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  • Financial Highlights: Year Ended December 31, 2020

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    Muhammad Nadeem
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    1) Askari Bank Limited is a Pakistani bank established in 1992 with over 7,900 employees and 537 branches across Pakistan. 2) For the year ended December 2020, the bank saw profits increase 54% to Rs. 10.8 billion with earnings per share of Rs. 8.57, as deposits grew 16% to Rs. 791.2 billion while advances increased 6% to Rs. 395.4 billion. 3) Key metrics show improving performance with the cost to income ratio dropping to 50.6% and return on equity rising to 25.5%, while non-performing loans declined to 6.7% of advances and provision coverage remained strong at 93.1%.

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    1) Askari Bank Limited is a Pakistani bank established in 1992 with over 7,900 employees and 537 branches across Pakistan. 2) For the year ended December 2020, the bank saw profits increase 54% to Rs. 10.8 billion with earnings per share of Rs. 8.57, as deposits grew 16% to Rs. 791.2 billion while advances increased 6% to Rs. 395.4 billion. 3) Key metrics show improving performance with the cost to income ratio dropping to 50.6% and return on equity rising to 25.5%, while non-performing loans declined to 6.7% of advances and provision coverage remained strong at 93.1%.

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    24 views8 pages

    Financial Highlights: Year Ended December 31, 2020

    Uploaded by

    Muhammad Nadeem
    1) Askari Bank Limited is a Pakistani bank established in 1992 with over 7,900 employees and 537 branches across Pakistan. 2) For the year ended December 2020, the bank saw profits increase 54% to Rs. 10.8 billion with earnings per share of Rs. 8.57, as deposits grew 16% to Rs. 791.2 billion while advances increased 6% to Rs. 395.4 billion. 3) Key metrics show improving performance with the cost to income ratio dropping to 50.6% and return on equity rising to 25.5%, while non-performing loans declined to 6.7% of advances and provision coverage remained strong at 93.1%.

    Copyright:

    © All Rights Reserved
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    of 8

    Financial Highlights

    Year ended December 31, 2020


    Askari Bank Limited – basic info

    Commencement of operations April 1992


    Sponsors Fauji Foundation Group (71.91%)
    Entity Rating AA+(by PACRA)
    Market capitalization - Rupees in billion 29
    Market share of deposits (September 2020) 4.36%
    Branches / sub branches - in Pakistan 537 (including 95 islamic branches)
    International presence Wholesale branch in Bahrain
    Rep.office in Beijing,China
    Employees 7,949
    Head office / Registered office Islamabad / Rawalpindi

    Askari Bank Limited – Financial Highlights 1


    Balance Sheet – as of December 31, 2020 (Rupees in million)

    YE '19 YE '20 Change


    ASSETS
    Cash, bank bal. & lendings 91,332 81,371 -11%
    Investments - net 305,436 449,687 47%
    Advances - net 372,914 395,374 6%
    Fixed & other assets 63,527 66,085 4%
    Total Assets 833,208 992,517 19%

    LIABILITIES
    Borrowings 51,188 84,164 64%
    Deposits & other accounts 679,299 791,187 16%
    Subordinated debts 9,992 12,000 20%
    Other liabilities 50,473 50,620 0%
    Total Liabilities 790,952 937,971 19%

    EQUITY
    Share capital 12,603 12,603 0%
    Reserves & un-app. profit 25,353 34,306 35%
    Surplus on reval. of assets 4,300 7,637 78%
    Total Equity 42,256 54,546 29%

    Book value per share - Rupees 33.5 43.3 29%

    Askari Bank Limited – Financial Highlights 2


    Profit & Loss – Year ended December 31, 2020 (Rupees in million)

    Profit & Loss FY '19 FY '20 YoY


    Mark-up earned 71,704 77,322 8%
    Mark-up expensed 49,569 47,059 -5%
    Net Interest Income (NII) 22,136 30,263 37%
    Non Fund Income (NFI) 7,404 9,694 31%
    Total income 29,540 39,957 35%
    Admn & other expenses 18,377 20,215 10%
    Profit before provision and tax 11,163 19,742 77%
    Provisions 773 1,975 155%
    Profit before tax 10,390 17,767 71%
    Taxation 3,372 6,967 107%
    Profit after taxation 7,017 10,800 54%
    Earnings Per Share - Rupees 5.57 8.57 54%

    Askari Bank Limited – Financial Highlights 3


    Key Ratios – as of December 31, 2020
    Askari Bank
    Earnings YE '19 YE '20
    Return on core equity 20.1% 25.5%
    Return on assets - annualized 0.9% 1.2%
    Performance
    Cost to income ratio 62.2% 50.6%
    Advances to deposits 54.9% 50.0%
    Investments to deposits 45.0% 56.8%
    Non-remunerative to total deposits 28.7% 31.8%
    Asset Quality
    NPLs to gross advances 7.1% 6.7%
    Provision coverage 91.1% 93.1%
    Net NPLs to net advances 0.7% 0.5%
    Capital
    Capital Adequacy Ratio 13.4% 15.5%
    Leverage Ratio 3.5% 3.6%
    Market
    Price earning (PE) - times 3.3 2.7
    Price to book value - times 0.6 0.5

    Askari Bank Limited – Financial Highlights 4


    Deposits – as of December 31, 2020
    Rupees in million YE. '19 YE. '20 Change
    DEPOSITS
    Current 194,843 251,457 29.1%
    Savings 362,439 437,432 20.7%
    Term 122,017 102,298 -16.2%
    Total Deposits 679,299 791,187 16.5%

    Total deposits CASA


    Term

    791
    13% Current
    679

    32%
    574
    526

    689
    473

    557

    Savings
    486
    443
    386

    55%

    YE.`16 YE.`17 YE.`18 YE.`19 YE.`20

    Askari Bank Limited – Financial Highlights 5


    Advances & Assets’ Quality – as of December 31, 2020
    450 10.9% 12.0%
    ADVANCES CONCENTRATION
    400 9.4%
    10.0%
    350 Public / Government
    300 7.2% 7.1% 8.0%
    6.6% Individuals
    250
    6.0% Services/ Others
    200
    150 4.0% Textile & Leather Products
    100 Power
    284
    262

    369

    399

    422
    2.0%
    50 Rice, Sugar & Agri
    - 0.0%
    Chemical and Pharmaceuticals
    YE.`16 YE.`17 YE.`18 YE.`19 YE.`20
    Cement, Construction & Mining
    Gross Advances NPLs Ratio

    3%5%
    7%
    40.0 94.5% 95.9% 98.1% 100.0% 31%
    93.0% 95.0%
    7%
    91.1%
    30.0
    90.0%
    20.0 85.0% 12%
    80.0%
    10.0 8%
    27.0

    25.6
    28.5

    26.8
    25.6

    26.7
    26.2

    28.1

    28.4
    26.4

    75.0%
    - 70.0%
    YE.`16 YE.`17 YE.`18 YE.`19 YE.`20 27%
    NPLs Provision Held Coverage

    Askari Bank Limited – Financial Highlights 6


    Investments – as of December 31, 2020

    Rupees in million YE. '20 YE. '19 Change


    INVESTMENTS GoP Securities
    Other debt Instruments
    Market Treasury Bills 122,066 129,094 -5.4%
    Shares
    Pakistan Investment Bonds 282,938 138,589 104.2% Foreign
    TFCs / Sukuks 24,574 20,963 17.2% 1%
    Shares / Units 6,295 7,423 -15.2% 7% 1%
    Euro bonds 6,748 6,629 1.8%
    GOP Bai Mujjal 5,246 5,246 0.0%
    Foreign securities 3,859 3,407 13.3%
    Investments at cost 451,726 311,352 45.1%
    91%

    Askari Bank Limited – Financial Highlights 7

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