

25,200,870. 27,620,697. 29,064,564. 29,714,221.

62,979,486. 60,980,953. 74,539,645. 84,548,793.

78,124,796. 88,681,381. 95,956,361. 101,125,889.

40,448,291. 45,169,744. 48,566,973. 56,552,485.

37,676,505. 43,511,637. 47,173,224. 44,573,404.

11,820,292. 10,009,482. 9,358,165. 8,019,096.

25,856,213. 33,502,155. 37,815,059. 36,554,308.

19,109,332. 18,150,883. 19,738,325. 24,804,561.

23,766,703. 27,030,751. 28,131,683. 24,063,424.

22,816,665. 26,732,045. 30,945,203. 36,733,708.

21,198,842. 24,622,287. 26,131,683. 24,063,424.

17,449,042. 17,738,405. 17,724,846. 16,887,057.

1,076,370. 1,345,463. 1,681,828. 1,850,011,327

75.% 75.% 75.% 70.%

25.% 25.% 10.% 15.%

40,806,019. 92,320,340. 41,816,805. 60,861,739.236,732,608. 405,881,788. 520,889,243. 520,100,721.

48.23% 49.07% 49.16% 44.08%

3.98% 4.19% 4.1% 3.39%

18.2% 16.78% 15.73% 14.14%

1.84% 1.71% 1.53% 1.28%

2.02% 1.75% 1.71% 1.88%

2.73% 3.23% 3.27% 2.78%

51.77% 50.93% 50.61% 55.92%

1.08 1.09 1.18 1.53

24.44% 25.3% 24.32% 19.11%

1.19 1.47 1.57 1.4816.21 13.18 10.54 .01

15.37% 14.1% 13.85% 14.41%

23.% 29.01% 27.65% 26.06%

50.23% 46.13% 45.73% 50.22%

76.88% 80.17% 80.3% 78.87%

87.23% 87.35% 88.23% 88.13%

73.% 64.91% 64.23% 70.74%

68.77% 63.41% 62.36% 67.42%

13.4% 16.08% 14.84% 12.14%

10.5% 11.34% 11.33% 9.99%

74.25% 82.2% 78.45% 74.65%

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21.2% 16.34% 13.86% 10.93%

78.35% 70.5% 76.38% 82.27%

10.13% 10.18% 9.76% 9.07%

2.47 3.84 4.62 4.35

89.05 78.55 66.99 .06

7.59 7.87 8.23 8.69

2.34 5.2 2.36 3.6

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Financial Stat

SINDH BANK LTD.

ItemsA.Total equity (A1 to A3)

1.Share capital

2.Reserves

3.Un appropriated profit

4.Others

B.Total liabilities(B1 to B4)

1.Bills payable

2.Borrowings from financial institutions

3.Deposits and other accounts

4.Other/misc. liabilities

C.Total assets (C1 to C4 + C8 to C10)

1.Cash and balances with treasury banks2.Balances with other banks

3.Lending to financial institutions

4.Investments

5.Gross advances

6.Advances-non-performing/classified

7.Provision against advances

8.Advances net of provision (C5-C7)

9.Fixed assets

10.Other/misc. assets


1.Markup/interest earned

2.Markup/interest expensed

3.Net markup/interest income

4.Provisions and write-offs

5.Net markup/interest income after provisions

6.Non-markup/interest income

7.Non-markup/interest expenses

8.Administrative expenses

9.Profit/(loss) before taxation

10.Profit/(loss) after taxation

E.Other items

1.No. of ordinary shares (000)

2.Cash dividend

3.Stock dividend/bonus shares

4.Cash generated from operating activities5.Commitments and contigencies


1.Spread ratio (D3/D1)

2.Net markup/interest margin (D1-D2)/C

3.Return on equity (ROE) (D10/A)

4.Return on assets (ROA) (D10/C)

5.Non-markup/interest income to total assets (D6/C)

6.Net markup/interest income(after prov.) to total assets(D5/C)

7.Markup/interest expense to markup/interest income (D2/D1)

8.Admin. expense to profit before tax. (D8/D9) (times)

9.Non-markup/interest expense to total income D7/(D1+D6)

10.Admin. expense to non-markup/interest income (D8/D6) (times)11.Earning per share (D10/E1)

G.Liquidity ratios

1.Cash & cash equivalent to total assets (C1+C2)/C

2.Investment to total assets (C4/C)

3.Advances net of provisions to total assets (C8/C)

4.Deposits to total assets (B3/C)

5.Total liabilities to total assets (B/C)

6.Gross advances to deposits (C5/B3)

7.Gross advances to borrowing & deposit C5/(B2+B3)


1.Non-performing loan to gross advances (C6/C5)

2.Provisions against NPLs to gross advances (C7/C5)

3.NPLs to shareholders equity (C6/A)

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4.NPLs write off to NPLs provisions (D4/C7)

5.Provision against NPL to NPLs (C7/C6)


1.Capital ratio (A/C)

2.Commitments & contingencies to total equity (E5/A) (times)

3.Break up value per share (A/E1)

4.Total deposit to total equity (B3/A) (times)J.Cash flow ratio

1.Cash generated from opration activities to profit after tax (E4/D10) (times)

33

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(Thousand Rupees)

2010 2011 2012- 10,749,561. 11,037,333.

- 10,000,000. 10,000,000.

- 149,912. 327,466.

- 599,649. 709,867.

- -86548 50,855.

- 37,067,110. 81,202,911.

- 42,251. 176,125.

- 13,012,647. 48,602,402.

- 23,517,740. 31,469,652.

- 494,472. 954,732.

- 47,730,123. 92,291,099.

- 1,655,815. 2,430,525.- 243,519. 424,573.

- 10,905,410. 4,619,591.

- 26,081,535. 62,631,024.

- 7,259,330. 19,281,888.

- 0.0 0.0

- 0.0 0.0

- 7,259,330. 19,281,888.

- 584,054. 1,556,804.

- 1,000,460. 1,346,694.

- 3,704,280. 6,141,198.

- 2,241,345. 4,102,783.

- 1,462,935. 2,038,415.

- 31,382. 1,069.

- 1,431,553. 2,037,346.

- 222,183. 526,717.

- 513,773. 1,277,636.

- 513,773. 1,277,607.

- 1,139,963. 1,286,427.

- 749,561. 88,772.

- 1,000,000. 1,000,000.

- 0.0 6.%

- 0.0 0.0

- 18,654,331. 38,872,837.- 25,311,295. 65,855,409.

- 39.49% 33.19%

- 3.07% 2.21%

- 6.97% .8%

- 1.57% .1%

- .47% .57%

- 3.% 2.21%

- 60.51% 66.81%

- .45 .99

- 13.08% 19.16%

- 2.31 2.43- .75 .09

- 3.98% 3.09%

- 54.64% 67.86%

- 15.21% 20.89%

- 49.27% 34.1%

- 77.66% 87.99%

- 30.87% 61.27%

- 19.87% 24.08%

- 0.0 0.0

- 0.0 0.0

- 0.0 0.0

7/29/2019 FSA-2008-12 zxddsdfs

97/632

- - -

- - -

- 22.52% 1

fsa-2008-12 zxddsdfs

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