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KARACHI: The State Bank of Pakistan (SBP) reported on Tuesday that its consolidated net profit for 2011-12 fiscal year (FY12) rose by 44 percent to Rs261 billion as compared to the profit of Rs181 billion in the preceding year, according to the annual consolidated financial results of the central bank for period ended June 30.
The income including discount, interest, markup or return stood at Rs224.9 billion after reducing the expenses on the interest and markup of Rs11.3 billion during the year. The income of the central bank stood at Rs202.3 billion a year ago. The income from exchange gains surged to Rs42.82 billion during FY12 from Rs1.92 billion in the previous fiscal year, it said. However, dividend income saw an increase of Rs15.69 billion from Rs11.92 billion.
The administrative and other expenses stood at Rs20.15 billion from the preceding fiscal years Rs15.66 billion. The direct operating expenses of the central bank stood at Rs1.72 billion against Rs760 million.
This includes agency commission at Rs5.95 billion, while Rs5.68 billion were spent on bank notes printing in FY12. A total of Rs4.57 was accounted for currency printing charges during the course of fiscal year 2010-11, according to the SBP.
The net assets of the central bank stood at Rs511.5 billion in FY12 against Rs472 billion during FY11.
Accordingly, total assets were reported at Rs3,785 billion as compared to Rs3,618 billion in the preceding year, while total liabilities were at Rs3,273 billion from Rs3,146 billion last year.
Experts said that the State Bank transferred Rs261 billion to the governments account during FY12. The raise in the profitability of the central bank is mainly attributed to high dividend income.
SBP
The income including discount, interest, markup or return stood at Rs224.9 billion after reducing the expenses on the interest and markup of Rs11.3 billion during the year. The income of the central bank stood at Rs202.3 billion a year ago. The income from exchange gains surged to Rs42.82 billion during FY12 from Rs1.92 billion in the previous fiscal year, it said. However, dividend income saw an increase of Rs15.69 billion from Rs11.92 billion.
The administrative and other expenses stood at Rs20.15 billion from the preceding fiscal years Rs15.66 billion. The direct operating expenses of the central bank stood at Rs1.72 billion against Rs760 million.
This includes agency commission at Rs5.95 billion, while Rs5.68 billion were spent on bank notes printing in FY12. A total of Rs4.57 was accounted for currency printing charges during the course of fiscal year 2010-11, according to the SBP.
The net assets of the central bank stood at Rs511.5 billion in FY12 against Rs472 billion during FY11.
Accordingly, total assets were reported at Rs3,785 billion as compared to Rs3,618 billion in the preceding year, while total liabilities were at Rs3,273 billion from Rs3,146 billion last year.
Experts said that the State Bank transferred Rs261 billion to the governments account during FY12. The raise in the profitability of the central bank is mainly attributed to high dividend income.
SBP
