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Financial Statement Analysis of Financial Sector

2012

FINANCIAL STATEMENT ANALYSIS OF


FINANCIAL SECTOR
2008-2012

CY06

CY07

Growth

Bil ion Rs.


Share Capital (SC)

9.5

Reserves (RS)

5.4

12 26.30%
15 177.80%

Un Appropriated Profit (RE)

15.6

40.7 160.90%

Others (MISC)

0.8

0.4 -50.00%

Total Shareholders Equity (SE)

31.3

68.1 117.60%

i
STATISTICS
AND DWH DEPARTMENT
STATE BANK PAKISTAN

Financial Statement Analysis of Financial Sector

2012

Vision and Mission Statements of State Bank of Pakistan

Vision
To Transform SBP into a modern and dynamic central bank, highly
professional and efficient, fully equipped to play a meaningful role, on
sustainable basis, in the economic and social development of Pakistan.

Mission
To promote monetary and financial stability and foster a sound and
dynamic financial system, so as to achieve sustained and equitable
economic growth and prosperity in Pakistan.

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Financial Statement Analysis of Financial Sector

2012

Team Leader

Shamsul Arifeen

Sr. Joint Director


shamsul.arifeen@sbp.org.pk

Team Members

Zia-ul-Qamar

Joint Director
ziaulqamar@sbp.org.pk

Azam Ali

Joint Director
Azam.Ali@sbp.org.pk

Shahid Latif

Joint Director
shahid.latif@sbp.org.pk

Muhammad Saeed

Assistant Director
Muhammad.Saeed2@sbp.org.pk

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Financial Statement Analysis of Financial Sector

2012

CONTENTS
Preface

Executive Summary

vi

Introduction

1.1 Methodology
1.2 Concepts and Definitions
1.3 Performance Indicators

2
3
14

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

25
72
83
97
107
125
154
181
239
242

Appendix
Explanatory Notes

245
250

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Financial Statement Analysis of Financial Sector

2012

Preface
The financial sector, one of the most important components of the countrys economy having a share of
around 5% in the Gross Domestic Product essentially requires a sound, stable and robust financial system for
economic well being of the country and its populace.
Pakistans financial sector represents a well-developed integration of institutions of a diversified
nature including Banks, DFIs, Investment Banks, Leasing Companies, Modaraba Companies, Housing
Finance, Mutual Funds, Insurance Companies, Exchange Companies and Venture Capital. Disclosure
and transparency in information on business activities of financial institutions are therefore of immense
importance to all stakeholders.
An overview of business and financial conditions of financial institutions is presented in a structured
manner in form of financial statements. For large financial institutions, the financial statements are
often complex and are prepared under international accounting standards. These statements usually
include an extensive set of notes to the financial statements. The notes typically describe each item on
the balance sheet, income statement and cash flow statement in further detail.
The stakeholders and users, on the other hand, require financial indicators that can provide information
on how well the company is performing and what may happen in future. In order to meet the growing
needs of the users, Statistics & Data Warehouse Department carries out analysis of the financial statements of
all financial institutions on annual basis. Every endeavour is made to select useful and accurate data from
financial statements and compute ratios that can provide valuable clues about the financial health of
these institutions. The analysis is published in form of this publication namely Financial Statements
Analysis of Financial Sector. The publication covers analysis of financial statements of financial institutions
for the period 2008-12.
It is hoped that the publication will provide a tool to researchers, policy makers and investors to understand
the activities and performance of financial sector in Pakistan. Comments on the analysis and suggestions for
further improvements of the publication are very welcome.

(Dr Azizullah Khattak)


Director
Statistics & DWH Department

Financial Statement Analysis of Financial Sector

2012

Executive Summary
Financial statements analysis of 180 companies from 10 sectors namely Banks, DFIs, Leasing
companies, Investment Banks, Mutual Funds, Modarabas, Exchange companies, Insurance companies,
Housing Finance and venture capital are included in this publication for the period 2008-12.
The balance sheet size of the banking sector expanded in CY12 and total assets of the sector grew
from Rs. 8.3 trillion in CY11 to Rs. 9.9 trillion in CY12 showing an increase of 19.3 percent. Profit
before taxation increased by 6.7 percent in CY12 over the previous year.
The balance sheet size of DFIs increased during 2012. Shareholders equity registered a reduction of
0.9 percent over the last year. The profit before taxation decreased by 25.8 percent and profit after
taxation by 34.0 percent during the year.
Outlook of leasing sector in the country has not been encouraging during FY12. Asset base decreased
by 0.3 percent from Rs 33.8 billion in FY11 to Rs 33.7 billion in FY12. The sector showed profit
before taxation of Rs. 27.0 million in FY12 as compared to Rs. 407.2 million in FY11.
The performance of investment banks has deteriorated over the year. Analysis revealed that their
balance sheet size squeezed by 35.8 percent in FY12 over FY11. The aggregate share capital remained
same. Losses before and after tax have been Rs. 2.3 billion and Rs. 2.0 billion respectively in FY12.
Gross revenue also witnessed a decrease of 34.3 percent during FY12.
Balance sheet size of Mutual Funds contracted by 6.1 percent in FY12 over FY11. Total assets
decreased from Rs. 25.9 billion in FY11 to Rs. 24.3 billion in FY12. Net income was Rs. 2.6 billion in
FY12 as compared to Rs. 4.3 billion for FY11.
Modaraba Companies performed well during FY12. Total assets increased from Rs. 26.4 billion in
FY11 to Rs 29.5 billion in FY12 showing an increase of 12.1 percent. Total equity witnessed an
increase of 4.0 percent in FY12 over FY11. Profit before and after taxation increased by 16.3 percent
& 16.2 percent respectively in FY12 over FY11.

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Financial Statement Analysis of Financial Sector

2012

Exchange Companies exhibited an expansion in their balance sheet size during the period under
review. Total assets increased by 6.1 percent to stand at Rs 8.0 billion in CY12 as compared to Rs 7.6
billion in CY11.Increases in profit before and after taxation of 63.9 percent and 61.0 percent
respectively was recorded in CY12 over CY11.
CY12 turned out to be positive for insurance sector in Pakistan. The aggregate insurance business
grew sharply during CY12. Its balance sheet size expanded by 18.8 percent and reached Rs 597.8
billion in CY12. Profit before and after taxation increased considerably during CY12

In the housing finance sector, there has been one company available, i.e., House Building Finance
Company Ltd. (HBFCL). Total assets witnessed an increase of around 3 percent to stand at Rs 20.1
billion in CY12 as compared to Rs. 19.6 billion in CY11. HBFCL showed a loss before taxation of
Rs.172.1 million.

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Financial Statement Analysis of Financial Sector

2012

Introduction
Statistics and Data Warehouse Department strives hard to disseminate quality statistics. It not only
produces primary data but also provides secondary data with analysis to the various stakeholders
including researchers and policy makers. As the performance of financial sector reflects the financial
health of an economy, standard analytical tools are used to gauge the performance of this vital sector.
The analysis1 includes the following sectors2:

Banks
DFIs
Investment Banks
Leasing Companies
Modaraba Companies
Insurance Companies

Exchange Companies
Mutual Funds (close ended)
Housing Finance
Venture Capital

Consolidation is provided at the beginning of each sectors analysis. For banks, consolidation is at
different levels. At first level, overall consolidation of all banks including foreign banks is given. The
information and ratios relating to number of ordinary shares, dividend earning per share and breakup
value per share are not taken into consideration because foreign banks do not have such type of
information. The level of consolidation for banks is as follows:

All Banks (overall)

Local Banks

Public Sector Banks

Private Sector Banks

Specialized Banks

Foreign Banks

Similarly, consolidated analysis of insurance companies is also provided to reflect financial health of
Insurance Sector. The level of consolidation is as follows:

Insurance Companies (overall)

Since each sector has peculiar business activities, therefore, for analysis separate set of variables was taken into consideration. Similarly, an
associated set of financial ratios has also been selected for each sector.
2
Sector-wise list of analyzed financial institutions is provided in appendix at the end of the text.

Financial Statement Analysis of Financial Sector

Life Insurance

Non-Life Insurance

Takaful

2012

1.1 Methodology
Methodology used for analysis is ratio analysis because it is a powerful tool to analyze financial
statements of any company. Ratio analysis measures inter-relationship between various items of the
financial statements. Ratios are taken as guide lines for these are useful in evaluating a companys
financial position and operation and making comparison with results in previous years or with others
in the same industry. The primary objective of ratio analysis is to point out areas requiring further
investigation. Ratios are calculated from the following financial statements and relevant notes to
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 capital plus reserve & surplus plus unappropriated profit/loss while the revaluation, intangible assets etc. are clubbed together in others of
total equity section. For foreign banks, the ordinary share capital is replaced by head office capital
account. Since the financial sector comprises variety of financial institutions having peculiar business
activities, therefore, variables used for analysis would be different for each sector.

Financial Statement Analysis of Financial Sector

2012

1.2 Concepts and Definitions


Banks and Development Finance Institutions (DFIs)
Following variables are used for analysis of banks & DFIs:

Shareholders Equity
The sum of following items except others is considered for analysis:
Ordinary Share Capital or Head Office Account (in case of foreign bank)
Reserves
Un-appropriated Profit/Loss
Others

Liabilities

Bills Payables, borrowings and deposits being the major items contributing towards
liabilities of banks and DFIs are taken for analysis, the remaining heads of liabilities are
pooled under others:

Bills Payables

Borrowing from Financial Institutions

Deposits and Other Accounts

Others

Assets
The following items are included in the analysis. The relevant information is taken from
balance sheet as well as respective notes to accounts.

Cash and Balances with Treasury Banks


Balances with Other Banks
Lending to Financial Institutions
Investment
Gross Advances

Advances Non-Performing/Classified
Provision Against Advances
Advances Net of Provision
Fixed Assets
Others

Profit and Loss Account


The following items are included for analysis. The relevant figures are obtained from profit
and loss accounts and notes to financial statements.

Interest Earned
Interest Expensed

Non-Interest Income
Non-Interest Expense

Financial Statement Analysis of Financial Sector

2012

Net Interest Income

Administrative Expenses

Provision and Write-offs


Net Interest Income after Provision

Profit/Loss before Tax


Profit/Loss after Tax

Other Items

No. of Ordinary Shares


Outstanding shares at end of the period as shown in balance sheet.

Cash Dividend
The amount of cash dividend is taken as the percentage declared during the
period.

Stock Dividend/Bonus Shares


The number of bonus shares declared is also taken as percentage amount
distributed during the period.

Cash Generated from Operating Activities


The amount is taken from cash flow statement

Commitment and Contingencies


This is an off balance sheet item. The detail is given in notes to accounts and
the sum of all kinds of commitments and contingencies is taken for analysis.

Leasing Companies
Following variables are involved in the analysis of leasing companies:

Shareholders Equity
Shareholders equity includes share capital, reserves and un-appropriated profit/loss. Any
other item(s) mentioned in the balance sheet under shareholders equity is pooled under the
head others.

Liabilities
Borrowings from financial institutions and deposits with financial institutions are the major
items contributing towards liabilities of leasing companies. For analysis, these two items are
taken separately while the remaining items of liabilities are pooled under others

Financial Statement Analysis of Financial Sector

2012

Assets
Assets are classified into current and non-current. Major items of non-current assets are
mentioned below where remaining items of non-current assets are pooled under others

Non-Current Assets

Term Deposit Certificates

Net Finance-Investment

Advances Net

Fixed Assets

Others

Current Assets
Three main items are taken for analysis while the rest are pooled under others

Cash and Balances with Central Bank

Balances with Other Banks

Placement with Other Banks

Others

Profit and Loss Account


The amounts reported under the following heads are extracted from profit and loss accounts
along with relevant notes to accounts:

Income from Operating Lease

Administrative Expenses

Income from Investment

Profit/Loss before Tax

Income from Finances

Profit/Loss after Tax

Other Income

Other Items

No. of Ordinary Shares


The number of shares outstanding as on balance sheet date

Cash Dividend
The amount of cash dividend is taken as percentage of the dividend declared during
the period.

Financial Statement Analysis of Financial Sector

2012

Stock Dividend
The number of bonus shares declared is also taken as percentage amount during the
period.

Cash Generated from Operating Activities


The amount is taken from the cash flow statement.

Investment Banks
Following variables are used in the analysis of investment banks:

Shareholders Equity
The composition and explanation of shareholders equity is same as explained earlier.

Liabilities
The amount of current and non-current liabilities is taken from the balance sheet and the
sum of these two is the same as total liabilities of the company.

Assets
Current assets are classified into cash and bank balances and others while non-current
assets are divided into three heads i.e., long term investment, fixed assets, and others.

Current Assets

Non-Current Assets

Cash and Banks Balances

Long Term Investment

Others

Fixed Assets

Others

Profit and Loss Account


The following items are taken for analysis. The relevant figures are taken from profit
and loss account and notes to financial statements.

Gross Revenues

Administrative and Operating Expenses

Operating Profit

Profit/Loss before Tax

Profit/Loss after Tax

Financial Statement Analysis of Financial Sector

2012

Other Items
These include:

No. of Ordinary Shares

Cash Dividend

Stock Dividend

Cash Generated from Operating Activities

Mutual Funds (Close Ended)


The analysis includes the following variables:

Shareholders Equity
The composition and explanation of shareholders equity is same as explained earlier.

Liabilities
As the financial activities of mutual funds are limited, the composition of liabilities is divided
into two heads as follows:

Payable to Investment Adviser

Others

Assets
The asset base of mutual fund is also not broad, therefore, for analysis it is limited to three
items. These are available in the companys balance sheet and notes to financial statements.

Cash and Banks Balances

Investment

Others

Profit and Loss Account


The following items are taken into consideration for analysis. The relevant figures are
obtained from profit and loss account and notes to financial statements.
Interest Income
Dividend Income

Net Gain on Sale of Investment


Net Unrealized Gain
Income from Future
Transactions
Capital Gain

Other Income
Remuneration to Management
Co-advisor
Remuneration to Trustees/Custodian
Brokerage, Commission /Fee
Administrative and General
Expenses
Other Expenses

Financial Statement Analysis of Financial Sector

2012

Other Items
The information on the following is extracted from the balance sheet and relevant notes to
financial statements:

No. of Ordinary Shares

Cash Dividend

Stock Dividend

Cash Generated from Operating Activities

Modaraba Companies
Following variables are included in the analysis of modaraba companies:

Certificate Holders Equity


Modaraba company issues certificates instead of shares. Therefore the amount subscribed
through issuing certificates is termed as certificate capital. For analysis, certificate holders
equity is the sum of certificate capital, reserves, and un-appropriated profit/loss. Any other
items under the section of certificate holders equity is pooled under the head of others.

Certificates Capital

Reserves

Un-appropriated Profit/Loss

Others

Liabilities
These include current and non-current liabilities taken from the balance sheet.

Assets
The current and non-current assets and their break up are taken from balance sheet. In case of
current assets the amount of cash and bank balances is taken separately while the remaining
current assets are pooled under others. Similarly, long term investment and fixed assets are
taken individually while the remaining non-current assets are pooled under others.

Current Assets

Non-Current Assets

Cash and Banks Balances

Long Term Investment

Others

Fixed Assets

Others

Financial Statement Analysis of Financial Sector

2012

Profit and Loss Account


The following items are taken for analysis. The relevant figures are taken from profit and loss
account and notes to financial statements.

Gross Revenues

Modaraba Company Management Fee

Operating Expenses

Profit/Loss before Tax

Operating Profit

Profit/Loss after Tax

Other Items
These include:

No. of certificates outstanding as mentioned in balance sheet.

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

Non-Current Assets

Cash and Banks Balances

Long Term Investment

Others

Fixed Assets

Others

Financial Statement Analysis of Financial Sector

2012

Profit and Loss Account


The following items are taken from profit and loss account of the company:

Revenues

Admin and General Expenses

Profit/Loss before Tax

Profit/Loss after Tax

Other Items
The following items are extracted mainly from notes to accounts of the company:

No. of Ordinary Shares

Cash Dividend

Stock Dividend

Cash Generated from Operating Activities

Housing Finance
Following variables are involved in the analysis of housing finance company:

Shareholders Equity
The total shareholders equity is taken as sum of share capital, reserves, and un-appropriated
profit/loss while other items in the shareholders equity section of balance sheet are pooled
under others.

Share Capital

Reserves

Un-appropriated profit/Loss

Others

Liabilities
These include current and non-current liabilities, the amounts of lease finance and long-term
finance are extracted from non-current liabilities section while the remaining items of noncurrent liabilities are pooled under others.

Current liabilities

Noncurrent liabilities

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Financial Statement Analysis of Financial Sector

Lease Finance

Long Term Finance

Others

2012

Assets
The following items of current and non-current assets are taken for analysis:

Current Assets

Non-Current Assets

Cash and Banks Balances

Investment in Housing Finance

Others

Fixed 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:

No. of Ordinary Shares

Cash Dividend

Stock Dividend

Cash Generated from Operating Activities

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Financial Statement Analysis of Financial Sector

2012

Venture Capital
Following variables are included in the analysis of venture capital:

Shareholders Equity
The shareholders equity is the sum of share capital, reserve and un-appropriated profit/loss,
while 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-Current Assets

Cash and Bank Balances

Investment

Investment

Venture Investment

Others

Fixed Assets

Others

Profit and Loss Account


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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Financial Statement Analysis of Financial Sector

Other Items

These include:

No. of Ordinary Shares

Cash Dividend

Stock Dividend

Cash Generated from Operating Activities

Insurance Companies
Following variables are involved in the analysis of Insurance Companies:

Shareholders Equity
These include:

Share Capital

Reserves

Un-appropriated Profit/Loss

Others

Liabilities
These include:

Balance in the Statutory Fund

Outstanding Claims, Premiums Received in Advance, Amount


Due to Other Insurers

Other Liabilities

Assets
These include:

Cash and Balances with Banks

13

Advances

2012

Financial Statement Analysis of Financial Sector

Deposit with Banks

Loan to Employees

Investment in Govt. and Other

Other Assets

2012

Securities

Investment in Securities and Properties

Profit and Loss Account


These include:

Interest/Investment Income

Net Claims

Net Premium

Underwriting Profit

Gross Premium

Profit before Tax

Gross Claims

Profit after Tax

Other Items
These include:

No. of Ordinary Shares

Cash Dividend

Stock Dividend

Cash Generated from Operating Activities

1.3 Performance Indicators


Pakistans financial sector is an integration of institutions of diversified nature including Banks DFIs,
Leasing Companies, Modaraba Companies, Insurance Companies, Investment Banks, etc. Therefore,
ratios used to analyze these sectors may be different in some cases as different sectors have peculiar
business activities but some ratios are common to all sectors. Some important ratios and their
explanations are given below which may be read in combination with the analysis sheet of each sector
separately.

Efficiency/Profitability Ratio
Spread Ratio
=

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Financial Statement Analysis of Financial Sector

2012

Spread is the gap between interest rate a bank charges on loans and rate pays on deposits. The amount
of total interest earned divided by the total interest paid to depositors as mentioned in the income
statement. This ratio is useful for Banks and DFIs.

Net Interest Margin Ratio


=

*100

This ratio indicates the earning capacity through core banking business by utilizing all assets. Banks
normally borrow from savers and lend to investors. It is the ratio between the difference of interest
income and interest expense to total assets. It is also useful for Banks and DFIs.

Return on Assets (ROA)

This ratio expresses the capacity of earning profit by a bank on its total assets employed in the
business. It is calculated as percentage of net profit after tax to total assets. It is useful for whole
financial sector.

Return on Equity (ROE)


*100
Total Shareholders Equity (Pakistani Banks) = Share Capital + Reserves + Un-appropriated Profit
(Loss)
Total Shareholders Equity (Foreign Banks) =H.O Capital Account + Reserves +Unremitted Profit
This ratio expresses the return on shareholders equity. ROE is a direct measure of returns to the
shareholders. It is calculated as a percentage of the net profit after tax to total Shareholders equity. It
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 gains, commission, fee to total assets etc. This
ratio expresses how much income is earned other than mark-up through other functions of the bank by
employing total assets. It is useful for Banks and DFIs.

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Financial Statement Analysis of Financial Sector

2012

Interest Ratio

This ratio expresses the payment of interest mainly to depositors. The lower the ratio, the less the
company is burdened by debt expenses. It is useful for Banks and DFIs.

Administrative Expenses to Profit before Tax

This ratio expresses the relationship between administrative expenses and profit before tax. It is useful
for whole financial sector.

Net Interest Income after Provision to Total Assets

This is the ratio between interests earned less provision to total assets. It is useful for Banks and DFIs.

Non-Interest Expenses to Total Income

The ratio expresses the percentage of non-interest expenses to total income which reflects efficiency of
management in applying the banks resources. It is useful for Banks and DFIs.

Administrative Expenses to Non-Interest Income

This ratio expresses total administrative expenses to non-interest income. It is useful for Banks and
DFIs.

Earnings per Share (EPS)

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Financial Statement Analysis of Financial Sector

2012

EPS is the ratio between net profit after tax to number of shares outstanding at the end of the year as
shown in balance sheet and its relevant notes to accounts. It is useful for whole financial sector except
for Modaraba Companies where certificates are issued for raising capital.

Return on Capital Employed (ROCE)


*100

ROCE is a ratio that indicates the efficiency and profitability of a companys capital investments. The
amount of capital employed is calculated by subtracting current liabilities from total assets. It is useful
for whole financial sector except for banks, DFIs, Insurance, mutual fund.

Return on Revenue (ROR)

This is a measure of a companys profitability, calculated as net income divided by revenue. This ratio
is useful for Leasing Company, Mutual Fund, etc.

Lease Ratio

The core function of a leasing company is to earn profit from operating and financial lease. This ratio
expresses how much portion of total income is being generated through its core business. It is useful
for leasing company.

Operating Expense Ratio


*100
It is a measure of operating efficiency i.e., how well the management controls its expenses. Operating
expense ratio can be used to gauge the general health of the core or other businesses. It is useful for
Modaraba and Investment Banks.

Gain Ratio

A total gain comprises gain on sales of securities, gain on re-measurement, gain on disposal of longterm investment, etc. It is useful for Mutual Fund.

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Financial Statement Analysis of Financial Sector

2012

Trading Income Ratio

The core business of mutual fund is to gain from trading of shares and securities and the higher ratio
reflects that funds are being efficiently managed. Both figures are taken from the income statement. It
is useful for Mutual Fund.

Management Expenses Ratio


* 100
For mutual funds management expenses ratio is calculated by dividing remuneration to adviser by
total expenses.

Net Investment in Finance Lease to Total Assets

This ratio expresses the relationship of net investment in finance lease to total assets. This ratio is
useful for leasing companies.

Earning per Certificate

The ratio between profits after tax to number of certificates is an important efficiency ratio because it
reflects how much amount is earned on each certificate. It is useful for Modaraba Companies.

Net Claims incurred Ratio


*100
This expresses the efficiency of insurance company and is calculated as the claim incurred on net
premium. Higher ratio indicates that the incurrence of claims is more than premium. It is useful for
insurance companies.

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Financial Statement Analysis of Financial Sector

2012

Underwriting profit to Net profit

The ratio shows the percentage of underwriting profit as of net profit. Underwriting profit is net of
underwriting income and expenses of the cost of obtaining new policies. This ratio is useful for
insurance companies.

Investment Income to Net Premium

The ratio shows the relationship between investment income and net premium. This is one of the ratios
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 available in the form of highly liquid assets.

Total Deposit and other Accounts to Total assets

The ratio shows what percentage of total assets comprises total deposits and other accounts.

Investment and Total Assets

The ratio between Investment and total assets shows investment activity with reference to its total
assets. It indicates the portion of total assets used for investment in various venues. This ratio is useful
for banks, DFIs and insurance companies.

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Financial Statement Analysis of Financial Sector

2012

Advances and Total Assets

This ratio expresses the relationship of advances (net) to total assets. This ratio is useful for banks and
DFIs.

Total Liabilities to Total Assets

The ratio shows the proportion of banks assets, which are financed through debt. This ratio is useful
for banks and DFIs.

Gross Advances to Deposits


*100
The ratio expresses the percentage of gross advances to deposits and expresses the utilization of
deposits in the core business of a bank, i.e., intermediation. This ratio is useful for banks and DFIs.

Gross advances to Borrowing and Deposits

The ratio expresses the percentage of gross advances to deposits and borrowings. This ratio shows
activity of a banking business as it reflects that advances are being made more/less than deposits. This
ratio is useful for banks and DFIs.

Current Ratio

This ratio shows how many times current assets cover current liabilities and the strength of the
company to pay immediate liabilities. This ratio is used for whole financial sector except for banks
and DFIs.

Long Term Investment to Total Assets

The ratio between long-term investments to total assets shows investment activity with reference to its
total assets. It indicates the portion of total assets used to invest in different venues.

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Financial Statement Analysis of Financial Sector

2012

Assets Quality Ratios


Non-Performing Loans (NPLs) to Gross Advances

This ratio expresses the quality of loan portfolio of a bank. It shows the percentage of NPLs as gross
advances made by a bank and evaluates assets quality based on loan portfolio. This ratio is useful for
banks and DFIs.

Provision against NPLs and Gross Advances

The ratio between provisions against classified loans/advances to gross advances reflects the quality of
advances of banks and DFIs.

NPLs to Equity Ratio

Where,
Total Shareholders Equity (Pakistani Banks) = Share Capital + Reserves + Un-appropriated Profit (Loss)
Total Shareholders Equity (Foreign Banks) =H.O Capital Account + Reserves +Unremitted Profit

The ratio between NPLs to shareholders equity indicates the exposure of the common shareholders to
NPLs. 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 made against NPLs. This ratio is useful for
Banks and DFIs.

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Financial Statement Analysis of Financial Sector

2012

Capital/Leverage Ratios
Capital Ratio

Where,
Total Shareholders Equity (Pakistani Banks) = Share Capital + Reserves + Un-appropriated Profit
(Loss)
Total Shareholders Equity (Foreign Banks) =H.O Capital Account + Reserves +Unremitted Profit.
The ratio between shareholders equity and total assets expresses the percentage of equity in total
assets.

Contingent Liabilities and Commitment to Shareholders Equity

The ratio between contingent liabilities and commitments to shareholders equity expresses exposure
of contingent liabilities and commitments by banks.

Break-Up Value per Share

Break-up Value is net worth per share and is an important criterion to measure financial soundness of
a company. The break-up value is calculated for whole financial sector except in case of foreign banks
and Modaraba Companies.

Deposits to Equity Ratio

The ratio shows the relationship between total deposits in a bank to the total shareholders equity.

Break-up Value per Certificate

Break-up value is net worth per certificate and is one of the important criteria to measure the financial
soundness of a company. This ratio is calculated for Modaraba Companies only.

Capital Ratio (Modaraba Company)

22

Financial Statement Analysis of Financial Sector

2012

The ratio expresses the percentage of equity in total assets. It is calculated for Modaraba Companies
only.

Cash Flow Ratios


Cash Flow to Profit after Tax
=
The ratio expresses proportions of cash being spun off from ongoing operations. This ratio is useful
for the whole financial sector.

Cash flow to Current Liabilities Ratio

The ratio reflects cash generation strength of a company to meet current liabilities. This ratio is
calculated for all sectors except investment banks, insurance companies, banks, DFIs and mutual
funds.

23

Financial Statement Analysis of Financial Sector

Review and Financial Analysis

24

2011

Financial Statement Analysis of Financial Sector

2012

BANKS
PERFORMANCE AT A GLANCE
The balance sheet size of the banking sector expanded in CY12 and total assets of the sector grew
from Rs. 8.3 trillion in CY11 to Rs. 9.9 trillion in CY12 showing an increase of 19.3 percent. Profit
before taxation increased by 6.7 percent in CY12 over the previous year.

ANALYSIS OF BALANCE SHEET COMPONENTS


Total equity of banking sector witnessed an

Components of Balance Sheet

increase of Rs. 66.5 billion or 8.6 percent in


of Pakistani banks has been 9.3 percent over
the previous year whereas growth in total

25%

10,000
Billion Rs.

CY12 over CY11. The growth in total equity

12,000
20%

19%

8,000

15%

6,000

10%

9%

4,000

5%

2,000
0

equity of foreign banks was negative during


CY12 and witnessing a decrease of 4.7
percent over previous year.

20%

0%

Total SHE

Total
Liabilities

Total Assets

CY 11

776

7,487

8,295

CY 12

842

8,981

9,896

Growth

9%

20%

19%

ANALYSIS OF LIABILITIES
Total deposits rose to Rs 7.4 trillion in CY12

Share of Components in Total Liabilities

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

100%

Others
Deposits
Borrowings
Bills payable

80%

in total liabilities in CY12, while the

60%

remaining components of liabilities i.e., bills

40%

payables, borrowings and others contributed

20%

approximately 17.5 percent share of total

0%
CY 11

liabilities.

25

CY 12

Financial Statement Analysis of Financial Sector

2012

ANALYSIS OF ASSETS
Total assets of the banking sector
increased from Rs 8.3
registering

9.9 trillion in CY12

an

increase

of

19.3

percent. Investment grew by 32.1


percent while gross advances by 12.2

Billion Rs.

CY11 to Rs

trillion in

percent in CY12.
Lending

to

financial

institutions

decreased by Rs 36.9 billion or 17.8


percent in CY12 over CY11. In case

5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0

Major Components of Assets

45%

35%

32%

25%
18%
12%

15%
5%

-5%
-15%

-18%

-25%

Cash &
Cash Equl.

Lending

Investment

Advances

CY 11

896

208

3,079

3,838

CY 12

1,060

171

4,066

4,307

Growth

18%

-18%

32%

12%

of Pakistani banks, the lending decreased by 25.7 percent in CY12, however, in case of foreign banks,
it increased by 64 percent.

Banks advances increased to Rs 4.3

Analysis of Advances

trillion in CY12 showing an increase


of 12.2 percent over CY11. NPLs
compared to Rs 573.1 billion in
CY11.

NPLs

to

advances

ratio

decreased to 13.9 percent in CY12 as


compared to 14.9 percent in CY11.
NPL to total equity reduced from 73.9
percent in CY11 to 71.3 percent in

Billion Rs.

increased to Rs 600.2 billion in CY12

5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0

13%

12%

12%
10%

8%
6%

5%

6%

4%
2%

Adv. Gross

NPL

Provision

Adv. Net

CY 11

3,838

573

401

3,437

CY 12

4,307

600

426

3,881

Growth

12%

5%

6%

13%

CY12. Further, NPLs provision to


NPLs increased to 71 percent in CY12 from 70 percent in CY11.

26

14%

0%

Financial Statement Analysis of Financial Sector

2012

PROFITABILITY AND O PERATING EFFICIENCY


[

In terms of profitability of banking sector,


CY12 witnessed an increase of around 6.7

CY 12

percent in profit before taxation to

400.0
350.0

Rs183.2 billion during CY12 compared to


taxation increased from Rs 115.5 billion

300.0

Billion Rs.

Rs 171.7 billion in CY11. Profit after

CY 11

183.2

250.0
200.0

121.4

150.0
100.0

in CY11 to Rs 121.4 billion in CY12,

171.7
115.5

50.0

showing an increase of 5.1 percent.

0.0
Profit Before Taxation

Profit After Taxation

Looking at the efficiency ratios, the return


on assets (ROA) and return on equity

50.0%

(ROE), it is found that, ROE decreased

40.0%

percent in CY12 while ROA decreased

CY 12

35.0%

Growth

from 14.9 percent in CY11 to 14.4

45.0%

CY 11

46.1%
42.9%

30.0%
25.0%
20.0%

from 1.4 percent in CY11 to 1.2 percent

15.0%

in CY12. Spread ratio of banking sector

5.0%

14.9%

14.4%

10.0%
1.4% 1.2%

0.0%

decreased to 42.9 percent in CY12 from

Spread Ratio

ROE

ROA

46.1 percent in CY11.


On the income side, Interest/mark-up
income during CY12 was Rs

799.5

Interest Income

Non-Interest Income

billion as compared to Rs 752.6 billion


in CY11 witnessing an increase of Rs
46.9 billion or 6.2 percent over CY11.

84.8%

15.2%

CY 12

Non-interest/non-markup income also


increased from Rs 111.8 billion during
CY11 to Rs 143.5 billion during CY12,
depicting an increase of

28.4 percent

87.1%

12.9%

CY 11

over CY11. Interest income to total

Percentage.

income decreased to 84.8 percent in

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


from 12.9 percent in CY11 to 15.2 percent in CY12.

27

Financial Statement Analysis of Financial Sector

All Banks - Overall


Items
A.Total equity (A1 to A3)
1.Share capital/head office capital account
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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

505,469,823
277,045,918
148,257,246
80,166,659
62,957,129
5,074,573,572
69,530,488
460,028,229
4,226,432,569
318,582,286
5,643,000,524
477,615,770
184,087,341
188,414,080
1,085,196,330
3,417,406,346
313,020,509
237,965,887
3,179,440,459
191,279,879
336,966,665

582,598,286
322,555,374
163,552,147
96,490,765
84,003,150
5,864,049,257
71,535,885
659,274,039
4,797,876,214
335,363,119
6,530,650,693
537,292,488
195,972,436
238,445,016
1,708,679,933
3,564,239,824
425,320,610
304,669,387
3,259,570,437
192,043,955
398,646,428

608,877,873
348,918,576
180,810,459
79,148,838
88,918,247
6,487,089,832
75,421,757
550,000,562
5,513,917,020
347,750,493
7,184,885,952
595,747,162
180,559,909
214,680,843
2,175,903,429
3,789,016,135
562,428,103
372,648,121
3,416,368,014
203,626,548
398,000,047

775,509,119
452,485,660
188,764,710
134,258,749
32,403,813
7,487,012,740
85,260,553
683,657,769
6,322,351,444
395,742,974
8,294,925,672
702,543,369
193,122,487
207,550,849
3,079,015,043
3,838,001,919
573,055,250
400,846,488
3,437,155,431
218,291,515
457,246,978

841,961,117
466,753,970
215,437,093
159,770,054
73,986,937
8,980,526,575
112,340,488
1,032,462,262
7,412,335,990
423,387,834
9,896,474,628
842,600,994
217,533,957
170,628,139
4,065,901,747
4,306,883,138
600,208,608
426,045,957
3,880,837,181
225,158,715
493,813,895

482,070,799
246,295,314
235,775,485
104,266,763
130,344,598
103,289,492
166,010,509
160,702,985
63,261,197
43,415,974

593,703,103
326,058,617
276,157,706
113,917,187
162,212,990
106,091,369
190,059,825
182,414,959
69,304,886
48,198,550

630,569,606
337,669,590
287,472,434
78,361,932
212,455,704
105,468,634
207,934,611
201,053,704
113,795,360
71,158,233

752,638,230
407,410,190
346,556,416
60,554,101
298,589,035
111,791,427
233,025,411
228,321,908
171,693,258
115,504,513

799,520,878
456,268,314
343,252,564
39,757,645
303,494,918
143,507,792
252,070,262
258,767,558
183,228,944
121,437,317

1,849,272
2,565,591,273

604,337,114
3,078,623,557

502,982,911
3,121,226,583

1,036,423,916
3,725,659,708

1,160,622,157
3,815,235,353

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expense to markup/interest income (D2/D1)
8.Admin. expesne 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)

48.91%
4.18%
8.59%
0.77%
1.83%
2.31%
51.09%
2.54
28.36%
1.56

46.51%
4.10%
8.27%
0.74%
1.62%
2.48%
54.92%
2.63
27.16%
1.72

45.59%
4.08%
11.69%
0.99%
1.47%
2.96%
53.55%
1.77
28.25%
1.91

46.05%
4.16%
14.89%
1.39%
1.35%
3.60%
54.13%
1.33
26.96%
2.04

42.93%
3.47%
14.42%
1.23%
1.45%
3.07%
57.07%
1.41
26.73%
1.80

11.73%
19.23%
56.34%
74.90%
89.93%
80.86%
72.92%

11.23%
26.16%
49.91%
73.47%
89.79%
74.29%
65.31%

10.80%
30.28%
47.55%
76.74%
90.29%
68.72%
62.48%

10.80%
37.12%
41.44%
76.22%
90.26%
60.71%
54.78%

10.71%
41.08%
39.21%
74.90%
90.74%
58.10%
51.00%

9.16%
6.96%
61.93%
43.82%
76.02%

11.93%
8.55%
73.00%
37.39%
71.63%

14.84%
9.83%
92.37%
21.03%
66.26%

14.93%
10.44%
73.89%
15.11%
69.95%

13.94%
9.89%
71.29%
9.33%
70.98%

8.96%
5.08
8.36

8.92%
5.28
8.24

8.47%
5.13
9.06

9.35%
4.80
8.15

8.51%
4.53
8.80

0.04

12.54

7.07

8.97

9.56

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 & deposits C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loans to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

28

Financial Statement Analysis of Financial Sector

Local Banks - Overall


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

470,965,547
244,915,598
148,181,461
77,868,488
63,489,982
4,873,983,320
65,107,084
442,681,300
4,078,494,404
287,700,532
5,408,438,849
442,680,478
165,718,117
158,500,096
1,062,603,406
3,312,965,635
309,884,247
235,446,658
3,077,518,977
187,582,375
313,835,400

546,749,512
287,671,156
163,459,432
95,618,924
84,112,627
5,658,751,947
67,938,226
642,543,459
4,636,939,784
311,330,478
6,289,614,086
502,499,262
179,702,590
206,327,062
1,656,307,323
3,469,125,954
418,929,619
299,881,001
3,169,244,953
188,454,465
387,078,431

574,079,220
314,927,769
180,684,886
78,466,565
89,209,049
6,288,344,314
69,858,475
534,575,425
5,357,586,227
326,324,187
6,951,632,583
562,952,621
176,488,166
178,200,677
2,096,093,732
3,717,521,146
553,335,344
366,781,129
3,350,740,017
201,403,429
385,753,941

732,822,285
413,765,907
188,615,424
130,440,954
32,560,623
7,274,267,780
81,275,225
662,193,418
6,154,480,617
376,318,520
8,039,650,688
664,067,126
188,693,849
189,196,778
2,965,633,639
3,764,786,355
565,454,728
394,042,579
3,370,743,776
216,115,028
445,200,492

801,196,356
425,604,902
215,282,161
160,309,293
73,968,598
8,774,618,907
108,655,410
1,008,646,671
7,253,632,928
403,683,897
9,649,783,860
800,866,895
203,531,469
140,525,618
3,980,382,885
4,239,011,224
591,096,037
417,495,723
3,821,515,501
223,417,378
479,544,114

463,838,210
237,196,646
226,641,564
99,698,545
125,735,437
97,517,397
155,635,765
150,384,735
63,254,685
42,765,351

571,440,077
313,861,482
266,091,815
109,190,178
156,872,452
100,482,691
178,005,794
170,516,859
70,155,458
49,007,928

610,157,558
332,575,929
277,581,629
75,740,441
205,142,052
100,630,451
198,397,770
191,692,767
111,748,712
70,198,522

728,610,517
395,227,090
334,711,803
59,207,308
288,049,027
107,240,006
223,295,265
218,688,135
166,092,836
111,843,855

779,055,794
446,233,606
332,822,188
37,855,378
294,966,809
138,829,871
240,623,490
247,400,635
182,312,568
121,664,530

24,452,483

28,727,998

31,439,491

41,323,258

1,890,664,116

D.Profit & loss account


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 activities
5.Commitments and contigencies

N/A
N/A
(30,881,293)
2,165,108,445

N/A
N/A
577,721,142
2,689,531,535

N/A
N/A
490,297,865
2,675,985,776

N/A
N/A
1,008,200,055
3,269,242,950

N/A
N/A
1,151,029,859
3,406,703,080

48.86%
4.19%
9.08%
0.79%
1.80%
2.32%
51.14%
2.38
27.72%
1.54
1.75

46.57%
4.10%
8.96%
0.78%
1.60%
2.49%
54.92%
2.43
26.49%
1.70
1.71

45.49%
3.99%
12.23%
1.01%
1.45%
2.95%
54.51%
1.72
27.91%
1.90
2.23

45.94%
4.15%
15.26%
1.39%
1.33%
3.58%
54.24%
1.32
26.71%
2.04
2.71

42.72%
3.45%
15.19%
1.26%
1.44%
3.06%
57.28%
1.36
26.21%
1.78
0.06

11.25%
19.65%
56.90%
75.41%
90.12%
81.23%
73.28%

10.85%
26.33%
50.39%
73.72%
89.97%
74.81%
65.71%

10.64%
30.15%
48.20%
77.07%
90.46%
69.39%
63.09%

10.61%
36.89%
41.93%
76.55%
90.48%
61.17%
55.23%

10.41%
41.25%
39.60%
75.17%
90.93%
58.44%
51.31%

9.35%
7.11%
65.80%
42.34%
75.98%

12.08%
8.64%
76.62%
36.41%
71.58%

14.88%
9.87%
96.39%
20.65%
66.29%

15.02%
10.47%
77.16%
15.03%
69.69%

13.94%
9.85%
73.78%
9.07%
70.63%

8.71%
4.60
19.26
8.66

8.69%
4.92
19.03
8.48

8.26%
4.66
18.26
9.33

9.12%
4.46
17.73
8.40

8.30%
4.25
0.42
9.05

-0.72

11.79

6.98

9.01

9.46

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

29

Financial Statement Analysis of Financial Sector

Public Sector Banks - Overall


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

93,237,138
18,544,359
29,033,178
45,659,601
18,749,454
930,323,564
11,663,371
53,675,530
819,683,051
45,301,612
1,042,310,156
119,322,457
44,286,770
20,394,708
204,784,000
629,389,241
102,628,919
68,723,074
560,666,167
28,051,915
64,804,139

107,010,826
21,339,327
31,486,173
54,185,326
24,580,515
1,049,639,678
12,159,963
62,285,275
926,628,132
48,566,308
1,181,231,019
129,608,813
33,955,399
23,263,730
262,331,351
702,632,358
118,528,163
80,452,578
622,179,780
29,890,350
80,001,596

105,265,258
24,030,254
27,923,238
53,311,766
40,149,918
1,185,232,528
8,970,578
35,045,634
1,087,487,521
53,728,795
1,330,647,704
135,642,657
36,122,514
33,849,174
380,720,883
718,055,264
168,813,094
93,825,342
624,229,922
32,465,159
87,617,395

127,790,619
41,414,298
29,284,865
57,091,456
41,572,689
1,398,775,930
10,375,239
76,090,790
1,248,188,262
64,121,639
1,568,139,238
153,973,974
34,010,092
65,732,828
479,342,863
789,506,985
166,497,486
97,029,696
692,477,289
34,777,267
107,824,925

136,971,590
44,283,634
33,051,513
59,636,443
56,469,348
1,651,789,530
17,151,226
151,891,929
1,414,856,825
67,889,550
1,845,230,468
182,782,467
36,706,462
20,184,313
588,083,288
967,793,422
163,435,430
102,918,240
864,875,182
36,342,749
116,256,007

82,390,735
42,609,185
39,781,550
30,489,527
9,292,023
21,028,786
23,756,378
21,993,798
6,564,431
5,642,453

100,164,255
59,860,679
40,303,576
32,491,627
7,811,949
23,742,739
28,073,776
26,787,981
3,480,912
6,672,253

112,480,667
67,660,293
44,820,374
13,736,092
31,729,814
20,153,147
32,695,068
31,644,453
31,592,317
22,372,156

129,208,288
77,609,982
51,382,142
12,227,283
44,341,083
22,933,945
34,248,745
37,487,659
29,426,910
19,900,186

140,932,616
88,827,251
52,105,365
7,498,858
44,606,507
29,593,719
32,192,707
44,823,212
28,522,167
19,839,142

1,854,436

2,133,932

2,403,025

4,141,429

1,852,589,678

D.Profit & loss account


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 activities
5.Commitments and contigencies

N/A
N/A
(45,155,885)
294,175,142

N/A
N/A
974,839
290,828,179

N/A
N/A
126,587,260
453,490,628

N/A
N/A
107,777,017
598,692,114

N/A
N/A
132,675,084
669,675,039

48.28%
3.82%
6.05%
0.54%
2.02%
0.89%
51.72%
3.35
22.97%
1.05
3.04

40.24%
3.41%
6.24%
0.56%
2.01%
0.66%
59.76%
7.70
22.66%
1.13
3.13

39.85%
3.37%
21.25%
1.68%
1.51%
2.38%
60.15%
1.00
24.65%
1.57
9.31

39.77%
3.29%
15.57%
1.27%
1.46%
2.83%
60.07%
1.27
22.51%
1.63
4.81

36.97%
2.82%
14.48%
1.08%
1.60%
2.42%
63.03%
1.57
18.88%
1.51
0.01

15.70%
19.65%
53.79%
78.64%
89.26%
76.78%
72.07%

13.85%
22.21%
52.67%
78.45%
88.86%
75.83%
71.05%

12.91%
28.61%
46.91%
81.73%
89.07%
66.03%
63.97%

11.99%
30.57%
44.16%
79.60%
89.20%
63.25%
59.62%

11.89%
31.87%
46.87%
76.68%
89.52%
68.40%
61.77%

16.31%
10.92%
110.07%
44.37%
66.96%

16.87%
11.45%
110.76%
40.39%
67.88%

23.51%
13.07%
160.37%
14.64%
55.58%

21.09%
12.29%
130.29%
12.60%
58.28%

16.89%
10.63%
119.32%
7.29%
62.97%

8.95%
3.16
50.28
8.79

9.06%
2.72
50.15
8.66

7.91%
4.31
43.81
10.33

8.15%
4.68
30.86
9.77

7.42%
4.89
0.07
10.33

-8.00

0.15

5.66

5.42

6.69

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

30

Financial Statement Analysis of Financial Sector

FIRST WOMEN BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,135,800
283,650
228,540
623,610
(32,767)
6,200,688
101,993
27,140
5,939,308
132,247
7,303,721
575,929
400,761
350,849
2,264,088
3,409,842
105,512
105,512
3,304,330
174,833
232,931

1,058,318
283,650
228,540
546,128
35,049
9,164,693
89,020
31,328
8,756,793
287,552
10,258,060
713,140
586,849
1,136,025
4,097,423
3,481,854
207,633
207,633
3,274,221
203,972
246,430

1,084,517
283,650
233,282
567,585
21,504
11,597,139
102,182
966,885
10,195,214
332,858
12,703,160
836,311
600,228
926,323
3,430,251
6,535,694
430,232
227,554
6,308,140
188,248
413,659

1,645,428
1,080,038
284,991
280,399
74,136
14,408,971
96,417
51,100
13,814,854
446,600
16,128,535
973,701
561,555
1,605,946
4,730,434
7,901,127
523,443
200,064
7,701,063
229,344
326,492

1,991,641
1,494,113
293,863
203,665
85,599
20,413,560
548,727
73,340
19,193,344
598,149
22,490,800
1,188,234
636,034
4,219,779
7,263,885
8,573,327
612,714
238,684
8,334,643
239,084
609,141

736,103
212,601
523,502
50,153
473,349
90,343
373,249
367,798
190,443
106,020

896,476
408,000
488,476
179,549
308,927
66,879
462,060
451,930
(86,254)
(80,101)

1,374,548
763,841
610,707
76,899
533,808
57,141
536,272
533,679
54,677
23,711

1,918,759
1,176,451
742,308
5,475
747,783
253,719
601,399
600,986
400,103
258,547

1,798,231
1,037,893
760,338
50,508
709,830
95,581
716,920
716,657
88,491
43,556

28,365
0.00%
0.00%
(930,303)
202,048

28,365
0.00%
0.00%
2,108,232
226,087

28,365
0.00%
0.00%
(521,807)
201,272

108,004
0.00%
0.00%
1,070,465
297,230

149,411
0.00%
0.00%
2,531,961
807,143

71.12%
7.17%
9.33%
1.45%
1.24%
6.48%
28.88%
1.93
45.16%
4.07
3.74

54.49%
4.76%
-7.57%
-0.78%
0.65%
3.01%
45.51%
-5.24
47.96%
6.76
-2.82

44.43%
4.81%
2.19%
0.19%
0.45%
4.20%
55.57%
9.76
37.46%
9.34
0.84

38.69%
4.60%
15.71%
1.60%
1.57%
4.64%
61.31%
1.50
27.68%
2.37
2.39

42.28%
3.38%
2.19%
0.19%
0.42%
3.16%
57.72%
8.10
37.86%
7.50
0.29

13.37%
31.00%
45.24%
81.32%
84.90%
57.41%
57.15%

12.67%
39.94%
31.92%
85.37%
89.34%
39.76%
39.62%

11.31%
27.00%
49.66%
80.26%
91.29%
64.11%
58.55%

9.52%
29.33%
47.75%
85.65%
89.34%
57.19%
56.98%

8.11%
32.30%
37.06%
85.34%
90.76%
44.67%
44.50%

3.09%
3.09%
9.29%
47.53%
100.00%

5.96%
5.96%
19.62%
86.47%
100.00%

6.58%
3.48%
39.67%
33.79%
52.89%

6.62%
2.53%
31.81%
2.74%
38.22%

7.15%
2.78%
30.76%
21.16%
38.96%

15.55%
0.18
40.04
5.23

10.32%
0.21
37.31
8.27

8.54%
0.19
38.23
9.40

10.20%
0.18
15.23
8.40

8.86%
0.41
13.33
9.64

-8.77

-26.32

-22.01

4.14

58.13

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

31

Financial Statement Analysis of Financial Sector

NATIONAL BANK OF PAKISTAN


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

81,367,002
8,969,751
19,941,047
52,456,204
21,092,216
715,299,108
10,219,061
40,458,926
624,939,016
39,682,105
817,758,326
106,503,756
38,344,608
17,128,032
170,822,491
457,828,029
56,502,583
44,841,164
412,986,865
24,217,655
47,754,919

95,855,355
10,763,702
23,395,059
61,696,594
24,937,197
825,460,717
10,621,169
44,828,138
727,513,013
42,498,397
946,253,269
116,668,514
28,786,397
19,683,526
217,596,037
531,103,507
71,174,034
55,765,068
475,338,439
25,200,870
62,979,486

105,687,665
13,454,629
25,129,425
67,103,611
25,611,167
906,719,635
8,006,631
19,657,207
832,134,054
46,921,743
1,038,018,467
115,657,025
30,743,368
23,051,171
301,078,498
540,130,378
86,871,353
61,243,623
478,886,755
27,620,697
60,980,953

112,671,683
16,818,285
26,212,505
69,640,893
23,282,533
1,019,012,206
9,104,710
27,671,745
927,410,553
54,825,198
1,154,966,422
131,843,344
28,070,350
43,973,531
319,353,392
595,630,955
88,391,640
67,509,359
528,121,596
29,064,564
74,539,645

119,434,799
18,500,114
30,305,210
70,629,475
36,743,263
1,159,982,395
14,367,639
51,112,248
1,038,094,985
56,407,523
1,316,160,457
158,756,638
30,895,173
8,280,997
342,964,635
734,349,374
89,159,413
73,349,374
661,000,000
29,714,221
84,548,793

60,942,798
23,884,768
37,058,030
10,970,814
26,087,216
16,415,862
19,502,080
18,171,198
23,000,998
15,458,590

78,124,796
40,448,291
37,676,505
11,820,292
25,856,213
19,109,332
23,766,703
22,816,665
21,198,842
17,449,042

88,681,381
45,169,744
43,511,637
10,009,482
33,502,155
18,150,883
27,030,751
26,732,045
24,622,287
17,738,405

95,956,361
48,566,973
47,173,224
9,358,165
37,815,059
19,738,325
28,131,683
30,945,203
26,131,683
17,724,846

101,125,889
56,552,485
44,573,404
8,019,096
36,554,308
24,804,561
24,063,424
36,733,708
24,063,424
16,887,057

896,975
65.00%
20.00%
2,532,681
241,861,468

1,076,370
75.00%
25.00%
40,806,019
236,732,608

1,345,463
75.00%
25.00%
92,320,340
405,881,788

1,681,828
75.00%
10.00%
41,816,805
520,889,243

1,850,011,327
70.00%
15.00%
60,861,739
520,100,721

60.81%
4.53%
19.00%
1.89%
2.01%
3.19%
39.19%
0.79
25.21%
1.11
17.23

48.23%
3.98%
18.20%
1.84%
2.02%
2.73%
51.77%
1.08
24.44%
1.19
16.21

49.07%
4.19%
16.78%
1.71%
1.75%
3.23%
50.93%
1.09
25.30%
1.47
13.18

49.16%
4.10%
15.73%
1.53%
1.71%
3.27%
50.61%
1.18
24.32%
1.57
10.54

44.08%
3.39%
14.14%
1.28%
1.88%
2.78%
55.92%
1.53
19.11%
1.48
0.01

17.71%
20.89%
50.50%
76.42%
87.47%
73.26%
68.81%

15.37%
23.00%
50.23%
76.88%
87.23%
73.00%
68.77%

14.10%
29.01%
46.13%
80.17%
87.35%
64.91%
63.41%

13.85%
27.65%
45.73%
80.30%
88.23%
64.23%
62.36%

14.41%
26.06%
50.22%
78.87%
88.13%
70.74%
67.42%

12.34%
9.79%
69.44%
24.47%
79.36%

13.40%
10.50%
74.25%
21.20%
78.35%

16.08%
11.34%
82.20%
16.34%
70.50%

14.84%
11.33%
78.45%
13.86%
76.38%

12.14%
9.99%
74.65%
10.93%
82.27%

9.95%
2.97
90.71
7.68

10.13%
2.47
89.05
7.59

10.18%
3.84
78.55
7.87

9.76%
4.62
66.99
8.23

9.07%
4.35
0.06
8.69

0.16

2.34

5.20

2.36

3.60

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

32

Financial Statement Analysis of Financial Sector

SINDH BANK LTD.


2010

Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

10,749,561
10,000,000
149,912
599,649
(86,548)
37,067,110
42,251
13,012,647
23,517,740
494,472
47,730,123
1,655,815
243,519
10,905,410
26,081,535
7,259,330
0
0
7,259,330
584,054
1,000,460

11,037,333
10,000,000
327,466
709,867
50,855
81,202,911
176,125
48,602,402
31,469,652
954,732
92,291,099
2,430,525
424,573
4,619,591
62,631,024
19,281,888
0
0
19,281,888
1,556,804
1,346,694

3,704,280
2,241,345
1,462,935
31,382
1,431,553
222,183
513,773
513,773
1,139,963
749,561

6,141,198
4,102,783
2,038,415
1,069
2,037,346
526,717
1,277,636
1,277,607
1,286,427
88,772

1,000,000
0.00%
0.00%
18,654,331
25,311,295

1,000,000
6.00%
0.00%
38,872,837
65,855,409

39.49%
3.07%
6.97%
1.57%
0.47%
3.00%
60.51%
0.45
13.08%
2.31
0.75

33.19%
2.21%
0.80%
0.10%
0.57%
2.21%
66.81%
0.99
19.16%
2.43
0.09

3.98%
54.64%
15.21%
49.27%
77.66%
30.87%
19.87%

3.09%
67.86%
20.89%
34.10%
87.99%
61.27%
24.08%

0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

22.52%
2.35
10.75
2.19

11.96%
5.97
11.04
2.85

24.89

437.90

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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

Financial Statement Analysis of Financial Sector

THE BANK OF KHYBER


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,677,816
4,002,984
1,436,359
238,473
(996,600)
26,657,773
122,516
910,691
24,732,195
892,371
31,338,989
1,557,715
3,362,946
2,282,494
8,985,441
14,925,119
3,331,487
2,281,305
12,643,814
187,589
2,318,990

5,040,633
5,004,001
435,342
(398,710)
921,664
32,848,273
229,973
5,147,036
26,285,794
1,185,470
38,810,570
1,542,102
2,403,698
1,810,846
17,925,911
14,820,746
4,457,159
2,984,784
11,835,962
1,013,670
2,278,381

5,604,119
5,004,001
548,039
52,079
3,796,254
41,393,930
280,665
2,894,759
36,981,351
1,237,155
50,794,303
5,079,720
1,502,684
2,562,093
19,852,730
21,272,033
4,117,581
3,033,700
18,238,333
1,121,554
2,437,189

9,700,427
8,228,001
722,501
749,925
665,067
58,058,972
281,292
10,391,732
45,548,423
1,837,525
68,424,466
2,802,781
1,527,561
1,800,566
36,684,689
25,284,711
3,938,731
2,996,912
22,287,799
1,301,822
2,019,248

10,775,628
9,001,433
937,541
836,654
951,171
70,450,839
558,026
7,420,113
60,043,083
2,429,617
82,177,638
3,108,819
1,649,512
1,501,000
45,671,700
29,708,787
4,334,605
3,016,021
26,692,766
1,359,149
2,194,692

2,958,865
1,897,816
1,061,049
238,593
822,456
339,755
956,315
654,869
205,896
137,348

3,390,014
2,390,388
999,626
1,261,819
(262,193)
383,702
920,279
719,453
(798,770)
(637,183)

4,207,155
2,925,066
1,282,089
322,766
1,604,855
59,677
951,391
943,680
713,141
563,486

6,946,827
4,551,942
2,394,885
244,624
2,150,261
730,010
1,285,458
1,468,480
1,285,458
872,308

7,204,937
4,611,172
2,593,765
178,113
2,415,652
976,115
1,569,218
1,657,560
1,569,218
1,075,201

400,298
25.00%
0.00%
1,626,745
5,208,484

500,400
0.00%
0.00%
6,445,596
6,966,342

500,400
0.00%
0.00%
1,804,102
7,560,301

822,800
0.00%
0.00%
13,250,791
9,270,649

900,143
0.00%
9.40%
9,862,004
14,977,927

35.86%
3.39%
2.42%
0.44%
1.08%
2.62%
64.14%
3.18
28.99%
1.93
0.34

29.49%
2.58%
-12.64%
-1.64%
0.99%
-0.68%
70.51%
-0.90
24.39%
1.88
-1.27

30.47%
2.52%
10.05%
1.11%
0.12%
3.16%
69.53%
1.32
22.30%
15.81
1.13

34.47%
3.50%
8.99%
1.27%
1.07%
3.14%
65.53%
1.14
16.74%
2.01
1.06

36.00%
3.16%
9.98%
1.31%
1.19%
2.94%
64.00%
1.06
19.18%
1.70
1.19

15.70%
28.67%
40.35%
78.92%
85.06%
60.35%
58.20%

10.17%
46.19%
30.50%
67.73%
84.64%
56.38%
47.15%

12.96%
39.08%
35.91%
72.81%
81.49%
57.52%
53.35%

6.33%
53.61%
32.57%
66.57%
84.85%
55.51%
45.20%

5.79%
55.58%
32.48%
73.06%
85.73%
49.48%
44.04%

22.32%
15.29%
58.68%
10.46%
68.48%

30.07%
20.14%
88.42%
42.28%
66.97%

19.36%
14.26%
73.47%
10.64%
73.68%

15.58%
11.85%
40.60%
8.16%
76.09%

14.59%
10.15%
40.23%
5.91%
69.58%

18.12%
0.92
14.18
4.36

12.99%
1.38
10.07
5.21

11.03%
1.35
11.20
6.60

14.18%
0.96
11.79
4.70

13.11%
1.39
11.97
5.57

3.20

15.19

9.17

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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


11.84

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

34

-10.12

Financial Statement Analysis of Financial Sector

THE BANK OF PUNJAB


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,056,520
5,287,974
7,427,232
(7,658,686)
(1,313,395)
182,165,995
1,219,801
12,278,773
164,072,532
4,594,889
185,909,120
10,685,057
2,178,455
633,333
22,711,980
153,226,251
42,689,337
21,495,093
131,731,158
3,471,838
14,497,299

5,056,520
5,287,974
7,427,232
(7,658,686)
(1,313,395)
182,165,995
1,219,801
12,278,773
164,072,532
4,594,889
185,909,120
10,685,057
2,178,455
633,333
22,711,980
153,226,251
42,689,337
21,495,093
131,731,158
3,471,838
14,497,299

(7,111,043)
5,287,974
2,012,492
(14,411,509)
10,720,993
225,521,824
581,100
11,526,783
208,176,902
5,237,039
229,131,774
14,069,601
3,276,234
7,309,587
56,359,404
150,117,159
77,393,928
29,320,465
120,796,694
3,534,660
23,785,594

(6,976,480)
5,287,974
1,914,956
(14,179,410)
17,637,501
270,228,671
850,569
24,963,566
237,896,692
6,517,844
280,889,692
16,698,333
3,607,107
7,447,375
92,492,813
153,430,862
73,643,672
26,323,361
127,107,501
3,597,483
29,939,080

(6,267,811)
5,287,974
1,187,433
(12,743,218)
18,638,460
319,739,825
1,500,709
44,683,826
266,055,761
7,499,529
332,110,474
17,298,251
3,101,170
1,562,946
129,552,044
175,880,046
69,328,698
26,314,161
149,565,885
3,473,491
27,556,687

17,752,969
16,614,000
1,138,969
19,229,967
(18,090,998)
4,182,826
2,924,734
2,799,933
(16,832,906)
(10,059,505)

17,752,969
16,614,000
1,138,969
19,229,967
(18,090,998)
4,182,826
2,924,734
2,799,933
(16,832,906)
(10,059,505)

18,217,583
18,801,642
(584,059)
3,326,945
(3,911,004)
1,885,446
4,176,654
3,435,049
6,202,212
4,046,554

20,682,061
21,073,271
(391,210)
2,587,637
2,196,427
1,989,708
3,716,432
3,959,217
469,703
294,924

24,662,361
22,522,918
2,139,443
(749,928)
2,889,371
3,190,745
4,565,509
4,437,680
1,514,607
1,744,556

528,797
0.00%

528,797
0.00%

528,797
0.00%
0.00%
32,984,625
42,923,697

528,797
0.00%
0.00%
20,546,543
67,933,839

D.Profit & loss account


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 activities
5.Commitments and contigencies

(48,385,008)
46,903,142

(48,385,008)
46,903,142

528,797
0.00%
0.00%
32,984,625
39,847,267

6.42%
0.61%
-198.94%
-5.41%
2.25%
-9.73%
93.58%
-0.17
13.33%
0.67
-19.02

6.42%
0.61%
-198.94%
-5.41%
2.25%
-9.73%
93.58%
-0.17
13.33%
0.67
-19.02

-3.21%
-0.25%
-56.91%
1.77%
0.82%
-1.71%
103.21%
0.55
20.78%
1.82
7.65

-1.89%
-0.14%
-4.23%
0.10%
0.71%
0.78%
101.89%
8.43
16.39%
1.99
0.56

8.67%
0.64%
-27.83%
0.53%
0.96%
0.87%
91.33%
2.93
16.39%
1.39
3.30

6.92%
12.22%
70.86%
88.25%
97.99%
93.39%
86.89%

6.92%
12.22%
70.86%
88.25%
97.99%
93.39%
86.89%

7.57%
24.60%
52.72%
90.85%
98.42%
72.11%
68.33%

7.23%
32.93%
45.25%
84.69%
96.20%
64.49%
58.37%

6.14%
39.01%
45.03%
80.11%
96.28%
66.11%
56.60%

27.86%
14.03%
844.24%
89.46%
50.35%

27.86%
14.03%
844.24%
89.46%
50.35%

51.56%
19.53%
-1,088.36%
11.35%
37.88%

48.00%
17.16%
-1,055.60%
9.83%
35.74%

39.42%
14.96%
-1,106.11%
-2.85%
37.96%

2.72%
9.28
9.56
32.45

2.72%
9.28
9.56
32.45

-3.10%
-5.60
-13.45
-29.28

-2.48%
-6.15
-13.19
-34.10

-1.89%
-10.84
-11.85
-42.45

4.81

4.81

8.15

111.84

11.78

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

35

Financial Statement Analysis of Financial Sector

Private Sector Banks - Overall


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

385,359,458
210,865,136
116,709,912
57,784,410
41,246,518
3,809,313,808
52,687,992
305,687,636
3,244,927,861
206,010,319
4,235,919,784
320,517,786
103,115,398
137,405,388
845,773,291
2,582,387,596
184,544,581
145,648,689
2,436,738,907
154,423,798
237,945,216

448,140,588
250,825,234
129,499,179
67,816,175
55,865,074
4,474,936,926
55,027,426
496,966,731
3,696,318,107
226,624,662
4,978,942,588
370,158,326
127,593,768
182,548,618
1,382,688,908
2,664,890,312
270,852,209
198,582,490
2,466,307,822
153,471,610
296,173,536

471,171,613
275,390,507
147,094,236
48,686,870
44,946,493
4,960,244,529
60,505,858
419,118,618
4,250,710,080
229,909,973
5,476,362,635
423,371,845
127,653,884
144,242,701
1,701,035,170
2,884,602,221
351,693,460
252,080,464
2,632,521,757
163,849,689
283,687,589

601,631,233
356,844,077
149,928,873
94,858,283
(13,734,194)
5,733,885,599
70,475,916
508,175,430
4,888,613,085
266,621,168
6,321,782,638
506,215,567
141,313,852
122,588,383
2,466,846,533
2,860,671,252
364,369,664
276,619,717
2,584,051,535
176,239,464
324,527,304

656,110,114
365,970,171
171,223,054
118,916,889
12,237,693
6,975,848,966
91,066,624
777,583,511
5,821,368,276
285,830,555
7,644,196,773
613,690,122
156,836,573
119,530,298
3,366,805,968
3,151,495,745
393,447,701
294,126,783
2,857,368,962
182,248,558
347,716,292

370,761,372
189,477,389
181,283,983
67,875,442
113,412,163
70,125,358
125,060,096
122,545,992
52,529,021
34,800,231

460,314,435
247,726,810
221,100,885
74,874,595
146,197,065
70,429,526
143,019,662
137,112,537
63,542,898
40,603,888

486,294,541
259,347,973
226,946,568
60,248,131
169,223,241
75,509,790
159,009,575
153,363,449
77,693,011
46,343,893

587,215,925
312,416,559
275,771,106
46,126,885
237,233,529
80,911,964
182,743,991
175,075,233
133,093,925
89,508,150

624,327,371
352,899,506
271,427,865
29,142,905
242,284,959
104,638,804
199,615,432
193,908,737
149,933,061
99,296,679

21,086,511

25,082,524

27,539,050

35,684,408

36,577,017

D.Profit & loss account


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 activities
5.Commitments and contigencies

N/A
N/A
16,415,664
1,847,899,393

N/A
N/A
576,781,074
2,372,671,025

N/A
N/A
363,931,590
2,207,087,299

N/A
N/A
898,245,788
2,655,822,165

N/A
N/A
1,018,519,296
2,721,028,677

48.90%
4.28%
9.03%
0.82%
1.66%
2.68%
51.10%
2.33
28.37%
1.75
1.65

48.03%
4.27%
9.06%
0.82%
1.41%
2.94%
53.82%
2.16
26.95%
1.95
1.62

46.67%
4.14%
9.84%
0.85%
1.38%
3.09%
53.33%
1.97
28.30%
2.03
1.68

46.96%
4.35%
14.88%
1.42%
1.28%
3.75%
53.20%
1.32
27.35%
2.16
2.51

43.48%
3.55%
15.13%
1.30%
1.37%
3.17%
56.52%
1.29
27.38%
1.85
2.71

10.00%
19.97%
57.53%
76.61%
89.93%
79.58%
72.73%

10.00%
27.77%
49.53%
74.24%
89.88%
72.10%
63.55%

10.06%
31.06%
48.07%
77.62%
90.58%
67.86%
61.77%

10.24%
39.02%
40.88%
77.33%
90.70%
58.52%
53.01%

10.08%
44.04%
37.38%
76.15%
91.26%
54.14%
47.76%

7.15%
5.64%
47.89%
46.60%
78.92%

10.16%
7.45%
60.44%
37.70%
73.32%

12.19%
8.74%
74.64%
23.90%
71.68%

12.74%
9.67%
60.56%
16.68%
75.92%

12.48%
9.33%
59.97%
9.91%
74.76%

9.10%
4.80
18.28
8.42

9.00%
5.29
17.87
8.25

8.60%
4.68
17.11
9.02

9.52%
4.41
16.86
8.13

8.58%
4.15
17.94
8.87

0.47

14.21

7.85

10.04

10.26

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

36

Financial Statement Analysis of Financial Sector

ALBARAKA BANK (PAKISTAN) LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

4,051,584
4,500,000
0
(448,416)
17,255
12,468,548
148,403
725,000
10,892,602
702,543
16,537,387
909,378
195,134
320,000
2,756,159
7,788,664
13,537
11,181
7,777,483
1,619,029
2,960,204

3,487,571
4,500,000
0
(1,012,429)
5,388
16,269,491
262,691
20,000
15,081,242
905,558
19,762,450
1,337,892
959,078
1,600,000
3,356,705
9,760,212
1,213,994
320,969
9,439,243
1,741,736
1,327,796

6,115,886
8,935,200
0
(2,819,314)
3,191
54,644,587
427,600
2,756,892
49,324,209
2,135,886
60,763,664
4,460,257
7,409,620
80,000
15,617,589
28,820,378
3,735,780
1,923,180
26,897,198
2,732,332
3,566,668

6,526,256
8,935,200
82,074
(2,491,018)
(1,773)
66,020,396
451,030
1,736,120
61,559,026
2,274,220
72,544,879
3,945,481
7,577,186
0
26,179,416
29,601,824
4,466,038
1,991,116
27,610,708
2,798,165
4,433,923

5,883,539
8,935,200
82,074
(3,133,735)
138,414
67,847,098
746,651
1,991,738
63,278,655
1,830,054
73,869,051
4,221,381
6,712,477
1,100,000
27,421,461
31,509,123
6,093,026
2,726,675
28,782,448
2,629,176
3,002,108

1,060,376
598,062
462,314
1,811
464,125
95,111
950,599
949,634
(391,363)
(260,116)

1,914,228
1,234,890
679,338
344,009
335,329
301,855
1,436,066
1,410,569
(798,882)
(564,013)

2,198,794
1,658,608
540,186
764,375
(224,189)
247,021
1,595,139
1,508,590
(1,572,307)
(1,039,595)

6,699,178
5,001,222
1,697,956
227,176
1,925,132
482,058
1,926,488
1,910,731
480,702
410,370

6,271,140
4,725,249
1,545,891
802,491
743,400
406,151
2,102,545
1,991,125
(952,994)
(642,717)

450,000
0.00%
0.00%
406,132
3,064,151

450,000
0.00%
0.00%
2,173,889
8,660,685

893,520
0.00%
0.00%
8,797,050
14,532,742

893,520
0.00%
0.00%
10,255,250
12,436,239

893,520
0.00%
0.00%
523,909
13,347,433

43.60%
2.80%
-6.42%
-1.57%
0.58%
2.81%
56.40%
-2.43
82.27%
9.98
-0.58

35.49%
3.44%
-16.17%
-2.85%
1.53%
1.70%
64.51%
-1.77
64.80%
4.67
-1.25

24.57%
0.89%
-17.00%
-1.71%
0.41%
-0.37%
75.43%
-0.96
65.22%
6.11
-1.16

25.35%
2.34%
6.29%
0.57%
0.66%
2.65%
74.65%
3.97
26.83%
3.96
0.46

24.65%
2.09%
-10.92%
-0.87%
0.55%
1.01%
75.35%
-2.09
31.49%
4.90
-0.72

6.68%
16.67%
47.03%
65.87%
75.40%
71.50%
67.04%

11.62%
16.99%
47.76%
76.31%
82.33%
64.72%
64.63%

19.53%
25.70%
44.27%
81.17%
89.93%
58.43%
55.34%

15.88%
36.09%
38.06%
84.86%
91.01%
48.09%
46.77%

14.80%
37.12%
38.96%
85.66%
91.85%
49.79%
48.27%

0.17%
0.14%
0.33%
16.20%
82.60%

12.44%
3.29%
34.81%
107.18%
26.44%

12.96%
6.67%
61.08%
39.75%
51.48%

15.09%
6.73%
68.43%
11.41%
44.58%

19.34%
8.65%
103.56%
29.43%
44.75%

24.50%
0.76
9.00
2.69

17.65%
2.48
7.75
4.32

10.07%
2.38
6.84
8.06

9.00%
1.91
7.30
9.43

7.96%
2.27
6.58
10.76

-1.56

-3.85

-8.46

24.99

-0.82

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

37

Financial Statement Analysis of Financial Sector

ALLIED BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

20,805,117
6,463,644
5,804,776
8,536,697
1,550,497
344,340,055
2,952,490
27,778,151
297,475,321
16,134,093
366,695,669
23,653,754
2,096,779
15,793,183
82,646,595
223,639,777
13,771,895
10,667,769
212,972,008
11,134,436
18,398,914

25,857,515
7,110,008
6,582,845
12,164,662
4,062,279
388,421,058
3,162,429
39,818,532
328,872,559
16,567,538
418,340,852
26,435,683
1,280,591
28,122,932
94,673,100
249,925,187
16,281,178
12,542,665
237,382,522
12,459,586
17,986,438

31,191,174
7,821,009
7,516,910
15,853,255
4,798,456
413,976,778
4,118,791
20,774,450
371,280,948
17,802,589
449,966,408
31,265,658
579,700
11,488,944
121,158,730
268,532,972
18,688,166
15,430,262
253,102,710
15,371,118
16,999,548

37,761,572
8,603,110
8,762,745
20,395,717
5,717,786
472,409,254
4,015,317
49,993,200
399,560,790
18,839,947
515,888,612
36,479,765
1,679,121
1,361,754
195,789,638
262,143,554
20,452,465
17,703,717
244,439,837
18,095,123
18,043,374

43,275,849
9,463,421
10,906,250
22,906,178
7,987,705
581,038,152
6,203,051
38,916,192
514,702,444
21,216,465
632,301,706
43,351,703
1,029,292
10,720,935
267,682,679
288,920,715
20,667,561
17,805,032
271,115,683
18,475,755
19,925,659

30,570,540
17,272,724
13,297,816
3,156,001
10,141,815
4,896,915
8,917,790
8,121,805
6,120,940
4,156,686

41,144,667
22,421,218
18,723,449
4,511,166
14,212,283
6,078,257
9,718,918
9,517,584
10,571,622
7,149,310

45,011,184
22,465,506
22,545,678
4,083,385
18,462,293
5,867,378
11,914,322
11,344,090
12,415,279
8,283,817

51,828,897
26,696,185
25,132,712
3,009,024
22,123,688
7,263,796
14,129,619
13,289,101
15,257,865
10,256,173

49,512,005
31,180,990
18,331,015
650,560
17,680,455
14,244,897
15,778,911
14,686,046
16,146,441
11,882,367

646,364
25.00%
10.00%
563,633
126,060,778

711,001
40.00%
10.00%
10,687,333
120,551,592

782,101
40.00%
10.00%
36,199,585
108,128,287

860,311
50.00%
10.00%
86,857,938
173,528,427

946,342
65.00%
10.00%
75,355,317
138,568,953

43.50%
3.63%
19.98%
1.13%
1.34%
2.77%
56.50%
1.33
25.14%
1.66
6.43

45.51%
4.48%
27.65%
1.71%
1.45%
3.40%
54.49%
0.90
20.58%
1.57
10.06

50.09%
5.01%
26.56%
1.84%
1.30%
4.10%
49.91%
0.91
23.42%
1.93
10.59

48.49%
4.87%
27.16%
1.99%
1.41%
4.29%
51.51%
0.87
23.91%
1.83
11.92

37.02%
2.90%
27.46%
1.88%
2.25%
2.80%
62.98%
0.91
24.75%
1.03
12.56

7.02%
22.54%
58.08%
81.12%
93.90%
75.18%
68.76%

6.63%
22.63%
56.74%
78.61%
92.85%
75.99%
67.79%

7.08%
26.93%
56.25%
82.51%
92.00%
72.33%
68.49%

7.40%
37.95%
47.38%
77.45%
91.57%
65.61%
58.31%

7.02%
42.33%
42.88%
81.40%
91.89%
56.13%
52.19%

6.16%
4.77%
66.19%
29.58%
77.46%

6.51%
5.02%
62.96%
35.97%
77.04%

6.96%
5.75%
59.91%
26.46%
82.57%

7.80%
6.75%
54.16%
17.00%
86.56%

7.15%
6.16%
47.76%
3.65%
86.15%

5.67%
6.06
32.19
14.30

6.18%
4.66
36.37
12.72

6.93%
3.47
39.88
11.90

7.32%
4.60
43.89
10.58

6.84%
3.20
45.73
11.89

0.14

1.49

4.37

8.47

6.34

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

38

Financial Statement Analysis of Financial Sector

ASKARI BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

12,034,895
4,058,774
7,667,141
308,980
936,468
193,219,775
2,584,828
15,190,148
167,676,572
7,768,227
206,191,138
16,029,635
3,954,814
4,479,754
35,677,755
139,830,973
11,689,417
11,012,731
128,818,242
8,266,458
8,964,480

13,164,224
5,073,467
7,287,041
803,716
1,823,647
239,365,567
2,945,670
19,300,163
205,912,903
11,206,831
254,353,438
19,385,850
8,374,640
4,649,059
66,885,617
147,633,745
17,725,451
12,593,844
135,039,901
9,332,361
10,686,010

14,819,933
6,427,440
7,712,855
679,638
1,212,292
298,747,904
3,089,984
25,554,777
255,908,149
14,194,994
314,780,129
22,565,190
3,787,538
9,194,186
102,100,063
168,435,880
21,598,648
15,651,626
152,784,254
10,084,422
14,264,476

16,585,997
7,070,184
8,135,795
1,380,018
1,295,861
325,983,862
2,756,032
17,274,979
291,499,395
14,453,456
343,865,720
26,168,206
6,236,116
1,613,584
133,655,387
167,381,246
23,645,541
16,668,690
150,712,556
9,451,033
16,028,838

17,787,356
8,130,711
8,541,776
1,114,869
2,040,025
333,383,893
3,700,156
8,376,740
306,929,729
14,377,268
353,211,274
24,435,422
8,865,303
6,341,474
145,354,253
162,855,583
26,518,448
19,127,748
143,727,835
8,901,522
15,585,465

18,393,313
10,650,719
7,742,594
4,072,597
3,669,997
2,707,000
5,915,615
5,904,169
461,382
386,225

22,590,230
13,542,210
9,048,020
2,914,893
6,133,127
2,625,545
7,159,061
7,124,693
1,599,691
1,068,864

27,954,956
17,931,715
10,023,241
3,035,725
6,987,516
2,234,053
8,009,956
7,937,367
1,249,627
919,461

32,768,950
22,699,089
10,069,861
1,771,471
8,298,390
3,017,770
8,874,165
8,787,381
2,454,944
1,705,207

32,404,345
22,973,385
9,430,960
2,693,356
6,737,604
4,316,216
9,315,577
9,226,563
1,766,057
1,289,145

405,877
0.00%
25.00%
2,596,563
202,238,722

507,347
0.00%
20.00%
36,871,225
106,574,473

642,744
0.00%
10.00%
35,789,356
196,716,932

707,018
0.00%
15.00%
36,472,843
165,250,062

813,071
0.00%
0.00%
10,998,418
192,114,856

42.09%
3.76%
3.21%
0.19%
1.31%
1.78%
57.91%
12.80
28.04%
2.18
0.95

40.05%
3.56%
8.12%
0.42%
1.03%
2.41%
59.95%
4.45
28.39%
2.71
2.11

35.85%
3.18%
6.20%
0.29%
0.71%
2.22%
64.15%
6.35
26.53%
3.55
1.43

30.73%
2.93%
10.28%
0.50%
0.88%
2.41%
69.27%
3.58
24.80%
2.91
2.41

29.10%
2.67%
7.25%
0.36%
1.22%
1.91%
70.90%
5.22
25.37%
2.14
1.59

9.69%
17.30%
62.48%
81.32%
93.71%
83.39%
76.47%

10.91%
26.30%
53.09%
80.96%
94.11%
71.70%
65.55%

8.37%
32.44%
48.54%
81.30%
94.91%
65.82%
59.84%

9.42%
38.87%
43.83%
84.77%
94.80%
57.42%
54.21%

9.43%
41.15%
40.69%
86.90%
94.39%
53.06%
51.65%

8.36%
7.88%
97.13%
36.98%
94.21%

12.01%
8.53%
134.65%
23.15%
71.05%

12.82%
9.29%
145.74%
19.40%
72.47%

14.13%
9.96%
142.56%
10.63%
70.49%

16.28%
11.75%
149.09%
14.08%
72.13%

5.84%
16.80
29.65
13.93

5.18%
8.10
25.95
15.64

4.71%
13.27
23.06
17.27

4.82%
9.96
23.46
17.58

5.04%
10.80
21.88
17.26

6.72

34.50

38.92

21.39

8.53

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

39

Financial Statement Analysis of Financial Sector

BANK AL-HABIB LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

9,967,204
4,785,388
3,062,830
2,118,986
1,665,205
165,690,582
2,232,334
12,369,743
144,389,563
6,698,942
177,322,991
11,936,275
3,621,152
295,396
48,234,497
101,402,372
862,550
1,205,376
100,196,996
9,166,020
3,872,655

12,286,874
6,101,370
3,664,925
2,520,579
1,818,084
235,701,642
3,187,383
33,517,109
189,280,062
9,717,088
249,806,600
14,377,589
4,626,726
0
111,017,701
108,373,012
2,067,656
2,387,693
105,985,319
9,561,955
4,237,310

14,744,106
7,321,643
4,392,264
3,030,199
1,472,677
285,579,563
2,989,989
22,579,348
249,760,885
10,249,341
301,796,346
19,000,990
2,132,806
1,139,268
137,234,656
129,083,773
2,943,863
3,310,481
125,773,292
10,264,310
6,251,024

17,878,659
8,785,972
5,324,689
3,767,998
2,132,629
364,514,326
4,979,720
43,441,594
302,097,187
13,995,825
384,525,614
22,957,988
6,744,643
0
223,105,101
119,994,310
3,203,630
5,131,178
114,863,132
10,791,345
6,063,405

21,283,639
10,103,868
6,464,546
4,715,225
2,894,776
429,175,527
5,257,191
69,622,055
340,386,558
13,909,723
453,353,942
27,464,345
9,747,248
993,981
249,923,504
153,453,820
3,705,730
5,593,992
147,859,828
11,211,423
6,153,613

14,586,841
8,004,294
6,582,547
1,149,345
5,433,202
2,416,304
4,374,426
4,306,759
3,578,532
2,425,016

22,120,105
13,053,137
9,066,968
1,183,026
7,883,942
1,836,082
5,207,953
5,045,731
4,512,071
2,856,294

27,480,798
16,666,489
10,814,309
946,451
9,867,858
2,187,640
6,331,063
6,225,457
5,724,435
3,667,980

36,529,237
22,372,988
14,156,249
1,820,779
12,335,470
2,607,806
7,784,283
7,621,965
7,158,993
4,537,104

41,474,034
26,105,028
15,369,006
466,087
14,902,918
3,058,834
9,032,511
9,032,511
8,929,242
5,510,520

478,538
12.50%
27.50%
16,856,703
59,797,421

610,137
20.00%
20.00%
65,727,310
63,417,914

732,164
20.00%
20.00%
30,127,758
60,004,910

878,597
25.00%
15.00%
94,364,848
106,642,467

1,010,387
30.00%
36,872,715
107,919,532

45.13%
3.71%
24.33%
1.37%
1.36%
3.06%
54.87%
1.20
25.73%
1.78
5.07

40.99%
3.63%
23.25%
1.14%
0.74%
3.16%
59.01%
1.12
21.74%
2.75
4.68

39.35%
3.58%
24.88%
1.22%
0.72%
3.27%
60.65%
1.09
21.34%
2.85
5.01

38.75%
3.68%
25.38%
1.18%
0.68%
3.21%
61.25%
1.06
19.89%
2.92
5.16

37.06%
3.39%
25.89%
1.22%
0.67%
3.29%
62.94%
1.01
20.28%
2.95
5.45

8.77%
27.20%
56.51%
81.43%
93.44%
70.23%
64.69%

7.61%
44.44%
42.43%
75.77%
94.35%
57.26%
48.64%

7.00%
45.47%
41.67%
82.76%
94.63%
51.68%
47.40%

7.72%
58.02%
29.87%
78.56%
94.80%
39.72%
34.73%

8.21%
55.13%
32.61%
75.08%
94.67%
45.08%
37.43%

0.85%
1.19%
8.65%
95.35%
139.75%

1.91%
2.20%
16.83%
49.55%
115.48%

2.28%
2.56%
19.97%
28.59%
112.45%

2.67%
4.28%
17.92%
35.48%
160.17%

2.41%
3.65%
17.41%
8.33%
150.96%

5.62%
6.00
20.83
14.49

4.92%
5.16
20.14
15.41

4.89%
4.07
20.14
16.94

4.65%
5.96
20.35
16.90

4.69%
5.07
21.06
15.99

6.95

23.01

8.21

20.80

6.69

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

40

Financial Statement Analysis of Financial Sector

BANK ALFALAH LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

14,608,523
7,995,000
3,166,056
3,447,467
2,436,216
331,946,025
3,452,031
13,690,222
300,732,858
14,070,914
348,990,764
32,687,335
21,581,043
3,315,500
75,973,238
197,931,671
0
6,140,683
191,790,988
13,773,293
9,869,367

17,055,606
13,491,563
3,587,969
(23,926)
4,626,589
367,612,072
3,766,144
20,653,921
324,743,389
18,448,618
389,294,267
35,056,025
22,722,927
14,947,435
99,279,438
196,802,164
15,585,716
8,780,672
188,021,492
14,552,454
14,714,496

17,238,003
13,491,563
3,819,133
(72,693)
4,410,008
390,155,871
4,521,533
13,700,124
354,010,690
17,923,524
411,803,882
41,197,841
16,180,533
6,497,556
113,622,561
217,822,143
17,710,312
10,670,089
207,152,054
14,251,595
12,901,742

22,839,886
13,491,563
4,100,264
5,248,059
2,937,152
442,396,764
5,403,453
18,168,978
401,245,675
17,578,658
468,173,802
50,882,662
17,424,524
7,765,407
166,648,636
211,397,355
19,096,614
12,928,843
198,468,512
13,388,683
13,595,378

25,689,740
13,491,563
5,636,549
6,561,628
4,557,662
506,219,292
8,430,910
21,227,834
457,118,723
19,441,825
536,466,694
58,044,054
26,720,993
876,870
189,486,762
248,345,992
22,181,548
14,412,634
233,933,358
13,747,520
13,657,137

30,966,638
20,494,355
10,472,283
3,543,357
6,928,926
4,822,924
9,957,130
9,805,790
1,794,720
1,301,301

35,554,930
24,709,878
10,845,052
3,451,912
7,393,140
5,202,233
11,346,473
11,009,954
437,664
(97,904)

37,530,398
23,854,578
13,675,820
2,411,846
11,263,974
4,903,726
12,835,658
12,658,021
2,065,110
1,166,983

44,298,178
25,687,485
18,610,693
4,329,500
14,281,193
5,367,713
14,215,188
13,832,096
5,433,716
5,948,685

46,079,918
27,500,056
18,579,862
3,558,532
15,021,330
7,281,340
15,519,468
15,204,036
6,783,202
4,556,121

799,500
0.00%
12.50%
2,499,606
121,702,262

1,349,156
8.00%
0.00%
19,947,703
159,052,924

1,349,156
0.00%
0.00%
18,101,276
179,210,913

1,349,156
17.50%
0.00%
53,536,423
189,279,494

1,349,156
20.00%
0.00%
49,944,024
124,627,168

33.82%
3.00%
8.91%
0.37%
1.38%
1.99%
66.18%
5.46
27.82%
2.03
1.63

30.50%
2.79%
-0.57%
-0.03%
1.34%
1.90%
69.50%
25.16
27.84%
2.12
-0.07

36.44%
3.32%
6.77%
0.28%
1.19%
2.74%
63.56%
6.13
30.25%
2.58
0.86

42.01%
3.98%
26.05%
1.27%
1.15%
3.05%
57.99%
2.55
28.62%
2.58
4.41

40.32%
3.46%
17.74%
0.85%
1.36%
2.80%
59.68%
2.24
29.08%
2.09
3.38

15.55%
21.77%
54.96%
86.17%
95.12%
65.82%
62.95%

14.84%
25.50%
48.30%
83.42%
94.43%
60.60%
56.98%

13.93%
27.59%
50.30%
85.97%
94.74%
61.53%
59.24%

14.59%
35.60%
42.39%
85.70%
94.49%
52.69%
50.40%

15.80%
35.32%
43.61%
85.21%
94.36%
54.33%
51.92%

0.00%
3.10%
0.00%
57.70%

7.92%
4.46%
91.38%
39.31%
56.34%

8.13%
4.90%
102.74%
22.60%
60.25%

9.03%
6.12%
83.61%
33.49%
67.70%

8.93%
5.80%
86.34%
24.69%
64.98%

4.19%
8.33
18.27
20.59

4.38%
9.33
12.64
19.04

4.19%
10.40
12.78
20.54

4.88%
8.29
16.93
17.57

4.79%
4.85
19.04
17.79

1.92

-203.75

15.51

9.00

10.96

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

41

Financial Statement Analysis of Financial Sector

BANKISLAMI PAKISTAN LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,181,372
5,279,679
0
(98,307)
10,449
13,896,779
353,646
245,939
12,477,955
819,239
19,088,600
2,175,413
2,207,490
40,351
5,019,525
6,687,460
186,093
159,929
6,527,531
1,910,648
1,207,642

4,690,622
5,279,679
0
(589,057)
29,776
29,472,124
485,608
156,160
27,911,651
918,705
34,192,522
4,217,520
2,059,808
4,018,813
6,653,447
10,707,012
788,665
249,709
10,457,303
2,375,515
4,410,116

4,734,004
5,279,679
9,310
(554,985)
32,382
40,269,317
563,020
353,000
38,198,320
1,154,977
45,035,703
3,035,148
569,622
4,513,132
13,732,132
19,894,682
741,680
328,972
19,565,710
2,066,680
1,553,279

5,143,560
5,279,679
91,221
(227,340)
169,078
53,508,676
798,853
800,000
50,568,785
1,341,038
58,821,314
4,684,826
549,277
4,436,264
21,067,082
25,054,954
838,101
389,495
24,665,459
1,811,628
1,606,778

5,554,413
5,279,679
173,392
101,342
18,041
68,663,576
1,251,010
1,621,415
64,216,485
1,574,666
74,236,030
4,938,707
806,110
8,475,672
28,994,462
27,933,829
1,205,222
500,567
27,433,262
1,913,106
1,674,711

1,468,688
729,528
739,160
130,556
608,604
196,139
229,152
1,028,232
(229,152)
(52,930)

2,181,887
1,215,019
966,868
111,198
855,670
342,687
1,770,664
170,047
(572,307)
(483,598)

3,809,955
2,049,453
1,760,502
5,247
1,755,255
207,168
1,920,590
1,897,405
41,833
41,159

5,502,154
2,883,355
2,618,799
60,523
2,558,276
226,709
2,176,398
2,139,128
608,587
409,556

5,975,306
3,506,965
2,468,341
96,072
2,372,269
533,932
2,279,759
2,271,642
626,442
410,853

527,968
0.00%
0.00%
1,109,403
1,751,914

527,968
0.00%
0.00%
4,472,916
1,439,984

527,968
0.00%
0.00%
4,261,151
4,467,998

527,968
0.00%
0.00%
8,826,592
4,614,660

527,968
0.00%
0.00%
9,052,857
7,391,771

50.33%
3.87%
-1.02%
-0.28%
1.03%
3.19%
49.67%
-4.49
13.76%
5.24
-0.10

44.31%
2.83%
-10.31%
-1.41%
1.00%
2.50%
55.69%
-0.30
70.14%
0.50
-0.92

46.21%
3.91%
0.87%
0.09%
0.46%
3.90%
53.79%
45.36
47.81%
9.16
0.08

47.60%
4.45%
7.96%
0.70%
0.39%
4.35%
52.40%
3.51
37.99%
9.44
0.78

41.31%
3.32%
7.40%
0.55%
0.72%
3.20%
58.69%
3.63
35.02%
4.25
0.78

22.96%
26.30%
34.20%
65.37%
72.80%
53.59%
52.56%

18.36%
19.46%
30.58%
81.63%
86.19%
38.36%
38.15%

8.00%
30.49%
43.44%
84.82%
89.42%
52.08%
51.61%

8.90%
35.82%
41.93%
85.97%
90.97%
49.55%
48.77%

7.74%
39.06%
36.95%
86.50%
92.49%
43.50%
42.43%

2.78%
2.39%
3.59%
81.63%
85.94%

7.37%
2.33%
16.81%
44.53%
31.66%

3.73%
1.65%
15.67%
1.59%
44.35%

3.35%
1.55%
16.29%
15.54%
46.47%

4.31%
1.79%
21.70%
19.19%
41.53%

27.14%
0.34
9.81
2.41

13.72%
0.31
8.88
5.95

10.51%
0.94
8.97
8.07

8.74%
0.90
9.74
9.83

7.48%
1.33
10.52
11.56

-20.96

-9.25

103.53

21.55

22.03

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

42

Financial Statement Analysis of Financial Sector

BURJ BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

4,085,091
4,001,333
16,751
67,007
(10,281)
5,406,327
20,138
50,704
5,063,393
272,092
9,481,137
418,948
255,703
250,040
2,045,146
5,645,609
50,000
5,732
5,639,877
417,364
454,059

4,801,589
5,010,458
16,751
(225,620)
40,191
8,166,895
58,263
1,094,375
6,784,750
229,507
13,008,675
675,988
577,349
2,857,942
2,861,751
5,001,443
731,740
237,821
4,763,622
600,626
671,397

4,266,067
5,010,458
16,751
(761,142)
59,916
13,349,703
86,867
287,291
12,636,083
339,462
17,675,686
1,324,461
400,468
2,679,753
5,050,878
6,236,849
1,153,118
620,647
5,616,202
646,645
1,957,279

5,777,579
7,410,458
16,751
(1,649,630)
26,999
21,851,637
210,932
447,300
20,341,241
852,164
27,656,215
1,379,696
2,215,636
0
9,982,793
13,233,151
1,020,934
802,014
12,431,137
671,890
975,063

5,864,255
7,410,458
2,030
(1,548,233)
73,226
41,247,971
390,795
3,087,150
35,922,038
1,847,988
47,185,452
2,452,464
907,255
0
17,156,398
24,077,313
1,029,984
706,781
23,370,532
1,130,246
2,168,557

855,374
403,500
451,874
3,875
447,999
494,273
434,161
433,996
60,111
32,727

1,131,873
650,752
481,121
257,089
224,032
56,818
686,002
685,677
(405,152)
(292,627)

1,263,461
726,325
537,136
406,279
130,857
64,260
1,019,677
986,592
(824,560)
(535,522)

2,375,585
1,423,171
952,414
251,580
700,834
188,537
1,236,279
1,229,345
(346,908)
(288,488)

3,603,352
2,594,187
1,009,165
(173,859)
1,183,024
456,150
1,605,828
1,613,203
33,346
84,646

400,133
0.00%
0.00%
660,132
2,217,021

501,046
0.00%
0.00%
654,955
1,911,426

501,046
0.00%
0.00%
2,667,586
5,704,888

741,046
0.00%
0.00%
5,394,077
1,296,300

741,046
0.00%
0.00%
7,024,807
3,709,955

52.83%
4.77%
0.80%
0.35%
5.21%
4.73%
47.17%
7.22
32.17%
0.88
0.08

42.51%
3.70%
-6.09%
-2.25%
0.44%
1.72%
57.49%
-1.69
57.71%
12.07
-0.58

42.51%
3.04%
-12.55%
-3.03%
0.36%
0.74%
57.49%
-1.20
76.80%
15.35
-1.07

40.09%
3.44%
-4.99%
-1.04%
0.68%
2.53%
59.91%
-3.54
48.21%
6.52
-0.39

28.01%
2.14%
1.44%
0.18%
0.97%
2.51%
71.99%
48.38
39.56%
3.54
0.11

7.12%
21.57%
59.49%
53.40%
57.02%
111.50%
110.39%

9.63%
22.00%
36.62%
52.16%
62.78%
73.72%
63.48%

9.76%
28.58%
31.77%
71.49%
75.53%
49.36%
48.26%

13.00%
36.10%
44.95%
73.55%
79.01%
65.06%
63.66%

7.12%
36.36%
49.53%
76.13%
87.42%
67.03%
61.72%

0.89%
0.10%
1.22%
67.60%
11.46%

14.63%
4.76%
15.24%
108.10%
32.50%

18.49%
9.95%
27.03%
65.46%
53.82%

7.71%
6.06%
17.67%
31.37%
78.56%

4.28%
2.94%
17.56%
-24.60%
68.62%

43.09%
0.54
10.21
1.24

36.91%
0.40
9.58
1.41

24.14%
1.34
8.51
2.96

20.89%
0.22
7.80
3.52

12.43%
0.63
7.91
6.13

20.17

-2.24

-4.98

-18.70

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

43

82.99

Financial Statement Analysis of Financial Sector

DUBAI ISLAMIC BANK PAKISTAN LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,055,260
6,017,780
0
(962,520)
10,867
26,983,946
283,188
0
25,458,910
1,241,848
32,050,073
2,691,572
3,273,878
1,329,832
3,019,266
18,330,344
286,024
256,843
18,073,501
1,740,923
1,921,101

6,040,247
6,776,030
45,347
(781,130)
18
29,328,629
279,493
125,000
27,980,906
943,230
35,368,894
2,932,264
2,430,437
2,591,905
2,822,723
20,961,592
719,088
371,979
20,589,613
1,727,298
2,274,654

6,048,321
6,776,030
46,961
(774,670)
18
33,840,397
411,944
950,000
31,414,908
1,063,545
39,888,736
3,197,884
3,455,665
1,020,725
5,945,370
23,532,837
1,858,799
553,203
22,979,634
1,703,588
1,585,870

6,238,807
6,776,030
85,058
(622,281)
(4,758)
41,962,400
394,426
1,898,500
38,491,607
1,177,867
48,196,449
3,429,994
1,116,928
3,826,084
12,937,179
24,457,951
2,130,721
568,908
23,889,043
1,597,770
1,399,451

6,784,505
6,976,030
69,140
(260,665)
82,738
56,633,462
659,035
1,600,000
53,110,048
1,264,379
63,500,705
4,196,103
5,660,301
3,206,945
21,334,833
27,076,428
2,494,271
761,761
26,314,667
1,535,272
1,252,584

2,723,796
1,377,542
1,346,254
156,077
1,190,177
335,552
271,806
1,791,282
(271,806)
(181,822)

3,647,145
1,805,943
1,841,202
115,136
1,726,066
365,353
1,739,369
1,724,467
352,050
226,737

4,071,552
2,129,570
1,941,982
181,224
1,760,758
366,335
2,109,362
2,095,563
17,731
8,074

4,632,785
2,395,995
2,236,790
10,075
2,226,715
457,136
2,367,722
2,337,312
316,129
190,486

5,682,122
2,807,792
2,874,330
192,853
2,681,477
695,344
2,875,816
2,846,195
501,005
345,698

601,778
0.00%
0.00%
2,523,494
21,322,168

677,603
0.00%
0.00%
(1,285,767)
17,830,878

677,603
0.00%
0.00%
4,676,276
5,704,888

677,603
0.00%
0.00%
4,983,772
10,461,483

677,603
0.00%
0.00%
13,506,038
9,106,647

49.43%
4.20%
-3.60%
-0.57%
1.05%
3.71%
50.57%
-6.59
8.88%
5.34
-0.30

50.48%
5.21%
3.75%
0.64%
1.03%
4.88%
49.52%
4.90
43.35%
4.72
0.33

47.70%
4.87%
0.13%
0.02%
0.92%
4.41%
52.30%
118.19
47.53%
5.72
0.01

48.28%
4.64%
3.05%
0.40%
0.95%
4.62%
51.72%
7.39
46.52%
5.11
0.28

50.59%
4.53%
5.10%
0.54%
1.10%
4.22%
49.41%
5.68
45.09%
4.09
0.51

18.61%
9.42%
56.39%
79.43%
84.19%
72.00%
72.00%

15.16%
7.98%
58.21%
79.11%
82.92%
74.91%
74.58%

16.68%
14.90%
57.61%
78.76%
84.84%
74.91%
72.71%

9.43%
26.84%
49.57%
79.86%
87.07%
63.54%
60.55%

15.52%
33.60%
41.44%
83.64%
89.19%
50.98%
49.49%

1.56%
1.40%
5.66%
60.77%
89.80%

3.43%
1.77%
11.90%
30.95%
51.73%

7.90%
2.35%
30.73%
32.76%
29.76%

8.71%
2.33%
34.15%
1.77%
26.70%

9.21%
2.81%
36.76%
25.32%
30.54%

15.77%
4.22
8.40
5.04

17.08%
2.95
8.91
4.63

15.16%
0.94
8.93
5.19

12.94%
1.68
9.21
6.17

10.68%
1.34
10.01
7.83

-13.88

-5.67

579.18

26.16

39.07

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

44

Financial Statement Analysis of Financial Sector

FAYSAL BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

10,135,987
5,296,445
3,790,023
1,049,519
636,121
127,469,378
1,536,517
13,027,468
102,776,793
10,128,600
138,241,486
8,927,524
876,780
2,861,401
36,152,537
88,620,641
7,446,481
5,108,573
83,512,068
2,646,978
3,264,198

11,373,147
6,090,911
4,030,056
1,252,180
1,519,902
167,899,404
1,465,451
34,985,766
123,469,683
7,978,504
180,792,453
8,427,202
508,795
15,017,826
56,459,447
98,384,470
10,671,030
7,038,469
91,346,001
2,787,617
6,245,565

16,614,625
7,309,094
7,354,688
1,950,843
(96,855)
250,803,153
3,218,859
34,635,904
195,315,204
17,633,186
267,320,923
17,428,924
5,727,909
0
86,418,549
151,206,409
24,707,758
17,499,640
133,706,769
8,726,406
15,312,366

17,793,427
8,243,118
6,591,131
2,959,178
1,419,732
273,354,667
3,075,642
39,696,986
214,614,731
15,967,308
292,567,826
18,445,108
4,685,718
0
93,409,187
165,483,330
26,044,119
17,321,335
148,161,995
10,849,607
17,016,211

18,728,891
9,273,508
6,309,083
3,146,300
2,249,013
292,086,428
4,244,494
35,568,109
240,712,826
11,560,999
313,064,332
24,508,852
1,209,313
0
87,995,224
190,851,275
27,549,729
18,552,070
172,299,205
10,859,963
16,191,775

13,404,132
8,454,755
4,949,377
2,047,362
2,902,015
5,212,608
1,796,537
3,257,843
1,796,537
1,114,952

16,957,875
11,946,579
5,011,296
2,191,883
2,819,413
2,804,695
4,312,044
4,285,459
1,320,043
1,212,527

19,710,460
13,919,256
5,791,204
2,201,824
3,589,380
4,012,338
6,774,664
6,644,072
827,054
1,190,329

28,825,449
19,619,095
9,206,354
695,245
8,511,109
4,070,369
11,103,387
10,813,919
1,478,091
1,280,296

28,802,150
19,838,745
8,963,405
1,400,820
7,562,585
5,281,719
11,004,203
10,810,261
1,840,101
1,422,882

529,645
0.00%
15.00%
1,882,246
51,941,751

609,091
0.00%
0.00%
17,897,098
79,757,936

730,909
0.00%
20.00%
8,881,898
164,784,857

824,312
0.00%
12.50%
5,911,646
173,978,654

927,351
0.00%
12.50%
(4,766,930)
118,519,052

36.92%
3.58%
11.00%
0.81%
3.77%
2.10%
63.08%
1.81
9.65%
0.62
2.11

29.55%
2.77%
10.66%
0.67%
1.55%
1.56%
70.45%
3.25
21.82%
1.53
1.99

29.38%
2.17%
7.16%
0.45%
1.50%
1.34%
70.62%
8.03
28.56%
1.66
1.63

31.94%
3.15%
7.20%
0.44%
1.39%
2.91%
68.06%
7.32
33.75%
2.66
1.55

31.12%
2.86%
7.60%
0.45%
1.69%
2.42%
68.88%
5.87
32.29%
2.05
1.53

7.09%
26.15%
60.41%
74.35%
92.21%
86.23%
76.53%

4.94%
31.23%
50.53%
68.29%
92.87%
79.68%
62.09%

8.66%
32.33%
50.02%
73.06%
93.82%
77.42%
65.76%

7.91%
31.93%
50.64%
73.36%
93.43%
77.11%
65.07%

8.21%
28.11%
55.04%
76.89%
93.30%
79.29%
69.08%

8.40%
5.76%
73.47%
40.08%
68.60%

10.85%
7.15%
93.83%
31.14%
65.96%

16.34%
11.57%
148.71%
12.58%
70.83%

15.74%
10.47%
146.37%
4.01%
66.51%

14.44%
9.72%
147.10%
7.55%
67.34%

7.33%
5.12
19.14
10.14

6.29%
7.01
18.67
10.86

6.22%
9.92
22.73
11.76

6.08%
9.78
21.59
12.06

5.98%
6.33
20.20
12.85

1.69

14.76

7.46

4.62

-3.35

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

45

Financial Statement Analysis of Financial Sector

HABIB BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

61,290,814
7,590,000
22,882,318
30,818,496
3,753,597
652,237,599
9,781,077
44,022,676
572,399,187
26,034,659
717,282,010
56,359,367
32,720,391
6,193,787
127,786,754
460,244,672
36,086,044
24,536,012
435,708,660
33,490,506
25,022,545

75,133,715
9,108,000
27,527,380
38,498,335
9,236,083
779,554,995
10,041,542
52,542,978
682,750,079
34,220,396
863,924,793
79,839,836
40,366,687
5,352,873
216,467,532
490,010,583
49,438,255
35,348,084
454,662,499
16,766,668
50,468,698

86,842,059
10,018,800
29,355,555
47,467,704
9,408,712
828,448,632
9,775,093
40,459,860
747,374,799
30,838,880
924,699,403
81,640,246
37,413,185
30,339,344
254,909,116
502,445,637
53,607,643
42,695,625
459,750,012
16,155,290
44,492,210

100,147,132
11,020,680
32,145,755
56,980,697
9,439,856
1,029,967,217
13,894,502
39,473,670
933,631,525
42,967,520
1,139,554,205
103,399,623
47,349,505
41,581,029
418,604,147
503,453,704
56,549,062
46,086,048
457,367,656
19,167,654
52,084,591

119,025,317
12,122,748
39,379,354
67,523,215
14,012,443
1,477,270,812
18,943,207
196,580,548
1,214,963,700
46,783,357
1,610,308,572
157,229,517
47,980,032
24,828,255
797,094,548
545,788,112
56,236,494
45,970,206
499,817,906
23,632,324
59,725,990

61,157,813
25,523,572
35,634,241
9,295,235
26,339,006
10,336,517
20,820,329
20,253,578
5,855,194
10,000,980

76,076,347
33,405,813
42,670,534
9,089,659
33,580,875
11,159,612
23,358,851
22,745,955
21,381,636
13,400,749

81,325,028
34,330,255
46,994,773
7,585,664
39,409,109
12,762,431
25,131,510
24,252,960
27,040,030
17,034,380

98,580,423
42,182,220
56,398,203
6,925,497
49,472,706
14,782,861
29,934,169
29,433,961
34,321,398
22,333,022

116,772,653
59,012,392
57,760,261
6,767,037
50,993,224
15,960,106
32,062,123
31,061,370
34,891,207
22,355,740

759,000
55.00%
20.00%
(21,380,958)
296,820,275

910,800
60.00%
10.00%
107,753,133
358,083,924

1,001,880
65.00%
10.00%
42,055,186
253,403,791

1,102,068
70.00%
10.00%
206,730,148
572,908,009

1,212,275
75.00%
10.00%
404,298,555
584,090,071

58.27%
4.97%
16.32%
1.39%
1.44%
3.67%
41.73%
3.46
29.12%
1.96
13.18

56.09%
4.94%
17.84%
1.55%
1.29%
3.89%
43.91%
1.06
26.78%
2.04
14.71

57.79%
5.08%
19.62%
1.84%
1.38%
4.26%
42.21%
0.90
26.71%
1.90
17.00

57.21%
4.95%
22.30%
1.96%
1.30%
4.34%
42.79%
0.86
26.41%
1.99
20.26

49.46%
3.59%
18.78%
1.39%
0.99%
3.17%
50.54%
0.89
24.16%
1.95
18.44

12.42%
17.82%
60.74%
79.80%
90.93%
80.41%
74.66%

13.91%
25.06%
52.63%
79.03%
90.23%
71.77%
66.64%

12.87%
27.57%
49.72%
80.82%
89.59%
67.23%
63.78%

13.23%
36.73%
40.14%
81.93%
90.38%
53.92%
51.74%

12.74%
49.50%
31.04%
75.45%
91.74%
44.92%
38.67%

7.84%
5.33%
58.88%
37.88%
67.99%

10.09%
7.21%
65.80%
25.71%
71.50%

10.67%
8.50%
61.73%
17.77%
79.64%

11.23%
9.15%
56.47%
15.03%
81.50%

10.30%
8.42%
47.25%
14.72%
81.74%

8.54%
4.84
80.75
9.34

8.70%
4.77
82.49
9.09

9.39%
2.92
86.68
8.61

8.79%
5.72
90.87
9.32

7.39%
4.91
98.18
10.21

-2.14

8.04

2.47

9.26

18.08

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

46

Financial Statement Analysis of Financial Sector

HABIB METROPOLITAN BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

16,149,648
6,022,020
7,039,936
3,087,692
(1,144,998)
167,706,203
2,372,146
30,372,598
128,432,616
6,528,843
182,710,853
11,401,384
2,974,237
98,176
53,631,532
110,391,364
1,747,599
2,130,105
108,261,259
1,583,360
4,760,905

18,900,286
7,527,525
7,587,835
3,784,926
(148,629)
218,406,844
3,111,467
68,186,674
142,185,495
4,923,208
237,158,501
11,192,498
4,836,399
150,000
111,679,520
106,922,608
6,364,665
4,629,476
102,293,132
2,465,977
4,540,975

20,956,902
8,731,929
8,151,443
4,073,530
(646,585)
231,820,564
2,572,954
62,529,729
160,314,211
6,403,670
252,130,881
13,923,393
3,123,094
3,190,399
100,849,146
127,350,007
7,463,452
7,522,371
119,827,636
3,387,452
7,829,761

24,246,101
10,478,315
8,807,718
4,960,068
335,268
263,619,288
3,733,794
66,641,226
185,281,216
7,963,052
288,200,657
14,233,690
3,551,591
2,361,754
147,459,163
119,679,648
15,427,848
10,022,934
109,656,714
3,230,658
7,707,087

26,067,383
10,478,315
9,488,277
6,100,791
2,186,254
272,486,173
4,092,268
41,569,169
217,670,832
9,153,904
300,739,810
16,918,780
5,151,149
0
160,733,315
119,299,723
17,729,487
12,388,996
106,910,727
3,000,827
8,025,012

15,870,172
10,919,922
4,950,250
1,249,820
3,700,430
3,928,506
3,233,784
3,086,634
4,740,110
3,277,377

21,376,259
14,636,228
6,740,031
2,569,646
4,141,160
3,713,321
3,656,972
3,550,647
4,226,734
2,746,563

23,281,800
16,407,604
6,874,196
3,041,548
3,832,648
4,429,981
4,335,039
4,199,115
4,027,590
2,809,369

27,263,385
19,536,154
7,727,231
2,754,602
4,972,629
5,199,463
5,527,286
4,949,323
4,644,806
3,289,199

27,154,883
18,821,766
8,333,117
2,693,747
5,639,370
5,457,669
6,059,044
5,775,358
5,037,995
3,393,029

602,202
0.00%
25.00%
(6,265,387)
80,361,851

752,753
10.00%
16.00%
58,187,921
116,806,754

873,193
0.00%
20.00%
(6,943,837)
200,438,547

1,047,831
15.00%
0.00%
44,258,963
200,438,547

1,047,831
20.00%
0.00%
17,498,743
127,978,834

31.19%
2.71%
20.29%
1.79%
2.15%
2.03%
68.81%
0.65
16.33%
0.79
5.44

31.53%
2.84%
14.53%
1.16%
1.57%
1.75%
68.47%
0.84
14.58%
0.96
3.65

29.53%
2.73%
13.41%
1.11%
1.76%
1.52%
70.47%
1.04
15.64%
0.95
3.22

28.34%
2.68%
13.57%
1.14%
1.80%
1.73%
71.66%
1.07
17.03%
0.95
3.14

30.69%
2.77%
13.02%
1.13%
1.81%
1.88%
69.31%
1.15
18.58%
1.06
3.24

7.87%
29.35%
59.25%
70.29%
91.79%
85.95%
69.51%

6.76%
47.09%
43.13%
59.95%
92.09%
75.20%
50.83%

6.76%
40.00%
47.53%
63.58%
91.94%
79.44%
57.15%

6.17%
51.17%
38.05%
64.29%
91.47%
64.59%
47.51%

7.34%
53.45%
35.55%
72.38%
90.61%
54.81%
46.02%

1.58%
1.93%
10.82%
58.67%
121.89%

5.95%
4.33%
33.67%
55.51%
72.74%

5.86%
5.91%
35.61%
40.43%
100.79%

12.89%
8.37%
63.63%
27.48%
64.97%

14.86%
10.38%
68.01%
21.74%
69.88%

8.84%
4.98
26.82
7.95

7.97%
6.18
25.11
7.52

8.31%
9.56
24.00
7.65

8.41%
8.27
23.14
7.64

8.67%
4.91
24.88
8.35

-1.91

21.19

-2.47

13.46

5.16

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

47

Financial Statement Analysis of Financial Sector

JS BANK LIMITED
Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,784,628
5,694,844
18,040
71,744
(508,791)
16,351,965
127,922
537,655
15,294,273
392,115
21,627,802
1,285,247
672,271
1,405,210
5,138,709
9,810,093
455,504
129,644
9,680,449
2,496,883
949,033

5,622,453
6,127,605
18,040
(523,192)
32,106
27,240,361
320,492
5,039,635
21,313,791
566,443
32,894,920
1,764,403
1,820,857
3,482,564
9,535,555
12,167,220
857,059
477,567
11,689,653
3,039,329
1,562,559

7,237,084
8,149,715
18,040
(930,671)
(1,398,798)
33,545,361
369,620
5,524,410
26,276,328
1,375,003
39,383,647
2,298,806
917,802
3,643,360
13,701,699
14,505,537
1,902,566
527,424
13,978,113
2,882,941
1,960,926

8,809,116
10,002,930
89,978
(1,283,792)
(28,080)
45,721,589
1,246,994
3,171,800
40,174,351
1,128,444
54,502,625
3,880,782
165,067
3,803,022
22,906,646
18,543,633
2,776,895
513,749
18,029,884
3,064,883
2,652,341

10,651,892
10,724,643
231,613
(304,364)
283,046
73,083,839
713,747
8,704,685
61,934,787
1,730,620
84,018,777
5,027,942
1,193,864
3,740,958
47,884,719
20,880,638
3,037,264
971,253
19,909,385
3,412,167
2,849,742

1,975,203
1,361,738
613,465
11,218
602,247
492,345
983,367
982,624
111,225
54,770

2,527,295
1,806,709
720,586
772,688
(52,102)
339,470
1,736,161
1,734,815
(1,448,793)
(594,936)

3,299,767
2,255,014
1,044,753
136,484
908,269
332,974
1,863,793
1,846,840
(622,550)
(407,479)

4,319,252
2,583,678
1,735,574
151,199
1,886,773
769,937
2,119,374
2,111,534
537,336
361,645

6,168,310
3,731,733
2,436,577
(529,928)
2,966,505
2,148,184
2,864,677
2,892,734
1,190,156
819,833

569,484
0.00%
0.00%
403,176
1,260,563

612,761
0.00%
0.00%
6,268,544
10,400,433

814,972
0.00%
0.00%
1,760,620
7,898,774

1,000,293
0.00%
0.00%
3,527,847
7,820,884

1,072,464
0.00%
0.00%
29,237,117
10,993,558

31.06%
2.84%
0.95%
0.25%
2.28%
2.78%
68.94%
8.83
39.85%
2.00
0.10

28.51%
2.19%
-10.58%
-1.81%
1.03%
-0.16%
71.49%
-1.20
60.56%
5.11
-0.97

31.66%
2.65%
-5.63%
-1.03%
0.85%
2.31%
68.34%
-2.97
51.31%
5.55
-0.50

40.18%
3.18%
4.11%
0.66%
1.41%
3.46%
59.82%
3.93
41.64%
2.74
0.36

39.50%
2.90%
7.70%
0.98%
2.56%
3.53%
60.50%
2.43
34.45%
1.35
0.76

9.05%
23.76%
44.76%
70.72%
75.61%
64.14%
61.96%

10.90%
28.99%
35.54%
64.79%
82.81%
57.09%
46.17%

8.17%
34.79%
35.49%
66.72%
85.18%
55.20%
45.61%

7.42%
42.03%
33.08%
73.71%
83.89%
46.16%
42.78%

7.41%
56.99%
23.70%
73.72%
86.99%
33.71%
29.56%

4.64%
1.32%
7.87%
8.65%
28.46%

7.04%
3.93%
15.24%
161.80%
55.72%

13.12%
3.64%
26.29%
25.88%
27.72%

14.97%
2.77%
31.52%
29.43%
18.50%

14.55%
4.65%
28.51%
-54.56%
31.98%

26.75%
0.22
10.16
2.64

17.09%
1.85
9.18
3.79

18.38%
1.09
8.88
3.63

16.16%
0.89
8.81
4.56

12.68%
1.03
9.93
5.81

-10.54

-4.32

9.76

35.66

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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


7.36

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

48

Financial Statement Analysis of Financial Sector

KASB BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

3,191,389
4,014,890
151,287
(974,788)
6,008,118
42,599,591
217,520
6,300,622
35,087,477
993,972
51,799,098
1,507,632
59,093
556,455
9,454,149
35,164,850
7,354,408
2,924,654
32,240,196
2,909,213
5,072,360

4,363,093
9,508,617
151,287
(5,296,811)
1,053,728
55,582,766
386,066
8,696,140
43,807,061
2,693,499
60,999,587
2,851,783
235,121
2,804,596
13,580,973
34,054,696
7,355,353
4,138,250
29,916,446
4,027,676
7,582,992

1,940,292
9,508,617
162,727
(7,731,052)
1,037,423
55,863,821
541,041
6,636,645
46,694,675
1,991,460
58,841,536
3,272,624
360,306
40,000
12,859,540
35,520,314
9,617,879
5,310,930
30,209,384
4,541,778
7,557,904

9,413,468
19,508,617
30,839
(10,125,988)
(5,886,596)
69,663,886
891,579
4,607,205
61,993,604
2,171,498
73,190,758
4,822,751
10,930,425
622,683
15,588,703
35,245,477
12,138,602
5,858,803
29,386,674
4,366,514
7,473,008

8,635,706
19,508,617
53,116
(10,926,027)
(5,608,088)
87,250,008
877,827
21,245,349
62,600,058
2,526,774
90,277,626
4,766,966
2,039,237
352,947
39,968,886
38,380,915
13,868,789
7,291,235
31,089,680
3,703,959
8,355,951

4,861,400
4,448,440
412,960
2,223,938
(1,810,978)
615,591
1,787,364
1,759,032
(1,849,199)
(972,969)

5,120,943
5,569,707
(448,764)
1,971,290
(2,420,054)
1,111,457
3,058,379
2,796,425
(5,864,077)
(4,318,749)

5,158,566
5,169,142
(10,576)
1,307,259
(1,317,835)
971,501
3,016,905
2,989,039
(3,487,184)
(2,727,345)

4,711,888
5,196,408
484,520
284,941
769,461
955,050
3,257,947
2,805,265
(3,146,226)
(2,524,305)

6,594,769
4,252,011
2,342,758
1,781,849
560,909
1,454,480
3,877,476
3,142,427
(1,596,866)
(806,044)

401,489
0.00%
0.00%
(3,436,371)
14,966,219

950,862
0.00%
26.00%
9,162,534
18,276,636

950,862
0.00%
0.00%
(199,789)
21,047,073

1,950,862
0.00%
0.00%
11,029,923
39,795,348

1,950,862
0.00%
0.00%
15,231,484
53,022,230

8.49%
0.80%
-30.49%
-1.88%
1.19%
-3.50%
91.51%
-0.95
32.63%
2.86
-2.42

-8.76%
-0.74%
-98.98%
-7.08%
1.82%
-3.97%
108.76%
-0.48
49.07%
2.52
-4.54

-0.21%
-0.02%
-140.56%
-4.64%
1.65%
-2.24%
100.21%
-0.86
49.21%
3.08
-2.87

10.28%
-0.66%
-26.82%
-3.45%
1.30%
1.05%
110.28%
-0.89
57.49%
2.94
-1.29

35.52%
2.60%
-9.33%
-0.89%
1.61%
0.62%
64.48%
-1.97
48.17%
2.16
-0.41

3.02%
18.25%
62.24%
67.74%
82.24%
100.22%
84.96%

5.06%
22.26%
49.04%
71.82%
91.12%
77.74%
64.86%

6.17%
21.85%
51.34%
79.36%
94.94%
76.07%
66.60%

21.52%
21.30%
40.15%
84.70%
95.18%
56.85%
52.92%

7.54%
44.27%
34.44%
69.34%
96.65%
61.31%
45.78%

20.91%
8.32%
230.45%
76.04%
39.77%

21.60%
12.15%
168.58%
47.64%
56.26%

27.08%
14.95%
495.69%
24.61%
55.22%

34.44%
16.62%
128.95%
4.86%
48.27%

36.13%
19.00%
160.60%
24.44%
52.57%

6.16%
4.69
7.95
10.99

7.15%
4.19
4.59
10.04

3.30%
10.85
2.04
24.07

12.86%
4.23
4.83
6.59

9.57%
6.14
4.43
7.25

3.53

-2.12

0.07

-4.37

-18.90

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

49

Financial Statement Analysis of Financial Sector

MCB BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

52,244,865
6,282,768
36,768,765
9,193,332
6,191,189
385,179,850
10,551,468
22,663,840
330,181,624
21,782,918
443,615,904
39,631,172
4,043,100
4,100,079
96,631,874
272,847,325
56,462
10,711,855
262,135,470
17,263,733
19,810,476

63,120,371
6,911,045
38,387,656
17,821,670
9,192,909
439,428,598
8,201,090
44,662,088
367,581,075
18,984,345
511,741,878
38,774,871
6,077,354
3,000,000
169,484,647
269,721,034
23,238,723
16,472,769
253,248,265
18,099,010
23,057,731

71,225,105
7,602,150
40,164,526
23,458,429
10,774,022
488,482,736
10,265,537
25,684,593
431,295,499
21,237,107
570,481,863
45,407,264
1,551,518
4,401,781
215,747,844
274,157,806
24,543,807
19,592,335
254,565,471
21,061,787
27,746,198

81,034,402
8,362,365
42,412,588
30,259,449
10,619,903
564,670,502
9,466,818
39,100,627
491,146,798
24,956,259
656,324,807
53,122,620
2,357,418
955,087
319,005,983
249,907,060
26,664,873
22,333,442
227,573,618
22,418,450
30,891,631

90,630,601
9,198,601
44,620,928
36,811,072
15,124,526
664,527,414
9,896,284
79,064,351
544,988,091
30,578,688
770,282,541
57,420,211
1,236,736
1,551,472
405,601,313
262,597,534
25,561,774
22,809,023
239,788,511
24,144,242
40,540,056

40,043,824
11,560,740
28,483,084
4,019,121
24,463,963
5,791,440
8,387,837
7,546,878
21,867,566
15,374,600

51,621,911
15,835,581
44,299,590
7,322,321
36,977,269
5,754,853
11,069,912
10,235,366
23,349,146
15,665,403

54,829,365
18,027,372
36,801,993
3,597,117
33,204,876
6,441,642
13,406,395
12,327,496
26,509,636
16,874,019

68,215,902
23,632,615
44,583,287
3,653,614
40,929,673
8,241,260
17,777,644
15,860,242
31,321,782
19,302,483

68,443,744
27,503,496
40,940,248
478,065
40,462,183
9,541,155
17,823,496
17,410,747
32,476,487
21,235,235

628,276
115.00%
10.00%
2,031,538
392,959,678

691,105
110.00%
10.00%
78,214,049
376,583,024

760,215
115.00%
10.00%
58,654,480
136,245,597

836,237
120.00%
10.00%
124,596,626
162,379,259

919,860
130.00%
10.00%
96,668,070
143,379,581

71.13%
6.42%
29.43%
3.47%
1.31%
5.51%
28.87%
0.35
18.30%
1.30
24.47

85.82%
6.99%
24.82%
3.06%
1.12%
7.23%
30.68%
0.44
19.29%
1.78
22.67

67.12%
6.45%
23.69%
2.96%
1.13%
5.82%
32.88%
0.47
21.88%
1.91
22.20

65.36%
6.79%
23.82%
2.94%
1.26%
6.24%
34.64%
0.51
23.25%
1.92
23.08

59.82%
5.31%
23.43%
2.76%
1.24%
5.25%
40.18%
0.54
22.86%
1.82
23.09

9.85%
21.78%
59.09%
74.43%
86.83%
82.64%
77.33%

8.76%
33.12%
49.49%
71.83%
85.87%
73.38%
65.43%

8.23%
37.82%
44.62%
75.60%
85.63%
63.57%
59.99%

8.45%
48.60%
34.67%
74.83%
86.04%
50.88%
47.13%

7.61%
52.66%
31.13%
70.75%
86.27%
48.18%
42.08%

0.02%
3.93%
0.11%
37.52%
18,971.80%

8.62%
6.11%
36.82%
44.45%
70.89%

8.95%
7.15%
34.46%
18.36%
79.83%

10.67%
8.94%
32.91%
16.36%
83.76%

9.73%
8.69%
28.20%
2.10%
89.23%

11.78%
7.52
83.16
6.32

12.33%
5.97
91.33
5.82

12.49%
1.91
93.69
6.06

12.35%
2.00
96.90
6.06

11.77%
1.58
98.53
6.01

0.13

4.99

3.48

6.45

4.55

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

50

Financial Statement Analysis of Financial Sector

MEEZAN BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

6,341,097
4,925,961
845,022
570,114
(366,119)
79,301,092
1,057,017
4,008,496
70,233,875
4,001,704
85,276,070
5,763,710
1,344,974
18,108,000
14,526,699
40,626,920
3,649,163
1,098,189
39,528,731
1,880,515
4,123,441

9,814,412
6,650,048
1,074,408
2,089,956
396,911
115,290,455
1,249,210
8,593,425
100,331,448
5,116,372
125,501,778
8,387,522
5,262,341
34,486,875
24,370,190
44,238,200
3,649,163
2,528,544
41,709,656
2,437,228
8,847,966

10,740,123
6,982,550
1,380,010
2,377,563
339,868
143,672,434
1,767,370
5,829,296
131,070,328
5,005,440
154,752,425
12,780,806
9,939,660
10,511,855
54,966,907
64,116,390
4,318,323
3,851,146
60,265,244
3,066,100
3,221,853

13,328,673
8,029,933
2,058,319
3,240,421
457,678
186,764,043
2,282,045
9,235,960
170,030,431
5,215,607
200,550,394
16,641,160
2,348,076
4,065,406
98,488,574
75,698,616
4,647,792
5,321,135
70,377,481
3,985,248
4,644,449

15,481,738
9,033,675
2,759,942
3,688,121
1,069,020
257,885,752
3,058,503
18,461,347
230,425,986
5,939,916
274,436,510
19,125,401
3,851,150
500,000
152,459,855
94,402,267
5,000,028
5,724,191
88,678,076
4,898,240
4,923,788

6,803,213
3,088,334
3,714,879
717,320
2,997,559
707,908
2,713,156
2,626,606
992,311
621,187

10,105,518
4,969,843
5,135,675
1,532,051
3,603,624
1,707,492
3,626,697
3,681,088
2,527,405
1,676,242

12,284,569
6,606,370
5,678,199
1,496,019
4,182,180
2,687,274
4,723,597
4,637,393
2,443,282
1,899,782

18,032,152
8,665,622
9,366,530
1,389,155
7,977,375
2,263,349
6,331,458
5,958,595
4,356,300
3,391,543

21,836,972
11,384,534
10,452,438
451,191
10,001,247
2,398,590
7,169,611
7,192,527
5,230,226
3,508,116

492,596
0.00%
8.60%
3,320,190
56,411,095

665,005
0.00%
5.00%
14,017,274
73,034,851

698,255
0.00%
15.00%
35,528,395
108,236,057

802,993
10.00%
12.50%
40,906,365
114,137,104

903,367
15.00%
11.00%
59,402,194
140,171,979

54.60%
4.36%
9.80%
0.73%
0.83%
3.52%
45.40%
2.65
36.12%
3.71
1.26

50.82%
4.09%
17.08%
1.34%
1.36%
2.87%
49.18%
1.46
30.70%
2.16
2.52

46.22%
3.67%
17.69%
1.23%
1.74%
2.70%
53.78%
1.90
31.55%
1.73
2.72

51.94%
4.67%
25.45%
1.69%
1.13%
3.98%
48.06%
1.37
31.20%
2.63
4.22

47.87%
3.81%
22.66%
1.28%
0.87%
3.64%
52.13%
1.38
29.58%
3.00
3.88

8.34%
17.03%
46.35%
82.36%
92.99%
57.85%
54.72%

10.88%
19.42%
33.23%
79.94%
91.86%
44.09%
40.61%

14.68%
35.52%
38.94%
84.70%
92.84%
48.92%
46.83%

9.47%
49.11%
35.09%
84.78%
93.13%
44.52%
42.23%

8.37%
55.55%
32.31%
83.96%
93.97%
40.97%
37.93%

8.98%
2.70%
57.55%
65.32%
30.09%

8.25%
5.72%
37.18%
60.59%
69.29%

6.74%
6.01%
40.21%
38.85%
89.18%

6.14%
7.03%
34.87%
26.11%
114.49%

5.30%
6.06%
32.30%
7.88%
114.48%

7.44%
8.90
12.87
11.08

7.82%
7.44
14.76
10.22

6.94%
10.08
15.38
12.20

6.65%
8.56
16.60
12.76

5.64%
9.05
17.14
14.88

5.34

8.36

18.70

12.06

16.93

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

51

Financial Statement Analysis of Financial Sector

NIB BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

29,006,672
28,437,271
8,326,684
(7,757,283)
10,691,836
139,210,607
1,432,084
23,651,366
104,586,167
9,540,990
178,909,115
9,355,104
793,843
12,459,621
35,176,823
97,322,481
16,715,515
16,978,288
80,344,193
3,702,426
37,077,105

41,643,272
40,437,271
8,464,894
(7,258,893)
(115,027)
166,590,718
1,574,207
62,523,365
93,919,805
8,573,341
208,118,963
8,834,275
3,683,783
5,681,887
62,432,977
100,000,757
15,746,457
15,979,351
84,021,406
3,114,632
40,350,003

7,892,204
40,437,271
8,464,894
(41,009,961)
5,992,736
150,672,126
1,335,493
42,361,934
99,111,741
7,862,958
164,557,066
8,836,474
2,952,593
6,429,166
50,209,083
98,362,123
34,711,468
23,778,539
74,583,584
2,751,703
18,794,463

59,912,879
103,028,512
218,276
(43,333,909)
(46,249,209)
141,161,341
1,738,422
47,382,031
85,472,247
6,568,641
154,825,011
7,969,044
1,486,560
14,666,918
47,786,041
84,489,211
34,194,582
23,627,698
60,861,513
2,722,863
19,332,072

60,170,163
103,028,512
225,889
(43,084,238)
(45,783,056)
176,468,070
2,430,030
76,179,065
81,094,447
16,764,528
190,855,177
7,672,866
956,809
3,440,910
83,802,727
94,879,760
32,921,495
23,293,864
71,585,896
275,051
23,120,918

15,201,691
10,799,816
4,401,875
9,657,400
(5,255,525)
2,421,876
8,164,241
6,433,122
(1,099,789)
(7,474,679)

18,272,363
12,872,357
5,400,006
1,195,329
4,204,677
1,681,833
5,242,439
5,345,307
644,071
691,048

16,482,767
13,467,526
3,015,241
10,041,017
(7,025,776)
1,933,774
7,336,960
7,055,824
(12,089,002)
(9,706,760)

14,250,121
12,155,613
2,094,508
2,549,789
455,281
1,976,884
5,064,890
4,823,582
(3,492,009)
(2,067,422)

13,989,306
11,125,821
2,863,485
116,981
2,746,504
2,395,490
5,397,479
5,331,398
440,488
262,080

2,843,727
0.00%
0.00%
21,302,169
93,144,827

4,043,727
0.00%
0.00%
28,507,068
123,505,187

4,043,727
0.00%
0.00%
(16,940,772)
152,511,924

10,302,851
0.00%
0.00%
(6,809,298)
142,890,225

10,302,851
0.00%
0.00%
33,535,245
77,754,924

28.96%
2.46%
-25.77%
-4.18%
1.35%
-2.94%
71.04%
-5.85
46.33%
2.66
-2.63

29.55%
2.59%
1.66%
0.33%
0.81%
2.02%
70.45%
8.30
26.27%
3.18
0.17

18.29%
1.83%
-122.99%
-5.90%
1.18%
-4.27%
81.71%
-0.58
39.84%
3.65
-2.40

14.70%
1.35%
-3.45%
-1.34%
1.28%
0.29%
85.30%
-1.38
31.21%
2.44
-0.20

20.47%
1.50%
0.44%
0.14%
1.26%
1.44%
79.53%
12.10
32.94%
2.23
0.03

5.67%
19.66%
44.91%
58.46%
77.81%
93.05%
75.89%

6.01%
30.00%
40.37%
45.13%
80.05%
106.47%
63.92%

7.16%
30.51%
45.32%
60.23%
91.56%
99.24%
69.53%

6.11%
30.86%
39.31%
55.21%
91.17%
98.85%
63.60%

4.52%
43.91%
37.51%
42.49%
92.46%
117.00%
60.33%

17.18%
17.45%
57.63%
56.88%
101.57%

15.75%
15.98%
37.81%
7.48%
101.48%

35.29%
24.17%
439.82%
42.23%
68.50%

40.47%
27.97%
57.07%
10.79%
69.10%

34.70%
24.55%
54.71%
0.50%
70.76%

16.21%
3.21
10.20
3.61

20.01%
2.97
10.30
2.26

4.80%
19.32
1.95
12.56

38.70%
2.38
5.82
1.43

31.53%
1.29
5.84
1.35

-2.85

41.25

1.75

3.29

127.96

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

52

Financial Statement Analysis of Financial Sector

SAMBA BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,476,330
8,769,517
43,080
(3,336,267)
(14,176)
11,025,182
55,349
437,949
9,859,537
672,347
16,487,336
774,575
331,201
2,313,308
3,829,354
8,605,889
1,961,143
2,442,881
6,163,008
1,157,689
1,918,201

4,883,277
8,769,517
43,080
(3,929,320)
2,192,383
16,658,466
78,127
3,141,284
12,520,633
918,422
23,734,126
961,280
707,912
3,123,377
5,807,829
12,343,360
2,726,295
2,619,949
9,723,411
1,112,169
2,298,148

7,936,255
14,334,734
43,080
(6,441,559)
(10,577)
22,585,442
115,759
6,534,994
14,871,806
1,062,883
30,511,120
1,250,011
1,195,948
1,389,003
11,090,905
14,747,321
2,711,299
2,609,535
12,137,786
1,001,413
2,446,054

8,172,770
14,334,734
90,383
(6,252,347)
9,497
23,148,705
529,005
3,996,032
17,669,297
954,371
31,330,972
1,463,306
59,384
803,459
9,663,613
18,374,905
2,619,410
2,543,578
15,831,327
903,608
2,606,275

8,473,656
14,334,734
150,561
(6,011,639)
42,227
26,337,954
250,709
2,477,466
22,753,644
856,135
34,853,837
2,052,832
2,289,653
2,777,162
8,894,957
17,842,935
2,451,481
2,398,159
15,444,776
832,375
2,562,082

1,758,004
1,071,307
686,697
312,528
374,169
125,429
1,511,039
1,461,077
(1,011,441)
(742,311)

1,878,626
1,208,857
669,769
239,511
430,258
92,224
1,590,906
1,415,235
(1,068,424)
(593,053)

2,384,653
1,350,320
1,034,333
17,599
1,016,734
321,243
1,468,273
1,456,873
(130,296)
(119,594)

3,352,186
1,943,845
1,408,341
46,204
1,454,545
152,397
1,406,048
1,393,321
200,894
236,515

3,054,034
1,721,825
1,332,209
(90,600)
1,422,809
154,505
1,413,280
1,458,244
164,034
300,886

876,952
0.00%
0.00%
4,073,848
30,569,856

876,952
0.00%
0.00%
6,840,004
14,557,877

1,433,473
0.00%
0.00%
5,087,251
17,205,195

1,433,473
0.00%
0.00%
(2,388,547)
29,978,957

1,433,473
0.00%
0.00%
2,027,886
11,344,410

39.06%
4.16%
-13.55%
-4.50%
0.76%
2.27%
60.94%
-1.44
80.23%
11.65
-0.85

35.65%
2.82%
-12.14%
-2.50%
0.39%
1.81%
64.35%
-1.32
80.72%
15.35
-0.68

43.37%
3.39%
-1.51%
-0.39%
1.05%
3.33%
56.63%
-11.18
54.26%
4.54
-0.08

42.01%
4.50%
2.89%
0.75%
0.49%
4.64%
57.99%
6.94
40.12%
9.14
0.16

43.62%
3.82%
3.55%
0.86%
0.44%
4.08%
56.38%
8.89
44.05%
9.44
0.21

6.71%
23.23%
37.38%
59.80%
66.87%
87.28%
83.57%

7.03%
24.47%
40.97%
52.75%
70.19%
98.58%
78.81%

8.02%
36.35%
39.78%
48.74%
74.02%
99.16%
68.89%

4.86%
30.84%
50.53%
56.40%
73.88%
103.99%
84.81%

12.46%
25.52%
44.31%
65.28%
75.57%
78.42%
70.72%

22.79%
28.39%
35.81%
12.79%
124.56%

22.09%
21.23%
55.83%
9.14%
96.10%

18.39%
17.69%
34.16%
0.67%
96.25%

14.26%
13.84%
32.05%
1.82%
97.10%

13.74%
13.44%
28.93%
-3.78%
97.82%

33.22%
5.58
6.24
1.80

20.57%
2.98
5.57
2.56

26.01%
2.17
5.54
1.87

26.09%
3.67
5.70
2.16

24.31%
1.34
5.91
2.69

-5.49

-11.53

-42.54

-10.10

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

53

6.74

Financial Statement Analysis of Financial Sector

SILKBANK LIMITED
Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

3,089,997
9,003,150
218,556
(6,131,709)
1,301,363
51,253,908
431,537
8,738,616
41,056,630
1,027,125
55,645,268
3,070,067
190,197
1,376,651
12,012,233
38,187,392
12,845,225
7,100,019
31,087,373
3,002,450
4,906,297

196,905
9,003,150
224,649
(9,030,894)
1,566,184
66,901,252
637,602
15,088,332
49,610,034
1,565,284
68,664,341
3,120,880
151,068
1,067,708
20,179,329
40,592,094
11,891,428
8,494,604
32,097,490
3,720,695
8,327,171

13,431,374
26,716,048
0
(13,284,674)
(8,597,427)
67,835,146
836,931
9,871,141
55,706,188
1,420,886
72,669,093
3,414,524
89,355
1,050,754
13,190,048
52,924,512
12,360,000
8,570,106
44,354,406
2,443,805
8,126,201

18,800,542
26,716,048
139,013
(8,054,519)
(13,162,035)
85,031,770
1,679,456
17,781,686
64,071,908
1,498,720
90,670,277
4,436,142
94,322
3,100,803
17,547,640
55,309,362
11,022,942
5,373,083
49,936,279
4,755,911
10,799,180

18,478,435
26,716,048
162,762
(8,400,375)
(13,124,650)
83,707,785
1,978,549
11,376,781
69,050,447
1,302,008
89,061,570
4,006,569
86,002
5,662,423
12,734,898
54,018,762
10,816,957
5,018,268
49,000,494
4,637,334
12,933,850

4,588,299
4,218,901
369,398
1,642,093
(1,272,695)
384,510
1,946,070
1,935,732
(2,834,255)
(2,014,268)

5,913,317
5,855,517
57,800
2,309,355
(2,251,555)
662,187
2,663,091
2,747,856
(4,252,459)
(2,902,905)

6,775,565
5,926,528
849,037
228,114
620,923
1,184,804
3,041,273
3,153,601
(1,235,546)
(1,131,154)

8,385,608
6,514,770
1,870,838
2,629,853
4,500,691
846,586
3,988,359
3,779,045
1,358,918
695,063

8,583,566
6,681,338
1,902,228
(580,489)
2,482,717
1,064,666
4,076,652
4,213,559
(529,269)
(344,271)

900,315
0.00%
0.00%
(7,387,980)
13,208,986

900,315
0.00%
0.00%
6,510,410
13,454,187

2,671,605
0.00%
0.00%
(10,346,069)
18,460,536

2,671,605
0.00%
0.00%
8,225,230
24,940,371

2,671,605
0.00%
0.00%
(6,429,336)
23,457,281

8.05%
0.66%
-65.19%
-3.62%
0.69%
-2.29%
91.95%
-0.68
39.13%
5.03
-2.24

0.98%
0.08%
-1,474.27%
-4.23%
0.96%
-3.28%
99.02%
-0.65
40.50%
4.15
-3.22

12.53%
1.17%
-8.42%
-1.56%
1.63%
0.85%
87.47%
-2.55
38.21%
2.66
-0.42

22.31%
2.06%
3.70%
0.77%
0.93%
4.96%
77.69%
2.78
43.20%
4.46
0.26

22.16%
2.14%
-1.86%
-0.39%
1.20%
2.79%
77.84%
-7.96
42.25%
3.96
-0.13

5.86%
21.59%
55.87%
73.78%
92.11%
93.01%
76.69%

4.77%
29.39%
46.75%
72.25%
97.43%
81.82%
62.74%

4.82%
18.15%
61.04%
76.66%
93.35%
95.01%
80.71%

5.00%
19.35%
55.07%
70.66%
93.78%
86.32%
67.57%

4.60%
14.30%
55.02%
77.53%
93.99%
78.23%
67.16%

33.64%
18.59%
415.70%
23.13%
55.27%

29.29%
20.93%
6,039.17%
27.19%
71.43%

23.35%
16.19%
92.02%
2.66%
69.34%

19.93%
9.71%
58.63%
48.94%
48.74%

20.02%
9.29%
58.54%
-11.57%
46.39%

5.55%
4.27
3.43
13.29

0.29%
68.33
0.22
251.95

18.48%
1.37
5.03
4.15

20.74%
1.33
7.04
3.41

20.75%
1.27
6.92
3.74

3.67

-2.24

9.15

11.83

18.68

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

54

Financial Statement Analysis of Financial Sector

SONERI BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

6,965,749
4,114,222
2,016,877
834,650
147,298
73,864,207
1,254,496
8,441,454
61,634,491
2,533,766
80,977,254
5,646,755
3,908,859
3,990,269
14,053,177
49,464,962
5,002,417
1,889,598
47,575,364
3,126,857
2,675,973

7,181,577
5,019,351
2,003,948
158,278
621,624
87,507,071
1,763,401
9,385,522
73,548,226
2,809,922
95,310,272
6,471,173
1,497,193
2,755,377
29,537,179
51,939,441
3,190,077
3,212,338
48,727,103
3,333,891
2,988,356

8,381,360
6,023,221
2,029,036
329,103
536,313
99,188,005
1,857,810
12,370,528
82,016,811
2,942,856
108,105,678
7,247,711
1,400,451
2,531,900
34,985,663
59,293,364
7,096,036
4,617,643
54,675,721
3,468,923
3,795,309

10,236,801
9,029,185
1,182,501
25,115
740,486
118,755,099
1,571,314
14,557,179
99,733,970
2,892,636
129,732,386
8,959,130
879,000
813,190
45,775,969
71,071,622
8,941,653
5,731,675
65,339,947
3,833,916
4,131,234

11,399,026
10,022,396
410,129
966,501
953,874
146,265,336
2,522,405
20,398,487
120,830,571
2,513,873
158,618,236
11,491,348
1,249,168
1,123,067
59,517,180
83,254,363
9,927,397
6,249,357
77,005,006
4,015,233
4,217,234

7,822,941
4,878,347
2,944,594
1,265,942
1,678,652
1,226,206
1,951,625
1,673,590
953,233
701,041

9,337,284
6,602,779
2,734,505
1,633,343
1,101,162
1,168,193
2,078,942
2,113,660
190,413
145,355

10,250,494
7,203,842
3,046,652
1,452,236
1,594,416
1,228,431
2,682,400
2,623,991
140,447
125,440

12,895,306
8,997,385
3,897,921
1,272,178
2,625,743
1,955,203
3,502,675
3,447,925
1,078,271
783,533

14,068,169
9,224,135
4,844,034
519,632
4,324,402
1,856,932
4,459,278
4,248,241
1,722,056
1,104,193

411,422
0.00%
22.00%
4,500,148
30,104,153

501,935
0.00%
0.00%
13,892,687
39,824,682

602,322
0.00%
0.00%
5,497,142
55,540,656

902,919
0.00%
12.50%
11,482,024
32,814,252

1,002,240
0.00%
11.00%
17,381,324
61,324,567

37.64%
3.64%
10.06%
0.87%
1.51%
2.07%
62.36%
1.76
21.57%
1.36
1.70

29.29%
2.87%
2.02%
0.15%
1.23%
1.16%
70.71%
11.10
19.79%
1.81
0.29

29.72%
2.82%
1.50%
0.12%
1.14%
1.47%
70.28%
18.68
23.37%
2.14
0.21

30.23%
3.00%
7.65%
0.60%
1.51%
2.02%
69.77%
3.20
23.59%
1.76
0.87

34.43%
3.05%
9.69%
0.70%
1.17%
2.73%
65.57%
2.47
28.00%
2.29
1.10

11.80%
17.35%
58.75%
76.11%
91.22%
80.26%
70.59%

8.36%
30.99%
51.12%
77.17%
91.81%
70.62%
62.63%

8.00%
32.36%
50.58%
75.87%
91.75%
72.29%
62.82%

7.58%
35.28%
50.37%
76.88%
91.54%
71.26%
62.18%

8.03%
37.52%
48.55%
76.18%
92.21%
68.90%
58.95%

10.11%
3.82%
71.81%
67.00%
37.77%

6.14%
6.18%
44.42%
50.85%
100.70%

11.97%
7.79%
84.66%
31.45%
65.07%

12.58%
8.06%
87.35%
22.20%
64.10%

11.92%
7.51%
87.09%
8.31%
62.95%

8.60%
4.32
16.93
8.85

7.53%
5.55
14.31
10.24

7.75%
6.63
13.92
9.79

7.89%
3.21
11.34
9.74

7.19%
5.38
11.37
10.60

6.42

95.58

43.82

14.65

15.74

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

55

Financial Statement Analysis of Financial Sector

STANDARD CHARTERED BANK (PAKISTAN) LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

44,010,120
38,715,850
1,812,492
3,481,778
(1,252,980)
221,860,038
4,296,420
8,695,730
174,551,801
34,316,087
264,617,178
22,741,035
1,261,582
31,466,898
29,586,663
137,716,271
16,534,389
12,114,806
125,601,465
3,886,275
50,073,260

44,817,406
38,715,850
2,052,347
4,049,209
3,852,905
268,909,813
4,844,638
15,847,326
206,915,825
41,302,024
317,580,124
21,521,592
2,305,891
20,568,064
83,263,661
146,243,792
21,388,480
16,783,638
129,460,154
7,003,915
53,456,847

48,339,869
38,715,850
2,785,229
6,838,790
3,760,200
275,197,331
5,691,864
15,914,343
220,187,888
33,403,236
327,297,400
24,087,885
921,931
30,421,885
72,294,275
163,713,272
22,581,390
18,991,715
144,721,557
6,606,225
48,243,642

51,535,761
38,715,850
3,879,491
8,940,420
4,122,977
308,529,074
4,576,789
19,361,864
235,874,584
48,715,837
364,187,812
26,293,151
3,204,253
20,205,971
104,040,114
159,653,491
26,102,557
22,344,611
137,308,880
6,437,023
66,698,420

50,631,418
38,715,850
5,068,628
6,846,940
4,792,650
343,631,382
6,164,867
23,399,389
266,598,571
47,468,555
399,055,450
31,487,972
2,700,218
19,845,269
131,741,003
169,489,759
27,473,845
24,571,487
144,918,272
6,381,584
61,981,132

23,307,442
6,888,900
16,418,542
9,316,038
7,102,504
6,611,470
12,620,994
12,424,711
1,092,980
677,132

27,242,261
10,725,651
16,516,610
9,447,907
7,068,703
6,924,143
12,477,127
12,148,873
1,515,719
872,411

28,569,842
11,016,266
17,553,576
4,359,235
13,194,341
12,997,894
13,439,371
12,997,894
5,757,685
3,740,855

32,825,124
11,907,713
20,917,411
4,507,477
16,409,934
6,192,553
14,016,159
13,408,462
8,586,328
5,553,141

32,214,232
12,337,997
19,876,235
3,578,599
16,297,636
7,311,963
14,287,244
14,045,547
9,322,355
6,045,864

3,871,585
0.00%
0.00%
(12,894,580)
121,947,090

3,871,585
0.00%
0.00%
46,769,642
150,649,399

3,871,585
6.00%
0.00%
(9,718,375)
164,327,870

3,871,585
10.00%
0.00%
40,845,050
182,579,724

3,871,585
20.00%
0.00%
39,321,043
155,958,393

70.44%
6.20%
1.54%
0.26%
2.50%
2.68%
29.56%
11.37
42.18%
1.88
0.17

60.63%
5.20%
1.95%
0.27%
2.18%
2.23%
39.37%
8.02
36.52%
1.75
0.23

61.44%
5.36%
7.74%
1.14%
3.97%
4.03%
38.56%
2.26
32.33%
1.00
0.97

63.72%
5.74%
10.78%
1.52%
1.70%
4.51%
36.28%
1.56
35.92%
2.17
1.43

61.70%
4.98%
11.94%
1.52%
1.83%
4.08%
38.30%
1.51
36.15%
1.92
1.56

9.07%
11.18%
47.47%
65.96%
83.84%
78.90%
75.15%

7.50%
26.22%
40.76%
65.15%
84.67%
70.68%
65.65%

7.64%
22.09%
44.22%
67.27%
84.08%
74.35%
69.34%

8.10%
28.57%
37.70%
64.77%
84.72%
67.69%
62.55%

8.57%
33.01%
36.32%
66.81%
86.11%
63.57%
58.45%

12.01%
8.80%
37.57%
76.90%
73.27%

14.63%
11.48%
47.72%
56.29%
78.47%

13.79%
11.60%
46.71%
22.95%
84.10%

16.35%
14.00%
50.65%
20.17%
85.60%

16.21%
14.50%
54.26%
14.56%
89.44%

16.63%
2.77
11.37
3.97

14.11%
3.36
11.58
4.62

14.77%
3.40
12.49
4.55

14.15%
3.54
13.31
4.58

12.69%
3.08
13.08
5.27

53.61

-2.60

7.36

6.50

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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


-19.04

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

56

Financial Statement Analysis of Financial Sector

SUMMIT BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

6,132,731
5,000,000
1,314,828
(182,097)
(312,611)
18,982,697
75,963
1,869,940
16,616,466
420,328
24,802,817
1,349,649
65,580
200,000
5,094,613
16,510,341
751,663
751,663
15,758,678
927,882
1,406,415

4,065,941
5,000,000
1,064,828
(1,998,887)
(11,541)
34,118,975
213,209
1,554,801
31,307,488
1,043,477
38,173,375
1,923,526
724,802
1,433,817
12,446,033
21,072,058
2,568,243
2,568,243
18,503,815
1,570,754
1,570,628

3,494,032
7,250,660
(1,335,050)
(2,421,578)
(220,764)
68,883,636
357,293
5,257,243
61,537,424
1,731,676
72,156,904
4,047,590
375,207
0
20,204,357
44,477,357
11,394,074
5,723,944
38,753,413
2,781,943
5,994,394

5,502,434
10,779,796
(1,811,675)
(3,465,687)
198,120
113,566,961
900,750
18,562,616
89,665,301
4,438,294
119,267,515
6,117,998
1,433,614
1,069,757
36,098,644
68,381,073
22,417,723
12,381,409
55,999,664
6,175,011
12,372,827

2,840,291
10,779,796
(1,811,675)
(6,127,830)
165,764
131,283,011
1,654,302
28,900,432
96,815,372
3,912,905
134,289,066
8,110,198
3,601,183
2,038,500
49,777,088
64,942,457
23,409,947
12,393,303
52,549,154
5,450,400
12,762,543

2,471,982
1,585,875
886,107
623,202
262,905
166,780
776,959
774,742
(347,274)
(191,408)

3,514,363
2,877,797
636,566
2,040,787
(1,404,221)
1,208,532
1,077,054
1,064,723
(2,285,586)
(2,066,790)

7,068,952
6,100,832
968,120
2,230,522
1,262,402
623,446
3,250,790
2,790,634
(3,889,746)
(3,032,144)

9,550,022
9,016,895
533,127
512,139
20,988
764,744
3,936,508
3,889,496
(3,149,628)
(1,182,769)

10,262,500
10,133,076
129,424
22,942
106,482
1,425,650
4,032,501
4,006,090
(2,499,096)
(2,717,281)

500,000
0.00%
11.11%
1,156,154
25,857,630

500,000
0.00%
0.00%
8,975,769
35,826,776

725,066
0.00%
0.00%
4,361,206
45,997,746

1,077,980
0.00%
0.00%
8,300,938
45,997,746

1,077,980
0.00%
0.00%
17,593,639
54,414,503

35.85%
3.57%
-3.12%
-0.77%
0.67%
1.06%
64.15%
-2.23
29.44%
4.65
-0.38

18.11%
1.67%
-50.83%
-5.41%
3.17%
-3.68%
81.89%
-0.47
22.80%
0.88
-4.13

13.70%
1.34%
-86.78%
-4.20%
0.86%
1.75%
86.30%
-0.72
42.26%
4.48
-4.18

5.58%
0.45%
-21.50%
-0.99%
0.64%
0.02%
94.42%
-1.23
38.16%
5.09
-1.10

1.26%
0.10%
-95.67%
-2.02%
1.06%
0.08%
98.74%
-1.60
34.50%
2.81
-2.52

5.71%
20.54%
63.54%
66.99%
76.53%
99.36%
89.31%

6.94%
32.60%
48.47%
82.01%
89.38%
67.31%
64.12%

6.13%
28.00%
53.71%
85.28%
95.46%
72.28%
66.59%

6.33%
30.27%
46.95%
75.18%
95.22%
76.26%
63.18%

8.72%
37.07%
39.13%
72.09%
97.76%
67.08%
51.66%

4.55%
4.55%
12.26%
82.91%
100.00%

12.19%
12.19%
63.16%
79.46%
100.00%

25.62%
12.87%
326.10%
38.97%
50.24%

32.78%
18.11%
407.41%
4.14%
55.23%

36.05%
19.08%
824.21%
0.19%
52.94%

24.73%
4.22
12.27
2.71

10.65%
8.81
8.13
7.70

4.84%
13.16
4.82
17.61

4.61%
8.36
5.10
16.30

2.12%
19.16
2.63
34.09

-6.04

-4.34

-1.44

-7.02

-6.47

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

57

Financial Statement Analysis of Financial Sector

UNITED BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

45,076,576
10,117,188
17,256,061
17,703,327
4,319,088
571,311,725
5,210,870
44,749,690
492,267,898
29,083,267
620,707,389
50,143,570
14,540,306
22,805,341
115,057,090
397,736,446
28,552,722
19,791,080
377,945,366
19,926,915
20,288,801

55,914,736
11,128,907
21,167,954
23,617,875
11,403,627
573,103,548
5,166,361
37,168,277
503,831,672
26,937,238
640,421,911
61,562,141
14,049,990
23,162,130
137,734,578
390,493,953
40,065,237
28,414,357
362,079,596
23,734,082
18,099,394

63,919,969
12,241,798
24,101,838
27,576,333
11,214,211
651,288,371
5,074,700
47,631,814
567,611,258
30,970,599
726,422,551
67,667,226
26,430,928
11,934,778
231,717,214
376,480,024
51,144,170
34,969,612
341,510,412
24,684,566
22,477,427

73,945,411
12,241,798
27,495,959
34,207,654
11,975,235
721,284,142
5,879,043
50,845,877
633,889,416
30,669,806
807,204,788
86,502,444
19,225,488
9,536,211
301,106,877
382,115,775
39,967,562
40,976,256
341,139,519
25,722,481
23,971,768

82,772,301
12,241,798
32,298,690
38,231,813
18,082,083
859,356,031
7,600,633
67,215,209
755,264,264
29,275,925
960,210,415
94,766,489
22,843,080
21,953,458
381,245,903
430,694,442
53,567,224
44,860,181
385,834,261
27,460,839
26,106,385

52,763,249
24,247,281
28,515,968
7,753,688
20,762,280
11,199,152
17,780,935
16,679,968
14,052,051
8,445,251

61,745,462
28,323,272
33,422,190
12,879,215
20,542,975
12,070,500
18,911,237
17,803,338
14,392,181
9,487,952

60,046,011
25,207,785
34,838,226
8,150,258
26,687,968
10,584,485
19,861,194
19,137,857
17,688,623
11,020,925

71,374,143
31,305,056
40,071,787
7,274,864
32,796,923
13,129,783
22,067,945
21,253,504
23,633,636
14,887,113

75,379,861
35,736,985
39,642,876
4,246,967
35,395,909
17,194,831
26,577,953
25,448,913
28,410,446
19,279,784

1,011,718
25.00%
10.00%
1,025,033
48,668,314

1,112,891
25.00%
10.00%
27,084,242
450,962,490

1,224,180
50.00%
0.00%
105,607,607
269,878,986

1,224,180
75.00%
0.00%
100,937,130
261,653,953

1,224,180
85.00%
0.00%
94,242,177
561,832,979

54.05%
4.59%
18.74%
1.36%
1.80%
3.34%
45.95%
1.19
27.80%
1.49
8.35

54.13%
5.22%
16.97%
1.48%
1.88%
3.21%
45.87%
1.24
25.62%
1.47
8.53

58.02%
4.80%
17.24%
1.52%
1.46%
3.67%
41.98%
1.08
28.12%
1.81
9.00

56.14%
4.96%
20.13%
1.84%
1.63%
4.06%
43.86%
0.90
26.11%
1.62
12.16

52.59%
4.13%
23.29%
2.01%
1.79%
3.69%
47.41%
0.90
28.71%
1.48
15.75

10.42%
18.54%
60.89%
79.31%
92.04%
80.80%
74.06%

11.81%
21.51%
56.54%
78.67%
89.49%
77.50%
72.18%

12.95%
31.90%
47.01%
78.14%
89.66%
66.33%
61.19%

13.10%
37.30%
42.26%
78.53%
89.36%
60.28%
55.80%

12.25%
39.70%
40.18%
78.66%
89.50%
57.03%
52.37%

7.18%
4.98%
63.34%
39.18%
69.31%

10.26%
7.28%
71.65%
45.33%
70.92%

13.58%
9.29%
80.01%
23.31%
68.37%

10.46%
10.72%
54.05%
17.75%
102.52%

12.44%
10.42%
64.72%
9.47%
83.75%

7.26%
1.08
44.55
10.92

8.73%
8.07
50.24
9.01

8.80%
4.22
52.21
8.88

9.16%
3.54
60.40
8.57

8.62%
6.79
67.61
9.12

0.12

2.85

9.58

6.78

4.89

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

58

Financial Statement Analysis of Financial Sector

Specialized Banks - Overall


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

(7,631,049)
15,506,103
2,438,371
(25,575,523)
3,494,010
134,345,948
755,721
83,318,134
13,883,492
36,388,601
130,208,909
2,840,235
18,315,949
700,000
12,046,115
101,188,798
22,710,747
21,074,895
80,113,903
5,106,662
11,086,045

(8,401,902)
15,506,595
2,474,080
(26,382,577)
3,667,038
134,175,343
750,837
83,291,453
13,993,545
36,139,508
129,440,479
2,732,123
18,153,423
514,714
11,287,064
101,603,284
29,549,247
20,845,933
80,757,351
5,092,505
10,903,299

(2,357,651)
15,507,008
5,667,412
(23,532,071)
4,112,638
142,867,257
382,039
80,411,173
19,388,626
42,685,419
144,622,244
3,938,119
12,711,768
108,802
14,337,679
114,863,661
32,828,790
20,875,323
93,988,338
5,088,581
14,448,957

3,400,433
15,507,532
9,401,686
(21,508,785)
4,722,128
141,606,251
424,070
77,927,198
17,679,270
45,575,713
149,728,812
3,877,585
13,369,905
875,567
19,444,243
114,608,118
34,587,578
20,393,166
94,214,952
5,098,297
12,848,263

8,114,652
15,351,097
11,007,594
(18,244,039)
5,261,557
146,980,411
437,560
79,171,231
17,407,827
49,963,792
160,356,619
4,394,306
9,988,434
811,007
25,493,629
119,722,057
34,212,906
20,450,700
99,271,357
4,826,071
15,571,815

10,686,103
5,110,072
5,576,031
1,333,576
3,031,251
6,363,253
6,819,291
5,844,945
4,161,233
2,322,667

10,961,387
6,273,993
4,687,354
1,823,956
2,863,438
6,310,426
6,912,356
6,616,341
3,131,648
1,731,787

11,382,350
5,567,663
5,814,687
1,756,218
4,188,997
4,967,514
6,693,127
6,684,865
2,463,384
1,482,473

12,186,304
5,200,549
7,558,555
853,140
6,474,415
3,394,097
6,302,529
6,125,243
3,572,001
2,435,519

13,795,807
4,506,849
9,288,958
1,213,615
8,075,343
4,597,348
8,815,351
8,668,686
3,857,340
2,528,709

1,511,536

1,511,541

1,497,415

1,497,421

1,497,421

N/A
N/A
(2,141,072)
23,033,910

N/A
N/A
(34,771)
26,032,331

N/A
N/A
(220,985)
15,407,849

N/A
N/A
2,177,250
14,728,671

N/A
N/A
(164,521)
15,999,364

52.18%
4.28%
-30.44%
1.78%
4.89%
2.33%
47.82%
1.40
40.00%
0.92
1.54

42.76%
3.62%
-20.61%
1.34%
4.88%
2.21%
57.24%
2.11
40.02%
1.05
1.15

51.09%
4.02%
-62.88%
1.03%
3.43%
2.90%
48.91%
2.71
40.94%
1.35
0.99

62.02%
4.67%
71.62%
1.63%
2.27%
4.32%
42.68%
1.71
40.45%
1.80
1.63

67.33%
5.79%
31.16%
1.58%
2.87%
5.04%
32.67%
2.25
47.93%
1.89
1.69

16.25%
9.25%
61.53%
10.66%
103.18%
728.84%
104.10%

16.14%
8.72%
62.39%
10.81%
103.66%
726.07%
104.44%

11.51%
9.91%
64.99%
13.41%
98.79%
592.43%
115.09%

11.52%
12.99%
62.92%
11.81%
94.58%
648.26%
119.87%

8.97%
15.90%
61.91%
10.86%
91.66%
687.75%
123.96%

22.44%
20.83%
-297.61%
6.33%
92.80%

29.08%
20.52%
-351.70%
8.75%
70.55%

28.58%
18.17%
-1,392.44%
8.41%
63.59%

30.18%
17.79%
1,017.15%
4.18%
58.96%

28.58%
17.08%
421.62%
5.93%
59.77%

-5.86%
-3.02
-5.05
-1.82

-6.49%
-3.10
-5.56
-1.67

-1.63%
-6.54
-1.57
-8.22

2.27%
4.33
2.27
5.20

5.06%
1.97
5.42
2.15

-0.92

-0.02

-0.15

0.89

-0.07

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

59

Financial Statement Analysis of Financial Sector

INDUSTRIAL DEV. BANK OF PAKISTAN


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

(27,942,705)
157,000
750,548
(28,850,253)
(252,683)
35,440,978
29,471
22,542,821
4,637,119
8,231,567
7,245,590
212,428
30,513
600,000
4,036,610
6,492,401
0
6,367,623
124,778
125,120
2,116,141

(27,804,610)
157,000
750,548
(28,712,158)
(365,817)
33,978,550
38,612
22,305,318
3,796,797
7,837,823
5,808,123
183,885
50,313
481,269
3,178,546
6,411,877
6,283,508
6,269,695
142,182
120,568
1,651,360

(27,709,145)
157,000
750,548
(28,616,693)
(254,642)
33,121,740
13,717
22,466,356
3,313,563
7,328,104
5,157,953
150,299
64,681
108,802
3,015,974
6,266,499
6,158,107
6,158,107
108,392
123,390
1,586,415

(27,673,517)
157,000
750,548
(28,581,065)
(227,663)
33,045,645
20,096
22,553,874
3,274,523
7,197,152
5,144,465
137,589
59,750
75,567
2,864,998
6,294,331
6,226,954
6,192,209
102,122
59,364
1,845,075

(27,501,370)
1
0
(27,501,370)
34,191
32,014,058
10,559
24,292,043
575,373
7,136,082
4,546,879
57,432
20,171
61,007
1,930,923
6,247,019
6,221,583
6,193,926
53,093
55,240
2,369,013

441,814
616,701
(174,887)
(605,602)
(780,489)
160,487
793,010
158,076
173,008
128,542

404,055
689,973
(285,958)
(159,224)
(126,694)
422,828
155,888
180,890
140,246
138,095

284,378
537,511
(253,133)
65,264
(187,869)
477,293
192,004
196,798
97,420
95,465

300,466
586,866
286,400
96,224
(190,176)
223,134
35,967
187,125
3,009
35,628

74,435
105,173
(30,738)
(9,278)
(21,460)
76,205
78,331
78,228
(23,586)
(23,866)

15,700
0.00%
0.00%
(549,050)
139,219

15,700
0.00%
0.00%
(756,259)
145,208

1,570
0.00%
0.00%
(280,827)
141,970

1,570
0.00%
0.00%
(255,917)
142,059

1,570
0.00%
0.00%
(1,016,245)
142,059

-39.58%
-2.41%
-0.46%
1.77%
2.21%
-10.77%
139.58%
0.91
131.66%
0.98
8.19

-70.77%
-4.92%
-0.50%
2.38%
7.28%
-2.18%
170.76%
1.29
18.85%
0.43
8.80

-89.01%
-4.91%
-0.34%
1.85%
9.25%
-3.64%
189.01%
2.02
25.21%
0.41
60.81

95.32%
-5.57%
-0.13%
0.69%
4.34%
-3.70%
195.32%
62.19
6.87%
0.84
22.69

-41.30%
-0.68%
0.09%
-0.52%
1.68%
-0.47%
141.30%
-3.32
52.00%
1.03
-15.20

3.35%
55.71%
1.72%
64.00%
489.14%
140.01%
23.89%

4.03%
54.73%
2.45%
65.37%
585.02%
168.88%
24.56%

4.17%
58.47%
2.10%
64.24%
642.15%
189.12%
24.31%

3.84%
55.69%
1.99%
63.65%
642.35%
192.22%
24.37%

1.71%
42.47%
1.17%
12.65%
704.09%
1,085.73%
25.12%

0.00%
98.08%
0.00%
-9.51%

98.00%
97.78%
-22.60%
-2.54%
99.78%

98.27%
98.27%
-22.22%
1.06%
100.00%

98.93%
98.38%
-22.50%
1.55%
99.44%

99.59%
99.15%
-22.62%
-0.15%
99.56%

-385.65%
0.00
-1,779.79
-0.17

-478.72%
-0.01
-1,770.99
-0.14

-537.21%
-0.01
-17,649.14
-0.12

-537.93%
-0.01
-17,626.44
-0.12

-604.84%
-0.01
-17,516.80
-0.02

-4.27

-5.48

-2.94

-7.18

42.58

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

60

Financial Statement Analysis of Financial Sector

SME BANK LTD.


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

2,356,333
2,392,507
199,356
(235,530)
(401,844)
3,802,521
37,686
1,518,100
1,892,018
354,717
5,757,010
200,112
49,751
100,000
2,545,053
7,942,929
5,496,498
5,416,607
2,526,322
124,546
211,226

2,426,535
2,392,507
235,636
(201,608)
(69,984)
5,192,070
54,542
1,728,922
2,934,403
474,203
7,548,621
213,861
79,660
33,445
2,701,816
9,243,470
6,166,877
5,285,573
3,957,897
122,462
439,480

2,184,805
2,392,507
234,660
(442,362)
(61,157)
4,508,821
40,505
1,437,604
2,651,948
378,764
6,632,469
228,062
20,912
0
2,680,334
8,744,596
5,995,141
5,436,997
3,307,599
132,586
262,976

1,976,571
2,392,507
234,660
(650,596)
21,753
5,758,864
183,863
2,171,669
2,999,192
404,140
7,757,188
214,655
9,865
800,000
3,027,667
8,655,771
5,937,822
5,306,693
3,349,078
135,321
220,602

1,564,101
2,392,507
234,660
(1,063,066)
74,488
7,759,271
102,132
3,587,031
3,326,423
743,685
9,397,860
278,502
44,228
750,000
4,569,617
8,709,930
5,877,266
5,362,510
3,347,420
145,414
262,679

774,797
385,379
389,418
11,368
378,050
58,647
568,691
570,101
(131,994)
(532,948)

879,072
523,653
355,419
58,921
296,498
21,478
1,216,276
1,236,080
(28,160)
(33,894)

647,521
350,732
296,789
166,780
130,009
62,287
529,348
517,111
(337,052)
(297,652)

728,192
432,919
295,273
74,676
369,949
26,738
613,257
608,610
(216,570)
(225,031)

819,120
537,819
281,301
70,514
210,787
18,859
641,119
636,726
(411,473)
(420,282)

239,251
0.00%
0.00%
550,566
2,550,866

239,251
0.00%
0.00%
(539,136)
2,988,550

239,251
0.00%
0.00%
(4,386)
3,658,819

239,251
0.00%
0.00%
490,316
3,658,819

239,251
0.00%
0.00%
1,656,889
4,950,066

50.26%
6.76%
-22.62%
-9.26%
1.02%
6.57%
49.74%
-4.32
68.23%
9.72
-2.23

40.43%
4.71%
-1.40%
-0.45%
0.28%
3.93%
59.57%
-43.89
135.06%
57.55
-0.14

45.83%
4.47%
-13.62%
-4.49%
0.94%
1.96%
54.17%
-1.53
74.58%
8.30
-1.24

40.55%
3.81%
-11.38%
-2.90%
0.34%
4.77%
59.45%
-2.81
81.23%
22.76
-0.94

34.34%
2.99%
-26.87%
-4.47%
0.20%
2.24%
65.66%
-1.55
76.51%
33.76
-1.76

4.34%
44.21%
43.88%
32.86%
66.05%
419.81%
232.92%

3.89%
35.79%
52.43%
38.87%
68.78%
315.00%
198.22%

3.75%
40.41%
49.87%
39.98%
67.98%
329.74%
213.83%

2.89%
39.03%
43.17%
38.66%
74.24%
288.60%
167.40%

3.43%
48.62%
35.62%
35.40%
82.56%
261.84%
125.99%

69.20%
68.19%
233.26%
0.21%
98.55%

66.72%
57.18%
254.14%
1.11%
85.71%

68.56%
62.18%
274.40%
3.07%
90.69%

68.60%
61.31%
300.41%
1.41%
89.37%

67.48%
61.57%
375.76%
1.31%
91.24%

40.93%
1.08
9.85
0.80

32.15%
1.23
10.14
1.21

32.94%
1.67
9.13
1.21

25.48%
1.85
8.26
1.52

16.64%
3.16
6.54
2.13

-1.03

15.91

0.01

-2.18

-3.94

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

61

Financial Statement Analysis of Financial Sector

THE PUNJAB PROVINCIAL COOPERATIVE BANK LIMITED


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,066,511
434,155
402,298
230,058
3,654,089
10,113,896
75,186
8,000,000
1,929,185
109,525
14,834,496
695,200
2,230,225
0
508,762
8,983,220
4,228,634
1,443,914
7,539,306
3,712,774
148,229

87,361
434,647
401,727
(749,013)
3,608,391
10,016,170
44,305
8,000,000
1,837,175
134,690
13,711,922
601,882
2,017,990
0
451,012
8,177,689
4,113,247
1,443,914
6,733,775
3,705,253
202,010

2,304,214
435,060
2,797,793
(928,639)
3,586,269
9,355,390
21,777
5,250,000
3,820,343
263,270
15,245,873
814,147
1,709,436
0
799,673
7,385,647
3,430,614
1,605,894
5,779,753
3,700,872
2,441,992

6,089,755
435,584
6,103,037
(448,866)
3,614,195
4,655,249
11,994
1,944,442
2,443,098
255,715
14,359,199
468,879
2,123,846
0
1,503,620
7,625,939
2,498,221
1,605,893
6,020,046
3,736,445
506,363

8,454,769
436,148
7,941,588
77,033
3,353,994
2,743,763
30,845
0
2,409,075
303,843
14,552,526
533,867
923,473
0
1,108,617
9,416,313
2,189,476
1,605,893
7,810,420
3,445,150
730,999

984,869
618,581
366,288
3,551
362,737
355,393
596,544
596,293
121,586
120,416

1,193,637
1,570,956
(377,319)
0
(377,319)
77,394
679,146
678,896
(979,071)
(979,071)

1,553,750
965,655
588,095
158,452
429,643
76,830
681,299
680,681
(174,826)
(179,626)

1,647,318
386,027
1,261,291
0
1,261,291
73,906
826,794
826,662
508,403
479,773

1,580,867
126,469
1,454,398
88,059
1,366,339
85,896
1,049,244
877,831
402,991
383,330

4,342
0.00%
0.00%
(3,725,168)
9,031,919

4,346
0.00%
0.00%
(321,956)
11,586,667

4,351
0.00%
0.00%
(2,135,260)
241,483

4,356
0.00%
0.00%
(2,529,962)
392,711

4,356
0.00%
0.00%
(3,326,137)
372,157

37.19%
2.47%
11.29%
0.81%
2.40%
2.45%
62.81%
4.90
44.51%
1.68
27.74

-31.61%
-2.75%
-1,120.72%
-7.14%
0.56%
-2.75%
131.61%
-0.69
53.43%
8.77
-225.26

37.85%
3.86%
-7.80%
-1.18%
0.50%
2.82%
62.15%
-3.89
41.78%
8.86
-41.29

76.57%
8.78%
7.88%
3.34%
0.51%
8.78%
23.43%
1.63
48.04%
11.19
110.14

92.00%
9.99%
4.53%
2.63%
0.59%
9.39%
8.00%
2.18
62.95%
10.22
88.00

19.72%
3.43%
50.82%
13.00%
68.18%
465.65%
90.47%

19.11%
3.29%
49.11%
13.40%
73.05%
445.12%
83.13%

16.55%
5.25%
37.91%
25.06%
61.36%
193.32%
81.43%

18.06%
10.47%
41.92%
17.01%
32.42%
312.14%
173.81%

10.01%
7.62%
53.67%
16.55%
18.85%
390.87%
390.87%

47.07%
16.07%
396.49%
0.25%
34.15%

50.30%
17.66%
4,708.33%
0.00%
35.10%

46.45%
21.74%
148.88%
9.87%
46.81%

32.76%
21.06%
41.02%
0.00%
64.28%

23.25%
17.05%
25.90%
5.48%
73.35%

7.19%
8.47
245.65
1.81

0.64%
132.63
20.10
21.03

15.11%
0.10
529.63
1.66

42.41%
0.06
1,398.02
0.40

58.10%
0.04
1,940.95
0.28

-30.94

0.33

11.89

-5.27

-8.68

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

62

Financial Statement Analysis of Financial Sector

ZARAI TARAQIATI BANK LTD. (ZTBL)


Items
A.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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

16,888,812
12,522,441
1,086,169
3,280,202
494,448
84,988,553
613,378
51,257,213
5,425,170
27,692,792
102,371,813
1,732,495
16,005,460
0
4,955,690
77,770,248
12,985,615
7,846,751
69,923,497
1,144,222
8,610,449

16,888,812
12,522,441
1,086,169
3,280,202
494,448
84,988,553
613,378
51,257,213
5,425,170
27,692,792
102,371,813
1,732,495
16,005,460
0
4,955,690
77,770,248
12,985,615
7,846,751
69,923,497
1,144,222
8,610,449

20,862,475
12,522,441
1,884,411
6,455,623
842,168
95,881,306
306,040
51,257,213
9,602,772
34,715,281
117,585,949
2,745,611
10,916,739
0
7,841,698
92,466,919
17,244,928
7,674,325
84,792,594
1,131,733
10,157,574

23,007,624
12,522,441
2,313,441
8,171,742
1,313,843
98,146,493
208,117
51,257,213
8,962,457
37,718,706
122,467,960
3,056,462
11,176,444
0
12,047,958
92,032,077
19,924,581
7,288,371
84,743,706
1,167,167
10,276,223

25,597,151
12,522,441
2,831,346
10,243,364
1,798,884
104,463,319
294,024
51,292,157
11,096,956
41,780,182
131,859,354
3,524,505
9,000,562
0
17,884,472
95,348,795
19,924,581
7,288,371
88,060,424
1,180,267
12,209,124

8,484,623
3,489,411
4,995,212
1,924,259
3,070,953
5,788,726
4,861,046
4,520,475
3,998,633
2,606,657

8,484,623
3,489,411
4,995,212
1,924,259
3,070,953
5,788,726
4,861,046
4,520,475
3,998,633
2,606,657

8,896,701
3,713,765
5,182,936
1,365,722
3,817,214
4,351,104
5,290,476
5,290,275
2,877,842
1,864,286

9,510,328
3,794,737
5,715,591
682,240
5,033,351
3,070,319
4,826,511
4,502,846
3,277,159
2,145,149

11,321,385
3,737,388
7,583,997
1,064,320
6,519,677
4,416,388
7,046,657
7,075,901
3,889,408
2,589,527

1,252,244
0.00%
0.00%
1,582,580
11,311,906

1,252,244
0.00%
0.00%
1,582,580
11,311,906

1,252,244
0.00%
0.00%
2,199,488
11,365,577

1,252,244
0.00%
0.00%
4,472,813
10,535,082

1,252,244
0.00%
0.00%
2,520,972
10,535,082

58.87%
4.88%
15.43%
2.55%
5.65%
3.00%
41.13%
1.13
34.06%
0.78
2.08

58.87%
4.88%
15.43%
2.55%
5.65%
3.00%
41.13%
1.13
34.06%
0.78
2.08

58.26%
4.41%
8.94%
1.59%
3.70%
3.25%
41.74%
1.84
39.93%
1.22
1.49

60.10%
4.67%
9.32%
1.75%
2.51%
4.11%
39.90%
1.37
38.36%
1.47
1.71

66.99%
5.75%
10.12%
1.96%
3.35%
4.94%
33.01%
1.82
44.78%
1.60
2.07

17.33%
4.84%
68.30%
5.30%
83.02%
1,433.51%
137.20%

17.33%
4.84%
68.30%
5.30%
83.02%
1,433.51%
137.20%

11.62%
6.67%
72.11%
8.17%
81.54%
962.92%
151.93%

11.62%
9.84%
69.20%
7.32%
80.14%
1,026.86%
152.83%

9.50%
13.56%
66.78%
8.42%
79.22%
859.23%
152.83%

16.70%
10.09%
76.89%
24.52%
60.43%

16.70%
10.09%
76.89%
24.52%
60.43%

18.65%
8.30%
82.66%
17.80%
44.50%

21.65%
7.92%
86.60%
9.36%
36.58%

20.90%
7.64%
77.84%
14.60%
36.58%

16.50%
0.67
13.49
0.32

16.50%
0.67
13.49
0.32

17.74%
0.54
16.66
0.46

18.79%
0.46
18.37
0.39

19.41%
0.41
20.44
0.43

0.61

0.61

1.18

2.09

0.97

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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)

H.Assets quality ratios


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)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


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)

63

Financial Statement Analysis of Financial Sector

Foreign Banks - Overall


Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

34,504,276
32,130,320
75,785
2,298,171
(532,853)
200,590,252
4,423,404
17,346,929
147,938,165
30,881,754
234,561,675
34,935,292
18,369,224
29,913,984
22,592,924
104,440,711
3,136,262
2,519,229
101,921,482
3,697,504
23,131,265

35,848,774
34,884,218
92,715
871,841
(109,477)
205,297,310
3,597,659
16,730,580
160,936,430
24,032,641
241,036,607
34,793,226
16,269,846
32,117,954
52,372,610
95,113,870
6,390,991
4,788,386
90,325,484
3,589,490
11,567,997

34,798,653
33,990,807
125,573
682,273
(290,802)
198,745,518
5,563,282
15,425,137
156,330,793
21,426,306
233,253,369
32,794,541
4,071,743
36,480,166
79,809,697
71,494,989
9,092,759
5,866,992
65,627,997
2,223,119
12,246,106

42,686,834
38,719,753
149,286
3,817,795
(156,810)
212,744,960
3,985,328
21,464,351
167,870,827
19,424,454
255,274,984
38,476,243
4,428,638
18,354,071
113,381,404
73,215,564
7,600,522
6,803,909
66,411,655
2,176,487
12,046,486

40,764,761
41,149,068
154,932
(539,239)
18,339
205,907,668
3,685,078
23,815,591
158,703,062
19,703,937
246,690,768
41,734,099
14,002,488
30,102,521
85,518,862
67,871,914
9,112,571
8,550,234
59,321,680
1,741,337
14,269,781

18,232,589
9,098,668
9,133,921
4,568,218
4,609,161
5,772,095
10,374,744
10,318,250
6,512
650,623

22,263,026
12,197,135
10,065,891
4,727,009
5,340,538
5,608,678
12,054,031
11,898,100
(850,572)
(809,378)

20,412,048
5,093,661
9,890,805
2,621,491
7,313,652
4,838,183
9,536,841
9,360,937
2,046,648
959,711

24,027,713
12,183,100
11,844,613
1,346,793
10,540,008
4,551,421
9,730,146
9,633,773
5,600,422
3,660,658

20,465,084
10,034,708
10,430,376
1,902,267
8,528,109
4,677,921
11,446,772
11,366,923
916,376
(227,213)

32,730,565
400,482,828

26,615,972
389,092,022

12,685,046
445,240,807

28,223,861
456,416,758

50.10%
3.89%
1.89%
0.28%
2.46%
1.97%
49.90%
1,584.50
43.22%
1.79

45.21%
4.18%
-2.26%
-0.34%
2.33%
2.22%
54.79%
-13.99
43.25%
2.12

48.46%
6.57%
2.76%
0.41%
2.07%
3.14%
24.95%
4.57
37.77%
1.93

49.30%
4.64%
8.58%
1.43%
1.78%
4.13%
50.70%
1.72
34.05%
2.12

50.97%
4.23%
-0.56%
-0.09%
1.90%
3.46%
49.03%
12.40
45.53%
2.43

22.73%
9.63%
43.45%
63.07%
85.52%
70.60%
63.19%

21.18%
21.73%
37.47%
66.77%
85.17%
59.10%
53.53%

15.81%
34.22%
28.14%
67.02%
85.21%
45.73%
41.63%

16.81%
44.42%
26.02%
65.76%
83.34%
43.61%
38.67%

22.59%
34.67%
24.05%
64.33%
83.47%
42.77%
37.19%

3.00%
2.41%
9.09%
181.33%
80.33%

6.72%
5.03%
17.83%
98.72%
74.92%

12.72%
8.21%
26.13%
44.68%
64.52%

10.38%
9.29%
17.81%
19.79%
89.52%

13.43%
12.60%
22.35%
22.25%
93.83%

14.71%
11.61
4.29

14.87%
10.85
4.49

14.92%
12.79
4.49

16.72%
10.69
3.93

16.52%
10.02
3.89

13.22

7.71

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

9,592,298
408,532,273

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


50.31

1.Cash generated from operating activities to profit after tax (E1/D10) (times)

64

-32.88

-42.22

Financial Statement Analysis of Financial Sector

BARCLAYS BANK PLC


Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

6,330,486
7,139,900
0
(809,414)
1,507
18,272,040
256,590
2,476,155
14,557,453
981,842
24,604,033
1,609,550
392,032
1,485,808
9,332,849
9,713,315
0
33,841
9,679,474
1,381,260
723,060

6,840,022
9,320,564
0
(2,480,542)
5,578
35,697,127
317,339
2,988,707
29,920,456
2,470,625
42,542,727
2,434,134
1,517,901
5,857,743
11,625,172
18,228,753
931,048
194,968
18,033,785
1,451,343
1,622,649

6,476,901
9,756,756
0
(3,279,855)
(8,849)
41,812,643
402,249
7,193,234
32,301,878
1,915,282
48,280,695
2,912,164
2,189,397
1,646,369
21,014,371
17,897,052
612,471
460,193
17,436,859
928,091
2,153,444

6,921,917
9,756,756
0
(2,834,839)
2,242
51,099,611
573,408
4,437,328
44,664,909
1,423,966
58,023,770
3,725,801
2,649,904
4,038,234
23,791,214
21,506,942
644,049
508,545
20,998,397
802,563
2,017,657

6,818,947
10,807,382
0
(3,988,435)
5,237
40,954,083
521,584
9,291,803
29,957,830
1,182,866
47,778,267
4,694,728
3,711,567
0
19,402,553
18,625,716
881,824
881,824
17,743,892
513,034
1,712,493

832,665
335,338
497,327
33,841
463,486
28,515
1,700,415
1,700,315
(1,208,414)
(809,414)

3,336,395
2,000,062
1,336,333
161,127
1,175,206
72,953
3,976,964
3,975,517
(2,343,683)
(1,671,128)

4,391,663
2,756,649
1,635,014
268,149
1,366,865
359,985
2,486,406
2,484,133
(1,224,843)
(799,313)

5,517,128
3,507,884
2,009,244
50,886
1,958,358
517,865
2,061,999
2,024,219
653,363
445,016

4,492,307
2,733,763
1,758,544
378,341
1,380,203
398,214
1,976,361
1,965,680
(1,040,826)
(1,153,596)

5,675,244
2,475,663

2,554,422
8,426,357

10,264,246
9,490,085

4,181,079
21,707,157

(3,452,934)
14,303,464

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

59.73%
2.02%
-12.79%
-3.29%
0.12%
1.88%
40.27%
-1.41
197.45%
59.63

40.05%
3.14%
-24.43%
-3.93%
0.17%
2.76%
59.95%
-1.70
116.65%
54.49

37.23%
3.39%
-12.34%
-1.66%
0.75%
2.83%
62.77%
-2.03
52.33%
6.90

36.42%
3.46%
6.43%
0.77%
0.89%
3.38%
63.58%
3.10
34.17%
3.91

39.15%
3.68%
-16.92%
-2.41%
0.83%
2.89%
60.85%
-1.89
40.41%
4.94

8.14%
37.93%
39.34%
59.17%
74.26%
66.72%
57.02%

9.29%
27.33%
42.39%
70.33%
83.91%
60.92%
55.39%

10.57%
43.53%
36.12%
66.90%
86.60%
55.41%
45.31%

10.99%
41.00%
36.19%
76.98%
88.07%
48.15%
43.80%

17.59%
40.61%
37.14%
62.70%
85.72%
62.17%
47.45%

0.00%
0.35%
0.00%
100.00%

5.11%
1.07%
13.61%
82.64%
20.94%

3.42%
2.57%
9.46%
58.27%
75.14%

2.99%
2.36%
9.30%
10.01%
78.96%

4.73%
4.73%
12.93%
42.90%
100.00%

25.73%
0.39
2.30

16.08%
1.23
4.37

13.42%
1.47
4.99

11.93%
3.14
6.45

14.27%
2.10
4.39

-7.01

-1.53

-12.84

9.40

2.99

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

65

Financial Statement Analysis of Financial Sector

CITI BANK N. A.
Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

9,507,730
7,742,345
75,785
1,689,600
(494,658)
92,638,755
1,660,227
3,152,988
65,484,768
22,340,772
101,651,827
10,583,830
7,358,861
14,166,060
9,194,307
43,635,814
1,955,724
1,779,065
41,856,749
1,474,167
17,017,853

8,652,136
6,780,848
92,715
1,778,573
(126,721)
81,255,385
1,654,759
5,561,411
58,147,204
15,892,011
89,780,800
7,706,034
2,735,953
10,155,661
33,122,217
31,204,853
3,158,076
2,959,824
28,245,029
1,266,456
6,549,450

9,139,755
6,812,671
125,573
2,201,511
(274,283)
88,488,440
1,164,263
4,342,038
68,304,814
14,677,325
97,353,912
7,001,789
1,396,604
11,410,316
50,236,317
23,731,204
4,309,629
4,486,991
19,244,213
865,640
7,199,033

10,919,505
6,812,671
149,286
3,957,548
(153,137)
86,136,429
2,028,623
11,231,101
61,678,515
11,198,190
96,902,797
6,990,879
1,149,455
1,339,057
60,399,022
24,278,087
5,506,335
5,457,684
18,820,403
634,699
7,569,282

9,020,401
6,812,671
154,932
2,052,798
16,512
76,134,897
2,185,724
141,666
64,293,565
9,513,942
85,171,810
6,770,561
6,035,738
14,913,193
31,339,172
24,441,680
6,207,490
6,185,998
18,255,682
366,664
7,490,800

9,943,656
4,144,702
5,798,954
4,058,001
1,740,953
3,546,047
5,168,151
5,127,991
118,849
800,362

9,983,377
4,720,788
5,262,589
3,285,903
1,976,686
2,449,934
4,124,032
3,987,382
302,588
88,973

9,373,975
4,241,090
5,132,885
1,942,347
3,190,538
2,053,698
4,047,233
3,879,891
1,197,003
422,938

10,279,671
4,580,040
5,699,631
1,171,851
4,527,780
2,049,204
4,053,148
4,002,884
2,523,836
1,756,037

8,262,997
3,030,151
5,232,846
822,094
4,410,752
2,455,997
4,546,244
4,479,324
2,320,505
1,423,241

(1,086,131)
255,409,196

17,837,265
287,394,471

1,562,704
307,209,267

1,320,908
273,951,876

860,554
166,965,936

58.32%
5.70%
8.42%
0.79%
3.49%
1.71%
41.68%
43.15
38.31%
1.45

52.71%
5.86%
1.03%
0.10%
2.73%
2.20%
47.29%
13.18
33.17%
1.63

54.76%
5.27%
4.63%
0.43%
2.11%
3.28%
45.24%
3.24
35.42%
1.89

55.45%
5.88%
16.08%
1.81%
2.11%
4.67%
44.55%
1.59
32.88%
1.95

63.33%
6.14%
15.78%
1.67%
2.88%
5.18%
36.67%
1.93
42.41%
1.82

17.65%
9.04%
41.18%
64.42%
91.13%
66.64%
63.57%

11.63%
36.89%
31.46%
64.77%
90.50%
53.67%
48.98%

8.63%
51.60%
19.77%
70.16%
90.89%
34.74%
32.67%

8.40%
62.33%
19.42%
63.65%
88.89%
39.36%
33.30%

15.04%
36.80%
21.43%
75.49%
89.39%
38.02%
37.93%

4.48%
4.08%
20.57%
228.10%
90.97%

10.12%
9.49%
36.50%
111.02%
93.72%

18.16%
18.91%
47.15%
43.29%
104.12%

22.68%
22.48%
50.43%
21.47%
99.12%

25.40%
25.31%
68.82%
13.29%
99.65%

9.35%
26.86
6.89

9.64%
33.22
6.72

9.39%
33.61
7.47

11.27%
25.09
5.65

10.59%
18.51
7.13

-1.36

200.48

3.69

0.75

0.60

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

66

Financial Statement Analysis of Financial Sector

DEUTSCHE BANK AG
Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

4,634,445
3,600,702
0
1,033,743
(232)
17,095,525
1,683,524
532,521
10,317,214
4,562,266
21,729,738
4,754,734
1,628,093
5,309,670
999,390
6,374,949
312,566
40,343
6,334,606
130,225
2,573,020

5,169,257
3,877,033
0
1,292,224
(34)
10,013,789
217,050
1,063,547
6,005,209
2,727,983
15,183,012
4,764,709
128,632
5,350,170
490,909
3,838,528
381,517
381,517
3,457,011
120,382
871,199

5,274,418
3,667,876
0
1,606,542
(321)
12,160,786
2,640,728
443,891
6,065,947
3,010,220
17,434,883
4,722,669
37,134
6,223,146
2,046,309
3,665,213
3,245,948
419,265
3,245,948
110,230
1,049,447

6,047,337
3,724,146
0
2,323,191
(11,538)
16,205,772
238,907
1,523,062
11,118,869
3,324,934
22,241,571
4,590,065
38,505
7,640,386
5,587,411
3,387,183
376,923
400,165
2,987,018
199,014
1,199,172

5,971,021
4,115,584
0
1,855,437
(9,557)
22,987,100
297,362
317,883
18,354,233
4,017,622
28,948,564
5,630,489
2,058,913
7,414,392
7,747,304
4,369,198
357,570
389,684
3,979,514
351,955
1,765,997

1,041,031
400,017
641,014
48,069
592,945
1,053,202
815,012
813,878
831,135
534,135

1,111,138
242,280
868,858
354,287
514,571
1,599,341
871,160
863,450
1,242,752
805,218

1,065,750
324,744
741,006
25,263
715,743
1,221,476
653,051
653,431
1,284,168
834,293

1,679,978
556,558
1,123,420
21,094
1,144,514
725,355
766,074
759,389
1,103,795
708,236

1,969,771
868,297
1,101,474
(32,447)
1,133,921
588,282
1,171,490
1,170,880
550,713
350,827

(266,446)
98,796,853

(1,742,550)
41,259,232

2,084,285
66,714,952

3,503,275
101,411,632

5,812,077
78,834,402

61.57%
2.95%
11.53%
2.46%
4.85%
2.73%
38.43%
0.98
38.92%
0.77

78.20%
5.72%
15.58%
5.30%
10.53%
3.39%
21.80%
0.69
32.14%
0.54

69.53%
4.25%
15.82%
4.79%
7.01%
4.11%
30.47%
0.51
28.55%
0.53

66.87%
5.05%
11.71%
3.18%
3.26%
5.15%
33.13%
0.69
31.85%
1.05

55.92%
3.80%
5.88%
1.21%
2.03%
3.92%
44.08%
2.13
45.80%
1.99

29.37%
4.60%
29.15%
47.48%
78.67%
61.79%
58.76%

32.23%
3.23%
22.77%
39.55%
65.95%
63.92%
54.30%

27.30%
11.74%
18.62%
34.79%
69.75%
60.42%
56.30%

20.81%
25.12%
13.43%
49.99%
72.86%
30.46%
26.79%

26.56%
26.76%
13.75%
63.40%
79.41%
23.80%
23.40%

4.90%
0.63%
6.74%
119.15%
12.91%

9.94%
9.94%
7.38%
92.86%
100.00%

88.56%
11.44%
61.54%
6.03%
12.92%

11.13%
11.81%
6.23%
5.27%
106.17%

8.18%
8.92%
5.99%
-8.33%
108.98%

21.33%
21.32
2.23

34.05%
7.98
1.16

30.25%
12.65
1.15

27.19%
16.77
1.84

20.63%
13.20
3.07

-0.50

-2.16

2.50

4.95

16.57

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

67

Financial Statement Analysis of Financial Sector

HSBC BANK MIDDLE EAST LIMITED


Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

4,962,015
4,339,547
0
622,468
(5,034)
43,916,081
587,298
4,770,659
37,005,085
1,553,039
48,873,062
7,577,335
4,266,775
7,354,749
1,941,950
25,591,220
223,085
288,253
25,302,967
509,574
1,919,712

5,511,880
4,619,535
0
892,345
(1,002)
46,223,063
989,256
3,073,493
40,796,993
1,363,321
51,733,941
8,411,801
4,035,306
8,698,829
5,431,713
23,701,592
500,638
453,161
23,248,431
410,901
1,496,960

6,206,372
5,707,268
0
499,104
(7,349)
50,739,967
1,341,130
1,255,575
46,460,640
1,682,622
56,938,990
9,954,810
297,338
16,076,728
6,512,700
22,727,260
762,869
484,827
22,242,433
266,120
1,588,861

7,501,898
6,515,987
0
985,911
3,865
51,849,969
1,023,903
2,686,405
46,171,420
1,968,241
59,355,732
10,925,914
341,149
3,868,938
22,119,633
21,215,325
1,023,475
421,799
20,793,526
186,288
1,120,284

7,644,275
7,037,870
0
606,405
(289)
42,684,107
670,778
694,363
38,956,795
2,362,171
50,328,093
11,394,218
711,950
4,966,709
13,433,740
18,454,437
1,441,219
868,260
17,586,177
132,396
2,102,903

4,071,742
2,443,593
1,628,149
265,346
1,362,803
849,974
1,952,124
1,949,088
260,653
161,565

4,703,682
2,732,216
1,971,466
471,333
1,500,133
1,021,563
2,200,197
2,200,186
321,499
261,885

5,005,567
(2,713,791)
2,291,776
363,563
1,928,213
1,005,725
2,176,393
2,171,268
757,545
491,592

5,849,015
2,932,772
2,916,243
102,962
2,813,281
1,140,661
2,443,031
2,442,861
1,510,911
971,262

4,555,975
2,326,385
2,229,590
525,527
1,704,063
917,525
3,109,212
3,109,165
(487,624)
(396,257)

6,500,868
29,264,954

3,889,177
34,619,778

(1,289,280)
58,032,008

16,303,670
53,617,196

(8,355,184)
39,915,060

39.99%
3.33%
3.26%
0.33%
1.74%
2.79%
60.01%
7.48
39.66%
2.29

41.91%
3.81%
4.75%
0.51%
1.97%
2.90%
58.09%
6.84
38.43%
2.15

45.78%
13.56%
7.92%
0.86%
1.77%
3.39%
-54.22%
2.87
36.21%
2.16

49.86%
4.91%
12.95%
1.64%
1.92%
4.74%
50.14%
1.62
34.95%
2.14

48.94%
4.43%
-5.18%
-0.79%
1.82%
3.39%
51.06%
-6.38
56.80%
3.39

24.23%
3.97%
51.77%
75.72%
89.86%
69.16%
61.26%

24.06%
10.50%
44.94%
78.86%
89.35%
58.10%
54.03%

18.01%
11.44%
39.06%
81.60%
89.11%
48.92%
47.63%

18.98%
37.27%
35.03%
77.79%
87.35%
45.95%
43.42%

24.05%
26.69%
34.94%
77.41%
84.81%
47.37%
46.54%

0.87%
1.13%
4.50%
92.05%
129.21%

2.11%
1.91%
9.08%
104.01%
90.52%

3.36%
2.13%
12.29%
74.99%
63.55%

4.82%
1.99%
13.64%
24.41%
41.21%

7.81%
4.70%
18.85%
60.53%
60.24%

10.15%
5.90
7.46

10.65%
6.28
7.40

10.90%
9.35
7.49

12.64%
7.15
6.15

15.19%
5.22
5.10

40.24

14.85

-2.62

16.79

21.09

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

68

Financial Statement Analysis of Financial Sector

HSBC BANK OMAN S.A.O.G.


Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

2,712,141
3,008,999
0
(296,858)
0
729,806
4,036
186,406
521,574
17,790
3,441,947
3,088,841
38,910
0
0
315,802
83,218
38,713
277,089
15,071
22,036

2,847,576
3,203,140
0
(355,564)
0
1,097,875
7,577
382,008
690,196
18,094
3,945,451
3,328,022
52,781
150,000
0
425,108
36,416
37,885
387,223
10,461
16,964

3,000,780
3,393,743
0
(392,963)
0
1,200,251
5,493
321,910
847,792
25,056
4,201,031
3,363,076
62,870
110,000
0
493,328
48,503
15,716
477,612
22,983
164,490

3,132,302
3,594,610
0
(462,308)
0
1,270,263
11,523
510,729
721,474
26,537
4,402,565
3,679,994
61,674
30,000
0
587,062
49,740
15,716
571,346
30,670
28,881

3,103,582
3,882,512
0
(778,930)
0
1,040,788
5,266
440,000
570,705
24,817
4,144,370
3,985,841
39,379
0
0
305,050
224,468
224,468
80,582
31,027
7,541

40,426
50,080
(9,654)
21,729
12,075
9,549
62,888
57,280
(41,264)
(41,264)

56,707
75,569
(18,862)
828
(18,034)
17,597
58,269
55,148
(58,706)
(58,706)

65,106
78,041
(12,935)
22,169
9,234
12,582
59,215
59,134
(37,399)
(37,399)

75,896
90,575
(14,679)
0
(14,679)
14,611
69,277
69,172
(69,345)
(69,345)

48,954
98,030
(49,076)
208,752
(257,828)
19,679
78,473
78,471
(316,622)
(316,622)

21,302,169
729,519

59,369
450,421

17,017
1,013,597

130,395
1,402,122

4,992
77,571

-23.88%
-0.28%
-1.52%
-1.20%
0.28%
0.35%
123.88%
-1.39
125.84%
6.00

-33.26%
-0.48%
-2.06%
-1.49%
0.45%
-0.46%
133.26%
-0.94
78.42%
3.13

-19.87%
-0.31%
-1.25%
-0.89%
0.30%
0.22%
119.87%
-1.58
76.22%
4.70

-19.34%
-0.33%
-2.21%
-1.58%
0.33%
-0.33%
119.34%
-1.00
76.54%
4.73

-100.25%
-1.18%
-10.20%
-7.64%
0.47%
-6.22%
200.25%
-0.25
114.34%
3.99

90.87%
0.00%
8.05%
15.15%
21.20%
60.55%
44.61%

85.69%
0.00%
9.81%
17.49%
27.83%
61.59%
39.65%

81.55%
0.00%
11.37%
20.18%
28.57%
58.19%
42.18%

84.99%
0.00%
12.98%
16.39%
28.85%
81.37%
47.64%

97.13%
0.00%
1.94%
13.77%
25.11%
53.45%
30.18%

26.35%
12.26%
3.07%
56.13%
46.52%

8.57%
8.91%
1.28%
2.19%
104.03%

9.83%
3.19%
1.62%
141.06%
32.40%

8.47%
2.68%
1.59%
0.00%
31.60%

73.58%
73.58%
7.23%
93.00%
100.00%

78.80%
0.27
0.19

72.17%
0.16
0.24

71.43%
0.34
0.28

71.15%
0.45
0.23

74.89%
0.02
0.18

-516.24

-1.01

-0.46

-1.88

-0.02

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

69

Financial Statement Analysis of Financial Sector

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED


Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

3,008,554
3,192,892
0
(184,338)
1,758
2,942,052
22,397
0
1,524,071
1,395,584
5,952,364
3,279,813
64,398
782,528
1,484,124
26,243
0
0
26,243
294,316
20,942

3,142,265
3,506,910
0
(364,645)
6,436
18,898,915
738
12,221,381
4,167,644
2,509,152
22,047,616
4,063,541
1,336,371
1,554,395
13,596,093
56,596
0
0
56,596
316,663
1,123,957

56,241
46,347
9,894
0
9,894
594
194,826
194,826
(184,338)
(184,338)

771,801
682,804
88,997

17.59%
0.17%
-6.13%
-3.10%
0.01%
0.17%
82.41%
-1.06
342.79%
327.99

11.53%
0.40%
-5.74%
-0.82%
0.64%
0.40%
88.47%
-2.28
44.98%
2.90

56.18%
24.93%
0.44%
25.60%
49.43%
1.72%
1.72%

24.49%
61.67%
0.26%
18.90%
85.72%
1.36%
0.35%

0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

50.54%
0.36
0.51

14.25%
33.90
1.33

-14.75

-81.42

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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

88,997
141,495
410,799
410,799
(180,307)
(180,307)

E.Other items
1.Cash generated from operating activities
2.Commitments and contingencies

2,718,782
1,081,945

14,680,059
106,530,014

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

70

Financial Statement Analysis of Financial Sector

THE BANK OF TOKYO-MITSUBISHI-UFJ, LIMITED


Items
A.Total equity (A1 to A3)
1.Head office capital account
2.Reserves
3.Unremitted 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 banks
2.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

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

3,957,242
3,878,698
0
78,544
0
6,106,000
12,559
4,258,351
1,715,912
119,178
10,063,242
4,072,080
36,983
1,597,697
0
4,092,787
0
0
4,092,787
19,422
244,273

4,087,588
4,041,323
0
46,265
0
4,458,128
216,907
1,397,725
2,740,049
103,447
8,545,716
4,237,350
91,075
1,905,551
0
2,198,843
0
0
2,198,843
27,336
85,561

4,700,427
4,652,493
0
47,934
0
4,343,431
9,419
1,868,489
2,349,722
115,801
9,043,858
4,840,033
88,400
1,013,607
0
2,980,932
113,339
0
2,980,932
30,055
90,831

5,155,321
5,122,691
0
32,630
0
3,240,864
86,567
1,075,726
1,991,569
87,002
8,396,185
5,283,777
123,553
654,928
0
2,214,722
0
0
2,214,722
28,937
90,268

5,064,270
4,986,139
0
78,131
0
3,207,778
3,626
708,495
2,402,290
93,367
8,272,048
5,194,721
108,570
1,253,832
0
1,619,237
0
0
1,619,237
29,598
66,090

538,145
391,186
146,959
0
146,959
80,485
103,346
97,011
124,098
78,396

516,130
385,251
130,879
0
130,879
180,185
114,573
112,088
65,612
45,928

509,987
406,928
103,059
0
103,059
184,717
114,543
113,080
70,174
47,600

569,784
468,924
100,860
0
100,860
103,131
141,791
140,422
62,200
33,790

363,279
295,278
68,001
0
68,001
156,729
154,193
152,604
70,537
45,501

202,342
4,958,383

151,296
3,781,342

46,074
2,780,898

65,752
3,244,830

42,734
1,905,826

27.31%
1.46%
1.98%
0.78%
0.80%
1.46%
72.69%
0.78
16.71%
1.21

25.36%
1.53%
1.12%
0.54%
2.11%
1.53%
74.64%
1.71
16.45%
0.62

20.21%
1.14%
1.01%
0.53%
2.04%
1.14%
79.79%
1.61
16.49%
0.61

17.70%
1.20%
0.66%
0.40%
1.23%
1.20%
82.30%
2.26
21.07%
1.36

18.72%
0.82%
0.90%
0.55%
1.89%
0.82%
81.28%
2.16
29.65%
0.97

40.83%
0.00%
40.67%
17.05%
60.68%
238.52%
68.51%

50.65%
0.00%
25.73%
32.06%
52.17%
80.25%
53.14%

54.49%
0.00%
32.96%
25.98%
48.03%
126.86%
70.67%

64.40%
0.00%
26.38%
23.72%
38.60%
111.20%
72.20%

64.11%
0.00%
19.57%
29.04%
38.78%
67.40%
52.05%

0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

3.80%
0.00%
2.41%

0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

0.00%

39.32%
1.25
0.43

47.83%
0.93
0.67

51.97%
0.59
0.50

61.40%
0.63
0.39

61.22%
0.38
0.47

2.58

3.29

0.97

1.95

0.94

D.Profit & loss account


1.Markup/interest earned
2.Markup/interest expenses
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.Cash generated from operating activities
2.Commitments and contingencies

F.Efficiency ratios/Profitability ratios


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. exp. to non-markup/interest income (D8/D6) (times)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C1+C2)/C
2.Investment to total assets (C4/C)
3.Advances net of provision to total assets (C8/C)
4.Deposits to total assets ( B3/C)
5.Total liabilities to total assets (B/C)
6.Gross advances to deposit (C5/B3)
7.Gross advances to borrowing & deposit C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provision (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital/leverage ratios
1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E2/A) (times)
3.Total deposit to total equity (B3/A) (times)

J.Cash flow ratio


1.Cash generated from operating activities to profit after tax (E1/D10) (times)

71

Financial Statement Analysis of Financial Sector

2012

DEVELOPMENT FINANCE INSTITUTIONS (DFIS)


PERFORMANCE AT A GLANCE
The balance sheet size of DFIs increased during 2012. Shareholders equity registered a reduction of
0.9 percent over the last year. The profit before taxation decreased by 25.8 percent and profit after
taxation by 34.0 percent during the year.

ANALYSIS OF BALANCE SHEET COMPONENTS


Shareholders equity decreased from Rs 58.9
witnessing a decline of Rs 0.5 billion or 0.9
percent over CY11. Total liabilities shrunk by
Rs. 9.6 billion during CY12, similarly, total
assets decreased from Rs 130.5 billion in CY11
to Rs 121.6 billion in CY12.

ANALYSIS OF LIABILITIES

Billion Rs.

billion in CY11 to Rs 58.4 billion in CY12

140
120
100
80
60
40
20
0

-1%
-7%
-14%
Total SHE

Total
Liabilities

Total Assets

CY 11

58.9

70.9

130.5

CY 12

58.4

61.3

121.6

Growth

-1%

-14%

-7%

0%
-2%
-4%
-6%
-8%
-10%
-12%
-14%
-16%

Growth

Components of Balance Sheets

Looking at the liabilities side, borrowings from financial institutions decreased from Rs 54.6 billion in
CY11 to Rs. 43.7 billion in CY12. The analysis revealed that decrease in liabilities has mainly been
Share of Borrowings in Total Liabilities

60.0
50.0
40.0
30.0
20.0
10.0
0.0

9%
0%
-20%
Borrowings

Deposits

Others

CY 11

54.6

12.9

3.4

CY 12

43.7

14.2

3.5

Growth

-20%

9%

0%

15%
10%
5%
0%
-5%
-10%
-15%
-20%
-25%

Growth

Billion Rs.

Major Components of Liabilities

100%

5%
18%

6%
23%

50%

77%

71%

0%
CY 11
Borrowings

CY 12
Deposits

Others

due to borrowings from financial institutions. The other component was the deposits which
contributed 23.1 percent of total liabilities during CY12. Total deposits of DFIs stood at Rs. 14.2
billion witnessing an increase of Rs. 1.2 billion in CY12 over CY11.

72

Financial Statement Analysis of Financial Sector

2012

ANALYSIS OF ASSETS
In CY12, total assets stood at Rs
decreased

by

Major components of assets

6.9

percent when compared to previous


year. The analysis of components of
total assets revealed that investment
activities of DFIs and lending to
financial

institutions

decreased

during CY12. The amount of lending


to financial institutions decreased

90
80
70
60
50
40
30
20
10
0

10%

7%

2% 0%
-8%

-10%
-20%
-30%
-40%
-50%

-41%
Cash &
Cash
Equivalent

Lending

Investmen
t

Advances

CY 11

3.4

2.9

76.7

45.9

CY 12

3.6

1.7

70.4

46.9

Growth

7%

-41%

-8%

2%

Growth

billion

Billion Rs.

121.6

from Rs 2.9 billion in CY11 to Rs 1.7 billion in CY12 recording a decrease of around 41.4 percent
over CY11.
On the other hand, advances of DFIs
50.0

from 35.2 percent in CY11 to 38.6

40.0

percent in CY12. NPLs increased


from Rs 8.3 billion in CY11 to Rs

Billion Rs.

its share in total assets also increased

27%

26%

30.0
20.0

30%
25%
20%
15%
10%
5%
0%
-3%
-5%
Adv. Net

10.5 billion in CY12 depicting an

10.0

increase of 27.2 percent in NPLs.

0.0

Adv. Gross

NPL

Provision

NPLs

CY 11

45.9

8.3

7.6

38.3

CY 12

46.9

10.5

9.6

37.3

Growth

2%

27%

26%

-3%

to

gross

advances

ratio

increased from 18.0 percent in CY11

2%

Growth

Major Components of Advances

increased by 2.2 percent over CY11,

to 22.4 percent in CY12.

PROFITABILITY OF DFI S
In terms of profitability, CY12 witnessed decreases both in profits before and after taxation. Profit
before taxation decreased from Rs. 3.0 billion in CY11 to Rs. 2.2 billion in CY12 showing a decrease
of 25.8 percent.

73

Financial Statement Analysis of Financial Sector

3.0
43.8%

3.0

41.0%

40.0%

CY 11

30.0%

CY 12

Billions Rs.

50.0%

2012

20.0%

2.5

2.2

2.0
1.5

1.0

1.0

CY 11
0.6

CY 12

0.5

10.0%

1.6% 1.1%

0.0

0.7% 0.5%

Profit Before
Taxation

0.0%

Spread Ratio

ROE

Profit After
Taxation

ROA

Return on assets (ROA) declined from 0.7 percent in CY11 to 0.5 percent in CY12, similarly, return
on equity (ROE) decreased from 1.6 percent in CY11 to 1.1 percent in CY12. Spread ratio of DFIs
decreased by 6.2 percent in CY12 over CY11. Breakup value of DFIs decreased from Rs 14.96 per
share in CY11 to Rs 14.82 per share in CY12.

74

Financial Statement Analysis of Financial Sector

DFIs - Overall
Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

46,902,253
39,748,980
11,124,218
(3,970,945)
(656,553)
38,833,942
0
30,937,172
5,880,621
2,016,149
85,079,642
650,959
10,252,671
8,056,730
36,071,855
27,407,033
4,816,698
3,698,407
23,708,626
2,690,082
3,648,719

48,920,410
40,748,980
6,764,011
1,407,419
5,409,974
59,424,672
0
38,774,252
18,073,599
2,576,821
113,755,056
1,665,533
6,545,275
10,576,282
58,551,142
35,183,101
6,695,174
5,753,542
29,429,559
2,790,590
4,196,675

55,379,067
42,748,980
6,764,483
5,865,604
3,644,111
60,024,391
0
39,953,645
17,059,825
3,010,921
119,047,569
1,680,678
2,888,128
7,718,006
60,243,944
44,215,053
6,903,217
6,653,026
37,562,027
3,126,353
5,828,433

58,948,556
45,408,180
6,703,489
6,836,887
652,903
70,945,188
0
54,574,307
12,932,378
3,438,503
130,546,647
2,283,859
1,075,003
2,904,651
76,683,192
45,907,661
8,269,274
7,596,199
38,311,462
2,999,119
6,289,361

58,402,277
45,408,180
5,753,413
7,240,684
1,808,410
61,348,191
0
43,741,281
14,154,064
3,452,846
121,558,878
1,854,180
1,747,696
1,702,073
70,420,052
46,919,302
10,521,098
9,582,748
37,336,554
3,316,718
5,181,605

8,483,284
4,855,654
3,627,630
6,171,391
(1,804,158)
7,621,120
3,308,278
1,196,516
1,694,081
1,195,447

10,429,986
5,768,136
4,661,850
2,660,700
1,489,660
1,458,885
1,417,421
1,363,810
1,531,026
2,147,069

11,726,433
6,694,582
5,031,851
987,572
4,143,390
2,086,005
1,976,521
1,916,080
4,230,979
2,718,940

12,716,418
7,152,710
5,563,708
977,362
3,791,544
2,450,918
3,250,598
2,039,623
2,991,863
972,305

12,622,294
7,440,993
5,181,301
3,914,429
1,266,872
3,814,916
2,668,883
2,112,699
2,221,092
641,770

3,375,138

3,475,138

3,675,138

3,941,058

3,941,058

N/A
N/A
5,682,965
13,761,913

N/A
N/A
9,897,449
15,386,918

N/A
N/A
(1,328,783)
18,321,532

N/A
N/A
4,887,501
34,232,419

N/A
N/A
3,610,361
14,613,432

42.76%
4.26%
2.55%
1.41%
8.96%
-2.12%
57.24%
0.71
0.21
0.16
0.35

44.70%
4.10%
4.39%
1.89%
1.28%
1.31%
55.30%
0.89
0.12
0.93
0.62

42.91%
4.23%
4.91%
2.28%
1.75%
3.48%
57.09%
0.45
0.14
0.92
0.74

43.75%
4.26%
1.65%
0.74%
1.88%
2.90%
56.25%
0.68
0.21
0.83
0.25

41.05%
4.26%
1.10%
0.53%
3.14%
1.04%
58.95%
0.95
0.16
0.55
0.16

12.82%
42.40%
27.87%
6.91%
45.64%
466.06%
74.44%

7.22%
51.47%
25.87%
15.89%
52.24%
194.67%
61.89%

3.84%
50.60%
31.55%
14.33%
50.42%
259.18%
77.55%

2.57%
58.74%
29.35%
9.91%
54.34%
354.98%
68.00%

2.96%
57.93%
30.71%
11.64%
50.47%
331.49%
81.04%

17.57%
13.49%
10.27%
166.87%
76.78%

19.03%
16.35%
13.69%
46.24%
85.94%

15.61%
15.05%
12.47%
14.84%
96.38%

18.01%
16.55%
14.03%
12.87%
91.86%

22.42%
20.42%
18.01%
40.85%
91.08%

55.13%
0.29
13.90
0.13

43.01%
0.31
14.08
0.37

46.52%
0.33
15.07
0.31

45.16%
0.58
14.96
0.22

48.04%
0.25
14.82
0.24

4.75

4.61

-0.49

5.03

5.63

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

75

Financial Statement Analysis of Financial Sector

PAIR INVESTMENT CO. LTD.


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,446,253
5,000,000
89,250
357,003
(123,267)
492,480
0
459,657
0
32,823
5,815,466
506,887
1,816,376
611,000
2,440,498
402,318
75,000
37,500
364,818
21,478
54,409

5,817,670
5,000,000
163,533
654,137
475,848
1,991,936
0
1,857,327
0
134,609
8,285,454
2,633
1,309,451
446,250
5,326,675
1,174,878
443,011
229,491
945,387
26,071
228,987

7,396,027
6,000,000
279,204
1,116,823
38,418
3,036,164
0
2,863,481
0
172,683
10,470,609
10,552
352,808
600,000
7,160,982
2,178,571
75,141
75,141
2,103,430
44,762
198,075

7,638,576
6,000,000
327,714
1,310,862
92,121
4,114,422
0
3,695,484
260,000
158,938
11,845,119
9,143
20,675
0
8,974,337
2,592,810
393,141
117,654
2,475,156
48,060
317,748

8,028,600
6,000,000
415,719
1,612,881
170,767
7,537,154
0
6,721,178
545,080
270,896
15,736,521
43,999
106,586
0
10,841,572
4,530,491
741,447
205,154
4,325,337
56,047
362,980

527,054
31,898
495,156
(37,500)
457,656
94,762
82,513
73,115
469,905
318,146

809,863
124,744
685,119
(255,745)
429,374
163,699
110,083
97,529
482,990
371,417

1,030,191
193,494
836,697
79,955
916,652
171,171
209,239
191,647
878,584
578,357

1,323,067
402,712
920,355
(324,136)
596,219
58,340
167,757
150,135
486,802
242,549

1,487,341
678,102
809,239
106,953
702,286
172,091
239,010
224,405
635,367
440,024

500,000
0.00%
0.00%
378,383
486,955

500,000
0.00%
0.00%
1,287,294
2,284,428

600,000
0.00%
0.00%
448,811
3,095,251

600,000
0.00%
0.00%
1,708,563
3,679,976

600,000
0.00%
0.00%
1,966,241
8,074,015

93.95%
8.51%
5.84%
5.47%
1.63%
7.87%
6.05%
0.16
0.13
0.77
0.64

84.60%
8.27%
6.38%
4.48%
1.98%
5.18%
15.40%
0.20
0.11
0.60
0.74

81.22%
7.99%
7.82%
5.52%
1.63%
8.75%
18.78%
0.22
0.17
1.12
0.96

69.56%
7.77%
3.18%
2.05%
0.49%
5.03%
30.44%
0.31
0.12
2.57
0.40

54.41%
5.14%
5.48%
2.80%
1.09%
4.46%
45.59%
0.35
0.14
1.30
0.73

39.95%
41.97%
6.27%
0.00%
8.47%

15.84%
64.29%
11.41%
0.00%
24.04%

3.47%
68.39%
20.09%
0.00%
29.00%

0.96%
68.89%
27.49%
3.46%
47.90%
831.16%
62.35%

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

87.53%

63.26%

76.08%

0.25%
75.76%
20.90%
2.19%
34.74%
997.23%
65.55%

18.64%
9.32%
1.38%
-100.00%
50.00%

37.71%
19.53%
7.61%
-111.44%
51.80%

3.45%
3.45%
1.02%
106.41%
100.00%

15.16%
4.54%
5.15%
-275.50%
29.93%

16.37%
4.53%
9.24%
52.13%
27.67%

93.65%
0.09
10.89
0.00

70.22%
0.39
11.64
0.00

70.64%
0.42
12.33
0.00

64.49%
0.48
12.73
0.03

51.02%
1.01
13.38
0.07

1.19

3.47

0.78

7.04

4.47

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

76

Financial Statement Analysis of Financial Sector

PAK BRUNEI INVESTMENT COMPANY LIMITED


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,363,009
5,000,000
72,602
290,407
(81,849)
247,733
0
186,154
0
61,579
5,528,893
4,267
14,870
1,519,299
2,687,585
1,062,744
0
0
1,062,744
44,334
195,794

5,810,462
5,000,000
162,093
648,369
495,517
5,825,000
0
5,296,808
395,000
133,192
12,130,979
23,869
191,915
1,507,910
8,415,996
1,757,624
0
25,131
1,732,493
37,614
221,182

7,391,552
6,000,000
278,311
1,113,241
(48,993)
7,026,052
0
5,943,385
844,000
238,667
14,368,611
30,803
129,969
1,222,727
9,868,363
2,475,172
6,736
7,529
2,467,643
21,013
628,093

7,996,016
6,000,000
399,204
1,596,812
(68,113)
24,617,113
0
23,359,531
979,018
278,564
32,545,016
174,790
562,085
627,841
25,742,364
4,667,373
2,992
20,712
4,646,661
34,067
757,208

8,578,415
6,000,000
555,884
2,022,531
1,118
5,466,904
0
2,417,139
2,824,924
224,841
14,046,437
54,763
317,222
0
7,100,816
5,782,035
2,638
2,638
5,779,397
60,329
733,910

672,254
131,801
540,453
108,921
431,532
85,608
143,675
118,675
373,465
222,266

971,221
207,450
763,771
192,918
570,853
254,064
157,743
132,343
667,174
447,453

1,698,132
777,987
920,145
81,344
838,801
211,963
169,106
165,145
881,658
581,090

2,397,223
1,469,277
927,946
86,874
841,072
283,965
204,908
204,669
920,129
604,464

2,930,250
2,044,815
885,435
(4,019)
889,454
429,092
216,918
212,181
1,080,944
782,399

500,000
0.00%
0.00%
(1,218,859)
448,894

500,000
0.00%
0.00%
5,487,232
1,141,106

600,000
0.00%
0.00%
1,076,382
6,331,452

600,000
0.00%
0.00%
9,066,170
21,546,987

600,000
0.00%
0.00%
(11,776,654)
868,306

80.39%
9.78%
4.14%
4.02%
1.55%
7.81%
19.61%
0.32
0.19
1.39
0.44

78.64%
6.30%
7.70%
3.69%
2.09%
4.71%
21.36%
0.20
0.13
0.52
0.89

54.19%
6.40%
7.86%
4.04%
1.48%
5.84%
45.81%
0.19
0.09
0.78
0.97

38.71%
2.85%
7.56%
1.86%
0.87%
2.58%
61.29%
0.22
0.08
0.72
1.01

30.22%
6.30%
9.12%
5.57%
3.05%
6.33%
69.78%
0.20
0.06
0.49
1.30

0.35%
48.61%
19.22%
0.00%
4.48%

1.78%
69.38%
14.28%
3.26%
48.02%
444.97%
30.88%

1.12%
68.68%
17.17%
5.87%
48.90%
293.27%
36.47%

2.26%
79.10%
14.28%
3.01%
75.64%
476.74%
19.18%

2.65%
50.55%
41.14%
20.11%
38.92%
204.68%
110.30%

0.00%
1.43%
0.00%
767.65%

0.27%
0.30%
0.09%
1,080.41%
111.77%

0.06%
0.44%
0.04%
419.44%
692.25%

0.05%
0.05%
0.03%
-152.35%
100.00%

97.00%
0.08
10.73
0.00

47.90%
0.20
11.62
0.07

51.44%
0.86
12.32
0.11

24.57%
2.69
13.33
0.12

61.07%
0.10
14.30
0.33

-5.48

12.26

1.85

15.00

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

570.90%

H.Assets quality ratios


0.00%
0.00%
0.00%

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


2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

77

-15.05

Financial Statement Analysis of Financial Sector

PAK CHINA INVESTMENT CO. LTD.


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

6,811,647
6,457,200
70,889
283,558
(625)
757,178
0
726,754
0
30,424
7,568,200
6,670
3,772,069
255,482
1,430,241
1,938,595
0
0
1,938,595
28,115
137,028

7,325,189
6,457,200
173,598
694,391
2,526,213
1,089,244
0
975,685
0
113,559
10,940,646
1,363,660
9,148
1,245,029
3,158,326
4,927,264
0
247,273
4,679,991
187,828
296,664

7,885,555
6,457,200
285,671
1,142,684
2,591,648
1,156,757
0
1,132,259
0
24,498
11,633,960
1,399,836
8,736
1,264,140
3,099,787
5,557,525
0
248,632
5,308,893
180,566
372,002

11,058,455
9,116,400
388,411
1,553,644
766
119,094
0
106,874
0
12,220
11,178,315
1,491,717
23,227
583,954
4,077,544
4,901,692
377,756
464,032
4,437,660
176,177
388,036

11,058,455
9,116,400
388,411
1,553,644
766
119,094
0
106,874
0
12,220
11,178,315
1,491,717
23,227
583,954
4,077,544
4,901,692
377,756
464,032
4,437,660
176,177
388,036

530,032
6,215
523,817
50,000
473,817
17,395
165,585
71,067
325,627
211,658

1,050,697
36,435
1,014,262
197,273
816,989
138,830
165,756
165,706
790,065
513,542

1,252,143
283,899
968,244
41,361
866,084
176,223
180,206
180,205
862,102
560,366

1,312,686
47,666
1,265,020
175,398
943,092
133,437
208,924
208,403
867,605
513,700

1,312,686
47,666
1,265,020
175,398
1,089,622
133,437
208,924
208,403
867,605
513,700

645,720
0.00%
0.00%
(15,893)
1,078,614

645,720
0.00%
0.00%
(3,029,800)
1,753,996

645,720
0.00%
0.00%
(81,735)
865,132

911,640
0.00%
0.00%
1,169,605
231,127

911,640
0.00%
0.00%
1,169,605
231,127

98.83%
6.92%
3.11%
2.80%
0.23%
6.26%
1.17%
0.22
0.30
4.09
0.33

96.53%
9.27%
7.01%
4.69%
1.27%
7.47%
3.47%
0.21
0.14
1.19
0.80

77.33%
8.32%
7.11%
4.82%
1.51%
7.44%
22.67%
0.21
0.13
1.02
0.87

96.37%
11.32%
4.65%
4.60%
1.19%
8.44%
3.63%
0.24
0.14
1.56
0.56

96.37%
11.32%
4.65%
4.60%
1.19%
9.75%
3.63%
0.24
0.14
1.56
0.56

49.93%
18.90%
25.62%
0.00%
10.00%

12.55%
28.87%
42.78%
0.00%
9.96%

12.11%
26.64%
45.63%
0.00%
9.94%

13.55%
36.48%
39.70%
0.00%
1.07%

13.55%
36.48%
39.70%
0.00%
1.07%

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

266.75%

505.01%

490.84%

4,586.42%

4,586.42%

0.00%
0.00%
0.00%

0.00%
5.02%
0.00%
79.78%

0.00%
4.47%
0.00%
16.64%

7.71%
9.47%
3.42%
37.80%
122.84%

7.71%
9.47%
3.42%
37.80%
122.84%

90.00%
0.16
10.55
0.00

66.95%
0.24
11.34
0.00

67.78%
0.11
12.21
0.00

98.93%
0.02
12.13
0.00

98.93%
0.02
12.13
0.00

-0.08

-5.90

-0.15

2.28

2.28

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

78

Financial Statement Analysis of Financial Sector

PAK KUWAIT INVESTMENT CO. (PVT) LTD.


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

8,368,527
6,000,000
6,447,712
(4,079,185)
(58,946)
7,158,931
0
6,370,782
37,500
750,649
15,468,512
17,179
2,759,358
500,000
8,436,921
4,269,116
1,278,058
910,181
3,358,935
107,138
288,981

8,884,894
6,000,000
2,884,894
0
175,691
15,145,252
0
10,377,872
4,075,951
691,429
24,205,837
92,512
1,797,223
800,000
17,091,939
5,003,098
1,693,697
1,395,656
3,607,442
111,266
705,455

11,502,905
6,000,000
2,992,287
2,510,618
239,868
13,280,158
0
9,807,369
3,138,512
334,277
25,022,931
51,424
1,409,688
250,000
17,521,580
6,389,805
1,648,540
1,420,615
4,969,190
260,736
560,313

12,503,432
6,000,000
3,114,865
3,388,567
84,687
11,342,439
0
9,161,654
1,726,601
454,184
23,930,558
442,766
24,653
0
15,966,871
8,131,825
1,723,232
1,577,790
6,554,035
282,125
660,108

13,784,349
6,000,000
3,285,976
4,498,373
564,597
16,456,102
0
14,839,975
1,015,429
600,698
30,805,048
32,650
712,976
0
24,203,303
6,879,143
1,771,283
1,636,742
5,242,401
252,233
361,485

1,158,545
551,191
607,354
4,647,386
(4,040,032)
253,814
286,252
286,202
(4,072,470)
(4,102,069)

1,797,555
1,189,263
608,292
716,319
(108,027)
1,015,405
314,729
314,526
592,649
516,367

2,111,019
1,452,508
658,511
(37,100)
695,611
1,030,674
412,408
411,259
1,321,877
968,732

2,204,036
1,445,302
758,734
208,083
550,651
1,638,323
462,723
462,723
1,726,251
1,360,527

2,364,815
1,605,660
759,155
98,378
660,777
1,882,698
485,692
439,516
2,057,783
1,640,917

240
0.08%
0.00%
2,454,422
1,337,586

240
0.00%
0.00%
7,482,073
534,532

240
0.00%
0.00%
(2,336,821)
193,141

240
0.00%
0.00%
(3,341,852)
1,150,452

240
0.00%
0.00%
6,809,220
470,926

52.42%
3.93%
-49.02%
-26.52%
1.64%
-26.12%
47.58%
-0.07
0.20
1.13
-17,091.95

33.84%
2.51%
5.81%
2.13%
4.19%
-0.45%
66.16%
0.53
0.11
0.31
2,151.53

31.19%
2.63%
8.42%
3.87%
4.12%
2.78%
68.81%
0.31
0.13
0.40
4,036.38

34.42%
3.17%
10.88%
5.69%
6.85%
2.30%
65.58%
0.27
0.12
0.28
5,668.86

32.10%
2.46%
11.90%
5.33%
6.11%
2.15%
67.90%
0.21
0.11
0.23
6,837.15

17.95%
54.54%
21.71%
0.24%
46.28%
11,384.31%
66.62%

7.81%
70.61%
14.90%
16.84%
62.57%
122.75%
34.61%

5.84%
70.02%
19.86%
12.54%
53.07%
203.59%
49.36%

1.95%
66.72%
27.39%
7.22%
47.40%
470.97%
74.68%

2.42%
78.57%
17.02%
3.30%
53.42%
677.46%
43.39%

29.94%
21.32%
15.27%
510.60%
71.22%

33.85%
27.90%
19.06%
51.32%
82.40%

25.80%
22.23%
14.33%
-2.61%
86.17%

21.19%
19.40%
13.78%
13.19%
91.56%

25.75%
23.79%
12.85%
6.01%
92.40%

54.10%
0.16
34,868.86
0.00

36.71%
0.06
37,020.39
0.46

45.97%
0.02
47,928.77
0.27

52.25%
0.09
52,097.63
0.14

44.75%
0.03
57,434.79
0.07

-0.60

14.49

-2.41

-2.46

4.15

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

79

Financial Statement Analysis of Financial Sector

PAK LIBYA HOLDING COMPANY LIMITED


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

7,253,062
6,141,780
1,020,589
90,693
(1,600,269)
6,519,558
0
4,858,821
1,400,000
260,737
12,172,351
42,624
78,821
698,769
5,477,558
5,483,847
529,012
545,064
4,938,783
52,281
883,515

6,524,955
6,141,780
444,589
(61,414)
(207,905)
10,099,231
0
3,210,806
6,404,711
483,714
16,416,281
64,312
108,980
1,646,286
6,379,873
8,285,178
1,012,965
944,570
7,340,608
82,960
793,262

6,650,877
6,141,780
474,801
34,296
(191,250)
9,915,845
0
4,983,790
4,657,690
274,365
16,375,472
76,513
36,324
1,482,414
6,286,676
8,430,312
1,122,912
1,019,531
7,410,781
96,089
986,675

6,586,986
6,141,780
474,801
(29,595)
(229,759)
8,526,649
0
4,537,471
3,652,844
336,334
14,883,876
42,643
41,177
200,000
6,187,323
8,003,538
1,566,090
964,425
7,039,113
68,568
1,305,052

3,158,142
6,141,780
0
(2,983,638)
(8,351)
10,315,816
0
5,880,572
4,088,500
346,744
13,465,607
63,387
38,636
0
7,706,331
7,558,084
3,307,968
2,717,073
4,841,011
97,946
718,296

1,610,370
1,105,089
505,281
505,969
(688)
281,258
218,224
207,605
62,346
112,380

1,611,086
1,145,347
465,739
508,620
(42,881)
(484,130)
226,215
222,880
(753,226)
(728,107)

1,675,251
1,125,259
549,992
341,721
208,271
214,661
287,562
281,965
105,473
131,626

1,728,763
1,100,691
628,072
185,091
442,981
46,188
373,618
341,014
115,551
(63,891)

1,229,133
983,847
245,286
2,983,602
(2,738,316)
119,940
666,467
281,437
(3,317,699)
(3,428,844)

614,178
0.00%
0.00%
(1,787,539)
2,592,189

614,178
0.00%
0.00%
(572,247)
2,267,235

614,178
0.00%
0.00%
(88,345)
1,620,644

614,178
0.00%
0.00%
726,795
1,446,275

614,178
0.00%
0.00%
2,480,282
1,995,651

31.38%
4.15%
1.55%
0.92%
2.31%
-0.01%
68.62%
3.33
0.12
0.74
0.18

28.91%
2.84%
-11.16%
-4.44%
-2.95%
-0.26%
71.09%
-0.30
0.20
-0.46
-1.19

32.83%
3.36%
1.98%
0.80%
1.31%
1.27%
67.17%
2.67
0.15
1.31
0.21

36.33%
4.22%
-0.97%
-0.43%
0.31%
2.98%
63.67%
2.95
0.21
7.38
-0.10

19.96%
1.82%
-108.57%
-25.46%
0.89%
-20.34%
80.04%
-0.08
0.49
2.35
-5.58

1.00%
45.00%
40.57%
11.50%
53.56%
391.70%
87.62%

1.06%
38.86%
44.72%
39.01%
61.52%
129.36%
86.16%

0.69%
38.39%
45.26%
28.44%
60.55%
181.00%
87.44%

0.56%
41.57%
47.29%
24.54%
57.29%
219.10%
97.72%

0.76%
57.23%
35.95%
30.36%
76.61%
184.86%
75.82%

9.65%
9.94%
7.29%
92.83%
103.03%

12.23%
11.40%
15.52%
53.85%
93.25%

13.32%
12.09%
16.88%
33.52%
90.79%

19.57%
12.05%
23.78%
19.19%
61.58%

43.77%
35.95%
104.74%
109.81%
82.14%

59.59%
0.36
11.81
0.19

39.75%
0.35
10.62
0.98

40.61%
0.24
10.83
0.70

44.26%
0.22
10.72
0.55

23.45%
0.63
5.14
1.29

0.79

-0.67

-11.38

-0.72

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


-15.91

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

80

Financial Statement Analysis of Financial Sector

PAK OMAN INVESTMENT COMPANY LIMITED


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

7,172,413
6,150,000
1,017,251
5,162
(899,590)
11,119,791
0
7,491,561
3,023,121
605,109
17,392,614
48,548
508,560
3,137,180
6,996,478
6,074,145
333,971
333,971
5,740,174
67,109
894,565

6,564,920
6,150,000
414,920
0
(142,019)
14,141,838
0
8,895,096
4,562,089
684,653
20,564,739
73,968
590,362
2,846,936
10,775,046
6,440,129
926,015
926,015
5,514,114
62,538
701,775

6,793,844
6,150,000
492,568
151,276
(31,697)
12,430,977
0
6,145,349
5,561,165
724,463
19,193,124
70,420
664,169
2,467,467
9,129,453
7,052,670
1,221,006
1,107,629
5,945,041
74,901
841,673

6,931,824
6,150,000
485,312
296,512
(56,048)
11,963,268
0
6,648,716
4,695,693
618,859
18,839,044
66,679
209,531
1,321,745
10,632,874
6,739,785
1,199,078
974,224
5,765,561
68,276
774,378

7,173,742
6,150,000
570,983
452,759
38,511
11,406,124
0
6,546,367
4,351,000
508,757
18,618,377
101,974
159,980
833,119
10,296,148
7,280,873
1,182,906
933,814
6,347,059
61,298
818,799

2,038,155
1,318,404
719,751
253,496
466,255
(62,050)
277,645
255,846
126,560
6,453

2,319,194
1,636,815
682,379
729,674
(47,295)
(359,896)
246,628
234,559
(653,819)
607,493

2,231,471
1,462,002
769,469
267,739
501,730
297,510
343,788
326,855
455,452
332,799

2,270,702
1,513,542
757,160
(73,119)
830,279
153,800
360,868
335,648
623,211
357,521

2,051,174
1,304,300
746,874
163,795
583,079
431,879
386,488
371,542
628,470
446,586

615,000
0.00%
0.00%
363,978
1,440,147

615,000
0.00%
0.00%
52,313
1,134,953

615,000
0.00%
0.00%
1,800,538
625,687

615,000
0.00%
0.00%
(2,462,635)
2,833,372

615,000
0.00%
0.00%
2,501,049
1,550,074

35.31%
4.14%
0.09%
0.04%
-0.36%
2.68%
64.69%
2.02
0.14
-4.12
0.01

29.42%
3.32%
9.25%
2.95%
-1.75%
-0.23%
70.58%
-0.36
0.13
-0.65
0.99

34.48%
4.01%
4.90%
1.73%
1.55%
2.61%
65.52%
0.72
0.14
1.10
0.54

33.34%
4.02%
5.16%
1.90%
0.82%
4.41%
66.66%
0.54
0.15
2.18
0.58

36.41%
4.01%
6.23%
2.40%
2.32%
3.13%
63.59%
0.59
0.16
0.86
0.73

3.20%
40.23%
33.00%
17.38%
63.93%
200.92%
57.77%

3.23%
52.40%
26.81%
22.18%
68.77%
141.17%
47.86%

3.83%
47.57%
30.97%
28.97%
64.77%
126.82%
60.25%

1.47%
56.44%
30.60%
24.93%
63.50%
143.53%
59.41%

1.41%
55.30%
34.09%
23.37%
61.26%
167.34%
66.81%

5.50%
5.50%
4.66%
75.90%
100.00%

14.38%
14.38%
14.11%
78.80%
100.00%

17.31%
15.71%
17.97%
24.17%
90.71%

17.79%
14.45%
17.30%
-7.51%
81.25%

16.25%
12.83%
16.49%
17.54%
78.94%

41.24%
0.20
11.66
0.42

31.92%
0.17
10.67
0.69

35.40%
0.09
11.05
0.82

36.79%
0.41
11.27
0.68

38.53%
0.22
11.66
0.61

56.40

0.09

5.41

-6.89

5.60

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

81

Financial Statement Analysis of Financial Sector

SAUDI PAK INDUSTRIAL & AGRI. INV CO. (PVT) LTD.


Items
A.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 banks
2.Balances with other banks
3.Lending to financial institutions
4.Investments
5.Gross advances
6.Advances-non-performing/classified
7.Provisions against advances
8.Advances net of provisions (C5-C7)
9.Fixed assets
10.Other/misc. assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

6,487,342
5,000,000
2,405,925
(918,583)
2,107,993
12,538,271
0
10,843,443
1,420,000
274,828
21,133,606
24,784
1,302,617
1,335,000
8,602,574
8,176,268
2,600,657
1,871,691
6,304,577
2,369,627
1,194,427

7,992,320
6,000,000
2,520,384
(528,064)
2,086,629
11,132,171
0
8,160,658
2,635,848
335,665
21,211,120
44,579
2,538,196
2,083,871
7,403,287
7,594,930
2,619,486
1,985,406
5,609,524
2,282,313
1,249,350

7,758,307
6,000,000
1,961,641
(203,334)
1,046,117
13,178,438
0
9,078,012
2,858,458
1,241,968
21,982,862
41,130
286,434
431,258
7,177,103
12,130,998
2,828,882
2,773,949
9,357,049
2,448,286
2,241,602

6,233,267
6,000,000
1,513,182
(1,279,915)
829,249
10,262,203
0
7,064,577
1,618,222
1,579,404
17,324,719
56,121
193,655
171,111
5,101,879
10,870,638
3,006,985
3,477,362
7,393,276
2,321,846
2,086,831

6,620,574
6,000,000
536,440
84,134
1,041,002
10,046,997
0
7,229,176
1,329,131
1,488,690
17,708,573
65,690
389,069
285,000
6,194,338
9,986,984
3,137,100
3,623,295
6,363,689
2,612,688
1,798,099

1,946,874
1,711,056
235,818
643,119
407,302
6,950,333
2,134,384
184,006
4,408,648
4,426,613

1,870,370
1,428,082
442,288
571,641
(129,353)
730,913
196,267
196,267
405,193
418,904

1,728,226
1,399,433
328,793
212,552
116,241
(16,197)
374,212
359,004
(274,167)
(434,030)

1,479,941
1,173,520
306,421
719,171
(412,750)
136,865
1,471,800
337,031
(1,747,686)
(2,042,565)

1,246,895
776,603
470,292
390,322
79,970
645,779
465,384
375,215
268,622
246,988

500,000
0.00%
0.00%
5,508,473
6,377,528

600,000
0.00%
0.00%
(809,416)
6,270,668

600,000
0.00%
0.00%
(2,147,613)
5,590,225

600,000
0.00%
0.00%
(1,979,145)
3,344,230

600,000
0.00%
0.00%
460,618
1,423,333

12.11%
1.12%
68.23%
20.95%
32.89%
1.93%
87.89%
0.04
0.24
0.03
8.85

23.65%
2.09%
5.24%
1.97%
3.45%
-0.61%
76.35%
0.48
0.08
0.27
0.70

19.02%
1.50%
-5.59%
-1.97%
-0.07%
0.53%
80.98%
-1.31
0.22
-22.16
-0.72

20.70%
1.77%
-32.77%
-11.79%
0.79%
-2.38%
79.30%
-0.19
0.91
2.46
-3.40

37.72%
2.66%
3.73%
1.39%
3.65%
0.45%
62.28%
1.40
0.25
0.58
0.41

6.28%
40.71%
29.83%
6.72%
59.33%
575.79%
66.67%

12.18%
34.90%
26.45%
12.43%
52.48%
288.14%
70.35%

1.49%
32.65%
42.57%
13.00%
59.95%
424.39%
101.63%

1.44%
29.45%
42.67%
9.34%
59.23%
671.76%
125.20%

2.57%
34.98%
35.94%
7.51%
56.74%
751.39%
116.69%

31.81%
22.89%
40.09%
34.36%
71.97%

34.49%
26.14%
32.78%
28.79%
75.79%

23.32%
22.87%
36.46%
7.66%
98.06%

27.66%
31.99%
48.24%
20.68%
115.64%

31.41%
36.28%
47.38%
10.77%
115.50%

30.70%
0.98
12.97
0.22

37.68%
0.78
13.32
0.33

35.29%
0.72
12.93
0.37

35.98%
0.54
10.39
0.26

37.39%
0.21
11.03
0.20

1.24

-1.93

4.95

0.97

1.86

D.Profit & loss account


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 activities
5.Commitments and contigencies

F.Efficiency ratios/profitability ratios


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 provisions) to total assets(D5/C)
7.Markup/interest expenses to markup/interest income (D2/D1)
8.Admin. expenses to profit before tax. (D8/D9) (times)
9.Non-markup/interest expenses to total income D7/(D1+D6)
10.Admin. expenses 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 & deposits C5/(B2+B3)

H.Assets quality ratios


1.Non-performing loan to gross advances (C6/C5)
2.Provision against NPLs to gross advances (C7/C5)
3.NPLs to total equity (C6/A)
4.NPLs write off to NPLs provisions (D4/C7)
5.Provision against NPL to NPLs (C7/C6)

I.Capital /leverage ratios


1.Capital ratio (A/C)
2.Commitments & contingencies to total equity (E5/A) (times)
3.Break up value per share (A/E1)
4.Total deposits to total equity (B3/A) (times)

J.Cash flow ratio


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

82

Financial Statement Analysis of Financial Sector

2012

LEASING COMPANIES
PERFORMANCE AT A GLANCE
Outlook of leasing sector in the country has not been encouraging during FY12. Asset base decreased
by 0.3 percent from Rs 33.8 billion in FY11 to Rs 33.7 billion in FY12. The sector showed profit
before taxation of Rs. 27.0 million in FY12 as compared to Rs. 407.2 million in FY11.

ANALYSIS OF SHAREHOLDERS
EQUITY

Shareholder's Equity
6.0

The shareholders equity of leasing sector

5.0
4.0

4.9 billion in FY11 to Rs 4.5 billion in

3.0

FY12. Increase was however, noted in


reserves, which increased by 9.7 percent in

Billion Rs.

decreased by 9.0 percent in FY12 from Rs

2.0
0.0
-2.0

billion in FY12.

4.9

4.5

FY 12
4.4 4.4
0.0%

-9.0%

Growth%

20.0%
10.0%

9.7%

0.0%

2.1 2.3

-10.0%

1.0
-1.0

FY12, from Rs 2.1 billion in FY11 to Rs 2.3

FY 11

-20.0%
Total
Equity

Share
Capital

Reserves

Un-appr.
profit/loss

-40.6%-40.0%

-1.6

-2.2

-3.0

-30.0%

-50.0%

ANALYSIS OF LIABILITIES
Total liabilities slightly increased from Rs.

Composition of non-current
liabilities

28.6 billion in FY11 to Rs. 28.9 billion in


FY12 showing an increase of 1.1 percent.
Long term liabilities comprises borrowings

15.0

from financial and other institutions (BFI),


miscellaneous

liabilities

(MISC).

The

Billion Rs.

deposit on finance lease (DFL) and other

6.4

contribution of BFI, DFL and MISC was


21.3 percent, 28.2 percent and 50.6 percent

MISC
DFL

4.7

5.0
0.0

respectively of non-current liabilities for the

6.7

10.0

3.7

3.4

2.8

FY 11

FY 12

BFI

year FY12. BFI decreased from Rs 3.4 billion in FY11 to Rs 2.8 billion in FY12. Similarly, DFL
decreased from Rs 4.7 billion in FY11 to Rs. 3.7 billion in FY12.

83

Financial Statement Analysis of Financial Sector

2012

Current liabilities increased from Rs 14.2 billion in FY11 to Rs 15.6 billion in FY12, showing an
increase of 10.2 percent. The ratios of current liabilities to total liabilities have been 49.6 percent and
54.0 percent respectively in FY11 and FY12.

ANALYSIS OF ASSETS
Non Current Assets

Total assets of leasing sector were Rs 33.7


billion in FY12 as against Rs 33.8 billion
over the previous year. Net investment in
finance lease contributed 71.5 percent of
non-current assets in FY12; showing a
decrease of 6.9 percent to reach Rs 12.5
billion in FY12 from Rs 13.4 billion in

Billion Rs.

in FY11, showing a decline of 0.3 percent

FY 11

20
18
16
14
12
10
8
6
4
2
0

FY 12

Growth%

18.117.4

8.0%

7.8%
13.4

10.0%

5.2%

12.5

6.0%
4.0%
2.0%
0.0%
-2.0%

-3.5%

2.9 3.1

1.8 1.9

-6.0%

-6.9%
NCA

FY11. Fixed assets (FA) comprised 10.9

NIFL

-4.0%

FA

MISC

-8.0%

percent of non-current assets and other/miscellaneous assets 17.6 percent in FY12. FA and
other/miscellaneous assets increased by 7.8 percent & 5.2 percent respectively in FY12.
Current assets (CA) were Rs 15.7 billion

Current Assets

in FY11 increased by 3.4 percent to reach


Rs 16.2 billion in FY12. CA constituted
were 46.5 percent of total assets in FY11.
Current assets comprised of cash and cash

20.0
Billon Rs.

48.2 percent of total assets in FY12 which

10.0

15.7

0.0

equivalents (CCE) and other/ misc. current

CA

assets (OCA). Cash and balances with

16.2

1.2

1.9

14.5

14.4

FY 11
FY 12

CCA
OCA

treasury banks and other money market


placements have shown negative growths

of 53.6 percent and 39.3 percent respectively in FY12 over FY11. OCA constituted 92.2 percent of
CA in FY11 and 88.5 percent of CA in FY12, showing a decline of 0.7 percent in FY12.

84

Financial Statement Analysis of Financial Sector

2012

PROFITABILITY AND OPERATING EFFICIENCY


The profit and loss account of leasing

Profit & Loss Account

sector indicates that prominent source


of revenue generation is income from

4.0

finance lease, which was Rs. 2,834

3.5

from

finance

lease

and

operating lease are components of

0.0%

1.0

-93.4%

-100.0%

0.3

-150.0%

0.9 0.9
0.4

0.5

decline of 0.9 percent during FY12.


(II)

0.8

1.0
0.0

investments

2.0%

50.0%

-50.0%

1.5

-0.5

from

14.0%

2.0

income from lease (IL). IL showed


Income

22.0%

Growth%

2.5

Billion Rs.

Income

FY 12

-0.9%

3.0

million in FY11, decreased by 2.1


percent to Rs 2,775 million in FY12.

FY 11
3.6 3.6

0.0

0.0 0.0

IL

II

OI

AE

-200.0%

PAT -215.3%

PBT

-0.4

-1.0

-250.0%

increased by 22.0 percent and other

Profitability Ratios

income (OI) by 14.0 percent in FY12


over FY11. Administrative expenses
(AE) at Rs. 922.9 million in FY11
increased to Rs. 941.2 million during
FY12. Profit before taxation was Rs.
27.0 million while it showed losses of
388.6 million in FY12 after taxation.
Return on equity (ROE), return on
assets (ROA) and return on revenue

10%
8%

7.6%

6.9%

6%

FY 11

4%

2.1%

2%

0.2%

0%

ROE

-2%

ROCE

1.0%
ROA
-1.2%

ROR

-4%

FY 12

-6%
-8%
-10%

-8.7%

-8.6%

(ROR) have been in the negative zone this year except for return on capital employed (ROCE) which
is positive.

85

Financial Statement Analysis of Financial Sector

Leasing Companies - Overall


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

7,800,956
4,960,666
2,499,578
340,712
(67,720)
56,921,926
36,548,909
6,765,089
16,502,335
13,281,485
20,373,017
64,655,162
36,026,887
29,923,207
2,035,740
4,067,940
28,628,275
308,100
1,169,347
937,871
947,040
3,362,358
25,265,917

6,316,942
5,282,365
1,824,047
(789,470)
(133,118)
49,969,350
31,035,953
5,647,750
14,383,597
11,004,606
18,933,397
56,153,174
28,288,631
21,949,968
1,959,972
4,378,691
27,864,543
554,865
709,141
1,747,606
864,832
3,876,444
23,988,099

4,320,919
4,872,408
1,266,645
(1,818,134)
141,757
32,704,053
17,121,056
4,991,653
6,347,401
5,782,002
15,582,997
37,166,729
17,744,272
13,172,435
1,696,652
2,875,185
19,422,457
6,751
263,208
1,614,842
543,218
2,428,019
16,994,438

4,898,134
4,384,659
2,098,810
(1,585,335)
279,435
28,579,418
14,411,488
3,370,413
4,680,145
6,360,930
14,167,930
33,756,987
18,060,998
13,380,148
1,758,486
2,922,364
15,695,989
487
342,472
841,296
34,216
1,218,471
14,477,518

4,457,244
4,384,659
2,301,846
(2,229,261)
309,252
28,889,445
13,282,212
2,824,610
3,741,743
6,715,859
15,607,233
33,655,941
17,422,505
12,451,059
1,896,381
3,075,065
16,233,436
226
502,490
1,338,031
20,776
1,861,523
14,371,913

4,895,144
904,851
5,799,995
319,789
1,668,240
7,788,024
1,278,443
477,671
609,870

4,667,649
742,010
5,409,659
190,161
831,685
6,431,505
1,343,468
(1,646,659)
(1,519,073)

2,970,869
759,675
3,730,544
109,101
1,208,266
5,047,911
1,055,725
(656,095)
(578,624)

2,834,411
754,690
3,589,101
17,317
841,342
4,447,760
922,895
407,168
337,034

2,774,579
780,817
3,555,396
21,128
959,040
4,535,564
941,224
27,030
(388,552)

496,045

528,215

487,219

438,464

438,464

N/A
N/A
1,805,150

N/A
N/A
4,736,396

N/A
N/A
2,298,492

N/A
N/A
1,238,762

N/A
N/A
243,163

7.82%
1.08%
0.94%
7.83%
74.47%
2.10
1.23

-24.05%
-4.42%
-2.71%
-23.62%
84.11%
-0.88
-2.88

-13.39%
-3.04%
-1.56%
-11.46%
73.90%
-1.82
-1.19

6.88%
2.08%
1.00%
7.58%
80.69%
2.74
0.77

-8.72%
0.15%
-1.15%
-8.57%
78.39%
-2.42
-0.89

5.20%
46.28%
1.41
0.88

6.90%
39.09%
1.47
0.89

6.53%
35.44%
1.25
0.88

3.61%
39.64%
1.11
0.85

5.53%
37.00%
1.04
0.86

12.07%
15.73

11.25%
11.96

11.63%
8.87

14.51%
11.17

13.24%
10.17

2.96
0.09

-3.12
0.25

-3.97
0.15

3.68
0.09

-0.63
0.02

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

86

Financial Statement Analysis of Financial Sector

Capital Assets Leasing Corporation Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

58,030
107,444
9,639
(59,053)
0
22,389
141
0
141
0
22,248
80,419
56,494
519
55,449
526
23,925
28
918
0
18,094
19,040
4,885

98,919
107,444
9,639
(18,164)
0
12,376
0
0
0
0
12,376
111,295
85,088
0
54,928
30,160
26,207
19
517
0
10,115
10,651
15,556

106,787
107,444
17,989
(18,646)
0
66,003
37,179
0
0
37,179
28,824
172,790
149,334
0
117,755
31,579
23,456
21
298
0
9,548
9,867
13,589

2,107
1,792
3,899
0
1,486
5,385
8,306
17,817
36,940

323
15,358
15,681
0
1,012
16,693
5,911
12,175
41,749

14
21,886
21,900
0
122
22,022
6,428
12,410
7,868

10,744
0.00%
0.00%
55,503

10,744
5.00%
0.00%
1,845

10,744
0.00%
0.00%
21,934

63.66%
30.63%
45.93%
685.98%
72.40%
0.22
3.44

42.21%
12.31%
37.51%
250.10%
93.94%
0.14
3.89

7.37%
8.62%
4.55%
35.73%
99.45%
0.82
0.73

23.68%
0.65%
1.08
0.28

9.57%
0.00%
2.12
0.11

5.71%
0.00%
0.81
0.38

72.16%
5.40

88.88%
9.21

61.80%
9.94

1.50
2.49

0.04
0.15

2.79
0.76

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

87

Financial Statement Analysis of Financial Sector

Grays Leasing Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

259,238
200,000
58,625
613
19,969
1,293,288
798,343
372,353
369,898
56,092
494,945
1,572,495
881,707
773,432
92,123
16,152
690,788
21
20,793
0
641,375
662,189
28,599

202,112
215,000
58,625
(71,513)
18,970
852,115
262,733
96,968
141,555
24,210
589,382
1,073,197
289,847
189,313
89,373
11,161
783,350
36
16,199
0
763,478
779,713
3,637

101,581
215,000
58,625
(172,044)
18,022
554,619
43,384
4,796
33,888
4,700
511,235
674,222
144,025
67,666
65,676
10,683
530,197
30
14,000
0
512,481
526,511
3,686

75,433
215,000
58,625
(198,192)
76,108
310,943
281,847
62,378
219,469
0
29,096
462,484
448,392
431,552
16,493
347
14,092
39
11,151
0
2,101
13,291
801

71,910
215,000
58,625
(201,715)
97,121
170,480
164,033
12,383
151,650
0
6,447
339,511
334,129
332,591
1,303
235
5,382
33
3,578
0
1,228
4,839
543

129,584
8,317
137,901
0
15,055
152,956
38,556
(9,571)
(10,283)

91,969
3,415
95,384
0
10,931
106,315
36,188
(74,578)
(56,520)

50,634
5,425
56,059
0
10,361
66,420
27,767
(118,232)
(101,478)

18,842
988
19,830
0
10,780
30,610
(20,628)
(42,506)
(44,170)

14,775
107
14,882
0
11,048
25,930
(14,579)
(1,784)
(3,523)

20,000
0.00%
0.00%
171,193

21,500
0.00%
0.00%
(24,336)

21,500
0.00%
0.00%
(24,634)

21,500
0.00%
0.00%
(27,623)

21,500
0.00%
0.00%
(4,117)

-3.97%
-0.89%
-0.65%
-6.72%
90.16%
-3.75
-0.51

-27.96%
-15.41%
-5.27%
-53.16%
89.72%
-0.64
-2.63

-99.90%
-72.54%
-15.05%
-152.78%
84.40%
-0.27
-4.72

-58.56%
-9.81%
-9.55%
-144.30%
64.78%
0.47
-2.05

-4.90%
-0.54%
-1.04%
-13.59%
57.39%
4.14
-0.16

42.11%
49.19%
1.40
0.82

72.65%
17.64%
1.33
0.79

78.09%
10.04%
1.04
0.82

2.87%
93.31%
0.48
0.67

1.43%
97.96%
0.83
0.50

16.49%
12.96

18.83%
9.40

15.07%
4.72

16.31%
3.51

21.18%
3.34

-16.65
0.35

0.43
-0.04

0.24
-0.05

0.63
-0.95

1.17
-0.64

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

88

Financial Statement Analysis of Financial Sector

NBP Leasing Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

720,708
500,000
88,932
131,776
(97,976)
293,173
67,008
0
66,017
991
226,165
915,905
353,502
194,096
6,498
152,908
562,403
1,301
2,394
218,315
0
222,010
340,393

617,815
500,000
88,932
28,883
(35,573)
99,621
40,441
0
40,441
0
59,180
681,863
289,984
109,761
4,996
175,227
391,879
22
111,296
119,934
0
231,252
160,627

648,916
500,000
95,152
53,764
(21,891)
110,680
54,165
0
52,281
1,884
56,515
737,705
373,074
189,948
7,612
175,514
364,631
121
6,065
121,028
0
127,214
237,417

705,192
500,000
106,407
98,785
(17,939)
215,889
88,612
0
86,935
1,677
127,277
903,142
592,851
394,831
9,374
188,646
310,291
318
7,044
51,152
0
58,514
251,777

41,503
1,167
42,670
52,966
12,814
108,450
24,802
853
10,915

27,145
294
27,439
36,832
3,663
67,934
29,087
(126,024)
(102,893)

19,463
48,927
68,390
51
0
68,441
34,519
34,017
31,101

48,166
46,215
94,381
0
0
94,381
44,826
57,080
56,276

66,088
25,775
91,863
0
0
91,863
47,809
12,232
10,979

50,000
0.00%
0.00%
148,975

50,000
0.00%
0.00%
151,088

50,000
0.00%
0.00%
(69,226)

50,000
0.00%
0.00%
(232,366)

50,000
0.00%
0.00%
(183,781)

1.51%
0.12%
1.19%
10.06%
39.35%
2.27
0.22

-16.65%
-20.24%
-15.09%
-151.46%
40.39%
-0.28
-2.06

4.79%
4.99%
4.22%
45.44%
99.93%
1.11
0.62

7.98%
7.36%
6.23%
59.63%
100.00%
0.80
1.13

1.53%
1.22%
0.94%
11.95%
100.00%
4.35
0.22

24.24%
21.19%
2.49
0.32

33.91%
16.10%
6.62
0.15

17.24%
25.75%
6.45
0.15

6.48%
43.72%
2.44
0.24

2.95%
50.98%
3.35
0.39

78.69%
14.41

90.61%
12.36

87.96%
12.98

78.08%
14.10

61.01%
14.32

13.65
0.66

-1.47
2.55

-2.23
-1.22

-4.13
-1.83

-16.74
-1.09

716,171
500,000
108,603
107,568
(4,520)
462,160
293,664
150,000
140,958
2,706
168,496
1,173,811
609,093
598,367
9,346
1,380
564,718
40
4,127
30,407
0
34,574
530,144

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

89

Financial Statement Analysis of Financial Sector

Orix Leasing Pakistan Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

2,603,868
694,785
1,576,899
332,184
0
25,211,112
20,175,342
3,602,959
9,913,743
6,658,640
5,035,770
27,814,980
15,876,126
13,169,849
832,333
1,873,944
11,938,854
207,557
0
261,519
0
469,076
11,469,778

2,077,910
820,528
1,052,604
204,778
0
25,245,296
17,807,230
3,864,826
8,100,984
5,841,420
7,438,066
27,323,206
13,465,632
9,828,123
1,121,881
2,515,628
13,857,574
528,227
0
1,467,281
0
1,995,508
11,862,066

2,016,356
820,529
1,195,827
0
0
21,762,670
12,963,244
3,186,110
4,543,263
5,233,871
8,799,426
23,779,026
11,918,496
9,130,304
1,075,338
1,712,854
11,860,530
0
128,632
1,216,429
0
1,345,061
10,515,469

2,160,686
820,529
1,340,157
0
87,013
19,554,519
11,093,605
2,172,519
3,165,148
5,755,938
8,460,914
21,802,218
12,238,277
9,109,645
1,266,877
1,861,755
9,563,941
0
242,277
358,263
0
600,540
8,963,401

2,376,165
820,529
1,555,636
0
85,045
19,535,444
10,354,374
1,938,187
2,273,603
6,142,584
9,181,070
21,996,654
11,640,724
7,839,575
1,341,222
2,459,927
10,355,930
0
336,373
737,619
0
1,073,992
9,281,938

2,378,393
535,434
2,913,827
33,330
504,110
3,451,267
516,826
351,609
266,609

2,374,476
589,621
2,964,097
83,641
475,772
3,523,510
651,523
(428,715)
(467,096)

2,066,884
625,848
2,692,732
70,258
994,309
3,757,299
599,756
125,956
104,784

2,107,805
648,815
2,756,620
0
433,383
3,190,003
548,631
226,585
144,673

2,012,627
703,582
2,716,209
0
633,214
3,349,423
585,467
274,864
201,864

69,478
15.00%
15.00%
549,478

82,053
0.00%
0.00%
2,690,983

82,053
0.00%
0.00%
945,394

82,053
10.00%
0.00%
801,778

82,053
15.00%
0.00%
460,537

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

10.24%
1.54%
0.96%
7.72%
84.43%
1.94
3.84

-22.48%
-2.16%
-1.71%
-13.26%
84.12%
-1.39
-5.69

5.20%
0.84%
0.44%
2.79%
71.67%
5.72
1.28

6.70%
1.70%
0.66%
4.54%
86.41%
3.79
1.76

8.50%
2.14%
0.92%
6.03%
81.09%
2.90
2.46

1.69%
47.35%
2.37
0.91

7.30%
35.97%
1.86
0.92

5.66%
38.40%
1.35
0.92

2.75%
41.78%
1.13
0.90

4.88%
35.64%
1.13
0.89

9.36%
37.48

7.60%
25.32

8.48%
24.57

9.91%
26.33

10.80%
28.96

2.06
0.11

-5.76
0.36

9.02
0.11

5.54
0.09

2.28
0.05

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

90

Financial Statement Analysis of Financial Sector

Pak-Gulf Leasing Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

256,702
193,698
29,580
33,424
24,871
282,308
151,144
0
129,971
21,173
131,164
563,881
354,788
303,813
47,894
3,081
209,093
0
181,497
0
0
181,497
27,596

333,766
253,698
32,556
47,512
47,865
324,924
227,757
25,000
161,465
41,292
97,167
706,555
473,944
391,013
82,710
221
232,611
0
182,279
0
0
182,279
50,332

346,117
253,698
37,041
55,378
44,150
309,837
235,872
8,333
178,168
49,371
73,965
700,104
447,104
366,450
77,532
3,122
253,000
0
6,233
1,530
0
7,763
245,237

364,255
253,698
41,785
68,772
41,756
410,023
288,464
25,000
198,580
64,884
121,559
816,034
527,791
450,676
73,978
3,137
288,243
0
2,237
1,745
0
3,982
284,261

389,369
253,698
44,648
91,023
39,045
421,665
304,498
0
217,146
87,352
117,167
850,079
524,056
449,235
71,665
3,156
326,023
0
42,904
1,643
0
44,547
281,476

40,338
9,429
49,767
703
150
50,620
18,028
12,164
10,849

53,639
27
53,666
5,184
349
59,199
18,669
23,023
14,878

58,705
5,453
64,158
4,738
487
69,383
19,884
32,273
21,249

61,302
3,172
64,474
0
4,724
69,198
31,455
33,900
15,528

75,166
2,194
77,360
0
7,046
84,406
28,187
48,102
22,505

19,370
0.00%
0.00%
7,472

25,370
0.00%
0.00%
(31,254)

25,370
5.00%
0.00%
43,228

25,370
0.00%
0.00%
(48,250)

25,370
0.00%
0.00%
73,705

4.23%
2.81%
1.92%
21.43%
98.31%
1.66
0.56

4.46%
3.78%
2.11%
25.13%
90.65%
1.25
0.59

6.14%
5.15%
3.04%
30.63%
92.47%
0.94
0.84

4.26%
4.88%
1.90%
22.44%
93.17%
2.03
0.61

5.78%
6.56%
2.65%
26.66%
91.65%
1.25
0.89

32.19%
53.88%
1.59
0.50

25.80%
55.34%
2.39
0.46

1.11%
52.34%
3.42
0.44

0.49%
55.23%
2.37
0.50

5.24%
52.85%
2.78
0.50

45.52%
13.25

47.24%
13.16

49.44%
13.64

44.64%
14.36

45.80%
15.35

0.69
0.06

-2.10
-0.32

2.03
0.58

-3.11
-0.40

3.28
0.63

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

91

Financial Statement Analysis of Financial Sector

SME Leasing Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

419,363
320,000
48,466
50,897
(8,783)
1,569,329
895,907
340,486
181,250
374,171
673,422
1,979,909
1,221,954
1,146,981
9,711
65,262
757,955
33,964
31,308
0
0
65,272
692,683

349,615
320,000
48,466
(18,851)
1,649
1,239,513
529,821
98,236
428,318
3,267
709,692
1,590,777
957,777
907,451
13,861
36,465
633,000
36
22,411
0
0
22,447
610,553

299,829
320,000
48,466
(68,637)
3,835
685,972
297,074
12,659
280,353
4,062
388,898
989,636
470,485
432,543
23,402
14,540
519,151
26
11,877
28,660
0
40,563
478,588

237,289
320,000
48,466
(131,177)
184
552,468
98,820
14,111
72,496
12,213
453,648
789,941
207,162
158,289
23,017
25,856
582,779
9
10,407
3,864
0
14,280
568,499

208,202
320,000
48,466
(160,264)
129
378,723
63,568
3,540
55,798
4,230
315,155
587,054
114,354
82,582
20,804
10,968
472,700
18
7,173
3,809
0
11,000
461,700

134,241
0
134,241
5,663
15,951
155,855
43,631
2,275
7,711

104,603
0
104,603
(4,674)
19,268
119,197
47,631
(70,560)
(69,748)

74,548
74,548
0
11,043
85,591
44,709
(47,388)
(49,786)

44,260
0
44,260
0
15,459
59,719
47,250
(61,943)
(62,540)

34,334
0
34,334
0
11,493
45,827
40,555
(28,859)
(29,088)

32,000
0.00%
0.00%
92,656

32,000
0.00%
0.00%
236,228

32,000
0.00%
0.00%
231,733

32,000
0.00%
0.00%
31,297

32,000
0.00%
0.00%
81,255

1.84%
0.17%
0.39%
4.95%
86.13%
5.66
0.24

-19.95%
-8.01%
-4.38%
-58.51%
87.76%
-0.68
-2.18

-16.60%
-7.89%
-5.03%
-58.17%
87.10%
-0.90
-1.56

-26.36%
-18.42%
-7.92%
-104.72%
74.11%
-0.76
-1.95

-13.97%
-10.61%
-4.95%
-63.47%
74.92%
-1.39
-0.91

3.30%
57.93%
1.13
0.79

1.41%
57.04%
0.89
0.78

4.10%
43.71%
1.33
0.69

1.81%
20.04%
1.28
0.70

1.87%
14.07%
1.50
0.65

21.18%
13.11

21.98%
10.93

30.30%
9.37

30.04%
7.42

35.47%
6.51

12.02
0.14

-3.39
0.33

-4.65
0.60

-0.50
0.07

-2.79
0.26

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

92

Financial Statement Analysis of Financial Sector

Saudi Pak Leasing Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

684,097
451,605
150,857
81,635
(136,762)
6,888,051
2,441,650
0
1,070,376
1,371,274
4,446,401
7,435,386
3,313,267
2,941,966
256,383
114,918
4,122,119
49,704
419,779
11,250
0
480,733
3,641,386

217,148
451,605
148,257
(382,714)
(144,934)
5,830,720
2,648,890
0
876,653
1,772,237
3,181,830
5,902,934
2,233,638
1,880,876
260,795
91,967
3,669,296
14,125
108,866
1,013
0
124,004
3,545,292

(123,738)
451,605
148,257
(723,600)
25,261
4,569,990
1,769,358
632,000
692,925
444,433
2,800,632
4,471,513
1,408,863
1,069,278
119,283
220,302
3,062,650
30
18,511
184,682
0
203,223
2,859,427

(239,548)
451,605
148,257
(839,410)
23,664
3,378,209
1,100,629
431,122
164,269
505,238
2,277,580
3,162,325
765,287
453,840
99,760
211,687
2,397,038
36
31,665
184,144
0
215,845
2,181,193

(1,058,654)
451,605
148,257
(1,658,516)
47,637
3,004,708
682,548
246,884
70,039
365,625
2,322,160
1,993,691
482,427
282,416
132,660
67,351
1,511,264
27
27,252
122,569
0
149,848
1,361,416

479,905
74,835
554,740
0
316,561
871,301
105,283
90,865
73,465

437,132
62,221
499,353
0
177,970
677,323
112,291
(527,197)
(458,059)

277,855
25,474
303,329
0
132,554
435,883
97,227
(419,636)
(342,754)

135,665
9,968
145,633
0
73,932
219,565
90,227
(165,937)
(117,678)

57,856
4,917
62,773
0
81,354
144,127
76,690
(602,998)
(821,752)

45,160
0.00%
0.00%
(240,840)

45,160
0.00%
0.00%
823,319

45,160
0.00%
0.00%
930,274

45,160
0.00%
0.00%
935,483

45,160
0.00%
0.00%
311,771

10.74%
3.04%
0.99%
8.43%
63.67%
1.43
1.63

-210.94%
-19.37%
-7.76%
-67.63%
73.72%
-0.25
-10.14

277.00%
-25.11%
-7.67%
-78.63%
69.59%
-0.28
-7.59

49.13%
-18.76%
-3.72%
-53.60%
66.33%
-0.77
-2.61

77.62%
183.58%
-41.22%
-570.16%
43.55%
-0.09
-18.20

6.47%
39.57%
0.93
0.93

2.10%
31.86%
1.15
0.99

4.54%
23.91%
1.09
1.02

6.83%
14.35%
1.05
1.07

7.52%
14.17%
0.65
1.51

9.20%
15.15

3.68%
4.81

-2.77%
-2.74

-7.58%
-5.30

-53.10%
-23.44

-3.28
-0.05

-1.80
0.26

-2.71
0.33

-7.95
0.41

-0.38
0.13

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

93

Financial Statement Analysis of Financial Sector

Security Leasing Corporation Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

592,370
475,500
118,867
(1,997)
23,776
4,961,128
2,632,668
1,602,207
1,027,875
2,586
2,328,460
5,577,274
3,108,830
2,302,632
246,681
559,517
2,468,444
60
38,634
4,814
305,665
349,173
2,119,271

215,787
438,028
118,867
(341,108)
22,547
3,727,834
1,812,607
1,157,747
654,860
0
1,915,227
3,966,168
2,010,853
1,222,343
204,684
583,826
1,955,315
0
3,750
680
101,354
105,784
1,849,531

59,449
438,028
118,867
(497,446)
21,319
2,668,937
1,432,902
1,147,358
285,544
0
1,236,035
2,749,705
1,114,513
494,912
161,314
458,287
1,635,192
34
2,517
1,305
12,643
16,499
1,618,693

310,259
438,028
159,867
(287,636)
24,830
1,598,998
898,338
665,283
233,055
0
700,660
1,934,087
837,029
328,129
145,434
363,466
1,097,058
2
7,079
9,110
22,000
38,191
1,058,867

422,288
438,028
181,867
(197,607)
0
1,017,039
590,346
473,616
116,730
0
426,693
1,439,327
613,862
118,134
136,847
358,881
825,465
12
4,828
0
10,000
14,840
810,625

383,218
58,595
441,813
0
556,615
998,428
89,305
(10,039)
211,810

321,161
46,438
367,599
(108,625)
(60,802)
198,172
99,937
(468,114)
(357,797)

149,924
21,398
171,322
(49,674)
8,467
130,115
93,118
(291,909)
(273,954)

100,876
15,418
116,294
(625)
259,186
374,855
86,112
216,731
205,845

62,545
11,701
74,246
(55)
169,174
243,365
83,379
115,894
112,029

47,550
9.00%
0.00%
152,826

43,802
0.00%
0.00%
57,319

43,802
0.00%
0.00%
201,632

43,802
0.00%
0.00%
251,530

43,802
0.00%
0.00%
231,789

35.76%
-0.31%
3.80%
21.21%
44.25%
0.42
4.45

-165.81%
-22.82%
-9.02%
-180.55%
185.49%
-0.28
-8.17

-460.82%
-19.28%
-9.96%
-210.55%
131.67%
-0.34
-6.25

66.35%
17.57%
10.64%
54.91%
31.02%
0.42
4.70

26.53%
11.44%
7.78%
46.03%
30.51%
0.74
2.56

6.26%
41.29%
1.06
0.89

2.67%
30.82%
1.02
0.94

0.60%
18.00%
1.32
0.97

1.97%
16.97%
1.57
0.83

1.03%
8.21%
1.93
0.71

10.62%
12.46

5.44%
4.93

2.16%
1.36

16.04%
7.08

29.34%
9.64

0.72
0.07

-0.16
0.03

-0.74
0.16

1.22
0.36

2.07
0.54

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

94

Financial Statement Analysis of Financial Sector

Sigma Corporation Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

331,993
300,000
61,861
(29,868)
55,194
982,953
479,120
141,667
1,739
335,714
503,833
1,370,140
627,911
541,329
85,513
1,069
742,229
58
73,089
163,257
0
236,404
505,825

306,303
300,000
61,862
(55,559)
40,476
632,691
315,918
33,333
1,077
281,508
316,773
979,470
361,974
278,688
82,337
949
617,496
67
97,559
137,332
0
234,958
382,538

313,321
300,000
63,209
(49,888)
54,953
163,218
70,515
397
39,048
31,070
92,703
531,492
201,727
119,243
81,654
830
329,765
65
48,354
60,118
0
108,537
221,228

334,524
300,000
67,424
(32,900)
43,823
133,229
78,862
0
57,882
20,980
54,367
511,576
176,560
108,608
67,609
343
335,016
57
23,317
213,618
0
236,992
98,024

324,942
300,000
0
24,942
45,126
19,837
6,263
0
0
6,263
13,574
389,905
63,364
0
63,132
232
326,541
2
69,892
253,444
0
323,338
3,203

123,397
11,100
134,497
0
22,261
156,758
23,854
58,147
54,580

84,095
5,192
89,287
0
10,540
99,827
24,054
(74,417)
(67,860)

43,171
184
43,355
0
31,844
75,199
24,326
(486)
6,736

25,052

12,236

30,000
11.00%
0.00%
377,294

30,000
0.00%
0.00%
325,976

16.44%
6.71%
3.98%
34.82%
85.80%
0.44
1.82

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

25,052
17,916
5,509
48,477
7,420
13,738
21,077

12,236
21,099
4,297
37,632
6,033
19,310
12,710

30,000
0.00%
0.00%
210,019

30,000
5.00%
0.00%
109,863

30,000
2.50%
0.00%
124,985

-22.15%
-11.23%
-6.93%
-67.98%
89.44%
-0.35
-2.26

2.15%
-0.11%
1.27%
8.96%
57.65%
3.61
0.22

6.30%
3.00%
4.12%
43.48%
51.68%
0.35
0.70

3.91%
5.13%
3.26%
33.77%
32.51%
0.47
0.42

17.25%
39.51%
1.47
0.72

23.99%
28.45%
1.95
0.65

20.42%
22.44%
3.56
0.31

46.33%
21.23%
6.16
0.26

82.93%
0.00%
24.06
0.05

24.23%
11.07

31.27%
10.21

58.95%
10.44

65.39%
11.15

83.34%
10.83

6.91
0.75

-4.80
1.03

31.18
2.27

5.21
2.02

9.83
9.21

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

95

Financial Statement Analysis of Financial Sector

Standard Chartered Leasing Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit/loss
4.Others

B.Total liabilities (B1+ B2)


1.Non-current liabilities (a + b + c)
a.Borrowings from financial and other institutions
b.Deposit on finance lease
c.Other/misc. liabilities
2.Current liabilities

C.Total assets (C1 + C2)


1.Non-current assets (a + b + c)
a.Net investment in finance lease
b.Fixed assets
c.Other/misc. assets
2.Current assets (e + f)
a.Cash and balances with treasury banks
b.Placement with other banks
c.Term deposits certificate
d.Other money market placements
e.Cash & cash equivalent (a + b + c + d)
f.Other/misc. current assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

209,098
391,342
94,407
(276,651)
(853)
1,543,716
460,871
66,667
285,129
109,075
1,082,845
1,751,961
811,401
567,724
9,618
234,059
940,560
7
5,040
14,698
0
19,745
920,815

736,138
978,354
94,408
(336,624)
(3,893)
1,269,281
304,736
0
201,334
103,402
964,545
2,001,526
1,292,056
1,043,785
6,734
241,537
709,470
7
5,287
5,741
0
11,035
698,435

778,743
978,354
102,929
(302,540)
(3,892)
1,580,409
230,248
0
228,521
1,727
1,350,161
2,355,260
1,561,028
1,279,678
3,699
277,651
794,232
32
8,518
1,025
0
9,575
784,657

851,125
978,355
118,183
(245,413)
(4)
2,412,764
482,311
0
482,311
0
1,930,453
3,263,885
2,182,561
1,944,578
1,016
236,967
1,081,324
7
6,778
19,400
0
26,185
1,055,139

900,064
978,355
137,755
(216,046)
(331)
3,813,386
785,739
0
715,819
69,920
3,027,647
4,713,119
2,891,162
2,748,159
1,647
141,356
1,821,957
73
6,065
188,540
0
194,678
1,627,279

0
150,715
150,715
7,493
23,297
181,505
48,561
(56,738)
(63,262)

141,428
23,994
165,422
0
14,464
179,886
53,833
(56,552)
(59,973)

206,423
18,709
225,132
1,035
15,393
241,560
70,626
65,547
42,606

292,120
14,756
306,876
26
37,357
344,259
81,691
117,345
76,274

438,938
10,655
449,593
84
41,292
490,969
81,255
177,859
97,856

39,134
0.00%
0.00%
605,369

97,835
0.00%
0.00%
(434,775)

97,835
0.00%
0.00%
(220,574)

97,835
5.00%
0.00%
(584,795)

97,835
8.00%
0.00%
(874,915)

-30.25%
-8.48%
-3.61%
-34.85%
83.04%
-0.77
-1.62

-8.15%
-5.45%
-3.00%
-33.34%
91.96%
-0.90
-0.61

5.47%
6.52%
1.81%
17.64%
93.20%
1.66
0.44

8.96%
8.80%
2.34%
22.16%
89.14%
1.07
0.78

10.87%
10.55%
2.08%
19.93%
91.57%
0.83
1.00

1.13%
32.41%
0.87
0.88

0.55%
52.15%
0.74
0.63

0.41%
54.33%
0.59
0.67

0.80%
59.58%
0.56
0.74

4.13%
58.31%
0.60
0.81

11.94%
5.34

36.78%
7.52

33.06%
7.96

26.08%
8.70

19.10%
9.20

-9.57
0.56

7.25
-0.45

-5.18
-0.16

-7.67
-0.30

-8.94
-0.29

D.Profit & loss account


1.Income from finance lease
2.Income from operating lease
3.Income from lease (D1 + D2)
4.Income from investments
5.Other income
6.Total income/revenue (D3 to D5)
7.Administrative expenses
8.Profit/(loss) before taxation
9.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend
3.Stock dividend
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D9/A)
2.Return on capital employed (ROCE) (D8/(C-B2))
3.Return on assets (ROA) (D9/C)
4.Return on revenue (ROR) (D9/D6)
5.Lease income to total income (D3/D6)
6.Administrative expenses to profit before tax. (D7/D9) (times)
7.Earning per share (D9/E1)

G.Liquidity ratios
1.Cash & cash equivalent to total assets (C2e/C)
2.Net investment in finance lease to total assets (C1a/C)
3.Current assets to current liabilities (C2/B2) (times)
4.Total liabilities to total assets (B/C) (times)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D9) (times)
2.Cash generated from operating activities to current liabilities (E4/B2) (times)

96

Financial Statement Analysis of Financial Sector

2012

INVESTMENT BANKS
The performance of investment banks has deteriorated over the year. Analysis revealed that their
balance sheet size squeezed by 35.8 percent in FY12 over FY11. The aggregate share capital remained
same. Losses before and after tax have been Rs. 2.3 billion and Rs. 2.0 billion respectively in FY12.
Gross revenue also witnessed a decrease of 34.3 percent during FY12.

Shareholders' Equity
ANALYSIS OF SHAREHOLDERS EQUITY

FY 11

over FY11. Share Capital (SC) remained at Rs


8.8 billion both in FY11 and FY12.

20%
0.00%

5.0

Billion Rs.

reflecting a decrease of 49.1 percent in FY12

Growth%

10.0

Total shareholders equity (TE) at Rs 3.1 billion


in FY11 shrank to Rs 1.6 billion in FY12

FY 12

0.07%

0.0
-5.0

TE

SC

RV

0%
-20%
UPL -31%
-40%

-49%
-10.0

-60%

ANALYSIS OF LIABILITIES
Total liabilities witnessed a decline of 34.1 percent from Rs 21.5 billion in FY11 to Rs 14.1 billion in
FY12. Share Composition of current and non-current liabilities to total liabilities was 83.1 and 16.9
percent respectively in FY12 as against 82.8 and 17.2 percent in FY11. Current liabilities decreased by
33.9 percent to reach Rs 11.8 billion in FY12.

ANALYSIS OF ASSETS

Current Assets

30.0

FY12. In absolute terms they decreased from Rs


24.4 billion in FY11 to Rs 15.7 billion in FY12.
Total current assets at Rs 19.5 billion in FY11
decreased to Rs 11.4 billion in FY12, showing a

Billion Rs.

Total assets declined by 35.8 percent during

20.0

19.1
11.4

10.9

10.0
0.3 0.5
0.0
Current Assets Cash & Bank
(CA)
Bal.

decrease of 41.4 percent. Cash and bank


balances at Rs 0.5 billion in FY12, reflected an

19.5

FY 11

Other CA

FY 12

increase of 39.6 percent over FY11. Other current assets at Rs 10.9 billion in FY12, showed a decrease
of 42.9 percent over FY11.

97

Financial Statement Analysis of Financial Sector

Total non-current assets at Rs 4.3


billion

in

FY12

showed

Non- Current Assets

FY 11

FY11. The main constituent

5.0

long-term investment has been

4.0

assets

in

FY12.

Billion Rs.

decrease of 13.8 percent over

6.0

25.9 percent of non-current

2012

Long-term

FY 12

5.0

4%

4.3

2.8

3.0
2.0

-14%

0.9 0.9

1.0

investments at Rs 1.1 billion in

Growth%

2.2

-10%
1.2 1.1

-21%

0.0
Non-Current Fixed Assets Long Trem
Assets
Invt.

FY12 decreased by 10.5 percent


from Rs 1.2 billion in FY11.

10%
5%
0%
-5%
-10%
-15%
-20%
-25%

Other NCA

Fixed assets in investment banks have been around Rs 0.9 billion both in FY11 and FY12.

PROFITABILITY AND OPERATING EFFICIENCY


Gross revenue at Rs 1.5 billion in

Profit & Loss Account

FY12 decreased by 34.3 percent

FY 11
3.0

from Rs 2.3 billion in FY11. The


and

operating

expenses showed a decrease of


18.3 percent in FY12. Operating

Billion Rs.

administrative

2.0
1.0

2.3

FY 12
-25%

-34%2.0
-34%
1.5 1.0-18%
0.9
0.8
0.6

-50%

1.5
-135%

0.0
-1.0

profit declined by 34.0 percent

-2.0

from Rs 935.9 million in FY11

-3.0

Growth%
0%

GR

AMIN

OP

FC

PBT
PAT
-0.8
-0.9
-204%
-2.0
-2.3

-100%
-150%
-200%
-250%

to Rs 618.0 million in FY12. Finance cost decreased by 25.2 percent to reach Rs 1.5 billion in FY12
from Rs 2.0 billion in FY11. Losses of investment banks before and after taxes were Rs 2.3 billion and
Rs 2.0 billion respectively in FY12.
Return on equity (ROE), return

-13.4%

Profitability Ratios

-36.9%

on capital employed (ROCE),

-3.8% ROA
-12.9%

return on assets (ROA) and


return

on

revenue

both in FY11 and FY12.

-69.3%

(ROR)

remained in the negative zone

ROR

ROCE

-11.9%
-129.2%

ROE

-27.9%
-140%

-120%
FY 12

98

-100%

-80%
FY 11

-60%

-40%

Poly. (FY 11)

-20%

0%

Poly. (FY 12)

Financial Statement Analysis of Financial Sector

Investment Banks - Overall

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

9,526,688

3,861,474

3,956,573

3,075,435

1,565,563

1.Share capital

7,625,153

9,472,352

8,809,385

8,809,385

8,809,385

2.Reserves

1,752,876

(839,614)

(892,104)

(858,319)

(857,760)

148,659

(4,771,264)

(3,960,708)

(4,875,631)

(6,386,062)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit/loss

(711,925)

(135,740)

(69,578)

(105,833)

(24,817)

45,556,092

32,722,638

22,647,951

21,456,241

14,141,973

1.Current liabilities

33,856,343

22,467,310

17,502,134

17,765,603

11,751,023

4.Others

B.Total liabilities (B1 + B2)


2.Non-current liabilities

11,699,749

10,255,328

5,145,817

3,690,638

2,390,950

C.Total assets (C1+C2)

54,370,855

36,448,372

26,534,946

24,425,843

15,682,719

1.Current assets (a + b)

38,590,037

22,359,537

18,320,595

19,454,866

11,397,705

1,792,740

879,937

627,788

346,509

483,765

36,797,297

21,479,600

17,692,807

19,108,357

10,913,940

15,780,818

14,088,835

8,214,351

4,970,977

4,285,014

a.Fixed assets

1,651,142

2,357,479

1,089,410

893,086

932,697

b.Long-term investments

9,118,257

3,765,840

2,971,874

1,240,489

1,110,823

c.Other non-current assets

5,011,419

7,965,516

4,153,067

2,837,402

2,241,494

1.Gross revenue

6,599,385

2,808,171

2,862,407

2,323,809

1,529,708

2.Administartive & operating expenses

1,914,881

998,055

1,493,077

1,019,462

833,207

3.Operating profit

4,545,526

1,810,116

1,369,330

935,914

617,994

4.Finance cost

2,977,616

3,259,862

2,235,220

2,000,693

1,495,781

5.Profit/(loss) before taxation

694,271

(5,043,689)

(1,885,521)

(771,710)

(2,347,083)

6.Profit/(loss) after taxation

934,899

(4,063,536)

(1,343,741)

(859,567)

(2,022,878)

676,615

857,235

880,939

880,940

880,939

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

D.Profit & loss account

E.Other items
1.No. of shares
2.Cash dividend

N/A

N/A

N/A

N/A

N/A

3.Stock dividend/bonus shares

N/A

N/A

N/A

N/A

N/A

(1,530,066)

(992,255)

3,104,579

1.Return on equity (ROE) (D6/A)

9.81%

-105.23%

-33.96%

-27.95%

-129.21%

2.Return on capital employed (ROCE) (D5/(C-B1))

3.38%

-36.08%

-20.87%

-11.59%

-59.70%

3.Return on assets (ROA) (D6/C)

1.72%

-11.15%

-5.06%

-3.52%

-12.90%

14.17%

-144.70%

-46.94%

-36.99%

-132.24%

204.82%

-24.56%

-111.11%

-118.60%

-41.19%

1.38

-4.74

-1.53

-0.98

-2.30

1.Current assets to current liabilities (C1/B1) (times)

1.14

1.00

1.05

1.10

0.97

2.Total liabilities to total assets (B/C) (times)

0.84

0.90

0.85

0.88

0.90

16.77%

10.33%

11.20%

5.08%

7.08%

17.52%

10.59%

14.91%

12.59%

9.98%

14.08

4.50

4.49

3.49

1.78

-1.64

0.24

-2.31

0.24

-0.01

4.Cash generated from operating activities

(205,553)

11,644

F.Efficiency ratios/profitability ratios

4.Return on revenue (ROR) (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

99

Financial Statement Analysis of Financial Sector

Escorts Investment Bank Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

851,850

597,403

366,292

304,107

268,703

1.Share capital

441,000

441,000

441,000

441,000

441,000

2.Reserves

154,050

154,050

154,050

154,050

154,050

3.Unappropriated profit/loss

256,800

2,353

(228,758)

(290,943)

(326,347)

Items
A.Total equity (A1 to A3)

(3,533)

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

7,269

6,824

5,648,593

1,502,971

1,289,870

1,854,696

(2,499)

1,699,759

31,067

4,737,057

971,888

866,129

1,736,893

1,462,806

911,536

531,083

423,741

117,803

236,953

C.Total assets (C1+C2)

6,496,910

2,107,643

1,662,986

2,156,304

1,999,529

1.Current assets (a + b)

5,394,443

1,108,243

851,787

1,723,184

1,567,758

2.Non-current liabilities

306,542

19,478

19,508

26,434

48,339

5,087,901

1,088,765

832,279

1,696,750

1,519,419

1,102,467

999,400

811,199

433,120

431,771

a.Fixed assets

135,383

106,581

90,658

82,481

109,504

b.Long-term investments

556,374

544,938

530,943

157,234

100,994

c.Other non-current assets

410,710

347,881

189,598

193,405

221,273

1.Gross revenue

804,919

356,524

182,339

226,765

249,454

2.Administartive & operating expenses

238,319

141,833

91,007

85,905

71,410

3.Operating profit

566,600

214,691

91,332

140,860

178,044

4.Finance cost

201,267

92,854

32,358

76,167

126,126

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

D.Profit & loss account

94,512

3,803

(111,835)

(64,410)

(44,359)

137,817

(166,247)

(115,298)

(62,185)

35,404

1.No. of shares

44,100

44,100

44,100

44,100

44,100

2.Cash dividend

20.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

259,937

(124,831)

188,243

134,072

3,184

-27.83%

-31.48%

-20.45%

13.18%
-8.26%

5.Profit/(loss) before taxation


6.Profit/(loss) after taxation

E.Other items

3.Stock dividend/bonus shares


4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


16.18%

1.Return on equity (ROE) (D6/A)


2.Return on capital employed (ROCE) (D5/(C-B1))

5.37%

0.33%

-14.03%

-15.36%

3.Return on assets (ROA) (D6/C)

2.12%

-7.89%

-6.93%

-2.88%

1.77%

17.12%

-46.63%

-63.23%

-27.42%

14.19%

172.92%

-85.31%

-78.93%

-138.14%

201.70%

3.13

-3.77

-2.61

-1.41

0.80

1.Current assets to current liabilities (C1/B1) (times)

1.14

1.14

0.98

0.99

1.07

2.Total liabilities to total assets (B/C) (times)

0.87

0.71

0.78

0.86

0.85

8.56%

25.86%

31.93%

7.29%

5.05%

13.11%

28.34%

22.03%

14.10%

13.44%

19.32

13.55

8.31

6.90

6.09

1.89

0.75

-1.63

-2.16

0.09

4.Return on revenue (ROR) (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

100

Financial Statement Analysis of Financial Sector

First Credit and Investment Bank

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

557,982

808,568

816,442

727,979

656,782

1.Share capital

400,000

650,000

650,000

650,000

650,000

2.Reserves

114,558

116,089

117,663

117,663

117,663

43,424

42,479

48,779

(39,684)

(110,881)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit/loss

(7,800)

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

(22,388)

(14,967)

(12,587)

(19,447)

1,179,071

1,014,317

663,249

802,483

583,742

1,089,771

1,014,217

533,249

594,358

449,542

89,300

100

130,000

208,125

134,200

C.Total assets (C1+C2)

1,729,253

1,800,497

1,464,724

1,517,875

1,221,077

1.Current assets (a + b)

1,000,427

835,328

621,476

699,191

504,156

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

13,969

31,469

18,898

8,598

4,514

986,458

803,859

602,578

690,593

499,642

728,826

965,169

843,248

818,684

716,921

9,730

6,943

4,461

12,072

13,025

629,687

788,163

786,088

676,605

560,575

89,409

170,063

52,699

130,007

143,321

178,306

214,296

164,282

137,804

139,198

39,328

46,240

49,064

49,177

49,027

D.Profit & loss account


1.Gross revenue
2.Administartive & operating expenses

168,056

115,218

88,627

90,171

102,461

106,488

81,280

92,344

91,041

5.Profit/(loss) before taxation

24,923

12,751

5,015

(136,419)

(85,113)

6.Profit/(loss) after taxation

16,038

7,655

7,874

(88,462)

(71,197)

1.No. of shares

44,100

65,000

65,000

65,000

65,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(12,572)

388,496

351,427

(115,855)

144,075

1.Return on equity (ROE) (D6/A)

2.87%

0.95%

0.96%

-12.15%

-10.84%

2.Return on capital employed (ROCE) (D5/(C-B1))

3.90%

1.62%

0.54%

-14.77%

-11.03%

3.Return on assets (ROA) (D6/C)

0.93%

0.43%

0.54%

-5.83%

-5.83%

4.Return on revenue (ROR) (D6/D1)

8.99%

3.57%

4.79%

-64.19%

-51.15%

245.22%

604.05%

623.11%

-55.59%

-68.86%

0.36

0.12

0.12

-1.36

-1.10

1.Current assets to current liabilities (C1/B1) (times)

0.92

0.82

1.17

1.18

1.12

2.Total liabilities to total assets (B/C) (times)

0.68

0.56

0.45

0.53

0.48

36.41%

43.77%

53.67%

44.58%

45.91%

32.27%

44.91%

55.74%

47.96%

53.79%

12.65

12.44

12.56

11.20

10.10

-0.78

50.75

44.63

1.31

-2.02

3.Operating profit
4.Finance cost

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

5.Operating expenses to net income (D2/D6)


6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

101

Financial Statement Analysis of Financial Sector

First Dawood Investment Bank Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Unappropriated profit/loss

1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

1,778,996

(403,246)

688,563

615,906

210,885
1,342,326

569,539

626,493

1,342,326

1,342,326

1,024,030

258,210

333,745

333,745

333,745

185,427

(1,287,949)

(987,508)

(1,060,165)

(1,465,186)

4.Others

B.Total liabilities (B1 + B2)

2012

(67,871)

(24,762)

(9,988)

9,285,199

5,655,107

(115,445)

2,527,415

1,233,747

952,970

7,102,703

4,339,578

1,309,872

656,529

669,075

2.Non-current liabilities

2,182,496

1,315,529

1,217,543

577,218

283,895

C.Total assets (C1+C2)

11,064,195

5,136,416

3,148,107

1,824,891

1,153,867

1.Current assets (a + b)

8,667,974

3,444,409

2,291,378

1,298,387

684,799

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

33,756

194,340

146,587

114,052

139,860

8,634,218

3,250,069

2,144,791

1,184,335

544,939

2,396,221

1,692,007

856,729

526,504

469,068

62,028

85,681

9,432

69,471

7,487

b.Long-term investments

1,064,499

410,190

22,961

163,947

186,929

c.Other non-current assets

1,269,694

1,196,136

824,336

293,086

274,652

1,468,881

235,222

292,791

192,259

14,730

97,377

94,049

99,623

88,027

84,482

1,371,504

141,173

193,168

104,232

(69,752)

980,004

1,128,269

123,891

18,403

4,875

a.Fixed assets

D.Profit & loss account


1.Gross revenue
2.Administartive & operating expenses
3.Operating profit
4.Finance cost

36,112

(1,807,575)

234,253

12,905

(408,083)

113,655

(1,791,422)

377,676

(44,024)

(376,388)

1.No. of shares

56,954

62,649

134,233

134,233

134,233

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

10.00%

0.00%

0.00%

0.00%

0.00%

(256,868)

(485,352)

1,190,133

320,540

99,447

1.Return on equity (ROE) (D6/A)

0.06%

444.25%

54.85%

-7.15%

-178.48%

2.Return on capital employed (ROCE) (D5/(C-B1))

0.01%

-226.84%

12.74%

1.10%

-84.18%

3.Return on assets (ROA) (D6/C)

0.01%

-34.88%

12.00%

-2.41%

-32.62%

4.Return on revenue (ROR) (D6/D1)

0.08%

-761.59%

128.99%

-22.90%

-2,555.25%

5.Operating expenses to net income (D2/D6)

0.86%

-5.25%

26.38%

-199.95%

-22.45%

2.00

-28.59

2.81

-0.33

-2.80

1.Current assets to current liabilities (C1/B1) (times)

1.22

0.79

1.75

1.98

1.02

2.Total liabilities to total assets (B/C) (times)

0.84

1.10

0.80

0.68

0.83

0.10%

7.99%

0.73%

8.98%

16.20%

0.16%

-7.85%

21.87%

33.75%

18.28%

31.24

-6.44

5.13

4.59

1.57

-2.26

0.27

3.15

-7.28

-0.26

5.Profit/(loss) before taxation


6.Profit/(loss) after taxation

E.Other items

3.Stock dividend/bonus shares


4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

102

Financial Statement Analysis of Financial Sector

IGI Investment Bank Ltd.


Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

2,244,315

1,869,229

1,383,636

1,112,063

1,158,179
2,121,025

2,121,025

2,121,025

2,121,025

2,121,025

2.Reserves

136,831

136,831

115,145

115,145

115,145

3.Unappropriated profit/loss

(13,541)

(388,627)

(852,534)

(1,124,107)

(1,077,991)

1.Share capital

(38,096)

(55,489)

(37,372)

7,649,150

(62,069)

4,681,192

7,170,566

8,258,383

3,259,742

1.Current liabilities

6,040,538

3,991,601

6,552,288

7,799,232

2,867,370

4.Others

B.Total liabilities (B1 + B2)

(1,767)

2.Non-current liabilities

1,608,612

689,591

618,278

459,151

392,372

C.Total assets (C1+C2)

9,831,396

6,548,654

8,516,106

9,314,957

4,380,549

1.Current assets (a + b)

6,997,249

4,018,714

6,433,626

8,673,144

3,527,189

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

849,863

112,664

216,618

138,606

182,851

6,147,386

3,906,050

6,217,008

8,534,538

3,344,338

2,834,147

2,529,940

2,082,480

641,813

853,360
151,837

112,052

88,449

188,030

151,764

2,310,472

1,293,943

1,392,615

22,932

26,179

411,623

1,147,548

501,835

467,117

675,344

1.Gross revenue

764,137

769,368

1,047,236

923,231

609,533

2.Administartive & operating expenses

234,108

208,593

423,043

380,537

287,174

3.Operating profit

530,029

560,775

624,193

545,694

322,359

4.Finance cost

571,086

643,352

705,419

873,001

565,336

5.Profit/(loss) before taxation

(45,637)

(450,654)

(399,790)

(208,767)

(806,437)

(6,386)

375,086

(164,268)

(271,618)

(603,884)

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

6.Profit/(loss) after taxation

E.Other items
212,102

212,102

212,102

212,103

212,103

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(368,225)

157,909

676,242

(622,551)

(494,834)

1.Return on equity (ROE) (D6/A)

-0.28%

20.07%

-11.87%

-24.42%

-52.14%

2.Return on capital employed (ROCE) (D5/(C-B1))

-1.20%

-17.62%

-20.36%

-13.77%

-53.29%

3.Return on assets (ROA) (D6/C)

-0.06%

5.73%

-1.93%

-2.92%

-13.79%

4.Return on revenue (ROR) (D6/D1)

-0.84%

48.75%

-15.69%

-29.42%

-99.07%

-3,665.96%

55.61%

-257.53%

-140.10%

-47.55%

-0.03

1.77

-0.77

-1.28

-2.85

1.Current assets to current liabilities (C1/B1) (times)

1.16

1.01

0.98

1.11

1.23

2.Total liabilities to total assets (B/C) (times)

0.78

0.71

0.84

0.89

0.74

23.50%

19.76%

16.35%

0.25%

0.60%

22.83%

28.54%

16.25%

11.94%

26.44%

10.58

8.81

6.52

5.24

5.46

57.66

0.42

-4.12

2.29

0.82

1.No. of shares

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

5.Operating expenses to net income (D2/D6)


6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

103

Financial Statement Analysis of Financial Sector

Invest Capital Investment Bank Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2008

2009

2010

380,238

853,716

214,273

2012

(Thousand Rupees)
2011
2012
(299,028)

(289,723)

746,424

2,727,669

2,848,669

2,848,669

2,848,669

(347,924)

(2,022,076)

(2,022,076)

(2,022,076)

(2,022,076)

(18,262)

148,123

(612,320)

(1,125,621)

(1,116,316)

190,476

144,871

17,189

9,259

9,258

1,457,526

6,848,396

4,841,876

3,677,196

2,468,157

1,456,235

4,779,208

3,896,071

2,997,097

1,991,616

1,291

2,069,188

945,805

680,099

476,541

C.Total assets (C1+C2)

2,028,240

7,846,983

5,073,338

3,387,427

2,187,692

1.Current assets (a + b)

1,646,427

5,073,978

3,686,464

2,531,467

1,671,211

2.Non-current liabilities

59,435

248,332

75,318

15,341

62,199

1,586,992

4,825,646

3,611,146

2,516,126

1,609,012

381,813

2,773,005

1,386,874

855,960

516,481

a.Fixed assets

159,020

946,976

463,409

310,817

199,006

b.Long-term investments

189,738

175,439

128,543

112,882

84,906

33,055

1,650,590

794,922

432,261

232,569

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account


1.Gross revenue

298,511

126,349

636,391

215,467

190,148

2.Administartive & operating expenses

211,663

(239,922)

612,798

228,676

156,939

3.Operating profit

86,848

366,271

23,593

(13,209)

33,209

4.Finance cost

88,794

(60,849)

561,067

325,595

110,536

(4,521)

175,970

(717,297)

(435,909)

10,982

(19,468)

165,350

(761,121)

(436,621)

9,305

1.No. of shares

74,642

272,767

284,867

284,867

284,867

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(380,013)

374,906

554,605

105,597

(123,566)

1.Return on equity (ROE) (D6/A)

-0.05%

19.37%

-355.21%

146.01%

-3.21%

2.Return on capital employed (ROCE) (D5/(C-B1))

-0.01%

5.74%

-60.93%

-111.68%

5.60%

3.Return on assets (ROA) (D6/C)

-0.01%

2.11%

-15.00%

-12.89%

0.43%

4.Return on revenue (ROR) (D6/D1)

-0.07%

130.87%

-119.60%

-202.64%

4.89%

-10.87%

-145.10%

-80.51%

-52.37%

1,686.61%

-0.26

0.61

-2.67

-1.53

0.03

1.Current assets to current liabilities (C1/B1) (times)

1.13

1.06

0.95

0.84

0.84

2.Total liabilities to total assets (B/C) (times)

0.72

0.87

0.95

1.09

1.13

0.09%

2.24%

2.53%

3.33%

3.88%

0.19%

10.88%

4.22%

-8.83%

-13.24%

5.09

3.13

0.75

-1.05

-1.02

19.52

2.27

-0.73

-0.24

-13.28

5.Profit/(loss) before taxation


6.Profit/(loss) after taxation

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

5.Operating expenses to net income (D2/D6)


6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

104

Financial Statement Analysis of Financial Sector

Security Investment Bank Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

680,706

488,012

511,929

518,022

522,279

1.Share capital

514,336

514,336

514,336

514,336

514,336

2.Reserves

139,650

139,650

141,611

142,123

142,682

26,720

(165,974)

(144,018)

(138,437)

(134,739)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

(376,279)

(37,333)

(45,313)

(47,431)

(17,708)

627,119

508,819

296,883

392,895

390,455

620,833

500,880

296,883

392,895

390,455

6,286

7,939

C.Total assets (C1+C2)

931,546

959,498

763,499

863,486

895,026

1.Current assets (a + b)

699,235

738,195

632,472

738,640

776,810

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

26,255

28,117

7,664

14,180

35,530

672,980

710,078

624,808

724,460

741,280

232,311

221,303

131,027

124,846

118,216

4,919

3,630

1,813

1,749

1,496

151,220

151,141

51,062

50,983

86,904

76,172

66,532

78,152

72,114

29,816

192,045

64,289

88,186

68,048

85,279

31,435

27,399

33,842

32,112

32,910

160,610

36,890

54,344

35,936

52,369

45,637

29,409

48,098

D.Profit & loss account


1.Gross revenue
2.Administartive & operating expenses
3.Operating profit
4.Finance cost
5.Profit/(loss) before taxation

26,828

(202,728)

8,708

6,526

4,272

6.Profit/(loss) after taxation

26,619

(192,693)

13,204

6,093

4,256

1.No. of shares

51,434

51,434

51,434

51,434

51,434

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(27,543)

(31,171)

(168,174)

(41,234)

11,708

1.Return on equity (ROE) (D6/A)

0.04%

-39.49%

2.58%

1.18%

0.81%

2.Return on capital employed (ROCE) (D5/(C-B1))

0.09%

-44.20%

1.87%

1.39%

0.85%

3.Return on assets (ROA) (D6/C)

0.03%

-20.08%

1.73%

0.71%

0.48%

4.Return on revenue (ROR) (D6/D1)

0.14%

-299.73%

14.97%

8.95%

4.99%

5.Operating expenses to net income (D2/D6)

1.18%

-14.22%

256.30%

527.03%

773.26%

0.52

-3.75

0.26

0.12

0.08

1.Current assets to current liabilities (C1/B1) (times)

1.13

1.47

2.13

1.88

1.99

2.Total liabilities to total assets (B/C) (times)

0.67

0.53

0.39

0.46

0.44

0.16%

15.75%

6.69%

5.90%

9.71%

0.73%

50.86%

67.05%

59.99%

58.35%

13.24

9.49

9.95

10.07

10.15

-1.04

0.16

-12.74

-6.77

2.75

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

105

Financial Statement Analysis of Financial Sector

Trust Investment Bank Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,095,609

380,731

(24,562)

96,386

(961,542)

1.Share capital

585,529

585,529

892,029

892,029

892,029

2.Reserves

267,758

267,759

267,758

301,031

301,031

3.Unappropriated profit/loss

242,322

(472,557)

(1,184,349)

(1,096,674)

(2,154,602)

Items
A.Total equity (A1 to A3)

72,656

27,676

19,373

7,106,813

(270,341)

6,315,225

5,858,092

5,236,841

4,787,148

1.Current liabilities

4,776,224

4,243,904

4,047,642

3,588,599

3,920,159

4.Others

B.Total liabilities (B1 + B2)

(220,625)

2.Non-current liabilities

2,330,589

2,071,321

1,810,450

1,648,242

866,989

C.Total assets (C1+C2)

7,932,081

6,475,331

5,906,186

5,360,903

3,844,979

1.Current assets (a + b)

3,510,993

4,277,208

3,803,392

3,790,853

2,665,782

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

93,289

158,792

143,195

29,298

10,472

3,417,704

4,118,416

3,660,197

3,761,555

2,655,310

4,421,088

2,198,123

2,102,794

1,570,050

1,179,197
450,342

157,284

110,710

331,607

264,732

3,420,843

162,976

59,662

55,906

64,336

842,961

1,924,437

1,711,525

1,249,412

664,519

1.Gross revenue

949,051

694,857

451,182

560,235

241,366

2.Administartive & operating expenses

193,656

173,142

183,700

155,028

151,265

3.Operating profit

755,395

521,715

267,482

33,774

11,594

4.Finance cost

538,473

875,119

685,568

585,774

549,769

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

66,124

(976,389)

(904,575)

54,364

(1,018,345)

149,783

(715,226)

(701,808)

37,250

(1,020,374)

1.No. of shares

58,553

58,553

89,203

89,203

89,203

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(1,211,474)

660,426

312,103

13,878

371,630

13.67%

-187.86%

2,857.29%

38.65%

106.12%

2.Return on capital employed (ROCE) (D5/(C-B1))

2.10%

-43.76%

-48.67%

3.07%

1,354.54%

3.Return on assets (ROA) (D6/C)

1.89%

-11.05%

-11.88%

0.69%

-26.54%

15.78%

-102.93%

-155.55%

6.65%

-422.75%

129.29%

-24.21%

-26.18%

416.18%

-14.82%

2.56

-12.22

-7.87

0.42

-11.44

1.Current assets to current liabilities (C1/B1) (times)

0.74

1.01

0.94

1.06

0.68

2.Total liabilities to total assets (B/C) (times)

0.90

0.98

0.99

0.98

1.25

43.13%

2.52%

1.01%

1.04%

1.67%

13.81%

5.88%

-0.42%

1.80%

-25.01%

18.71

6.50

-0.28

1.08

-10.78

-8.09

-0.92

-0.44

0.37

-0.36

5.Profit/(loss) before taxation


6.Profit/(loss) after taxation

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

4.Return on revenue (ROR) (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Earning per share (D6/E1)

G.Liquidity ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

106

Financial Statement Analysis of Financial Sector

2012

MUTUAL FUNDS (CLOSE ENDED)


PERFORMANCE AT A GLANCE
Balance sheet size of Mutual Funds contracted by 6.1 percent in FY12 over FY11. Total assets
decreased from Rs. 25.9 billion in FY11 to Rs. 24.3 billion in FY12. Net income was Rs. 2.6 billion in
FY12 as compared to Rs. 4.3 billion in FY11.

ANALYSIS OF BALANCE SHEET COMPONENTS


Total equity of mutual funds witnessed a

Components of Balance Sheet

decrease of Rs. 1.8 billion or 8.6 percent

30

in FY12 over FY11. Total assets

25

to Rs. 24.3 billion in FY12 showing a

20

Billion Rs.

decreased from Rs. 25.9 billion in FY11

50%
35%

20%

-6%

-9%

-10%

15
-40%

10

-70%

decrease of 6.1 percent over FY11.

Analysis revealed that around 86.8

-100%

Total Equity

Total
Liabilities

Total Assets

percent of total assets was in form of

FY 11

20.7

0.6

25.9

FY 12

18.9

0.8

24.3

investments as compared to 90.6 percent

Growth

-9%

35%

-6%

in FY11.
Certificate holders equity declined by

Major Components of Assets

6.7 percent and reserves by 22.4 percent

30.0

in FY12 over FY11.Cash and bank


FY11 to Rs. 2.3 billion in FY12,
registering an increase of 23.4 percent

Billion Rs.

balances increased from Rs. 1.8 billion in

25.0

0.6

0.9
others

20.0

Investments
15.0

23.4

21.1

1.8

2.3

FY 11

FY 12

Cash & Bank Bal.

10.0

over FY11. Investment decreased from

5.0

Rs. 23.4 billion in FY11 to Rs. 21.1

0.0

billion in FY12.Certificate holders equity


decreased from Rs. 19.3 billion in FY11 to Rs. 18.0 billion in FY12.The two other components of
equity reserves and un-appropriated loss also deterioated during the year under review. Reserves
decreased from Rs. 2.1 billion in FY11 to Rs. 1.6 billion in FY12; a decrease of around 22.4 percent.
Un-appropriated loss witnessed an increase of about 2.4 percent in FY12 over FY11.

107

Financial Statement Analysis of Financial Sector

Major Sources of Income

ANALYSIS OF PROFITABILITY

6.0
-8%

5.0

income

side,

total

income

decreased from Rs. 5.0 billion in

3.0
2.0
0.0

registering a decrease of around 34.7


percent. Income has mainly been

Interest
Income

Dividend
Income

FY 11

5.0

0.5

1.4

FY 12

3.3

0.5

1.3

1.6

-35%

-15%

-8%

-50%

Growth

which was Rs. 1.4 billion in FY11


Billion Rs.

1.00

expenses constituted remuneration to


investment

percent. Return on assets (ROA)

FY11. Return on revenue (ROR) also


decreased from 86.20 percent in
FY11 to 79.24 percent in FY12.

0.03
0.18

0.54

0.48

FY 11

FY 12

0.50

Others

while in FY11 it was around 73.0

as compared to 16.71 percent in

0.02
0.14

0.00

adviser

decreased in FY12 to 10.67 percent

3.1

Composition of Expenses

and capital gains.Dividend income

management/

0%
-5%
-10%
-15%
-20%
-25%
-30%
-35%
-40%
-45%
-50% -50%
Other
Income

Total
Income

generated through dividend income

During FY12, 65.5 percent of total

-35%

1.0

FY11 to Rs.3.3 billion in FY12,

decreased to Rs. 1.3 billion in FY12.

-15%

4.0

Billion Rs.

On

2012

Admin. & General Expenses

Management Co. Fee

Profitability/Efficiency Ratios
100%
90%
80%

86.2%
79.2%

73.0%
65.5%

70%
60%
50%

FY 11

40%

FY 12

30%

16.7%
10.7%

20%
10%
0%

ROR

108

ROA

MER

Financial Statement Analysis of Financial Sector

Mutual Fund Companies - Overall


Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

44,087,199

26,147,432

25,501,548

20,702,164

18,915,952

31,455,897

30,670,643

27,991,275

19,278,186

17,982,787

2.Reserves

3,853,662

1,470,976

2,010,049

2,116,202

1,641,820

3.Unappropriated profit/loss

8,777,640

(5,994,187)

(4,499,776)

4.Others

5,162,631

4,310,912

4,653,700

4,587,609

4,597,282

607,003

510,262

1,041,484

566,053

764,055

148,037

109,447

1,305,019

47,052

51,268

1.Certificate holders equity

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

(692,224)

(708,655)

458,966

400,815

(263,535)

519,001

712,787

C.Total assets (C1 to C3)

49,856,833

30,968,606

31,196,732

25,855,826

24,277,289

1.Cash & bank balances

5,340,247

3,898,511

2,680,736

1,847,173

2,279,109

43,359,823

25,980,030

26,820,367

23,432,320

21,073,678

1,156,763

1,090,065

1,695,629

576,333

924,502

1,518,537

(12,401,221)

4,071,221

5,012,055

3,270,507

781,834

833,365

828,552

548,862

464,914

1,758,182

1,566,546

1,180,212

1,363,218

1,253,632

2.Others

2.Investments
3.Others

D.Profit & loss account


1.Income (a to g)
a.Markup/interest income
b.Dividend income
c.Income from future transactions

(15,000)

3,566

d.Net gain on sale of investments

2,066,257

(4,529,115)

935,685

920,399

412,914

(3,376,571)

(5,888,409)

(1,360,940)

461,407

413,257

267,513

(4,045,573)

2,463,123

1,734,608

775,138

36,322

(341,601)

24,589

(16,439)

(49,348)

e.Net unrealized gain/(loss) on investment


f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians
3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

1,449,582

1,593,046

1,073,612

691,772

678,986

1,141,061

684,830

664,963

505,178

444,878

45,480

33,104

31,607

23,752

22,288

36,584

11,325

16,462

8,794

8,613

201,774

847,159

336,536

135,573

175,333

24,683

16,628

24,044

18,475

27,874

(13,994,267)

2,997,609

4,320,283

2,591,521

3,143,114

2,872,868

2,003,867

1,874,328

68,955

F.Net income for the year (D1-E)


G.Other items

3,205,297

1.No. of units (000)


2.Cash dividend

N/A

N/A

N/A

N/A

3.Stock dividend/bonus shares

N/A

N/A

N/A

N/A

(2,120,718)

(632,206)

-67.27%

119.35%

50.66%

61.85%

47.45%

-0.99%

-0.03%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

1,321,816

1,105,290

N/A
N/A
2,738,095

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)
3.Return on revenue (ROR) (F/D1)

4.54%

112.85%

73.63%

86.20%

79.24%

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

0.14%

-45.19%

9.61%

16.71%

10.67%

5.Management expenses (E1/E)

78.72%

42.99%

61.94%

73.03%

65.52%

6.Net assets value per share (A1/G1)

9.81

9.76

9.74

9.62

9.59

7.Earning per share (F/G1)

0.02

-4.45

1.04

2.16

1.38

10.71%

12.59%

8.59%

7.14%

9.39%

1.22%

1.65%

3.34%

2.19%

3.15%

63.09%

99.04%

89.73%

74.56%

74.07%

0.05

0.44

0.26

1.06

I.Liquidity ratios
1.Cash & cash equivalent to total assets (C1/C)
2.Total liabilities to total assets (B/C)

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


-30.76

Cash generated from operating activities to net income (G4/F) (time)

109

Financial Statement Analysis of Financial Sector

Asian Stocks Fund Ltd.


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

795,973

488,553

634,569

645,077

745,644

900,000

900,000

900,000

900,000

900,000

17,795

(62,351)

(121,822)

(349,096)

(265,431)

(254,923)

0
(154,356)

14,883

2,027

5,160

2,545

3,070

1,493

838

1,050

1,089

1,445

13,390

1,189

4,110

1,456

1,625

C.Total assets (C1 to C3)

810,856

490,580

639,729

647,622

748,714

1.Cash & bank balances

26,068

2,805

97,700

2,923

59,586

748,744

485,037

536,162

635,911

682,761

36,044

2,738

5,867

8,788

6,367

35,503

(138,533)

177,934

2.Others

2.Investments
3.Others

D.Profit & loss account


1.Income (a to g)
a.Markup/interest income
b.Dividend income

101,444

101,012

11,488

12,669

3,437

25,558

22,062

15,503

26,510

37,033

c.Income from future transactions

(2,050)

d.Net gain on sale of investments

e.Net unrealized gain/(loss) on investment


f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

0
(162,473)
0

116,881

42,745

27,078

(42,429)

19,065

110,386

11,995

1,878

23

25,732

77,166

20,354

16,704

17,967

17,799

10,744

13,101

13,179

14,485

699

656

601

634

1,216

1,347

4.Administrative and general expenses

4,616

65,490

6,580

1,708

1,501

5.Other

3,317

233

17

(215,699)

81,090

84,308

159,967

3.Brokerage-commission /fee

9,771

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

90,000

90,000

90,000

90,000

90,000

2.Cash dividend

0.00%

0.00%

8.20%

6.60%

6.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(186,085)

(24,263)

94,895

(94,777)

56,663

28.01%

115.93%

73.39%

61.21%

77.26%

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

27.52%

155.70%

79.94%

83.46%

89.90%

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

1.21%

-43.97%

12.68%

13.02%

21.37%

5.Management expenses (E1/E)

69.17%

13.92%

64.37%

78.90%

80.62%

10.00

10.00

10.00

10.00

10.00

0.11

-2.40

0.90

0.94

1.78

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

3.21%

0.57%

15.27%

0.45%

7.96%

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

1.84%

0.41%

0.81%

0.39%

0.41%

110.99%

183.46%

140.68%

138.97%

120.21%

-19.04

0.11

1.17

-1.12

0.35

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)


7.Earning per share (F/G1)

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

110

Financial Statement Analysis of Financial Sector

Atlas Fund of Funds


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves

4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

(Thousand Rupees)
2011
2012

2008

2009

2010

592,196

282,816

348,806

472,946

483,442

525,000

525,000

525,000

525,000

525,000

67,196

3.Unappropriated profit/loss

2012

(242,184)

(176,194)

(52,054)

(41,558)

(157)

(3,377)

(38,414)

(59,789)

8,298

2,506

5,913

9,646

8,404

2,314

690

551

679

576

5,984

1,816

5,362

8,967

7,828

C.Total assets (C1 to C3)

600,494

285,165

351,342

444,178

432,057

1.Cash & bank balances

76,653

55,973

34,072

16,087

11,509

512,303

226,189

306,439

419,914

409,173

11,538

3,003

10,831

8,177

11,375

90,620

2.Others

2.Investments
3.Others

D.Profit & loss account


45,705

(258,159)

77,754

147,383

a.Markup/interest income

10,961

5,813

3,166

5,483

3,272

b.Dividend income

49,212

18,348

12,944

38,110

32,055

1.Income (a to g)

c.Income from future transactions

d.Net gain on sale of investments

9,327

(11,908)

5,848

27,367

15,862

(23,795)

(270,412)

55,002

66,914

39,231

e.Net unrealized gain/(loss) on investment


f.Capital gain

g.Other income

794

9,509

200

17,784

11,847

11,763

12,542

13,165

14,303

10,136

8,340

6,960

7,220

958

629

636

740

752

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians
3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

839

160

175

227

173

1,684

922

2,612

4,615

5,020

27,921

(270,006)

65,991

134,841

77,455

1.No. of units (000)

52,500

52,500

52,500

52,500

52,500

2.Cash dividend

0.00%

0.00%

2.20%

15.00%

9.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

34,852

22,601

(15,802)

20,977

83,240

-31.66%

109.36%

79.28%

70.42%

61.02%

0.00%

0.00%

0.00%

0.00%

0.00%

F.Net income for the year (D1-E)


G.Other items

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

61.09%

104.59%

84.87%

91.49%

85.47%

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

4.65%

-94.68%

18.78%

30.36%

17.93%

5.Management expenses (E1/E)

80.43%

85.56%

70.90%

55.49%

54.84%

10.00

10.00

10.00

10.00

10.00

0.53

-5.14

1.26

2.57

1.48

12.76%

19.63%

9.70%

3.62%

2.66%

1.38%

0.88%

1.68%

2.17%

1.95%

87.43%

184.10%

149.43%

118.20%

121.51%

1.25

-0.08

-0.24

0.16

1.07

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)


7.Earning per share (F/G1)

I.Liquidity ratios
1.Cash & cash equivalent to total assets (C1/C)
2.Total liabilities to total assets (B/C)

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

111

Financial Statement Analysis of Financial Sector

First Capital Mutual Fund Ltd.


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor
2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

337,605

203,306

231,229

257,219

277,799

300,000

300,000

300,000

300,000

300,000

37,605

(96,694)

(68,771)

(42,781)

(22,201)

10,964

6,952

13,857

16,081

8,428

7,436

4,144

4,879

5,009

5,297

3,528

2,808

8,978

11,072

3,131

348,569

210,258

245,086

273,300

286,227

8,752

7,954

70,443

36,187

5,656

336,537

195,890

172,919

232,307

280,234

3,280

6,414

1,724

4,806

337

(30,743)

(126,751)

42,193

42,219

34,024

1,365

3,981

10,231

14,309

13,650

13,090

10,125

12,126

11,984

D.Profit & loss account


1.Income (a to g)
a.Markup/interest income
b.Dividend income
c.Income from future transactions

d.Net gain on sale of investments

23,516

(98,205)

37,839

21,975

13,224

(71,012)

(43,001)

(9,752)

(2,692)

(5,493)

e.Net unrealized gain/(loss) on investment


f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

3,103

579

10,847

7,070

13,257

13,486

12,783

7,436

4,144

4,879

5,009

5,297

406

364

1,444

1,465

1,302

3.Brokerage-commission /fee

461

482

4.Administrative and general expenses

2,562

6,934

6,551

5,702

3,005

5.Other

(41,590)

(133,821)

28,936

28,733

21,241

1.No. of units (000)

35,000

30,000

30,000

30,000

30,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

6.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(12,043)

(797,303)

62,488

(34,256)

(30,531)

144.40%

111.40%

66.57%

47.05%

22.72%

0.00%

0.00%

0.00%

0.00%

0.00%
62.43%

F.Net income for the year (D1-E)


G.Other items

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)
3.Return on revenue (ROR) (F/D1)

135.28%

105.58%

68.58%

68.06%

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

-11.93%

-63.65%

11.81%

10.51%

7.42%

58.61%

36.80%

37.14%

41.44%

68.55%

5.Management expenses (E1/E)

8.57

10.00

10.00

10.00

10.00

-1.19

-4.46

0.96

0.96

0.71

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

2.51%

3.78%

28.74%

13.24%

1.98%

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

3.15%

3.31%

5.65%

5.88%

2.94%

86.07%

142.68%

122.41%

109.77%

104.81%

0.29

5.96

2.16

-1.19

-1.44

6.Net assets value per share (A1/G1)


7.Earning per share (F/G1)

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

112

Financial Statement Analysis of Financial Sector

First Dawood Mutual Fund


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

752,467

520,984

484,679

549,713

495,748

580,750

580,750

580,750

580,750

580,750

171,717

(59,766)

(96,071)

(31,037)

(85,002)

6,590

4,115

2,675

4,194

7,306

1,830

1,289

768,377

935

934

4,760

2,826

(765,702)

3,259

6,372

C.Total assets (C1 to C3)

759,057

525,099

487,354

553,907

503,054

1.Cash & bank balances

35,295

25,610

57,811

26,310

16,807

709,017

473,076

413,327

515,057

476,041

14,745

26,413

16,216

12,540

10,206

2.Others

2.Investments
3.Others

D.Profit & loss account


67,386

(198,915)

(17,159)

80,291

(19,252)

a.Markup/interest income

19,903

39,950

35,148

31,016

45,881

b.Dividend income

12,421

11,167

11,924

9,222

7,895

c.Income from future transactions

d.Net gain on sale of investments

10,144

(4,144)

(59,275)

(74,375)

44,197

(13,753)

1.Income (a to g)

e.Net unrealized gain/(loss) on investment

(105,574)

(122,098)

130,808

(127,934)

9,828

31,839

20,953

19,147

15,257

15,548

24,113

17,389

13,613

10,753

10,348

2.Remuneration to trustees/custodians

1,118

939

890

903

888

3.Brokerage-commission /fee

4,940

1,415

3,198

788

1,231

4.Administrative and general expenses

1,668

1,210

1,446

2,813

3,081

f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor

5.Other

35,547

(219,868)

(36,306)

65,034

(34,800)

1.No. of units (000)

58,075

58,075

58,075

58,075

58,075

2.Cash dividend

0.00%

0.00%

0.00%

3.30%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

9,435

(9,684)

32,200

(31,501)

(9,503)

52.03%

125.70%

374.33%

49.88%

379.33%

0.00%

0.00%

0.00%

0.00%

0.00%

F.Net income for the year (D1-E)


G.Other items

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

52.75%

110.53%

211.59%

81.00%

180.76%

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

4.68%

-41.87%

-7.45%

11.74%

-6.92%

5.Management expenses (E1/E)

75.73%

71.10%

70.48%

66.56%

3.Return on revenue (ROR) (F/D1)

82.99%

10.00

10.00

10.00

10.00

10.00

0.61

-3.79

-0.63

1.12

-0.60

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

4.65%

4.88%

11.86%

4.75%

3.34%

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

0.87%

0.78%

0.55%

0.76%

1.45%

76.51%

110.60%

119.16%

104.85%

115.44%

0.27

0.04

-0.89

-0.48

0.27

6.Net assets value per share (A1/G1)


7.Earning per share (F/G1)

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

113

Financial Statement Analysis of Financial Sector

Golden Arrow Selected Stocks Fund Ltd.


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor
2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,237,941

831,434

968,463

767,225

763,012

675,993

760,492

760,492

760,492

760,492

21,499

9,751

6,175

6,733

2,520

540,449

61,191

201,796

195,843

371,934

34,883

13,663

13,611

49,883

25,117

2,086

1,575

2,095

2,161

1,824

32,797

12,088

11,516

47,722

23,293

1,272,824

845,097

982,074

1,012,951

1,160,063

56,208

280,115

9,898

10,047

14,569

1,203,832

545,849

968,766

936,117

1,136,933

12,784

19,133

3,410

66,787

8,561

323,130

D.Profit & loss account


70,037

(374,128)

179,751

150,680

a.Markup/interest income

14,242

29,419

25,792

8,422

4,682

b.Dividend income

48,723

39,639

43,545

48,649

54,725

c.Income from future transactions

d.Net gain on sale of investments

1.Income (a to g)

e.Net unrealized gain/(loss) on investment

112,428

(238,469)

(64,499)

(10,459)

93,989

(105,356)

(207,810)

174,913

102,727

169,734

3,093

1,341

34,846

20,631

39,146

27,349

32,965

25,768

16,560

20,095

19,661

18,157

812

465

705

590

632

3.Brokerage-commission /fee

6,206

1,753

5,491

598

812

4.Administrative and general expenses

2,060

1,853

12,855

6,500

13,364

f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

5.Other

35,191

(394,759)

140,605

123,331

290,165

122,907

152,098

152,098

152,098

152,098

2.Cash dividend

0.00%

0.00%

0.00%

15.00%

24.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

54,851

234,138

(280,172)

127,864

117,039

10.10%

118.46%

61.43%

62.12%

81.62%

0.00%

0.00%

0.00%

0.00%

0.00%

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

50.25%

105.51%

78.22%

81.85%

89.80%

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

2.76%

-46.71%

14.32%

12.18%

25.01%

5.Management expenses (E1/E)

73.95%

80.27%

51.33%

71.89%

55.08%

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)

5.50

5.00

5.00

5.00

5.00

7.Earning per share (F/G1)

0.29

-2.60

0.92

0.81

1.91

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

4.42%

33.15%

1.01%

0.99%

1.26%

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

2.74%

1.62%

1.39%

4.92%

2.17%

53.11%

89.99%

77.44%

75.08%

65.56%

1.56

-0.59

-1.99

1.04

0.40

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

114

Financial Statement Analysis of Financial Sector

JS Growth Fund
Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor
2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

5,174,398

2,892,841

2,760,140

3,180,705

3,392,424

3,180,044

3,180,044

3,180,044

3,180,044

3,180,045

506,438

506,438

506,438

506,438

506,437

1,487,916

(793,641)

(926,342)

(505,777)

(294,058)

87,827

(469)

135,436

(145,936)

(156,869)

118,896

62,417

62,544

67,011

74,889

9,510

5,304

968

714

5,888

109,386

57,113

61,576

66,297

69,001

5,381,121

2,954,789

2,958,120

3,101,780

3,310,444

336,439

704,134

738,045

82,152

844,843

5,006,067

2,224,507

2,188,255

2,863,246

2,351,324

38,615

26,148

31,820

156,382

114,277

582,862

D.Profit & loss account


(269,699)

1.Income (a to g)
a.Markup/interest income
b.Dividend income

(1,603,098)

171,614

733,167

50,525

78,858

71,973

44,701

47,120

195,864

155,186

117,566

184,340

216,929

c.Income from future transactions

d.Net gain on sale of investments

(18,642)

(840,680)

134,223

423,338

179,599

(497,446)

(996,879)

(153,887)

80,788

139,214

e.Net unrealized gain/(loss) on investment

f.Capital gain

g.Other income

417

1,739

149,884

678,459

148,063

98,287

88,875

116,534

62,198

66,425

61,817

57,693

4,259

2,722

2,849

2,711

2,583

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

5,827

2,954

3,155

2,936

2,712

18,160

608,230

73,243

26,875

22,402

5,104

2,355

2,391

3,948

3,485

(419,583)

(2,281,557)

23,551

634,880

493,987

318,004

318,004

315,696

318,004

318,005

2.Cash dividend

0.00%

0.00%

11.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

(646,759)

413,864

205,891

(305,737)

1,044,355

191.36%

114.60%

-10.44%

68.76%

54.70%

0.00%

0.00%

0.00%

0.00%

0.00%

3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

155.57%

142.32%

13.72%

86.59%

84.75%

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

-7.80%

-77.22%

0.80%

20.47%

14.92%

5.Management expenses (E1/E)

77.75%

9.17%

44.86%

62.89%

64.91%

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)

10.00

10.00

10.07

10.00

10.00

7.Earning per share (F/G1)

-1.32

-7.17

0.07

2.00

1.55

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

6.25%

23.83%

24.95%

2.65%

25.52%

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

2.21%

2.11%

2.11%

2.16%

2.26%

59.10%

107.62%

107.50%

102.52%

96.06%

1.54

-0.18

8.74

-0.48

2.11

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

115

Financial Statement Analysis of Financial Sector

JS Value Fund Ltd.


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss

1.Payable to investment advisor


2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

(Thousand Rupees)
2011
2012

2008

2009

2010

2,654,320

1,238,901

1,004,473

1,205,768

1,362,727

1,185,750

1,185,750

1,185,750

1,185,750

1,185,750

10,000

10,000

10,000

10,000

10,000

1,458,570

43,151

(191,277)

10,018

166,977

347

4.Others

B.Total liabilities (B1 + B2)

2012

23,106

17,763

(1,571)

16,885

20,343

20,854

4,152

1,985

102

221

2,259

18,954

15,778

16,783

20,122

18,595

2,677,773

1,255,093

1,021,358

1,226,111

1,383,581

758,217

288,313

79,565

67,159

303,541

1,908,853

959,730

934,113

1,148,780

1,057,723

10,703

7,050

7,680

10,172

22,317

D.Profit & loss account


922,276

(1,255,689)

(54,766)

308,390

217,796

a.Markup/interest income

81,403

54,303

25,588

12,556

18,279

b.Dividend income

28,134

43,563

46,188

64,609

85,068

1.Income (a to g)

c.Income from future transactions

d.Net gain on sale of investments

538,761

(673,017)

115,167

58,293

47,886

e.Net unrealized gain/(loss) on investment

273,978

(680,538)

(241,709)

172,932

66,563

f.Capital gain

g.Other income

64,271

41,154

61,087

47,809

37,121

50,943

31,125

24,801

23,312

24,309

3,525

2,534

2,218

2,143

2,207

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians
3.Brokerage-commission /fee

2,547

4.Administrative and general expenses

6,351

4,949

32,610

20,447

9,023

905

2,546

1,458

1,907

1,582

858,005

(1,296,843)

(115,853)

260,581

180,675

118,575

118,575

118,575

118,575

118,575

2.Cash dividend

0.00%

10.00%

10.00%

7.00%

10.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

333,551

(302,428)

(109,440)

44,966

261,008

88.12%

107.79%

231.06%

74.98%

52.55%

0.00%

0.00%

0.00%

0.00%

0.00%

5.Other

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)
3.Return on revenue (ROR) (F/D1)

93.03%

103.28%

211.54%

84.50%

82.96%

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

32.04%

-103.33%

-11.34%

21.25%

13.06%

5.Management expenses (E1/E)

79.26%

75.63%

40.60%

48.76%

65.49%

10.00

6.Net assets value per share (A1/G1)

10.00

10.00

10.00

-10.94

-0.98

2.20

1.52

28.32%

22.97%

7.79%

5.48%

21.94%

0.86%

1.42%

1.65%

1.66%

1.51%

44.28%

94.48%

116.10%

96.71%

85.70%

0.39

0.23

0.94

0.17

1.44

7.24

7.Earning per share (F/G1)

10.00

I.Liquidity ratios
1.Cash & cash equivalent to total assets (C1/C)
2.Total liabilities to total assets (B/C)

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

116

Financial Statement Analysis of Financial Sector

Meezan Balanced Fund


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss

1.Payable to investment advisor


2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

(Thousand Rupees)
2011
2012

2008

2009

2010

1,423,683

1,147,792

1,276,119

1,436,138

1,479,992

1,200,000

1,200,000

1,200,000

1,200,000

1,200,000

223,683

(52,208)

76,119

236,138

279,992

4.Others

B.Total liabilities (B1 + B2)

2012

1,592

87,294

55,051

11,451

18,013

(4,949)

24,105

18,316

24,963

6,851

4,488

2,112

2,507

2,920

4,600

13,525

21,993

15,809

22,043

1,435,134

1,160,856

1,301,816

1,541,748

1,560,006

10,462

144,241

292,188

42,186

72,888

1,398,691

992,205

985,810

1,465,941

1,470,386

25,981

24,410

23,818

33,621

16,732

D.Profit & loss account


70,836

(117,193)

289,304

254,036

292,934

a.Markup/interest income

67,825

64,797

72,337

89,560

88,093

b.Dividend income

38,248

46,319

60,298

56,620

54,712

1.Income (a to g)

c.Income from future transactions

(15,000)

d.Net gain on sale of investments

67,904

(129,163)

111,298

107,302

160,189

(88,141)

(99,146)

54,564

12,054

12,871

f.Capital gain

g.Other income

53,319
45,271

2.Remuneration to trustees/custodians

e.Net unrealized gain/(loss) on investment

(9,193)

(11,500)

(22,931)

38,698

40,977

28,017

39,080

32,550

31,114

28,069

29,108

1,688

1,356

1,504

1,596

1,641

3.Brokerage-commission /fee

3,169

2,670

826

4.Administrative and general expenses

3,191

2,122

7,533

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor

5.Other

220
(1,868)

350
7,981

17,517

(155,891)

248,327

226,019

253,854

120,000

120,000

120,000

120,000

120,000

2.Cash dividend

0.00%

0.00%

15.50%

19.00%

19.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(211,039)

249,207

260,050

(182,020)

235,863

1.Gain ratio (D1c to D1g)/D1

-49.74%

194.81%

54.15%

42.46%

51.25%

2.Trading income (D1c/D1)

-21.18%

0.00%

0.00%

0.00%

0.00%

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios

24.73%

133.02%

85.84%

88.97%

86.66%

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

1.22%

-13.43%

19.08%

14.66%

16.27%

5.Management expenses (E1/E)

84.91%

84.11%

75.93%

100.19%

74.48%

10.00

10.00

10.00

10.00

10.00

0.15

-1.30

2.07

1.88

2.12

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

0.73%

12.43%

22.44%

2.74%

4.67%

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

0.80%

1.55%

1.85%

1.19%

1.60%

83.62%

103.37%

92.18%

77.83%

76.92%

-1.60

1.05

-0.81

0.93

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)


7.Earning per share (F/G1)

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


-12.05

Cash generated from operating activities to net income (G4/F) (time)

117

Financial Statement Analysis of Financial Sector

NAMCO Balanced Fund


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves

4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

(Thousand Rupees)
2011
2012

2008

2009

2010

1,011,363

721,808

671,964

757,930

782,285

1,000,000

1,000,000

1,000,000

1,000,000

1,080,000

11,363

3.Unappropriated profit/loss

2012

(278,192)

(328,036)

(242,070)

(297,715)

7,438

6,197

8,277

8,536

17,350

8,661

15,383

10,870

8,978

9,750

3,595

2,904

3,735

1,544

7,600

5,066

12,479

7,135

7,434

1,036,151

730,469

693,544

777,077

799,799

33,924

24,985

126,688

171,524

70,560

2.Investments

837,373

625,517

557,838

597,937

545,032

3.Others

164,854

79,967

9,018

7,616

184,207

2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances

D.Profit & loss account


16,879

(261,998)

136,606

113,599

60,992

a.Markup/interest income

43,137

27,373

37,880

38,778

31,523

b.Dividend income

29,021

31,339

28,629

24,130

24,849

c.Income from future transactions

d.Net gain on sale of investments

70,164

(177,579)

(79,417)

(47,055)

(68,052)

1.Income (a to g)

(126,937)

e.Net unrealized gain/(loss) on investment


f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians
3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

(94,701)

149,514

114,162

88,266

1,494

(48,430)

(16,416)

(15,594)

42,086

27,558

36,450

27,632

36,637

32,617

22,832

24,423

22,689

21,548

1,235

810

773

635

639

127

270

7,910

3,025

5,776

3,470

12,964

324

891

5,478

711

1,216

(25,207)

(289,556)

100,156

85,967

24,355

100,000

100,000

100,000

100,000

108,000

2.Cash dividend

0.00%

0.00%

15.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

8.00%

2.10%

(122,371)

(41,409)

216,295

45,608

(100,964)

-327.50%

122.41%

51.31%

44.62%

7.57%

0.00%

0.00%

0.00%

0.00%

0.00%
39.93%

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

-149.34%

110.52%

73.32%

75.68%

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

-2.43%

-39.64%

14.44%

11.06%

3.05%

5.Management expenses (E1/E)

77.50%

82.85%

67.00%

82.11%

58.81%

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)

10.00

10.00

10.00

10.00

10.00

7.Earning per share (F/G1)

-0.25

-2.90

1.00

0.86

0.23

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

3.27%

3.42%

18.27%

22.07%

8.82%

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

1.67%

1.19%

2.22%

1.40%

1.12%

96.51%

136.90%

144.19%

128.69%

135.03%

4.85

0.14

2.16

0.53

-4.15

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

118

Financial Statement Analysis of Financial Sector

PICIC Energy Fund


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves

4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

(Thousand Rupees)
2011
2012

2008

2009

2010

1,070,563

859,159

925,613

1,059,643

992,787

1,000,000

1,000,000

1,000,000

1,000,000

1,000,000

(74,387)

59,643

70,563

3.Unappropriated profit/loss

2012

(140,841)

0
(7,213)

12,036

12,126

12,738

19,130

19,552

2,489

2,148

2,314

1,850

1,919

9,547

9,978

10,424

17,280

17,633

1,082,599

871,285

938,351

1,078,773

1,012,339

1.Cash & bank balances

128,035

48,431

37,179

77,090

12,943

2.Investments

939,203

811,465

897,764

994,036

847,714

15,361

11,389

3,408

7,647

151,682

113,973

2.Others

C.Total assets (C1 to C3)

3.Others

D.Profit & loss account


113,925

(111,597)

160,159

326,671

a.Markup/interest income

13,595

7,138

13,551

10,600

5,543

b.Dividend income

46,258

69,072

46,631

88,847

76,528

c.Income from future transactions

d.Net gain on sale of investments

182,949

(128,877)

(39,530)

(71,109)

20,660

3,529

(148,277)

1.Income (a to g)

e.Net unrealized gain/(loss) on investment


f.Capital gain

171,086

206,564

28,373

g.Other income

45,372

29,807

41,328

36,844

29,132

33,571

21,525

29,382

27,079

19,118

1,370

1,049

1,259

1,323

1,240

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

405

433

4.Administrative and general expenses

8,287

5,090

8,731

7,529

7,982

5.Other

2,144

2,143

1,956

508

359

68,553

(141,404)

118,831

289,827

84,841

100,000

100,000

100,000

100,000

100,000

2.Cash dividend

0.00%

0.00%

10.00%

25.00%

7.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(300,262)

(10,768)

37,740

188,598

84,975

47.46%

168.29%

62.42%

69.56%

27.99%

0.00%

0.00%

0.00%

0.00%

0.00%
74.44%

3.Brokerage-commission /fee

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

60.17%

126.71%

74.20%

88.72%

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

6.33%

-16.23%

12.66%

26.87%

8.38%

5.Management expenses (E1/E)

73.99%

72.21%

71.09%

73.50%

65.63%

10.00

10.00

10.00

10.00

10.00

0.69

-1.41

1.19

2.90

0.85

11.83%

5.56%

3.96%

7.15%

1.28%

1.11%

1.39%

1.36%

1.77%

1.93%

92.37%

114.77%

106.57%

92.70%

98.78%

-4.38

0.08

0.32

0.65

1.00

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)


7.Earning per share (F/G1)

I.Liquidity ratios
1.Cash & cash equivalent to total assets (C1/C)
2.Total liabilities to total assets (B/C)

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

119

Financial Statement Analysis of Financial Sector

PICIC Growth Fund

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

8,291,928

3,530,357

3,944,740

4,764,800

4,245,074

1.Certificate holders equity

2,835,000

2,835,000

2,835,000

2,835,000

2,835,000

2.Reserves

3,124,897

989,777

1,419,467

1,395,722

1,089,638

3.Unappropriated profit/loss

2,332,031

(294,420)

534,078

320,436

4.Others

2,992,500

2,990,500

2,992,500

2,992,500

2,992,500

109,291

103,569

196,762

184,318

346,537

18,807

10,871

11,562

12,929

13,993

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 + B2)


1.Payable to investment advisor
2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

(309,727)

90,484

92,698

185,200

171,389

332,544

11,393,719

6,624,426

7,134,002

7,941,618

7,584,111

867,546

296,840

246,157

453,731

276,495

10,461,354

6,281,453

6,802,156

7,367,007

7,059,493

64,819

46,133

85,689

120,880

248,123

732,127

D.Profit & loss account


(291,248)

(2,176,540)

769,108

1,420,959

68,340

53,639

101,587

65,146

37,401

465,982

442,192

244,075

460,178

415,801

c.Income from future transactions

d.Net gain on sale of investments

184,399

1.Income (a to g)
a.Markup/interest income
b.Dividend income

(1,009,969)

(673,200)

(480,082)

44,791

(53,416)

f.Capital gain

(2,013,978)

903,509

850,844

332,341

g.Other income

14,807

19

307,733

166,411

206,156

198,326

212,450

249,134

134,143

151,707

155,191

141,231

7,603

4,729

5,168

5,255

4,906

e.Net unrealized gain/(loss) on investment

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

45,795

23,209

44,978

33,501

61,838

5,201

4,330

4,303

4,379

4,475

(598,981)

(2,342,951)

562,952

1,222,633

519,677

283,500

283,500

283,500

283,500

283,500

2.Cash dividend

0.00%

0.00%

20.00%

38.00%

17.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

973,177

(281,691)

511,400

560,007

539,800

283.46%

122.78%

55.06%

63.03%

38.10%

0.00%

0.00%

0.00%

0.00%

0.00%
70.98%

3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

205.66%

107.65%

73.20%

86.04%

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

-5.26%

-35.37%

7.89%

15.40%

6.85%

5.Management expenses (E1/E)

80.96%

80.61%

73.59%

78.25%

66.48%

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)

10.00

10.00

10.00

10.00

10.00

7.Earning per share (F/G1)

-2.11

-8.26

1.99

4.31

1.83

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

7.61%

4.48%

3.45%

5.71%

3.65%

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

0.96%

1.56%

2.76%

2.32%

4.57%

24.88%

42.80%

39.74%

35.70%

37.38%

-1.62

0.12

0.91

0.46

1.04

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

120

Financial Statement Analysis of Financial Sector

PICIC Investment Fund


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor
2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

2,944,741

1,677,360

1,828,357

2,072,994

1,957,966

2,841,250

2,841,250

2,841,250

2,841,250

2,841,250

225

225

225

225

103,266

(1,164,115)

(1,013,118)

2,121,000

1,334,801

1,499,878

1,499,300

1,387,141

76,448

74,919

150,225

120,220

196,823

8,442

5,020

5,547

5,954

6,467

(768,481)

225
(883,509)

68,006

69,899

144,678

114,266

190,356

5,142,189

3,087,080

3,478,460

3,692,514

3,541,930

425,377

195,804

187,823

238,064

160,891

4,684,995

2,852,840

3,248,518

3,376,328

3,267,605

31,817

38,436

42,119

78,122

113,434

347,065

D.Profit & loss account


(107,405)

(1,187,175)

402,586

709,473

37,218

28,938

58,058

36,871

21,276

194,769

194,800

126,913

216,046

197,514

c.Income from future transactions

d.Net gain on sale of investments

179,034

1.Income (a to g)
a.Markup/interest income
b.Dividend income

(518,426)

e.Net unrealized gain/(loss) on investment

(401,392)

(269,243)

(389)

(28,080)

f.Capital gain

(1,017,195)

486,850

456,945

156,355

g.Other income

7,674

144,199

80,206

103,545

97,438

102,036

111,802

62,426

71,816

71,887

64,904

4,170

2,748

3,029

3,032

2,822

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

24,131

11,700

24,805

17,736

19,825

4,096

3,332

3,895

4,783

14,485

(251,604)

(1,267,381)

299,041

612,035

245,029

284,125

284,125

284,125

284,125

284,125

2.Cash dividend

0.00%

0.00%

10.00%

20.00%

8.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

628,795

(227,214)

133,363

401,816

274,992

315.99%

118.85%

54.05%

64.35%

36.96%

0.00%

0.00%

0.00%

0.00%

0.00%
70.60%

3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

234.26%

106.76%

74.28%

86.27%

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

-4.89%

-41.05%

8.60%

16.58%

6.92%

5.Management expenses (E1/E)

77.53%

77.83%

69.36%

73.78%

63.61%

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)

10.00

10.00

10.00

10.00

10.00

7.Earning per share (F/G1)

-0.89

-4.46

1.05

2.15

0.86

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

8.27%

6.34%

5.40%

6.45%

4.54%

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

1.49%

2.43%

4.32%

3.26%

5.56%

55.25%

92.04%

81.68%

76.95%

80.22%

-2.50

0.18

0.45

0.66

1.12

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

121

Financial Statement Analysis of Financial Sector

Pak Oman Advantage Fund


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,103,750

1,120,468

1,128,690

1,136,053

1,142,894

1,000,000

1,000,000

1,000,000

1,000,000

1,000,000

103,750

120,468

128,690

136,053

142,894

10,970

(36,810)

(16,272)

(11,255)

(1,222)

9,190

7,614

9,206

10,737

11,581

7,639

6,024

3,438

2,773

1,349

1,551

1,590

5,768

7,964

10,232

1,123,910

1,091,272

1,121,624

1,135,535

1,153,253

1.Cash & bank balances

254,595

25,386

317,413

347,618

368,179

2.Investments

833,058

1,019,328

778,421

760,974

754,189

36,257

46,558

25,790

26,943

30,885

120,221

126,464

131,176

131,632

130,683

115,526

153,722

142,207

144,911

140,933

b.Dividend income

c.Income from future transactions

d.Net gain on sale of investments

(13,140)

(9,329)

(17,329)

(659)

e.Net unrealized gain/(loss) on investment

1,952

(14,262)

(1,702)

4,050

1,432

f.Capital gain

2,415

328

144

(11,023)

18,273

19,746

26,904

20,499

22,112

13,464

13,342

13,478

13,386

16,046

1,230

1,328

1,338

1,332

1,361

2.Others

C.Total assets (C1 to C3)

3.Others

D.Profit & loss account


1.Income (a to g)
a.Markup/interest income

g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

191

108

210

277

394

3,353

4,759

7,531

3,265

2,039

35

209

4,347

2,239

2,272

101,948

106,718

104,272

111,133

108,571

1.No. of units (000)

10,000

100,000

100,000

100,000

100,000

2.Cash dividend

0.00%

9.61%

10.38%

10.17%

10.18%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

38,491

(114,209)

388,077

133,975

122,275

3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

F.Net income for the year (D1-E)


G.Other items

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1

3.91%

-21.55%

-8.41%

-10.09%

-7.84%

2.Trading income (D1c/D1)

0.00%

0.00%

0.00%

0.00%

0.00%
83.08%

84.80%

84.39%

79.49%

84.43%

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

9.07%

9.78%

9.30%

9.79%

9.41%

5.Management expenses (E1/E)

73.68%

67.57%

50.10%

65.30%

72.57%

6.Net assets value per share (A1/G1)

100.00

10.00

10.00

10.00

10.00

10.19

1.07

1.04

1.11

1.09

22.65%

2.33%

28.30%

30.61%

31.93%

0.82%

0.70%

0.82%

0.95%

1.00%

88.98%

91.64%

89.16%

88.06%

86.71%

0.38

-1.07

3.72

1.21

1.13

3.Return on revenue (ROR) (F/D1)

7.Earning per share (F/G1)

I.Liquidity ratios
1.Cash & cash equivalent to total assets (C1/C)
2.Total liabilities to total assets (B/C)

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

122

Financial Statement Analysis of Financial Sector

Safeway Mutual Fund Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

884,832

533,528

682,498

661,979

768,168

1.Certificate holders equity

544,500

544,500

544,500

544,500

544,500

2.Reserves

105,678

(6,435)

33,000

33,000

33,000

3.Unappropriated profit/loss

234,654

(4,537)

104,998

84,479

190,668

Items
A.Total equity (A1 to A3)

4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor

7,687

1,934

2,252

2,338

2,737

1,706

915

1,129

1,118

1,464

5,981

1,019

1,123

1,220

1,273

C.Total assets (C1 to C3)

892,519

535,462

684,750

664,317

770,905

1.Cash & bank balances

13,066

1,381

100,373

995

60,637

846,114

529,901

579,764

658,398

704,901

33,339

4,180

4,613

4,924

5,367

6,554

(170,271)

130,886

95,835

185,529

1,427

1,731

389

12,249

3,165

31,549

24,816

18,558

27,177

38,518

2.Others

2.Investments
3.Others

D.Profit & loss account


1.Income (a to g)
a.Markup/interest income
b.Dividend income
c.Income from future transactions

3,566

d.Net gain on sale of investments

110,830

(112,820)

148,272

45,539

29,010

(144,856)

(89,352)

(47,083)

10,845

114,836

e.Net unrealized gain/(loss) on investment

7,604

1,788

10,750

25

28,754

55,308

21,351

17,255

18,356

20,933

11,812

14,119

13,800

14,893

2.Remuneration to trustees/custodians

1,471

804

687

613

651

3.Brokerage-commission /fee

1,254

573

671

656

359

4.Administrative and general expenses

5,044

41,950

5,864

2,186

2,453

52

169

10

f.Capital gain
g.Other income

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor

5.Other

(22,200)

(225,579)

109,535

78,580

167,173

1.No. of units (000)

54,450

54,450

54,450

54,450

54,450

2.Cash dividend

0.00%

0.00%

18.20%

10.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

(85,812)

(9,069)

98,992

(99,378)

59,642

-403.14%

115.59%

85.52%

58.86%

77.53%

0.00%

-2.09%

0.00%

0.00%

0.00%

F.Net income for the year (D1-E)


G.Other items

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)

-338.72%

132.48%

83.69%

82.00%

90.11%

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

-2.49%

-42.13%

16.00%

11.83%

21.69%

5.Management expenses (E1/E)

72.80%

21.36%

66.13%

79.98%

81.13%

3.Return on revenue (ROR) (F/D1)

6.Net assets value per share (A1/G1)

10.00

10.00

10.00

10.00

10.00

7.Earning per share (F/G1)

-0.41

-4.14

2.01

1.44

3.07

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

1.46%

0.26%

14.66%

0.15%

7.87%

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

0.86%

0.36%

0.33%

0.35%

0.36%

61.01%

101.69%

79.52%

81.96%

70.63%

3.87

0.04

0.90

-1.26

0.36

I.Liquidity ratios

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

123

Financial Statement Analysis of Financial Sector

Tri-Star Mutual Fund Ltd.


Items
A.Total equity (A1 to A3)
1.Certificate holders equity
2.Reserves
3.Unappropriated profit/loss
4.Others

B.Total liabilities (B1 + B2)


1.Payable to investment advisor
2.Others

C.Total assets (C1 to C3)


1.Cash & bank balances
2.Investments
3.Others

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

36,231

20,921

24,006

26,659

25,990

50,000

50,000

50,000

50,000

50,000

(13,769)

(29,079)

(25,994)

(23,341)

(24,010)

2,645

1,166

2,658

3,188

3,398

4,081

4,816

1,529

2,049

2,047

2,551

3,389

1,129

1,139

1,351

1,530

1,427

41,534

25,275

27,404

30,740

30,806

39

38

41,306

24,967

26,734

30,100

30,169

189

301

632

633

632

90

D.Profit & loss account


(8,315)

(14,613)

3,808

3,414

20

119

375

48

21

c.Income from future transactions

d.Net gain on sale of investments

(14,732)

1.Income (a to g)
a.Markup/interest income
b.Dividend income

(8,335)

e.Net unrealized gain/(loss) on investment


f.Capital gain

3,433

3,366

69

g.Other income

1,119

696

724

766

759

868

502

503

532

521

30

30

30

30

E.Total expense (E1 to E5)


1.Remuneration to management co-advisor
2.Remuneration to trustees/custodians

35

45

50

251

163

156

159

158

(9,434)

(15,309)

3,084

2,648

(669)

5,000

5,000

5,000

5,000

5,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

832

530

214

(761)

(759)

100.24%

100.81%

90.15%

98.59%

76.67%

0.00%

0.00%

0.00%

0.00%

0.00%

3.Brokerage-commission /fee
4.Administrative and general expenses
5.Other

F.Net income for the year (D1-E)


G.Other items
1.No. of units (000)

4.Cash generated from operating activities

H.Efficiency ratios/profitability ratios


1.Gain ratio (D1c to D1g)/D1
2.Trading income (D1c/D1)
3.Return on revenue (ROR) (F/D1)

113.46%

104.76%

80.99%

77.56%

-743.33%

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

-22.71%

-60.57%

11.25%

8.61%

-2.17%

72.13%

69.48%

69.45%

68.64%

77.57%

5.Management expenses (E1/E)


6.Net assets value per share (A1/G1)

10.00

10.00

10.00

10.00

10.00

7.Earning per share (F/G1)

-1.89

-3.06

0.62

0.53

-0.13

I.Liquidity ratios
1.Cash & cash equivalent to total assets (C1/C)

0.09%

0.03%

0.14%

0.02%

0.02%

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

6.40%

12.61%

12.40%

13.28%

15.63%

120.38%

197.82%

182.46%

162.65%

162.31%

-0.09

-0.03

0.07

-0.29

1.13

J.Capital /leverage ratios


Shareholders equity to total assets (A1/C)

K.Cash flow ratio


Cash generated from operating activities to net income (G4/F) (time)

124

Financial Statement Analysis of Financial Sector

2012

MODARABA COMPANIES
PERFORMANCE AT A GLANCE
Modaraba Companies performed well during FY12. Total assets increased from Rs. 26.4 billion in
FY11 to Rs 29.5 billion in FY12 showing an increase of 12.1 percent. Total equity witnessed an
increase of 4.0 percent in FY12 over FY11. Profit before and after taxation increased by 16.3 percent
& 16.2 percent respectively in FY12 over FY11.

ANALYSIS OF BALANCE SHEET COMPONENTS


All major components of the balance sheet, i.e.,
assets, liabilities, and certificate holders equity

Components of Balance Sheets

witnessed increase in FY12 over FY11. Total

35.0

Billion Rs.

30.0

equity increased from Rs 12.3 billion in FY11


to Rs 12.8 billion in FY12 showing an increase

15.5%

25.0
20.0
15.0

of 4.0 percent. Total assets Rs at 29.5 billion in

10.0

FY12 increased from Rs. 26.4 billion in FY11,

0.0

4.0%

5.0

showing an increase of 12.1 percent in FY12.


Reserves increased by 8.1 percent during

Total
Equity

Total
Liabilities

Total
Assets

FY 11

12.3

13.9

26.4

FY 12

12.8

16.1

29.5

Growth

4.0%

15.5%

12.1%

18.0%
16.0%
14.0%
12.1% 12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%

FY12. In absolute terms, reserves increased


from Rs. 4.8 billion in FY11 to Rs. 5.1 billion in FY12. Certificate capital increased by 1.7 percent in
FY12 over FY11. Long-term investments increased from Rs 2.3 billion in FY11 to Rs. 2.7 billion in
the current year.

PROFITABILITY AND O PERATING EFFICIENCY


Gross revenue increased from Rs 5.9 billion in
FY11 to Rs 6.8 billion in FY12 recording an

Operating Profit

increase of 14.7 percent over FY11. On the


by 29.7 percent in FY12 over FY11. Operating
profit increased from Rs 4.6 billion to Rs 5.1
billion in FY12, reflecting an increase of 10.5
percent over FY11. Profit before taxation

Gross Revenue

15
Billion Rs.

other hand, operating expenses also increased

Operating Expenses

10

4.6
1.3

5
0

5.1
1.7

5.9

6.8

FY 11

FY 12

increased to Rs 1.3 billion in FY12 as compared to Rs 1.2 billion in FY11, recording an increase of

125

Financial Statement Analysis of Financial Sector

2012

16.3 percent in FY12 over FY11. Similarly, profit after taxation also increased from Rs 1.1 billion in
FY11 to Rs 1.3 billion in FY12 registering an increase of 16.2 percent.
Return on assets (ROA), return on equity (ROE)

FY 12

and return on capital employed (ROCE)


witnessed increases in FY12 over FY11. ROA
increased from 4.28 percent in FY11 to 4.43
percent in FY12. ROE increased from 9.16
percent to 10.23 percent in FY12. Similarly,
(ROCE) also increased from 7.20 percent in
FY11 to 7.93 percent in FY12. Breakup value

FY 11

4.43%

ROA

4.28%

7.93%

ROCE

7.20%

10.23%

ROE

0%

9.16%

2%

4%

6%

8%

per certificate increased from Rs 12.62 per certificate to Rs. 12.93 per certificate in FY12.

126

10%

12%

Financial Statement Analysis of Financial Sector

Modaraba Companies - Overall

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

10,890,240

10,884,303

11,441,371

12,306,106

12,802,384

1.Certificate capital

7,422,645

8,439,418

8,439,418

8,746,249

8,896,249

2.Reserves

3,682,816

3,579,654

4,222,106

4,751,287

5,134,727

(1,134,769)

(1,220,153)

(1,191,430)

(1,228,592)

Items
A.Total equity (A1 to A3)

(215,221)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

498,561

(43,741)

47,715

113,519

642,613

17,278,012

12,268,904

13,003,729

13,939,985

16,104,496

10,139,280

7,935,406

9,445,512

10,295,595

12,584,957

2.Non-current liabilities

7,138,732

4,333,498

3,558,217

3,644,390

3,519,539

C.Total assets (C1+C2)

28,666,813

23,109,466

24,492,815

26,359,610

29,549,493

1.Current assets (a + b)

13,697,734

9,851,812

11,249,533

11,479,593

11,816,231

1,252,489

1,012,494

1,171,444

1,177,701

1,452,169

12,445,245

8,839,318

10,078,089

10,301,892

10,364,062

14,969,079

13,257,654

13,243,282

14,880,017

17,733,262

a.Fixed assets

7,829,977

7,126,461

9,303,864

11,175,447

13,359,854

b.Long-term investments

4,012,698

4,132,557

2,257,698

2,258,441

2,673,393

c.Other non-current assets

3,126,404

1,998,636

1,681,720

1,446,129

1,700,015

1.Gross revenue(loss)

5,849,848

7,018,434

5,307,416

5,938,195

6,812,461

2.Operating expenses

1,907,021

2,235,409

1,212,053

1,317,325

1,707,964

3.Operating profit

3,473,593

4,783,025

4,098,893

4,620,870

5,104,497

35,417

56,255

72,513

96,573

98,550

5.Profit/(loss) before taxation

870,025

1,176,272

799,640

1,156,633

1,344,595

6.Profit/(loss) after taxation

852,807

1,164,251

780,585

1,127,182

1,309,244

843,061

944,739

944,739

975,422

990,422

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

D.Profit & loss account

4.Modaraba co's management fees

E.Other items
1.No. of certificates (000)
2.Cash dividend

N/A

N/A

N/A

N/A

N/A

3.Stock dividend/bonus shares

N/A

N/A

N/A

N/A

N/A

(692,866)

4.Cash generated from operating activities

1,786,670

2,283,871

1,336,707

846,023

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

7.83%

10.70%

6.82%

9.16%

10.23%

2.Return on capital employed (ROCE) (D5/(C-B1))

4.70%

7.75%

5.31%

7.20%

7.93%

3.Return on assets (ROA) (D6/C)

2.97%

5.04%

3.19%

4.28%

4.43%

14.58%

16.59%

14.71%

18.98%

19.22%

223.62%

192.00%

155.27%

116.87%

130.45%

1.86%

2.52%

5.98%

7.33%

5.77%

1.01

1.23

0.83

1.16

1.32

1.Current assets to current liabilities (C1/B1) (times)

1.35

1.24

1.19

1.12

0.94

2.Total liabilities to total assets (B/C) (times)

0.60

0.53

0.53

0.53

0.55

14.00%

17.88%

9.22%

8.57%

9.05%

37.99%

47.10%

46.71%

46.69%

43.33%

12.92

11.52

12.11

12.62

12.93

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-0.81

1.53

2.93

1.19

0.65

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.07

0.23

0.24

0.13

0.07

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

127

Financial Statement Analysis of Financial Sector

First Al-Noor Modaraba


Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

313,462

296,968

308,442

328,213

329,985

210,000

210,000

210,000

210,000

210,000

2.Reserves

79,628

80,970

83,677

96,334

100,977

3.Unappropriated profit

23,834

5,998

14,765

21,879

19,008

(18,622)

(17,272)

(1,568)

(2,073)

(1,326)

34,996

21,844

23,995

23,293

25,638

27,556

13,418

17,674

17,560

17,730

1.Certificate capital

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

7,440

8,426

6,321

5,733

7,908

C.Total assets (C1+C2)

329,836

301,540

330,869

349,433

354,297

1.Current assets (a + b)

205,998

204,296

253,921

264,975

264,613

2.Non-current liabilities

9,568

24,483

11,400

10,284

15,728

196,430

179,813

242,521

254,691

248,885

123,838

97,244

76,948

84,458

89,684

a.Fixed assets

76,032

42,064

43,338

34,944

32,897

b.Long-term investments

43,966

29,295

18,598

20,767

20,021

3,840

25,885

15,012

28,747

36,766

1.Gross revenue(loss)

67,348

65,620

41,055

45,015

39,647

2.Operating expenses

9,413

11,722

13,925

19,473

17,186

57,935

53,898

49,968

25,542

22,461

3,589

508

3,405

2,168

5.Profit/(loss) before taxation

32,301

4,572

11,267

30,047

19,131

6.Profit/(loss) after taxation

31,991

4,205

11,035

29,892

18,219

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items
21,000

21,000

21,000

21,000

21,000

10.00%

0.00%

5.00%

8.00%

8.00%

0.00%

0.00%

0.00%

0.00%

0.00%

7,086

74,367

(9,158)

53,269

106,311

1.Return on equity (ROE) (D6/A)

10.21%

1.42%

3.58%

9.11%

5.52%

2.Return on capital employed (ROCE) (D5/(C-B1))

10.69%

1.59%

3.60%

9.05%

5.68%

9.70%

1.39%

3.34%

8.55%

5.14%

4.Return on revenue (D6/D1)

47.50%

6.41%

26.88%

66.40%

45.95%

5.Operating expenses to net income (D2/D6)

29.42%

278.76%

126.19%

65.14%

94.33%

6.Management expenses (D4/D2)

38.13%

4.33%

0.00%

17.49%

12.61%

1.52

0.20

0.53

1.42

0.87

1.Current assets to current liabilities (C1/B1) (times)

7.48

15.23

14.37

15.09

14.92

2.Total liabilities to total assets (B/C) (times)

0.11

0.07

0.07

0.07

0.07

13.33%

9.72%

5.62%

5.94%

5.65%

95.04%

98.48%

93.22%

93.93%

93.14%

14.93

14.14

14.69

15.63

15.71

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

0.22

17.69

-0.83

1.78

5.84

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.26

5.54

-0.52

3.03

6.00

1.No. of certificates (000)


2.Cash dividend
3.Stock dividend/bonus shares
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Return on assets (ROA) (D6/C)

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

128

Financial Statement Analysis of Financial Sector

Allied Rental Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

871,680

1,059,652

1,212,946

1,572,838

1.Certificate capital

600,000

600,000

600,000

750,000

2.Reserves

177,942

316,928

461,075

560,471

3.Unappropriated profit

93,738

142,724

151,871

262,367

4.Others

90,000

90,000

90,000

90,000

311,177

361,219

807,850

1,048,232

1.Current liabilities

203,400

316,634

658,070

644,908

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 + B2)


2.Non-current liabilities

107,777

44,585

149,780

403,324

C.Total assets (C1+C2)

1,272,857

1,510,871

2,110,796

2,711,070

1.Current assets (a + b)

182,703

204,600

228,460

352,993

a.Cash and banks balances

34,979

87,624

61,489

87,624

b.Other current assets

147,724

116,976

166,971

265,369

1,090,154

1,306,271

1,882,336

2,358,077

a.Fixed assets

980,382

1,219,700

1,799,334

2,189,223

b.Long-term investments

83,642

69,678

62,051

54,607

26,130

16,893

20,951

114,247

633,335

829,397

1,033,739

1,543,919

2.Operating expenses

383,415

491,197

654,912

948,701

3.Operating profit

249,920

338,200

378,827

595,218

4.Modaraba co's management fees

8,597

7,392

4,988

5.Profit/(loss) before taxation

176,141

277,973

288,294

498,792

6.Profit/(loss) after taxation

176,141

277,973

288,294

498,792

2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account


1.Gross revenue(loss)

E.Other items
1.No. of certificates (000)

60,000

60,000

60,000

75,000

2.Cash dividend

15.00%

22.50%

23.00%

30.00%

3.Stock dividend/bonus shares

0.00%

0.00%

25.00%

10.00%

4.Cash generated from operating activities

275,140

530,059

868,757

586,767

1.Return on equity (ROE) (D6/A)

20.21%

26.23%

23.77%

31.71%

2.Return on capital employed (ROCE) (D5/(C-B1))

16.47%

23.28%

19.85%

24.14%

3.Return on assets (ROA) (D6/C)

13.84%

18.40%

13.66%

18.40%

4.Return on revenue (D6/D1)

27.81%

33.52%

27.89%

32.31%

5.Operating expenses to net income (D2/D6)

217.68%

176.71%

227.17%

190.20%

6.Management expenses (D4/D2)

0.00%

1.75%

1.13%

0.53%

2.94

4.63

4.80

6.65

0.90

0.65

0.35

0.55

2.Total liabilities to total assets (B/C) (times)

0.24

0.24

0.38

0.39

3.Long term investment to total assets (C2b/C)

6.57%

4.61%

2.94%

2.01%

1.Capital ratio (A/C)

68.48%

70.14%

57.46%

58.02%

2.Break up value per certificate (A/E1)

14.53

17.66

20.22

20.97

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

1.56

1.91

3.01

1.18

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

1.35

1.67

1.32

0.91

F.Efficiency ratios/profitability ratios

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios
1.Current assets to current liabilities (C1/B1) (times)

H.Capital /leverage ratios

I.Cash flow ratio

129

Financial Statement Analysis of Financial Sector

B.F. Modaraba

2012

2008

2009

2010

(Thousand Rupees)
2011
2012

87,379

91,058

94,461

111,953

106,988

1.Certificate capital

63,553

68,320

68,320

75,152

75,152

2.Reserves

15,108

16,212

17,232

23,354

25,856

3.Unappropriated profit

8,718

6,526

8,909

13,447

5,980

4.Others

5,933

557

7,760

15,551

8,340

3,279

8,688

2,439

5,960

5,387

3,158

8,521

2,193

2,930

2,329

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 + B2)


1.Current liabilities

121

167

246

3,030

3,058

C.Total assets (C1+C2)

96,591

100,303

104,660

133,464

120,715

1.Current assets (a + b)

95,048

99,061

103,685

118,469

111,033

a.Cash and banks balances

25,109

15,491

8,008

17,645

11,958

b.Other current assets

69,939

83,570

95,677

100,824

99,075

1,543

1,242

975

14,995

9,682

a.Fixed assets

808

1,202

935

14,955

9,642

b.Long-term investments

735

40

40

40

40

1.Gross revenue(loss)

11,014

14,473

11,913

29,489

16,006

2.Operating expenses

1,845

2,201

2,523

2,955

3,532

3.Operating profit

9,169

12,272

9,390

26,534

12,474

847

811

624

2,263

731

5.Profit/(loss) before taxation

7,626

7,064

5,438

20,369

6,583

6.Profit/(loss) after taxation

6,846

3,679

3,403

17,491

6,307

2.Non-current liabilities

2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account

4.Modaraba co's management fees

E.Other items
6,355

6,832

6,832

7,515

7,515

2.Cash dividend

0.00%

0.00%

0.00%

15.00%

5.00%

3.Stock dividend/bonus shares

7.50%

0.00%

10.00%

0.00%

0.00%

4.Cash generated from operating activities

10,527

(1,307)

(13,710)

9,767

10,214

1.Return on equity (ROE) (D6/A)

7.83%

4.04%

3.60%

15.62%

5.90%

2.Return on capital employed (ROCE) (D5/(C-B1))

8.16%

7.70%

5.31%

15.60%

5.56%

3.Return on assets (ROA) (D6/C)

7.09%

3.67%

3.25%

13.11%

5.22%

4.Return on revenue (D6/D1)

62.16%

25.42%

28.57%

59.31%

39.40%

5.Operating expenses to net income (D2/D6)

26.95%

59.83%

74.14%

16.89%

56.00%

6.Management expenses (D4/D2)

45.91%

36.85%

24.73%

76.58%

20.70%

1.08

0.54

0.50

2.33

0.84

30.10

11.63

47.28

40.43

47.67

0.03

0.09

0.02

0.04

0.04

0.76%

0.04%

0.04%

0.03%

0.03%

90.46%

90.78%

90.26%

83.88%

88.63%

13.75

13.33

13.83

14.90

14.24

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

1.54

-0.36

-4.03

0.56

1.62

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

3.33

-0.15

-6.25

3.33

4.39

1.No. of certificates (000)

F.Efficiency ratios/profitability ratios

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios
1.Current assets to current liabilities (C1/B1) (times)
2.Total liabilities to total assets (B/C) (times)
3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

130

Financial Statement Analysis of Financial Sector

B.R.R. Guardian Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,396,251

823,262

662,028

703,731

713,402

1.Certificate capital

780,462

780,462

780,462

780,462

780,462

2.Reserves

539,522

544,522

544,522

565,374

523,824

76,267

(501,722)

(662,956)

(642,105)

(590,884)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit

437,033

(82,842)

(29,134)

28,952

59,403

2,682,433

2,266,700

3,010,180

2,234,116

2,270,746

1.Current liabilities

1,541,160

1,104,517

1,976,529

1,085,777

1,323,147

4.Others

B.Total liabilities (B1 + B2)


2.Non-current liabilities

1,141,273

1,162,183

1,033,651

1,148,339

947,599

C.Total assets (C1+C2)

4,515,717

3,007,120

3,643,074

2,966,799

3,043,551

1.Current assets (a + b)

2,296,937

1,032,099

1,750,439

1,180,460

1,209,138
231,630

9,881

66,288

105,242

121,699

2,287,056

965,811

1,645,197

1,058,761

977,508

2,218,780

1,975,021

1,892,635

1,786,339

1,834,413

a.Fixed assets

986,678

505,989

289,635

578,976

728,509

b.Long-term investments

166,024

163,297

593,777

529,731

432,200

1,066,078

1,305,735

1,009,223

677,632

673,704

1.Gross revenue(loss)

921,625

557,006

631,419

614,992

424,245

2.Operating expenses

98,877

99,113

102,281

109,303

109,743

822,748

457,893

508,827

505,689

314,502

16,852

4,728

3,369

5.Profit/(loss) before taxation

151,671

502,748

(161,234)

41,703

29,182

6.Profit/(loss) after taxation

151,671

502,748

(161,234)

41,703

29,182

1.No. of certificates (000)

78,046

78,046

78,046

78,046

78,046

2.Cash dividend

9.00%

0.00%

0.00%

2.50%

1.80%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

492,751

497,007

421,836

321,609

285,403

10.86%

61.07%

-24.35%

5.93%

4.09%

2.Return on capital employed (ROCE) (D5/(C-B1))

5.10%

26.42%

-9.67%

2.22%

1.70%

3.Return on assets (ROA) (D6/C)

3.36%

16.72%

-4.43%

1.41%

0.96%

4.Return on revenue (D6/D1)

16.46%

90.26%

-25.54%

6.78%

6.88%

5.Operating expenses to net income (D2/D6)

65.19%

19.71%

-63.44%

262.10%

376.06%

6.Management expenses (D4/D2)

17.04%

0.00%

0.00%

4.33%

3.07%

1.94

6.44

-2.07

0.53

0.37

1.Current assets to current liabilities (C1/B1) (times)

1.49

0.93

0.89

1.09

0.91

2.Total liabilities to total assets (B/C) (times)

0.59

0.75

0.83

0.75

0.75

3.68%

5.43%

16.30%

17.86%

14.20%

30.92%

27.38%

18.17%

23.72%

23.44%

17.89

10.55

8.48

9.02

9.14

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

3.25

0.99

-2.62

7.71

9.78

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.32

0.45

0.21

0.30

0.22

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

131

Financial Statement Analysis of Financial Sector

First Constellation Modaraba


Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

74,736

65,069

67,185

69,592

69,592
64,625

64,625

64,625

64,625

64,625

2.Reserves

5,927

5,928

6,350

6,832

6,832

3.Unappropriated profit

4,184

(5,484)

(3,790)

(1,865)

(1,865)

1.Certificate capital

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

6,573

6,277

7,254

4,386

4,386

6,573

6,277

6,939

4,063

4,063

315

323

323

C.Total assets (C1+C2)

81,309

71,346

74,439

73,978

73,978

1.Current assets (a + b)

24,595

38,238

41,255

40,881

40,881

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

21

86

240

1,084

1,084

24,574

38,152

41,015

39,797

39,797

56,714

33,108

33,184

33,097

33,097

714

108

70

39

39

b.Long-term investments

23,000

33,000

33,000

33,000

33,000

c.Other non-current assets

33,000

114

58

58

1.Gross revenue(loss)

4,357

3,854

6,457

7,271

7,271

2.Operating expenses

332

4,227

4,903

5,874

5,874

4,025

(373)

1,554

1,397

1,397

30

222

247

247

a.Fixed assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees
5.Profit/(loss) before taxation

301

(4,987)

2,223

2,471

2,471

6.Profit/(loss) after taxation

301

(4,987)

2,117

2,405

2,405

E.Other items
6,462

6,462

6,462

6,462

6,462

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(17,078)

7,897

162

1,929

1,929

1.Return on equity (ROE) (D6/A)

0.40%

-7.66%

3.15%

3.46%

3.46%

2.Return on capital employed (ROCE) (D5/(C-B1))

0.40%

-7.66%

3.29%

3.53%

3.53%

3.Return on assets (ROA) (D6/C)

0.37%

-6.99%

2.84%

3.25%

3.25%

4.Return on revenue (D6/D1)

6.91%

-129.40%

32.79%

33.08%

33.08%

110.30%

-84.76%

231.60%

244.24%

244.24%

9.04%

0.00%

4.53%

4.20%

4.20%

0.05

-0.77

0.33

0.37

0.37

1.Current assets to current liabilities (C1/B1) (times)

3.74

6.09

5.95

10.06

10.06

2.Total liabilities to total assets (B/C) (times)

0.08

0.09

0.10

0.06

0.06

28.29%

46.25%

44.33%

44.61%

44.61%

91.92%

91.20%

90.26%

94.07%

94.07%

11.57

10.07

10.40

10.77

10.77

-56.74

-1.58

0.08

0.80

0.80

-2.60

1.26

0.02

0.47

0.47

1.No. of certificates (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

5.Operating expenses to net income (D2/D6)


6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

132

Financial Statement Analysis of Financial Sector

Crescent Standard Modaraba


Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit

1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

109,140

110,902

115,926

118,552

122,143

200,000

200,000

200,000

200,000

200,000

4,557

5,438

7,950

10,463

13,363

(95,417)

(94,536)

(92,024)

(91,911)

(91,220)

(1,311)

4.Others

B.Total liabilities (B1 + B2)

2012

(630)

(896)

23,108

23,179

44,101

30,688

(1,001)

35,759

18

23,108

23,179

43,951

24,510

26,032

150

6,178

9,727

C.Total assets (C1+C2)

130,937

133,451

159,131

148,239

157,920

1.Current assets (a + b)

130,619

133,451

134,649

96,730

101,137

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

16,088

16,490

20,812

20,645

34,244

114,531

116,961

113,837

76,085

66,893

318

24,482

51,509

56,783

318

2,285

25,864

35,096

b.Long-term investments

22,197

25,645

21,687

c.Other non-current assets

1.Gross revenue(loss)

1,417

4,218

13,528

23,983

16,842

2.Operating expenses

1,822

1,919

5,983

5,242

5,620

(405)

2,299

9,085

18,741

11,222

60

196

558

570

692

5.Profit/(loss) before taxation

538

1,762

5,024

5,026

5,991

6.Profit/(loss) after taxation

538

1,762

5,024

5,026

5,991

1.No. of certificates (000)

20,000

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

1.20%

1.20%

1.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

42,512

32,502

19,282

6,683

27,467

1.Return on equity (ROE) (D6/A)

0.49%

1.59%

4.33%

4.24%

4.90%

2.Return on capital employed (ROCE) (D5/(C-B1))

0.50%

1.60%

4.36%

4.06%

4.54%

3.Return on assets (ROA) (D6/C)

0.41%

1.32%

3.16%

3.39%

3.79%

37.97%

41.77%

37.14%

20.96%

35.57%

338.66%

108.91%

119.09%

104.30%

93.81%

3.29%

10.21%

9.33%

10.87%

12.31%

0.03

0.09

0.25

0.25

0.30

1.Current assets to current liabilities (C1/B1) (times)

5.65

5.76

3.06

3.95

3.89

2.Total liabilities to total assets (B/C) (times)

0.18

0.17

0.28

0.21

0.23

0.00%

0.00%

13.95%

17.30%

13.73%

83.35%

83.10%

72.85%

79.97%

77.34%

5.46

5.55

5.80

5.93

6.11

79.02

18.45

3.84

1.33

4.58

1.84

1.40

0.44

0.27

1.06

a.Fixed assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

133

Financial Statement Analysis of Financial Sector

First Elite Capital Modaraba


Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

118,182

112,550

117,680

124,042

128,065

113,400

113,400

113,400

113,400

113,400

4,782

(850)

4,280

10,642

14,665

25,553

32,568

37,344

44,098

58,747

12,717

14,290

15,150

9,358

15,501

2.Non-current liabilities

12,836

18,278

22,194

34,740

43,246

C.Total assets (C1+C2)

143,735

145,118

155,024

168,140

186,812

1.Current assets (a + b)

67,337

47,099

49,915

59,789

55,774

a.Cash and banks balances

13,961

10,439

6,480

16,825

13,630

b.Other current assets

53,376

36,660

43,435

42,964

42,144

76,398

98,019

105,109

108,351

131,038

2.Non-current assets (a + b + c)

1,791

1,620

1,758

2,969

2,495

b.Long-term investments

25,371

21,057

20,679

12,274

10,419

c.Other non-current assets

49,236

75,342

82,672

93,108

118,124

1.Gross revenue(loss)

35,809

41,064

48,178

53,703

59,346

2.Operating expenses

10,065

11,123

12,864

15,048

16,829

3.Operating profit

a.Fixed assets

D.Profit & loss account

25,744

29,941

35,314

38,655

42,517

4.Modaraba co's management fees

1,095

766

813

979

1,003

5.Profit/(loss) before taxation

9,854

6,893

7,320

8,812

9,023

6.Profit/(loss) after taxation

9,854

6,893

7,320

8,812

9,023

1.No. of certificates (000)

11,340

11,340

11,340

11,340

11,340

2.Cash dividend

6.00%

4.50%

5.00%

5.50%

5.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

5,755

1,332

(6,079)

9,187

(3,142)

1.Return on equity (ROE) (D6/A)

8.34%

6.12%

6.22%

7.10%

7.05%

2.Return on capital employed (ROCE) (D5/(C-B1))

7.52%

5.27%

5.23%

5.55%

5.27%

3.Return on assets (ROA) (D6/C)

6.86%

4.75%

4.72%

5.24%

4.83%

27.52%

16.79%

15.19%

16.41%

15.20%

102.14%

161.37%

175.74%

170.77%

186.51%

10.88%

6.89%

6.32%

6.51%

5.96%

0.87

0.61

0.65

0.78

0.80

1.Current assets to current liabilities (C1/B1) (times)

5.30

3.30

3.29

6.39

3.60

2.Total liabilities to total assets (B/C) (times)

0.18

0.22

0.24

0.26

0.31

17.65%

14.51%

13.34%

7.30%

5.58%

82.22%

77.56%

75.91%

73.77%

68.55%

10.42

9.93

10.38

10.94

11.29

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

0.58

0.19

-0.83

1.04

-0.35

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.45

0.09

-0.40

0.98

-0.20

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

134

Financial Statement Analysis of Financial Sector

First Equity Modaraba


Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

574,163

544,464

547,821

562,818

563,086

524,400

524,400

524,400

524,400

524,400

75,543

75,689

74,975

75,156

81,834

(25,780)

(55,625)

(51,554)

(36,738)

(43,148)

64,951

46,040

39,126

50,839

40,472

63,842

45,035

37,729

49,232

38,640

1,109

1,005

1,397

1,607

1,832

C.Total assets (C1+C2)

639,114

590,504

586,947

613,657

603,558

1.Current assets (a + b)

248,798

232,708

232,002

257,776

247,616

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

52,857

10,757

20,183

57,258

33,785

195,941

221,951

211,819

200,518

213,831

390,316

357,796

354,945

355,881

355,942

16,964

15,189

19,051

18,580

19,132

309,231

278,917

278,133

280,390

280,099

64,121

63,690

57,761

56,911

56,711

1.Gross revenue(loss)

26,155

22,801

25,877

17,888

29,668

2.Operating expenses

20,966

20,946

23,136

16,551

17,283

5,189

1,855

2,741

1,337

12,385

5.Profit/(loss) before taxation

7,566

346

(591)

240

8,905

6.Profit/(loss) after taxation

7,367

146

(714)

180

6,678

1.No. of certificates (000)

52,440

52,440

52,440

52,440

52,440

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(30,463)

(30,679)

13,607

17,511

5,204

1.Return on equity (ROE) (D6/A)

1.28%

0.03%

-0.13%

0.03%

1.19%

2.Return on capital employed (ROCE) (D5/(C-B1))

1.32%

0.06%

-0.11%

0.04%

1.58%

3.Return on assets (ROA) (D6/C)

1.15%

0.02%

-0.12%

0.03%

1.11%

28.17%

0.64%

-2.76%

1.01%

22.51%

284.59%

14,346.58%

-3,240.34%

9,195.00%

258.81%

0.00%

0.00%

0.00%

0.00%

0.00%

0.14

0.00

-0.01

0.00

0.13

1.Current assets to current liabilities (C1/B1) (times)

3.90

5.17

6.15

5.24

6.41

2.Total liabilities to total assets (B/C) (times)

0.10

0.08

0.07

0.08

0.07

48.38%

47.23%

47.39%

45.69%

46.41%

89.84%

92.20%

93.33%

91.72%

93.29%

10.95

10.38

10.45

10.73

10.74

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-4.14

-210.13

-19.06

97.28

0.78

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.48

-0.68

0.36

0.36

0.13

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

135

Financial Statement Analysis of Financial Sector

First Fidelity Leasing Modaraba


Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

351,545

326,707

325,202

335,186

352,807

264,138

264,138

264,138

264,138

264,138

2.Reserves

58,064

61,914

72,258

75,297

79,343

3.Unappropriated profit

29,343

655

(11,194)

(4,249)

1.Certificate capital

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

9,326

142,696

131,052

107,665

40,043

68,132

60,781

69,246

86,547

30,428

60,206

2.Non-current liabilities

81,915

61,806

21,118

9,615

7,926

C.Total assets (C1+C2)

494,241

457,759

432,867

375,229

420,939

1.Current assets (a + b)

155,691

105,432

199,227

136,244

149,923

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

34,160

5,469

13,405

16,490

11,724

121,531

99,963

185,822

119,754

138,199

338,550

352,327

233,640

238,985

271,016
231,348

181,426

105,765

75,272

29,776

b.Long-term investments

57,195

59,881

4,574

106,403

c.Other non-current assets

99,929

186,681

153,794

102,806

39,668

1.Gross revenue(loss)

118,948

71,449

55,884

71,466

45,368

2.Operating expenses

24,960

21,077

18,438

20,746

17,933

3.Operating profit

93,988

50,372

37,446

50,720

27,435

4,631

984

2,018

a.Fixed assets

D.Profit & loss account

4.Modaraba co's management fees


5.Profit/(loss) before taxation

41,680

(2,580)

(11,530)

8,680

18,166

6.Profit/(loss) after taxation

41,680

(2,274)

(11,849)

8,680

16,970

E.Other items
26,413

26,413

26,413

26,413

26,413

10.00%

0.00%

0.00%

0.00%

5.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(8,589)

15,893

24,329

(45,926)

(7,849)

11.86%

-0.70%

-3.64%

2.59%

4.81%

2.Return on capital employed (ROCE) (D5/(C-B1))

9.62%

-0.66%

-3.33%

2.52%

5.04%

3.Return on assets (ROA) (D6/C)

8.43%

-0.50%

-2.74%

2.31%

4.03%

4.Return on revenue (D6/D1)

35.04%

-3.18%

-21.20%

12.15%

37.41%

5.Operating expenses to net income (D2/D6)

59.88%

-926.87%

-155.61%

239.01%

105.67%

6.Management expenses (D4/D2)

18.55%

0.00%

0.00%

4.74%

11.25%

1.58

-0.09

-0.45

0.33

0.64

1.Current assets to current liabilities (C1/B1) (times)

2.56

1.52

2.30

4.48

2.49

2.Total liabilities to total assets (B/C) (times)

0.29

0.29

0.25

0.11

0.16

11.57%

13.08%

1.06%

28.36%

0.00%

71.13%

71.37%

75.13%

89.33%

83.81%

13.31

12.37

12.31

12.69

13.36

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-0.21

-6.99

-2.05

-5.29

-0.46

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.14

0.23

0.28

-1.51

-0.13

1.No. of certificates (000)


2.Cash dividend

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

136

Financial Statement Analysis of Financial Sector

First Imrooz Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

92,442

102,508

112,178

116,951

119,500

1.Certificate capital

30,000

30,000

30,000

30,000

30,000

2.Reserves

47,123

49,329

55,043

60,558

65,478

3.Unappropriated profit

15,319

23,179

27,135

26,393

24,022

Items
A.Total equity (A1 to A3)

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

115,434

83,809

112,811

199,437

228,508

110,573

76,989

104,671

190,541

217,317

4,861

6,820

8,140

8,896

11,191

C.Total assets (C1+C2)

207,876

186,317

224,989

316,388

348,008

1.Current assets (a + b)

201,130

180,878

216,965

310,020

341,734

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

57,750

48,054

6,888

17,555

28,404

143,380

132,824

210,077

292,465

313,330

6,746

5,439

8,024

6,368

6,274
6,090

6,746

5,248

7,535

6,034

b.Long-term investments

c.Other non-current assets

191

489

334

184

1.Gross revenue(loss)

51,205

58,779

78,068

92,555

98,804

2.Operating expenses

20,795

22,507

25,521

29,425

35,347

3.Operating profit

30,410

36,272

52,547

63,130

63,457

2,712

2,607

4,204

5,360

5,441

5.Profit/(loss) before taxation

31,185

29,982

48,341

54,192

55,018

6.Profit/(loss) after taxation

15,167

22,065

28,570

27,573

24,599

a.Fixed assets

D.Profit & loss account

4.Modaraba co's management fees

E.Other items
3,000

3,000

3,000

3,000

3,000

40.00%

63.00%

76.00%

73.50%

65.00%

0.00%

0.00%

0.00%

0.00%

0.00%

9,214

13,745

(40,221)

5,787

8,917

1.Return on equity (ROE) (D6/A)

16.41%

21.53%

25.47%

23.58%

20.58%

2.Return on capital employed (ROCE) (D5/(C-B1))

32.05%

27.42%

40.18%

43.06%

42.10%

7.30%

11.84%

12.70%

8.71%

7.07%

29.62%

37.54%

36.60%

29.79%

24.90%

137.11%

102.00%

89.33%

106.72%

143.69%

13.04%

11.58%

16.47%

18.22%

15.39%

5.06

7.36

9.52

9.19

8.20

1.Current assets to current liabilities (C1/B1) (times)

1.82

2.35

2.07

1.63

1.57

2.Total liabilities to total assets (B/C) (times)

0.56

0.45

0.50

0.63

0.66

0.00%

0.00%

0.00%

0.00%

0.00%

44.47%

55.02%

49.86%

36.96%

34.34%

30.81

34.17

37.39

38.98

39.83

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

0.61

0.62

-1.41

0.21

0.36

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.08

0.18

-0.38

0.03

0.04

1.No. of certificates (000)


2.Cash dividend
3.Stock dividend/bonus shares
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Return on assets (ROA) (D6/C)


4.Return on revenue (D6/D1)
5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

137

Financial Statement Analysis of Financial Sector

First Habib Bank Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

620,804

621,226

647,617

677,068

706,648

1.Certificate capital

397,072

397,072

397,072

397,072

397,072

2.Reserves

223,732

224,154

250,545

279,996

309,576

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities
2.Non-current liabilities

C.Total assets (C1+C2)


1.Current assets (a + b)

528,289

205,939

116,413

132,543

159,109

347,426

120,604

48,682

53,523

67,297

180,863

85,335

67,731

79,020

91,812

1,149,093

827,165

764,030

809,611

865,757

92,060

69,097

168,824

206,987

195,442

9,514

4,073

25,003

21,639

13,269

82,546

65,024

143,821

185,348

182,173

1,057,033

758,068

595,206

602,624

670,315

1,048,156

757,915

543,875

492,809

563,138

8,125

51,179

99,179

99,211

752

153

152

10,636

7,966

1.Gross revenue(loss)

494,439

497,327

405,588

312,872

267,106

2.Operating expenses

9,137

9,522

10,233

11,926

14,472

485,302

487,805

395,355

300,946

252,634

2,334

2,198

4,997

7,952

9,007

5.Profit/(loss) before taxation

21,012

19,779

44,976

71,567

81,066

6.Profit/(loss) after taxation

21,012

19,779

44,976

71,567

81,066

1.No. of certificates (000)

39,707

39,707

39,707

39,707

39,707

2.Cash dividend

5.00%

5.00%

11.00%

13.00%

14.75%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

41,654

334,985

287,475

77,317

74,645

1.Return on equity (ROE) (D6/A)

3.38%

3.18%

6.94%

10.57%

11.47%

2.Return on capital employed (ROCE) (D5/(C-B1))

2.62%

2.80%

6.29%

9.47%

10.15%

3.Return on assets (ROA) (D6/C)

1.83%

2.39%

5.89%

8.84%

9.36%

4.Return on revenue (D6/D1)

4.25%

3.98%

11.09%

22.87%

30.35%

5.Operating expenses to net income (D2/D6)

43.48%

48.14%

22.75%

16.66%

17.85%

6.Management expenses (D4/D2)

25.54%

23.08%

48.83%

66.68%

62.24%

0.53

0.50

1.13

1.80

2.04

1.Current assets to current liabilities (C1/B1) (times)

0.26

0.57

3.47

3.87

2.90

2.Total liabilities to total assets (B/C) (times)

0.46

0.25

0.15

0.16

0.18

0.71%

0.00%

6.70%

12.25%

11.46%

54.03%

75.10%

84.76%

83.63%

81.62%

15.63

15.65

16.31

17.05

17.80

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

1.98

16.94

6.39

1.08

0.92

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.12

2.78

5.91

1.44

1.11

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

F.Efficiency ratios/profitability ratios

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

138

Financial Statement Analysis of Financial Sector

First Habib Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

2,846,818

2,618,148

2,892,195

3,059,624

3,127,196

1.Certificate capital

1,008,000

1,008,000

1,008,000

1,008,000

1,008,000

2.Reserves

1,619,090

1,407,211

1,668,921

1,825,693

1,907,997

219,728

202,937

215,274

225,931

211,199

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

1,178,832

663,054

885,692

1,015,590

1,438,225

778,516

527,696

728,545

820,814

1,229,146

400,316

135,358

157,147

194,776

209,079

C.Total assets (C1+C2)

4,025,650

3,281,202

3,777,887

4,075,214

4,565,421

1.Current assets (a + b)

1,303,313

1,163,360

1,302,277

1,531,467

1,818,515

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

150,213

302,136

212,337

111,528

122,397

1,153,100

861,224

1,089,940

1,419,939

1,696,118

2,722,337

2,117,842

2,475,610

2,543,747

2,746,906

2,713,543

2,103,719

2,435,300

2,372,955

2,501,153

b.Long-term investments

1,211

80

32,291

162,256

234,071

c.Other non-current assets

7,583

14,043

8,019

8,536

11,682

1.Gross revenue(loss)

1,666,786

1,666,234

317,651

346,280

378,915

2.Operating expenses

1,390,608

1,357,193

47,817

55,711

57,883

3.Operating profit

276,178

309,041

269,834

290,569

321,032

4.Modaraba co's management fees

(29,873)

27,068

29,713

30,880

38,338

5.Profit/(loss) before taxation

268,855

243,613

267,421

277,922

345,045

6.Profit/(loss) after taxation

268,855

243,613

267,421

277,922

345,045

1.No. of certificates (000)

201,600

201,600

201,600

201,600

201,600

2.Cash dividend

21.00%

20.00%

21.00%

22.00%

20.00%

0.00%

0.00%

0.00%

0.00%

0.00%

559,621

805,462

(102,404)

129,830

24,870

1.Return on equity (ROE) (D6/A)

9.44%

9.30%

9.25%

9.08%

11.03%

2.Return on capital employed (ROCE) (D5/(C-B1))

8.28%

8.85%

8.77%

8.54%

10.34%

3.Return on assets (ROA) (D6/C)

6.68%

7.42%

7.08%

6.82%

7.56%

16.13%

14.62%

84.19%

80.26%

91.06%

517.23%

557.11%

17.88%

20.05%

16.78%

-2.15%

1.99%

62.14%

55.43%

66.23%

1.33

1.21

1.33

1.38

1.71

1.Current assets to current liabilities (C1/B1) (times)

1.67

2.20

1.79

1.87

1.48

2.Total liabilities to total assets (B/C) (times)

0.29

0.20

0.23

0.25

0.32

0.03%

0.00%

0.85%

3.98%

5.13%

70.72%

79.79%

76.56%

75.08%

68.50%

14.12

12.99

14.35

15.18

15.51

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

2.08

3.31

-0.38

0.47

0.07

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.72

1.53

-0.14

0.16

0.02

a.Fixed assets

D.Profit & loss account

E.Other items

3.Stock dividend/bonus shares


4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

139

Financial Statement Analysis of Financial Sector

First IBL Modaraba


Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

171,959

239,066

247,982

230,977

191,324

116,875

201,875

201,875

201,875

201,875

48,348

31,892

39,142

39,172

39,993

6,736

5,299

6,965

(10,070)

(50,544)

85,000

17,568

130,802

131,900

67,831

44,392

3,695

126,999

127,681

58,463

41,688

2.Non-current liabilities

13,873

3,803

4,219

9,368

2,704

C.Total assets (C1+C2)

274,527

369,868

379,882

298,808

235,716

1.Current assets (a + b)

215,711

307,893

338,249

196,738

140,645

21,956

1,144

1,058

1,976

46

193,755

306,749

337,191

194,762

140,599

58,816

61,975

41,633

102,070

95,071

27,405

22,935

4,248

2,777

1,146

7,809

38,857

29,461

31,411

31,231

37,385

60,436

64,464

1.Gross revenue(loss)

25,619

34,037

60,205

49,576

8,837

2.Operating expenses

13,680

13,474

40,739

15,158

12,687

3.Operating profit

11,939

20,563

19,466

34,418

(3,850)

546

183

5.Profit/(loss) before taxation

4,916

1,644

2,082

(10,190)

(40,473)

6.Profit/(loss) after taxation

4,916

1,644

2,082

(10,190)

(40,473)

1.No. of certificates (000)

11,687

20,188

20,188

20,188

20,188

2.Cash dividend

5.00%

0.00%

3.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(25,767)

9,496

3,804

61,838

(11,024)

1.Return on equity (ROE) (D6/A)

2.86%

0.69%

0.84%

-4.41%

-21.15%

2.Return on capital employed (ROCE) (D5/(C-B1))

1.82%

0.68%

0.83%

-4.24%

-20.86%

3.Return on assets (ROA) (D6/C)

1.79%

0.44%

0.55%

-3.41%

-17.17%

19.19%

4.83%

3.46%

-20.55%

-457.99%

278.28%

819.59%

1,956.72%

-148.75%

-31.35%

3.99%

1.36%

0.00%

0.00%

0.00%

0.42

0.08

0.10

-0.50

-2.00

58.38

2.42

2.65

3.37

3.37

0.06

0.35

0.35

0.23

0.19

0.00%

2.11%

0.00%

13.00%

12.50%

62.64%

64.64%

65.28%

77.30%

81.17%

14.71

11.84

12.28

11.44

9.48

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-5.24

5.78

1.83

-6.07

0.27

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-6.97

0.07

0.03

1.06

-0.26

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

4.Modaraba co's management fees

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios
1.Current assets to current liabilities (C1/B1) (times)
2.Total liabilities to total assets (B/C) (times)
3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

140

Financial Statement Analysis of Financial Sector

KASB Modaraba
Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

42,716

258,322

275,418

307,639

330,222

83,160

282,744

282,744

282,744

282,744

8,734

11,938

20,486

40,555

60,894

(49,178)

(36,360)

(27,812)

(15,660)

(13,416)

19,958

(665)

169,833

185,191

678,915

806,234

1,306,744

80,309

159,906

665,904

633,387

1,189,718

2.Non-current liabilities

89,524

25,285

13,011

172,847

117,026

C.Total assets (C1+C2)

232,507

443,513

953,668

1,113,873

1,636,966

1.Current assets (a + b)

125,038

302,421

762,537

801,245

1,164,792

a.Cash and banks balances

33,845

128,714

59,225

109,829

66,987

b.Other current assets

91,193

173,707

703,312

691,416

1,097,805

107,469

141,092

191,131

312,628

472,174

2.Non-current assets (a + b + c)

1,803

7,643

8,089

10,534

8,883

17,020

19,342

18,959

10,495

105,666

116,429

163,700

283,135

452,796

1.Gross revenue(loss)

10,700

41,990

87,645

161,081

197,753

2.Operating expenses

14,516

18,118

24,895

34,102

41,513

3.Operating profit

(3,816)

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

23,872

62,690

126,979

156,240

1,780

1,899

4,460

4,520

5.Profit/(loss) before taxation

7,428

16,023

17,096

40,139

40,677

6.Profit/(loss) after taxation

8,078

16,023

17,096

40,139

40,677

4.Modaraba co's management fees

E.Other items
8,316

28,274

28,274

28,274

28,274

2.Cash dividend

0.00%

0.00%

2.80%

6.40%

6.50%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

1.No. of certificates (000)

(174,184)

(4,931)

(529,121)

(27,481)

(472,580)

18.91%

6.20%

6.21%

13.05%

12.32%

2.Return on capital employed (ROCE) (D5/(C-B1))

4.88%

5.65%

5.94%

8.35%

9.09%

3.Return on assets (ROA) (D6/C)

3.47%

3.61%

1.79%

3.60%

2.48%

75.50%

38.16%

19.51%

24.92%

20.57%

179.70%

113.07%

145.62%

84.96%

102.06%

0.00%

9.82%

7.63%

13.08%

10.89%

0.97

0.57

0.60

1.42

1.44

1.Current assets to current liabilities (C1/B1) (times)

1.56

1.89

1.15

1.27

0.98

2.Total liabilities to total assets (B/C) (times)

0.73

0.42

0.71

0.72

0.80

0.00%

3.84%

2.03%

1.70%

0.64%

18.37%

58.24%

28.88%

27.62%

20.17%

5.14

9.14

9.74

10.88

11.68

-21.56

-0.31

-30.95

-0.68

-11.62

-2.17

-0.03

-0.79

-0.04

-0.40

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

141

Financial Statement Analysis of Financial Sector

Modaraba Al-Mali
Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

238,341

211,447

199,045

178,889

176,201
184,239

184,240

184,240

184,240

184,239

2.Reserves

55,453

55,453

55,964

55,964

55,964

3.Unappropriated profit

(1,352)

(28,246)

(41,159)

(61,314)

(64,002)

1.Certificate capital

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

1,039

512

69,776

50,926

49,813

34,163

50,926

48,266

36,622

39,349

28,061

32,685

2.Non-current liabilities

21,510

14,304

10,464

6,102

18,241

C.Total assets (C1+C2)

309,156

262,885

248,858

213,052

227,127

1.Current assets (a + b)

145,410

63,408

78,431

71,328

77,221

a.Cash and banks balances

72,278

10,490

1,115

3,237

8,644

b.Other current assets

73,132

52,918

77,316

68,091

68,577

163,746

199,477

170,427

141,724

149,906
123,443

2.Non-current assets (a + b + c)

125,644

124,211

131,245

132,728

b.Long-term investments

27,545

33,104

22,270

c.Other non-current assets

10,557

42,162

16,912

8,996

26,463

1.Gross revenue(loss)

36,620

30,258

61,498

85,484

105,760

2.Operating expenses

38,800

39,655

68,743

79,468

102,447

3.Operating profit

(2,180)

(9,397)

(7,245)

a.Fixed assets

D.Profit & loss account

6,016

3,313

5.Profit/(loss) before taxation

6,120

(22,287)

(12,913)

(20,015)

(2,430)

6.Profit/(loss) after taxation

6,120

(22,287)

(12,913)

(20,155)

(2,689)

1.No. of certificates (000)

18,424

18,424

18,424

18,424

18,424

2.Cash dividend

2.50%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

98,787

(45,403)

12,776

20,887

26,281

1.Return on equity (ROE) (D6/A)

2.57%

-10.54%

-6.49%

-11.27%

-1.53%

2.Return on capital employed (ROCE) (D5/(C-B1))

2.35%

-9.85%

-6.16%

-10.82%

-1.25%

3.Return on assets (ROA) (D6/C)

1.98%

-8.48%

-5.19%

-9.46%

-1.18%

16.71%

-73.66%

-21.00%

-23.58%

-2.54%

633.99%

-177.93%

-532.35%

-394.28%

-3,809.85%

0.00%

0.00%

0.00%

0.00%

0.00%

0.33

-1.21

-0.70

-1.09

-0.15

1.Current assets to current liabilities (C1/B1) (times)

3.01

1.73

1.99

2.54

2.36

2.Total liabilities to total assets (B/C) (times)

0.23

0.19

0.20

0.16

0.22

8.91%

12.59%

8.95%

0.00%

0.00%

77.09%

80.43%

79.98%

83.96%

77.58%

12.94

11.48

10.80

9.71

9.56

16.14

2.04

-0.99

-1.04

-9.77

2.05

-1.24

0.32

0.74

0.80

4.Modaraba co's management fees

E.Other items

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

142

Financial Statement Analysis of Financial Sector

First National Bank Modaraba


Items
A.Total equity (A1 to A3)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

319,530

305,305

331,540

337,139

339,776

250,000

250,000

250,000

250,000

250,000

2.Reserves

24,906

27,061

32,308

38,428

43,955

3.Unappropriated profit

44,624

28,244

49,232

48,711

45,821

1.Certificate capital

4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

(13,057)

(16,822)

2,472,502

2,121,959

1,429,718

1,830,434

1,623,192

1,640,342

1,410,556

1,153,656

1,310,168

1,148,885

832,160

711,403

276,062

520,266

474,307

C.Total assets (C1+C2)

2,778,975

2,410,442

1,761,258

2,167,573

1,962,968

1.Current assets (a + b)

1,599,576

1,450,753

1,024,130

1,263,771

961,656

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

12,265

13,879

5,019

8,140

17,415

1,587,311

1,436,874

1,019,111

1,255,631

944,241

1,179,399

959,689

737,128

903,802

1,001,312

1,998

211,516

420,938

727,257

892,906

1,176,562

748,173

314,887

175,019

104,975

839

1,303

1,526

3,431

1.Gross revenue(loss)

227,964

352,479

370,064

473,558

605,821

2.Operating expenses

16,432

66,634

134,157

15,695

20,800

211,532

285,845

235,907

457,863

585,021

3,529

1,197

2,915

3,400

3,071

5.Profit/(loss) before taxation

31,763

10,775

26,234

30,600

27,637

6.Profit/(loss) after taxation

31,763

10,775

26,234

30,600

27,637

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items
25,000

25,000

25,000

25,000

25,000

10.00%

0.00%

10.00%

10.00%

10.00%

0.00%

0.00%

0.00%

0.00%

0.00%

398,409

(398,408)

833,512

240,594

772,304

1.Return on equity (ROE) (D6/A)

9.94%

3.53%

7.91%

9.08%

8.13%

2.Return on capital employed (ROCE) (D5/(C-B1))

2.79%

1.08%

4.32%

3.57%

3.39%

3.Return on assets (ROA) (D6/C)

1.14%

0.45%

1.49%

1.41%

1.41%

4.Return on revenue (D6/D1)

13.93%

3.06%

7.09%

6.46%

4.56%

5.Operating expenses to net income (D2/D6)

51.73%

618.41%

511.39%

51.29%

75.26%

6.Management expenses (D4/D2)

21.48%

1.80%

2.17%

21.66%

14.76%

1.27

0.43

1.05

1.22

1.11

1.Current assets to current liabilities (C1/B1) (times)

0.98

1.03

0.89

0.96

0.84

2.Total liabilities to total assets (B/C) (times)

0.89

0.88

0.81

0.84

0.83

42.34%

31.04%

17.88%

8.07%

5.35%

11.50%

12.67%

18.82%

15.55%

17.31%

12.78

12.21

13.26

13.49

13.59

1.No. of certificates (000)


2.Cash dividend
3.Stock dividend/bonus shares
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

143

12.54

-36.98

31.77

7.86

27.94

0.24

-0.28

0.72

0.18

0.67

Financial Statement Analysis of Financial Sector

First Pak Modaraba


Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

96,920

59,416

66,313

75,983

72,853

125,400

125,400

125,400

125,400

125,400

15,710

15,466

18,225

20,911

21,288

(44,190)

(81,450)

(77,312)

(70,328)

(73,835)

5,240

4,784

5,373

5,943

5,713

3,932

4,175

4,939

5,478

5,426

1,308

609

434

465

287

C.Total assets (C1+C2)

102,160

64,200

71,686

81,926

78,566

1.Current assets (a + b)

96,590

60,771

69,968

79,970

76,537

2.Non-current liabilities

a.Cash and banks balances

44,470

1,532

37,759

19,292

9,086

b.Other current assets

52,120

59,239

32,209

60,678

67,451

5,570

3,429

1,718

1,956

2,029

80

124

1,475

1,691

548

5,490

3,305

243

265

1,481

1.Gross revenue(loss)

14,282

3,574

9,328

8,831

8,199

2.Operating expenses

3,319

3,579

4,646

4,777

4,800

10,963

(5)

4,682

4,054

3,399

490

(766)

(1,498)

5.Profit/(loss) before taxation

6,121

33,498

6,396

13,483

1,878

6.Profit/(loss) after taxation

5,631

33,498

6,897

13,432

1,886

1.No. of certificates (000)

12,540

12,540

12,540

12,540

12,540

2.Cash dividend

3.00%

0.00%

3.00%

4.00%

1.20%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(6,315)

(45,608)

19,167

11,997

(2,015)

1.Return on equity (ROE) (D6/A)

5.81%

56.38%

10.40%

17.68%

2.59%

2.Return on capital employed (ROCE) (D5/(C-B1))

6.23%

55.81%

9.58%

17.64%

2.57%

3.Return on assets (ROA) (D6/C)

5.51%

52.18%

9.62%

16.40%

2.40%

4.Return on revenue (D6/D1)

39.43%

937.27%

73.94%

152.10%

23.00%

5.Operating expenses to net income (D2/D6)

58.94%

10.68%

35.56%

254.51%

6.Management expenses (D4/D2)

14.76%

0.00%

-16.49%

-31.36%

0.00%

0.45

2.67

0.55

1.07

0.15

24.57

14.56

14.17

14.60

14.11

0.05

0.07

0.07

0.07

0.07

0.00%

0.00%

0.00%

0.00%

0.00%

94.87%

92.55%

92.50%

92.75%

92.73%

7.73

4.74

5.29

6.06

5.81

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-1.12

-1.36

2.78

0.89

-1.07

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-1.61

-10.92

3.88

2.19

-0.37

2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

F.Efficiency ratios/profitability ratios

7.Earning Per Certificate (D6/E1)

67.36%

G.Liquidity Ratios
1.Current assets to current liabilities (C1/B1) (times)
2.Total liabilities to total assets (B/C) (times)
3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

144

Financial Statement Analysis of Financial Sector

First Paramount Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

108,957

118,845

126,764

144,006

153,805

1.Certificate capital

58,633

58,633

58,633

58,633

58,633

2.Reserves

41,229

50,277

56,127

50,323

61,407

9,095

9,935

12,004

35,050

33,765

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

96,827

108,391

121,778

101,430

115,362

78,899

92,633

103,623

61,614

42,063

2.Non-current liabilities

17,928

15,758

18,155

39,816

73,299

C.Total assets (C1+C2)

205,784

227,236

248,542

245,436

269,167

1.Current assets (a + b)

107,105

141,753

184,095

131,820

164,523

a.Cash and banks balances

37,777

17,113

30,310

3,585

18,954

b.Other current assets

69,328

124,640

153,785

128,235

145,569

98,679

85,483

64,447

113,616

104,644

53,830

59,510

29,104

31,584

31,699

3,577

22,847

35,340

82,024

72,937

41,272

3,126

1.Gross revenue(loss)

28,339

39,194

28,356

38,914

47,673

2.Operating expenses

6,936

6,679

14,476

18,562

18,308

21,403

32,515

13,880

20,352

29,365

1,373

2,011

731

1,440

2,933

5.Profit/(loss) before taxation

12,359

18,098

16,713

27,796

23,573

6.Profit/(loss) after taxation

12,359

18,098

16,713

27,796

23,573

2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items
5,863

5,863

5,863

5,863

5,863

14.00%

15.00%

18.00%

23.50%

21.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

33,147

25,305

19,587

(16,004)

24,383

11.34%

15.23%

13.18%

19.30%

15.33%

2.Return on capital employed (ROCE) (D5/(C-B1))

9.74%

13.45%

11.53%

15.12%

10.38%

3.Return on assets (ROA) (D6/C)

6.01%

7.96%

6.72%

11.33%

8.76%

4.Return on revenue (D6/D1)

43.61%

46.18%

58.94%

71.43%

49.45%

5.Operating expenses to net income (D2/D6)

56.12%

36.90%

86.62%

66.78%

77.67%

6.Management expenses (D4/D2)

19.80%

30.11%

5.05%

7.76%

16.02%

2.11

3.09

2.85

4.74

4.02

1.Current assets to current liabilities (C1/B1) (times)

1.36

1.53

1.78

2.14

3.91

2.Total liabilities to total assets (B/C) (times)

0.47

0.48

0.49

0.41

0.43

1.74%

10.05%

14.22%

33.42%

27.10%

52.95%

52.30%

51.00%

58.67%

57.14%

18.58

20.27

21.62

24.56

26.23

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

2.68

1.40

1.17

-0.58

1.03

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.42

0.27

0.19

-0.26

0.58

1.No. of certificates (000)


2.Cash dividend

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

145

Financial Statement Analysis of Financial Sector

First Prudential Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

601,944

472,061

505,488

512,997

519,608

1.Certificate capital

872,177

872,177

872,177

872,177

872,177

2.Reserves

113,586

113,586

120,245

126,899

133,492

(383,819)

(513,702)

(486,934)

(486,079)

(486,061)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

151,660

109,666

64,478

59,127

71,656

90,195

80,295

45,412

32,278

38,758

2.Non-current liabilities

61,465

29,371

19,066

26,849

32,898

C.Total assets (C1+C2)

753,604

581,727

569,966

572,124

591,264

1.Current assets (a + b)

498,192

415,671

430,375

462,482

440,827

a.Cash and banks balances

161,758

98,265

288,557

24,763

90,368

b.Other current assets

336,434

317,406

141,818

437,719

350,459

255,412

166,056

139,591

109,642

150,437

196,239

117,129

85,179

66,500

108,094

6,809

7,286

7,277

7,721

6,447

52,364

41,641

47,135

35,421

35,896

1.Gross revenue(loss)

148,549

119,615

87,636

87,176

91,329

2.Operating expenses

17,934

16,270

18,851

17,147

14,848

130,615

103,345

68,785

70,029

76,481

4,623

3,697

1,735

5.Profit/(loss) before taxation

41,788

(103,260)

32,835

33,270

32,969

6.Profit/(loss) after taxation

41,455

(103,718)

33,293

33,270

32,969

1.No. of certificates (000)

87,218

87,218

87,218

87,218

87,218

2.Cash dividend

3.00%

0.00%

3.00%

3.00%

3.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(17,336)

(17,336)

90,373

62,649

74,543

1.Return on equity (ROE) (D6/A)

6.89%

-21.97%

6.59%

6.49%

6.34%

2.Return on capital employed (ROCE) (D5/(C-B1))

6.30%

-20.59%

6.26%

6.16%

5.97%

3.Return on assets (ROA) (D6/C)

5.50%

-17.83%

5.84%

5.82%

5.58%

4.Return on revenue (D6/D1)

27.91%

-86.71%

37.99%

38.16%

36.10%

5.Operating expenses to net income (D2/D6)

43.26%

-15.69%

56.62%

51.54%

45.04%

6.Management expenses (D4/D2)

25.78%

0.00%

0.00%

21.56%

11.69%

0.48

-1.19

0.38

0.38

0.38

1.Current assets to current liabilities (C1/B1) (times)

5.52

5.18

9.48

14.33

11.37

2.Total liabilities to total assets (B/C) (times)

0.20

0.19

0.11

0.10

0.12

0.90%

1.25%

1.28%

1.35%

1.09%

79.88%

81.15%

88.69%

89.67%

87.88%

6.90

5.41

5.80

5.88

5.96

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-0.42

0.17

2.71

1.88

2.26

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.19

-0.22

1.99

1.94

1.92

2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

146

Financial Statement Analysis of Financial Sector

First Punjab Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

443,635

362,998

370,029

296,446

142,698

1.Certificate capital

340,200

340,200

340,200

340,200

340,200

2.Reserves

110,684

110,683

114,199

114,199

128,065

(7,249)

(87,885)

(84,370)

(157,953)

(325,567)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit

3,150,969

2,683,043

2,295,069

2,331,908

1,767,981

1.Current liabilities

2,021,160

1,350,630

1,188,896

2,137,496

1,622,398

4.Others

B.Total liabilities (B1 + B2)


2.Non-current liabilities

1,129,809

1,332,413

1,106,173

194,412

145,583

C.Total assets (C1+C2)

3,594,604

3,046,041

2,665,098

2,628,354

1,910,679

1.Current assets (a + b)

1,724,383

1,318,999

1,143,033

1,344,489

1,099,166

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

38,611

26,434

42,247

182,411

58,509

1,685,772

1,292,565

1,100,786

1,162,078

1,040,657

1,870,221

1,727,042

1,522,065

1,283,865

811,513

1,802,881

1,633,185

1,447,816

1,198,450

743,457

b.Long-term investments

10,785

38,032

19,553

38,722

21,622

c.Other non-current assets

56,555

55,825

54,696

46,693

46,434

1.Gross revenue(loss)

715,988

1,127,458

990,266

853,732

617,354

2.Operating expenses

18,172

24,129

26,650

32,608

33,706

697,816

1,103,329

963,616

821,124

583,648

1,891

5.Profit/(loss) before taxation

17,019

90,829

7,031

(70,182)

(167,613)

6.Profit/(loss) after taxation

17,019

90,829

7,031

(70,182)

(167,613)

1.No. of certificates (000)

34,020

34,020

34,020

34,020

34,020

2.Cash dividend

3.20%

0.00%

1.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(1,473,786)

488,814

317,145

90,069

348,219

1.Return on equity (ROE) (D6/A)

3.84%

25.02%

1.90%

-23.67%

-117.46%

2.Return on capital employed (ROCE) (D5/(C-B1))

1.08%

5.36%

0.48%

-14.30%

-58.14%

3.Return on assets (ROA) (D6/C)

0.47%

2.98%

0.26%

-2.67%

-8.77%

4.Return on revenue (D6/D1)

2.38%

8.06%

0.71%

-8.22%

-27.15%

106.77%

26.57%

379.04%

-46.46%

-20.11%

10.41%

0.00%

0.00%

0.00%

0.00%

0.50

2.67

0.21

-2.06

-4.93

1.Current assets to current liabilities (C1/B1) (times)

0.85

0.98

0.96

0.63

0.68

2.Total liabilities to total assets (B/C) (times)

0.88

0.88

0.86

0.89

0.93

0.30%

1.25%

0.73%

1.47%

1.13%

12.34%

11.92%

13.88%

11.28%

7.47%

13.04

10.67

10.88

8.71

4.19

-86.60

5.38

45.11

-1.28

-2.08

-0.73

0.36

0.27

0.04

0.21

a.Fixed assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

5.Operating expenses to net income (D2/D6)


6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

147

Financial Statement Analysis of Financial Sector

Standard Chartered Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

892,332

923,617

928,614

938,070

960,694

1.Certificate capital

453,835

453,835

453,835

453,835

453,835

2.Reserves

351,533

372,313

388,289

405,611

425,793

86,964

97,469

86,490

78,624

81,066

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2,183,668

2,513,566

2,676,451

3,223,039

5,170,931

1,782,628

2,052,797

2,317,417

2,844,695

4,480,681

401,040

460,769

359,034

378,344

690,250

C.Total assets (C1+C2)

3,076,000

3,437,183

3,605,065

4,161,109

6,131,625

1.Current assets (a + b)

1,253,455

1,022,736

1,131,602

774,051

740,526

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

16,420

42,742

77,804

22,378

10,315

1,237,035

979,994

1,053,798

751,673

730,211

1,822,545

2,414,447

2,473,463

3,387,058

5,391,099

4,036

3,650

1,953,662

2,968,010

4,336,366

1,818,509

2,410,797

519,601

418,446

1,054,417

200

602

316

1.Gross revenue(loss)

273,008

513,324

850,201

1,121,884

1,679,681

2.Operating expenses

42,873

41,354

46,744

53,315

67,322

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

230,135

471,970

802,980

1,068,569

1,612,359

4.Modaraba co's management fees

10,811

11,544

9,292

9,819

11,441

5.Profit/(loss) before taxation

97,299

103,899

79,880

86,607

100,911

6.Profit/(loss) after taxation

97,299

103,899

79,880

86,607

100,911

3.Operating profit

E.Other items
45,383

45,383

45,383

45,383

45,383

16.00%

16.50%

17.00%

17.25%

17.50%

0.00%

0.00%

0.00%

0.00%

0.00%

(296,283)

(84,021)

251,783

(638,235)

(1,587,546)

10.90%

11.25%

8.60%

9.23%

10.50%

2.Return on capital employed (ROCE) (D5/(C-B1))

7.52%

7.51%

6.20%

6.58%

6.11%

3.Return on assets (ROA) (D6/C)

3.16%

3.02%

2.22%

2.08%

1.65%

4.Return on revenue (D6/D1)

35.64%

20.24%

9.40%

7.72%

6.01%

5.Operating expenses to net income (D2/D6)

44.06%

39.80%

58.52%

61.56%

66.71%

6.Management expenses (D4/D2)

25.22%

27.92%

19.88%

18.42%

16.99%

2.14

2.29

1.76

1.91

2.22

1.Current assets to current liabilities (C1/B1) (times)

0.70

0.50

0.49

0.27

0.17

2.Total liabilities to total assets (B/C) (times)

0.71

0.73

0.74

0.77

0.84

59.12%

70.14%

14.41%

10.06%

17.20%

29.01%

26.87%

25.76%

22.54%

15.67%

19.66

20.35

20.46

20.67

21.17

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

-3.05

-0.81

3.15

-7.37

-15.73

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.17

-0.04

0.11

-0.22

-0.35

1.No. of certificates (000)


2.Cash dividend
3.Stock dividend/bonus shares
4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

148

Financial Statement Analysis of Financial Sector

First Treet Manufacaturing Modaraba


Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

111,649

428,285

476,801

878,189

1,010,846

142,857

500,000

500,000

800,000

800,000

24,258

85,872

179,960

(31,208)

(71,715)

(47,457)

(7,683)

30,886

504,000

423,589

327,498

471,211

550,453

150,354

39,754

327,498

264,521

93,342

150,354

2.Non-current liabilities

383,835

206,690

457,111

C.Total assets (C1+C2)

535,238

755,783

948,012

1,428,642

1,665,200

1.Current assets (a + b)

378,932

525,747

609,334

1,075,593

1,313,386

16,539

64,775

38,627

58,762

367,208

362,393

460,972

570,707

1,016,831

946,178

156,306

230,036

338,678

353,049

351,814

156,266

229,996

323,704

341,557

322,813

40

14,974

11,492

29,001

40

1.Gross revenue(loss)

489,112

965,983

119,001

185,672

279,655

2.Operating expenses

19,877

28,623

44,722

60,891

93,749

3.Operating profit

937,360

74,279

124,781

185,906

4.Modaraba co's management fees

5.Profit/(loss) before taxation

(15,618)

(40,507)

48,516

123,228

188,177

6.Profit/(loss) after taxation

(15,618)

(40,507)

48,516

123,228

188,177

1.No. of certificates (000)

14,286

50,000

50,000

80,000

80,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(242,943)

(139,423)

(21,958)

(264,449)

344,288

-13.99%

-9.46%

10.18%

14.03%

18.62%

2.Return on capital employed (ROCE) (D5/(C-B1))

-3.15%

-9.46%

7.10%

9.23%

12.42%

3.Return on assets (ROA) (D6/C)

-2.92%

-5.36%

5.12%

8.63%

11.30%

4.Return on revenue (D6/D1)

-3.19%

-4.19%

40.77%

66.37%

67.29%

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)
a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

-127.27%

-70.66%

92.18%

49.41%

49.82%

6.Management expenses (D4/D2)

0.00%

0.00%

0.00%

0.00%

0.00%

7.Earning Per Certificate (D6/E1)

-1.09

-0.81

0.97

1.54

2.35

1.Current assets to current liabilities (C1/B1) (times)

9.53

1.61

2.30

11.52

8.74

2.Total liabilities to total assets (B/C) (times)

0.79

0.43

0.50

0.39

0.09

0.00%

0.01%

1.58%

0.80%

1.74%

20.86%

56.67%

50.29%

61.47%

60.70%

7.82

8.57

9.54

10.98

12.64

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

15.56

3.44

-0.45

-2.15

1.83

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-6.11

-0.43

-0.08

-2.83

2.29

5.Operating expenses to net income (D2/D6)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

149

Financial Statement Analysis of Financial Sector

First Tri-Star Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

199,858

211,121

208,545

207,015

207,015

211,631

211,631

211,631

211,631

211,631

26,176

28,451

30,053

30,053

30,053

3.Unappropriated profit

(37,949)

(28,961)

(33,139)

(34,669)

(34,669)

4.Others

(11,890)

(17,269)

(18,267)

(17,707)

(17,707)

37,633

22,480

70,768

78,163

78,163

37,633

22,480

70,768

78,163

78,163

Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves

B.Total liabilities (B1 + B2)


1.Current liabilities

C.Total assets (C1+C2)

225,601

216,332

261,046

267,471

267,471

1.Current assets (a + b)

132,947

128,853

177,207

186,435

186,435

2.Non-current liabilities

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

269

113

1,686

1,134

1,134

132,678

128,740

175,521

185,301

185,301

92,654

87,479

83,839

81,036

81,036

8,909

274

244

326

326

83,720

80,426

79,183

79,166

79,166

25

6,779

4,412

1,544

1,544

1.Gross revenue(loss)

3,847

16,303

12,486

2,560

2,560

2.Operating expenses

3,342

3,772

3,678

4,089

4,089

505

12,531

8,808

(1,529)

(1,529)

1,265

801

5.Profit/(loss) before taxation

504

11,263

8,006

(1,530)

(1,530)

6.Profit/(loss) after taxation

504

11,263

8,006

(1,530)

(1,530)

1.No. of certificates (000)

21,163

21,163

21,163

21,163

21,163

2.Cash dividend

0.00%

5.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(7,003)

473

(7,715)

(490)

(490)

1.Return on equity (ROE) (D6/A)

0.25%

5.33%

3.84%

-0.74%

-0.74%

2.Return on capital employed (ROCE) (D5/(C-B1))

0.27%

5.81%

4.21%

-0.81%

-0.81%

3.Return on assets (ROA) (D6/C)

0.22%

5.21%

3.07%

-0.57%

-0.57%

13.10%

69.09%

64.12%

-59.77%

-59.77%

663.10%

33.49%

45.94%

-267.25%

-267.25%

0.00%

33.54%

21.78%

0.00%

0.00%

0.02

0.53

0.38

-0.07

-0.07

1.Current assets to current liabilities (C1/B1) (times)

3.53

5.73

2.50

2.39

2.39

2.Total liabilities to total assets (B/C) (times)

0.17

0.10

0.27

0.29

0.29

37.11%

37.18%

30.33%

29.60%

29.60%

88.59%

97.59%

79.89%

77.40%

77.40%

9.44

9.98

9.85

9.78

9.78

-13.89

0.04

-0.96

0.32

0.32

-0.19

0.02

-0.11

-0.01

-0.01

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees

E.Other items

F.Efficiency ratios/profitability ratios

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

150

Financial Statement Analysis of Financial Sector

Trust Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

243,563

257,029

279,582

283,389

280,647

1.Certificate capital

273,000

298,000

298,000

298,000

298,000

2.Reserves

(29,437)

(40,971)

49,852

60,361

61,578

(68,270)

(74,972)

(78,931)

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

28,005

43,023

91,552

93,825

119,899

25,943

15,551

33,605

27,052

58,533

2,062

27,472

57,947

66,773

61,366

C.Total assets (C1+C2)

271,568

300,052

371,134

377,214

400,546

1.Current assets (a + b)

203,502

189,713

185,059

191,959

206,117

2.Non-current liabilities

3,205

8,161

8,314

16,777

24,539

200,297

181,552

176,745

175,182

181,578

68,066

110,339

186,075

185,255

194,429

a.Fixed assets

45,830

89,797

163,188

166,923

176,560

b.Long-term investments

21,953

20,328

11,359

11,523

9,982

283

214

11,528

6,809

7,887

1.Gross revenue(loss)

18,674

47,498

59,305

73,690

84,972

2.Operating expenses

15,757

14,088

8,950

13,703

17,067

2,917

33,410

50,355

59,987

67,905

2,272

2,335

1,346

a.Cash and banks balances


b.Other current assets
2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account

3.Operating profit
4.Modaraba co's management fees
5.Profit/(loss) before taxation

(1,933)

33,087

20,451

21,019

12,110

6.Profit/(loss) after taxation

(1,671)

33,087

23,397

21,019

12,110

1.No. of certificates (000)

27,300

29,800

29,800

29,800

29,800

2.Cash dividend

0.00%

0.00%

5.00%

5.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

44,262

56,419

94,764

56,182

72,553

1.Return on equity (ROE) (D6/A)

-0.69%

12.87%

8.37%

7.42%

4.32%

2.Return on capital employed (ROCE) (D5/(C-B1))

-0.79%

11.63%

6.06%

6.00%

3.54%

3.Return on assets (ROA) (D6/C)

-0.62%

11.03%

6.30%

5.57%

3.02%

4.Return on revenue (D6/D1)

-8.95%

69.66%

39.45%

28.52%

14.25%

E.Other items

F.Efficiency ratios/profitability ratios

-942.97%

42.58%

38.25%

65.19%

140.93%

6.Management expenses (D4/D2)

0.00%

0.00%

25.39%

17.04%

7.89%

7.Earning Per Certificate (D6/E1)

-0.06

1.11

0.79

0.71

0.41

1.Current assets to current liabilities (C1/B1) (times)

7.84

12.20

5.51

7.10

3.52

2.Total liabilities to total assets (B/C) (times)

0.10

0.14

0.25

0.25

0.30

8.08%

6.77%

3.06%

3.05%

2.49%

89.69%

85.66%

75.33%

75.13%

70.07%

8.92

8.63

9.38

9.51

9.42

-26.49

1.71

4.05

2.67

5.99

1.71

3.63

2.82

2.08

1.24

5.Operating expenses to net income (D2/D6)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D6) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

151

Financial Statement Analysis of Financial Sector

First UDL Modaraba

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

439,590

450,296

474,679

494,865

504,804

1.Certificate capital

263,866

263,866

263,866

263,866

263,866

2.Reserves

127,761

146,307

161,538

183,426

193,330

47,963

40,123

49,275

47,573

47,608

Items
A.Total equity (A1 to A3)

3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities

(1,436)

25

485

(203)

(115)

150,044

163,626

165,131

165,266

211,241

30,400

38,470

41,164

35,266

44,688

2.Non-current liabilities

119,644

125,156

123,967

130,000

166,553

C.Total assets (C1+C2)

588,198

613,947

640,295

659,928

715,930

1.Current assets (a + b)

443,867

433,941

456,807

466,860

354,580

a.Cash and banks balances

226,524

59,740

61,338

250,848

172,466

b.Other current assets

217,343

374,201

395,469

216,012

182,114

144,331

180,006

183,488

193,068

361,350

a.Fixed assets

88,293

107,290

96,218

149,875

291,801

b.Long-term investments

55,964

72,642

87,196

42,218

69,475

74

74

74

975

74

1.Gross revenue(loss)

69,083

90,164

105,954

146,409

155,209

2.Operating expenses

11,114

13,804

15,442

19,924

25,520

3.Operating profit

57,969

76,360

90,512

126,485

129,689

6,233

4,121

5,641

8,160

5,502

5.Profit/(loss) before taxation

56,093

37,093

50,768

73,442

49,518

6.Profit/(loss) after taxation

56,093

37,093

50,768

73,960

49,518

2.Non-current assets (a + b + c)

c.Other non-current assets

D.Profit & loss account

4.Modaraba co's management fees

E.Other items
26,386

26,386

26,386

26,386

26,386

10.00%

10.00%

12.50%

17.50%

15.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

67,326

(85,684)

73,919

283,764

136,278

1.No. of certificates (000)


2.Cash dividend

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

12.76%

8.24%

10.70%

14.95%

9.81%

2.Return on capital employed (ROCE) (D5/(C-B1))

10.06%

6.45%

8.47%

11.76%

7.38%

9.54%

6.04%

7.93%

11.21%

6.92%

4.Return on revenue (D6/D1)

81.20%

41.14%

47.92%

50.52%

31.90%

5.Operating expenses to net income (D2/D6)

19.81%

37.21%

30.42%

26.94%

51.54%

6.Management expenses (D4/D2)

56.08%

29.85%

36.53%

40.96%

21.56%

2.13

1.41

1.92

2.80

1.88

14.60

11.28

11.10

13.24

7.93

0.26

0.27

0.26

0.25

0.30

9.51%

11.83%

13.62%

6.40%

9.70%

74.74%

73.34%

74.13%

74.99%

70.51%

16.66

17.07

17.99

18.75

19.13

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

1.20

-2.31

1.46

3.84

2.75

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

2.21

-2.23

1.80

8.05

3.05

3.Return on assets (ROA) (D6/C)

7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios
1.Current assets to current liabilities (C1/B1) (times)
2.Total liabilities to total assets (B/C) (times)
3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

152

Financial Statement Analysis of Financial Sector

Unicap Modaraba
Items
A.Total equity (A1 to A3)
1.Certificate capital
2.Reserves
3.Unappropriated profit
4.Others

B.Total liabilities (B1 + B2)


1.Current liabilities
2.Non-current liabilities

C.Total assets (C1+C2)


1.Current assets (a + b)
a.Cash and banks balances
b.Other current assets
2.Non-current assets (a + b + c)

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,953

1,953

184

(174)

(359)

136,400

136,400

136,400

136,400

136,400

8,739

8,739

8,739

8,739

8,739

(143,186)

(143,186)

(144,955)

(145,313)

(145,498)

3,622

3,622

3,333

3,326

4,601

3,622

3,622

3,333

3,326

4,601

5,575

5,575

3,517

3,152

4,242

731

731

947

594

1,021

647

647

763

428

1,021

84

84

184

166

4,844

4,844

2,570

2,558

3,221
3,050

4,844

4,844

2,570

2,558

60

111

1.Gross revenue(loss)

397

397

456

375

521

2.Operating expenses

265

265

539

720

705

3.Operating profit

132

132

(83)

(345)

(184)

5.Profit/(loss) before taxation

784

784

(83)

(357)

(182)

6.Profit/(loss) after taxation

784

784

(457)

(357)

(186)

1.No. of certificates (000)

13,640

13,640

13,640

13,640

13,640

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

633

633

657

(334)

93

205.17%

51.81%

a.Fixed assets
b.Long-term investments
c.Other non-current assets

D.Profit & loss account

4.Modaraba co's management fees

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D6/A)

40.14%

40.14%

-248.37%

2.Return on capital employed (ROCE) (D5/(C-B1))

40.14%

40.14%

-45.11%

205.17%

50.70%

3.Return on assets (ROA) (D6/C)

14.06%

14.06%

-12.99%

-11.33%

-4.38%

197.48%

197.48%

-100.22%

-95.20%

-35.70%

33.80%

33.80%

-117.94%

-201.68%

-379.03%

0.00%

0.00%

0.00%

0.00%

0.00%

0.06

0.06

-0.03

-0.03

-0.01

1.Current assets to current liabilities (C1/B1) (times)

0.20

0.20

0.28

0.18

0.22

2.Total liabilities to total assets (B/C) (times)

0.65

0.65

0.95

1.06

1.08

86.89%

86.89%

73.07%

81.15%

1.41%

35.03%

35.03%

5.23%

-5.52%

-8.46%

0.14

0.14

0.01

-0.01

-0.03

1.Cash generated from operating activities to profit after tax. (E4/D6) (times)

0.81

0.81

-1.44

0.94

-0.50

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.17

0.17

0.20

-0.10

0.02

4.Return on revenue (D6/D1)


5.Operating expenses to net income (D2/D6)
6.Management expenses (D4/D2)
7.Earning Per Certificate (D6/E1)

G.Liquidity Ratios

3.Long term investment to total assets (C2b/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per certificate (A/E1)

I.Cash flow ratio

153

Financial Statement Analysis of Financial Sector

2012

EXCHANGE COMPANIES
PERFORMANCE AT A GLANCE
Exchange Companies exhibited an expansion in their balance sheet size during the period under
review. Total assets increased by 6.1 percent to stand at Rs 8.0 billion in CY12 as compared to Rs 7.6
billion in CY11.Increases in profit before and after taxation of 63.9 percent and 61.0 percent
respectively was recorded in CY12 over CY11.

ANALYSIS OF BALANCE SHEET COMPONENTS


Total equity increased from Rs 6.2 billion in

Components of Balance Sheet

CY11 to Rs 6.7 billion in CY12 reflecting an


increase of 7.6 percent over CY11. Total
Million Rs.

assets increased to Rs. 8.0 billion in CY12


from Rs. 7.6 billion in CY11, recording an
increase of 6.1 percent. Analysis also
revealed that exchange companies were held

9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0

20%

8%

bank balances because of their nature of

10%

0%

-2%

-10%
-20%
-30%

Total Equity

Total
Liabilities

Total Assets

CY 11

6,201.9

1,355.1

7,584.6

CY 12

6,672.9

1,327.3

8,045.4

8%

-2%

6%

around 50.8 percent of their total assets in the


form of highly liquid assets, i.e., cash and

6%

Growth

business. Further, the formation of total equity has mainly been through share capital which was
around 88.4 percent and 88.7 percent in CY11 and CY12 respectively.

PROFITABILITY AND O PERATING EFFICIENCY


Gross revenue reached Rs 2.5 billion in CY12 showing an increase of 26.9 percent over CY11.
Administrative and general expenses increased from Rs 1.7 billion in CY11 to Rs 2.1 billion in CY12.
Profit After Taxation

2490.7
2500

1963.1
1711.3

2084.8

700.0
600.0

1500

Million Rs.

Million Rs.

2000

Profit Before Taxation

1000
500
0

245.9

500.0
400.0

152.7

300.0
200.0

436.3
266.2

100.0
CY 11
Revenue

CY 12

0.0
CY 11

Admin. And Gen. Exp.

CY 12

Administrative and general expenses were 87.2 percent of the gross revenue in CY11 which decreased
to 83.7 percent in CY12, showing increased operating efficiency in CY12 compared to CY11. Profit

154

Financial Statement Analysis of Financial Sector

2012

before taxation increased from Rs 266.2 million in CY11 to Rs 436.3 million in CY12 registering an
increase of 63.9 percent. Similarly, profit after taxation increased from Rs 152.7 million in CY11 to
Rs 245.9 million in CY12, recording an increase of 61.0 percent.
Return on capital employed (ROCE) and
Return on Assets (ROA) increased from 4.10

3.7%

ROE

2.5%

percent to 6.33 percent and 2.01 percent to


3.06 percent respectively in CY12 over

6.3%

ROCE

CY11. Return on Equity also increased 2.46


percent in CY11 to 3.69 percent in CY12.

ROA

Breakup value per share increased from Rs.

0.0%

22.67 in CY11 to Rs. 23.33 in CY12.

155

CY 12

4.1%

CY 11

3.1%
2.0%
2.0%

4.0%

6.0%

8.0%

Financial Statement Analysis of Financial Sector

Exchange Companies - Overall


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

4,998,006

4,505,890

5,527,361

6,201,867

6,672,900

4,895,275

4,130,275

4,941,910

5,485,544

5,916,044

25,000

45,000

65,000

162,775

102,731

350,615

540,451

651,323

594,081

45,348

50,967

5,355

27,555

45,221

1,628,023

1,612,473

1,788,558

1,355,137

1,327,282

1,098,330

1,316,888

1,454,242

1,084,704

1,157,383

529,693

295,585

334,316

270,433

169,899

C.Total assets (C1+C2)

6,671,377

6,169,330

7,321,274

7,584,559

8,045,403

1.Current assets(a + b)

4,716,762

4,473,486

5,536,325

5,564,756

6,029,941

a.Cash & bank balances

2,770,981

2,776,536

3,794,976

3,834,681

4,087,892

b.Other assets

1,945,781

1,696,950

1,741,349

1,730,075

1,942,049

1,954,615

1,695,844

1,784,949

2,019,803

2,015,462

2.Non-current liabilities

2.Non-current assets (a + b)
a.Fixed assets

750,108

631,224

643,969

677,553

561,620

b.Other assets

1,204,507

1,064,620

1,140,980

1,342,250

1,453,842

1.Revenue

1,656,131

1,661,192

1,886,101

1,963,110

2,490,744

2.Administrative and general expenses

1,416,706

1,157,100

1,486,355

1,711,264

2,084,773

114,884

426,736

386,327

266,193

436,323

91,581

281,093

254,462

152,745

245,948

271,240

217,240

268,019

273,555

286,005

D.Profit & loss account

3.Profit/(loss) before taxation


4.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend

N/A

N/A

N/A

N/A

N/A

3.Stock dividend/bonus shares

N/A

N/A

N/A

N/A

N/A

(3,407,508)

691,603

215,008

345,777

(87)

1.Return on equity (ROE) (D4/A)

1.83%

6.24%

4.60%

2.46%

3.69%

2.Return on capital employed (ROCE) (D3/C-B1)

2.06%

8.79%

6.58%

4.10%

6.33%

3.Return on assets (ROA) (D4/C)

1.37%

4.56%

3.48%

2.01%

3.06%

12.33

2.71

3.85

6.43

4.78

0.34

1.29

0.95

0.56

0.86

41.54%

45.01%

51.83%

50.56%

50.81%

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

4.29

3.40

3.81

5.13

5.21

24.40%

26.14%

24.43%

17.87%

16.50%

74.92%

73.04%

75.50%

81.77%

82.94%

18.43

20.74

20.62

22.67

23.33

-37.21

2.46

0.84

2.26

0.00

-3.10

0.53

0.15

0.32

0.00

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

156

Financial Statement Analysis of Financial Sector

AA Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

118,497

208,455

211,619

219,742

225,706

115,000

200,000

200,000

200,000

200,000

3,497

8,455

11,619

19,742

25,706

30,000

45,170

13,324

113,495

151,143

225,334

22,862

12,883

110,497

146,762

219,896

2.Non-current liabilities

22,308

441

2,998

4,381

5,438

C.Total assets (C1+C2)

193,667

221,779

325,114

370,885

451,040

1.Current assets(a + b)

150,341

160,080

229,909

276,113

352,724

138,070

151,615

171,084

206,215

197,817

12,271

8,465

58,825

69,898

154,907

43,326

61,699

95,205

94,772

98,316

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)
a.Fixed assets

6,292

4,442

33,090

31,881

33,695

b.Other assets

37,034

57,257

62,115

62,891

64,621

1.Revenue

22,607

52,020

95,228

111,056

147,691

2.Administrative and general expenses

20,722

43,362

87,977

96,843

133,508

3.Profit/(loss) before taxation

2,454

6,981

5,420

11,902

9,749

4.Profit/(loss) after taxation

1,296

4,957

3,164

8,123

5,964

1.No. of ordinary shares (000)

11,500

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

14,779

(1,468)

57,635

39,335

(539)

1.Return on equity (ROE) (D4/A)

1.09%

2.38%

1.50%

3.70%

2.64%

2.Return on capital employed (ROCE) (D3/C-B1)

1.44%

3.34%

2.53%

5.31%

4.22%

3.Return on assets (ROA) (D4/C)

0.67%

2.24%

0.97%

2.19%

1.32%

4.Admin. expense to profit before tax. (D2/D3) (times)

8.44

6.21

16.23

8.14

13.69

5.Earning per share (D4/E1)

0.11

0.25

0.16

0.41

0.30

71.29%

68.36%

52.62%

55.60%

43.86%

D.Profit & loss account

E.Other items

F.Efficiency ratios/profitability ratios

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

6.58

12.43

2.08

1.88

1.60

23.32%

6.01%

34.91%

40.75%

49.96%

61.19%

93.99%

65.09%

59.25%

50.04%

10.30

10.42

10.58

10.99

11.29

11.40

-0.30

18.22

4.84

-0.09

0.65

-0.11

0.52

0.27

0.00

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

157

Financial Statement Analysis of Financial Sector

Al-Hameed Int. Money Exchange (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

198,148

198,544

199,585

199,626

204,769

200,000

200,000

200,000

200,000

200,000

(415)

(374)

4,769

(1,852)

3.Accumulated profit (loss)

2012

(1,456)

4,826

4,584

4,355

4,137

3,930

28,396

33,916

23,193

19,969

30,557

26,900

31,944

21,834

18,514

25,458

1,496

1,972

1,359

1,455

5,099

C.Total assets (C1+C2)

231,370

237,044

227,133

223,732

239,256

1.Current assets(a + b)

52,105

59,597

61,746

64,846

161,909

a.Cash & bank balances

23,714

15,146

7,427

9,055

111,889

b.Other assets

28,391

44,451

54,319

55,791

50,020

179,265

177,447

165,387

158,886

77,347

a.Fixed assets

124,396

119,111

113,706

108,886

32,212

b.Other assets

54,869

58,336

51,681

50,000

45,135

11,094

8,158

5,520

7,556

9,266

7,877

9,522

8,895

10,206

7,562

(660)

630

243

(5,084)

(1,527)

1,049

154

812

(177)

(5,263)

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account


1.Revenue
2.Administrative and general expenses
3.Profit/(loss) before taxation
4.Profit/(loss) after taxation

E.Other items
200

200

200

200

200

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(19,602)

(7,477)

(7,477)

1,746

13,725

0.53%

0.08%

0.41%

-0.09%

-2.57%

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D4/A)

-0.32%

0.31%

0.12%

-2.48%

-0.71%

3.Return on assets (ROA) (D4/C)

0.45%

0.06%

0.36%

-0.08%

-2.20%

4.Admin. expense to profit before tax. (D2/D3) (times)

-11.93

15.11

36.60

-2.01

-4.95

5.25

0.77

4.06

-0.89

-26.32

10.25%

6.39%

3.27%

4.05%

46.77%

2.Return on capital employed (ROCE) (D3/C-B1)

5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

1.94

1.87

2.83

3.50

6.36

12.27%

14.31%

10.21%

8.93%

12.77%

1.Capital ratio (A/C)

85.64%

83.76%

87.87%

89.23%

85.59%

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

990.74

992.72

997.93

998.13

1,023.85

-18.69

-48.55

-9.21

-9.86

-2.61

-0.73

-0.23

-0.34

0.09

0.54

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

158

Financial Statement Analysis of Financial Sector

Al-Rahim Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

199,356

200,662

201,231

205,015

204,574

205,410

205,410

205,410

205,410

205,410

(6,054)

(4,748)

(395)

(836)

(4,179)

636

788

337

276

677

636

788

337

276

677

C.Total assets (C1+C2)

199,992

201,450

201,568

205,291

205,251

1.Current assets(a + b)

139,121

141,096

142,001

145,122

146,111

137,141

140,310

138,737

141,403

141,695

1,980

786

3,264

3,719

4,416

60,871

60,354

59,567

60,169

59,140

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)
a.Fixed assets

9,334

8,776

7,957

7,132

6,317

b.Other assets

51,537

51,578

51,610

53,037

52,823

1.Revenue

6,409

4,712

619

4,477

7,021

2.Administrative and general expenses

5,168

6,727

8,616

11,017

3.Profit/(loss) before taxation

1,241

1,306

664

2,481

(70)

4.Profit/(loss) after taxation

1,167

1,306

569

3,783

(441)

D.Profit & loss account


(8,068)

E.Other items
2,054

2,054

2,054

2,054

2,054

2.Cash dividend

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

7,610

4,053

786

2,898

788

1.Return on equity (ROE) (D4/A)

0.59%

0.65%

0.28%

1.85%

-0.22%

2.Return on capital employed (ROCE) (D3/C-B1)

0.62%

0.65%

0.33%

1.21%

-0.03%

3.Return on assets (ROA) (D4/C)

0.58%

0.65%

0.28%

1.84%

-0.21%

4.Admin. expense to profit before tax. (D2/D3) (times)

4.16

5.15

-12.15

3.47

-157.39

5.Earning per share (D4/E1)

0.57

0.64

0.28

1.84

-0.21

1.Cash & bank balances to total assets (C1a/C)

68.57%

69.65%

68.83%

68.88%

69.03%

2.Cuurent assets to current liabilities (C1/B1) (times)

218.74

179.06

421.37

525.80

215.82

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

0.32%

0.39%

0.17%

0.13%

0.33%

99.68%

99.61%

99.83%

99.87%

99.67%

97.06

97.69

97.97

99.81

99.59

6.52

3.10

1.38

0.77

-1.79

11.97

5.14

2.33

10.50

1.16

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

G.Liquidity ratios

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

159

Financial Statement Analysis of Financial Sector

Al-Sahara Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

195,212

193,335

195,581

211,852

200,000

200,000

200,000

200,000

(4,788)

3.Accumulated profit (loss)

2012

(6,665)

(4,419)

0
11,852

6,069

31,814

41,601

38,161

6,069

31,814

41,601

38,161

C.Total assets (C1+C2)

201,281

225,149

237,182

250,013

1.Current assets(a + b)

147,208

172,779

181,454

195,763

137,428

151,940

175,204

184,826

9,780

20,839

6,250

10,937

54,073

52,370

55,728

54,250

a.Fixed assets

3,920

2,197

5,180

4,214

b.Other assets

50,153

50,173

50,548

50,036

1.Revenue

39,058

2,594

55,727

2.Administrative and general expenses

39,269

2,410

5,548

48,951

3.Profit/(loss) before taxation

3,797

4,152

3,455

12,867

4.Profit/(loss) after taxation

2,468

2,699

2,245

16,271

1.No. of ordinary shares (000)

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

4,376

11,478

(943)

1.Return on equity (ROE) (D4/A)

1.26%

1.40%

1.15%

7.68%

2.Return on capital employed (ROCE) (D3/C-B1)

1.95%

2.15%

1.77%

6.07%

3.Return on assets (ROA) (D4/C)

1.23%

1.20%

0.95%

6.51%

10.34

0.58

1.61

3.80

0.12

0.13

0.11

0.81

68.28%

67.48%

73.87%

73.93%

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

24.26

5.43

4.36

5.13

3.02%

14.13%

17.54%

15.26%

96.98%

85.87%

82.46%

84.74%

9.76

9.67

9.78

10.59

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

1.77

0.00

5.11

-0.06

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.72

0.00

0.28

-0.02

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

160

Financial Statement Analysis of Financial Sector

D. D Exchange Co. (Pvt) Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

99,179

94,580

105,268

1.Share capital

100,000

100,000

105,500

2.Reserves

3.Accumulated profit (loss)

(821)

4.Others

1,691

574

2,464

1.Current liabilities

1,691

574

2,464

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 to B2)

(5,420)

0
(232)

2.Non-current liabilities

C.Total assets (C1+C2)

100,870

95,154

107,732

1.Current assets(a + b)

99,672

64,947

72,926

a.Cash & bank balances

99,306

64,457

72,068

b.Other assets

366

490

858

30,207

34,806

1,198

a.Fixed assets

464

4,535

6,124

b.Other assets

734

25,672

28,682

1.Revenue

1,681

19,322

2.Administrative and general expenses

821

5,798

12,048

(4,582)

3,426

(4,599)

5,188

2.Non-current assets (a + b)

D.Profit & loss account

3.Profit/(loss) before taxation

(821)

4.Profit/(loss) after taxation

(821)

1.No. of ordinary shares (000)

10,000

10,000

10,550

2.Cash dividend

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

4.Cash generated from operating activities

586

(4,893)

5,715

1.Return on equity (ROE) (D4/A)

-0.83%

-4.86%

4.93%

2.Return on capital employed (ROCE) (D3/C-B1)

-0.83%

-4.84%

3.25%

3.Return on assets (ROA) (D4/C)

-0.81%

-4.83%

4.82%

4.Admin. expense to profit before tax. (D2/D3) (times)

-1.00

-1.27

3.52

5.Earning per share (D4/E1)

-0.08

-0.46

0.49

1.Cash & bank balances to total assets (C1a/C)

98.45%

67.74%

66.90%

2.Cuurent assets to current liabilities (C1/B1) (times)

58.94

113.15

29.60

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

1.68%

0.60%

2.29%

1.Capital ratio (A/C)

98.32%

99.40%

97.71%

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

9.92

9.46

9.98

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

-0.71

1.06

1.10

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.35

-8.52

2.32

E.Other items

F.Efficiency ratios/profitability ratios

G.Liquidity ratios

H.Capital /leverage ratios

I.Cash flow ratios

161

Financial Statement Analysis of Financial Sector

Dollar East Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

163,875

169,434

283,984

297,658

400,019

200,000

200,000

300,000

300,000

400,000

(36,125)

(30,566)

(16,016)

(2,342)
0

0
19

1,700

71,030

217,859

204,869

(1,780)

20,385

71,030

216,159

202,182

(3,967)

18,398

1,700

2,687

2,187

1,987

C.Total assets (C1+C2)

236,605

387,293

488,853

295,878

420,404

1.Current assets(a + b)

145,795

294,820

362,796

156,186

255,607

2.Non-current liabilities

44,214

26,990

42,822

61,663

68,577

101,581

267,830

319,974

94,523

187,030

90,810

92,473

126,057

139,692

164,797

a.Fixed assets

26,886

28,715

36,196

50,402

52,270

b.Other assets

63,924

63,758

89,861

89,290

112,527

1.Revenue

82,406

105,399

117,167

143,169

187,954

2.Administrative and general expenses

84,248

104,130

111,744

138,444

171,966

478

8,713

11,991

15,105

26,302

66

5,558

14,551

13,674

2,361

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

3.Profit/(loss) before taxation


4.Profit/(loss) after taxation

E.Other items
2,000

2,000

3,000

3,000

4,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(30,930)

(8,068)

(41,700)

42,723

(56,916)

1.Return on equity (ROE) (D4/A)

0.04%

3.28%

5.12%

4.59%

0.59%

2.Return on capital employed (ROCE) (D3/C-B1)

0.29%

5.09%

4.18%

6.54%

3.Return on assets (ROA) (D4/C)

0.03%

1.44%

2.98%

4.62%

0.56%

4.Admin. expense to profit before tax. (D2/D3) (times)

176.25

11.95

9.32

9.17

6.54

0.03

2.78

4.85

4.56

0.59

18.69%

6.97%

8.76%

20.84%

16.31%

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

2.05

1.36

1.79

-39.37

13.89

30.02%

56.25%

41.91%

-0.60%

4.85%

69.26%

43.75%

58.09%

100.60%

95.15%

81.94

84.72

94.66

99.22

100.00

-468.64

-1.45

-2.87

3.12

-24.11

-0.44

-0.04

-0.21

-10.77

-3.09

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

162

Financial Statement Analysis of Financial Sector

Fairdeal Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

192,846

205,248

206,933

196,669

181,511

200,000

200,000

200,000

200,000

200,000

5,248

6,933

(7,154)

3.Accumulated profit (loss)

2012

(3,331)

0
(18,489)

14,069

12,343

25,515

4,467

5,365

14,069

10,343

23,515

1,467

1,365

2,000

2,000

3,000

4,000

C.Total assets (C1+C2)

206,915

217,591

232,448

201,136

186,876

1.Current assets(a + b)

137,702

143,503

167,485

134,683

121,554

120,512

135,273

156,376

67,965

83,178

17,190

8,230

11,109

66,718

38,376

69,213

74,088

64,963

66,453

65,322

a.Fixed assets

13,543

12,592

13,032

14,457

12,549

b.Other assets

55,670

61,496

51,931

51,996

52,773

1.Revenue

21,590

33,191

27,373

17,258

11,701

2.Administrative and general expenses

17,253

19,658

24,845

25,525

24,144

3.Profit/(loss) before taxation

(3,263)

13,515

2,526

(10,059)

(12,442)

4.Profit/(loss) after taxation

(3,277)

12,402

1,685

(10,264)

(15,158)

1.No. of ordinary shares (000)

20,000

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(1,920)

19,983

13,602

(85,084)

16,193

1.Return on equity (ROE) (D4/A)

-1.70%

6.04%

0.81%

-5.22%

-8.35%

2.Return on capital employed (ROCE) (D3/C-B1)

-1.69%

6.52%

1.21%

-5.04%

-6.71%

3.Return on assets (ROA) (D4/C)

-1.58%

5.70%

0.72%

-5.10%

-8.11%

4.Admin. expense to profit before tax. (D2/D3) (times)

-5.29

1.45

9.84

-2.54

-1.94

5.Earning per share (D4/E1)

-0.16

0.62

0.08

-0.51

-0.76

58.24%

62.17%

67.27%

33.79%

44.51%

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

E.Other items

F.Efficiency ratios/profitability ratios

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

9.79

13.87

7.12

91.81

89.05

6.80%

5.67%

10.98%

2.22%

2.87%

93.20%

94.33%

89.02%

97.78%

97.13%

9.64

10.26

10.35

9.83

9.08

0.59

1.61

8.07

8.29

-1.07

-0.14

1.93

0.58

-58.00

11.86

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

163

Financial Statement Analysis of Financial Sector

Glaxy Exchange (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

202,979

209,851

209,279

210,811

227,085

210,000

210,000

210,000

210,000

210,000

(149)

(721)

811

17,085

(7,021)

3.Accumulated profit (loss)

2012

729

642

837

813

2,792

729

642

837

813

2,792

C.Total assets (C1+C2)

203,708

210,493

210,116

211,624

229,877

1.Current assets(a + b)

93,737

92,083

103,153

106,807

173,898

a.Cash & bank balances

76,157

85,878

100,076

101,810

156,230

b.Other assets

17,580

6,205

3,077

4,997

17,668

109,971

118,410

106,963

104,817

55,979

a.Fixed assets

59,971

57,110

54,363

52,217

3,379

b.Other assets

50,000

61,300

52,600

52,600

52,600

1.Revenue

33,618

44,343

40,501

44,163

62,772

2.Administrative and general expenses

32,500

38,123

40,899

42,166

44,394

3.Profit/(loss) before taxation

1,118

6,220

(398)

1,997

18,378

4.Profit/(loss) after taxation

1,118

6,220

(572)

1,532

16,274

1.No. of ordinary shares (000)

21,000

21,000

21,000

21,000

21,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

1,971

6,714

6,058

2,746

(4,875)

1.Return on equity (ROE) (D4/A)

0.55%

2.96%

-0.27%

0.73%

7.17%

2.Return on capital employed (ROCE) (D3/C-B1)

0.55%

2.96%

-0.19%

0.95%

8.09%

3.Return on assets (ROA) (D4/C)

0.55%

2.95%

-0.27%

0.72%

7.08%

29.07

6.13

-102.76

21.11

2.42

0.05

0.30

-0.03

0.07

0.77

1.Cash & bank balances to total assets (C1a/C)

37.39%

40.80%

47.63%

48.11%

67.96%

2.Cuurent assets to current liabilities (C1/B1) (times)

128.58

143.43

123.24

131.37

62.28

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

0.36%

0.30%

0.40%

0.38%

1.21%

99.64%

99.70%

99.60%

99.62%

98.79%

9.67

9.99

9.97

10.04

10.81

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

1.76

1.08

-10.59

1.79

-0.30

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

2.70

10.46

7.24

3.38

-1.75

164

Financial Statement Analysis of Financial Sector

H & H Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

279,854

335,913

365,636

386,019

436,017

300,000

300,000

300,000

300,000

400,000

25,000

45,000

65,000

10,900

(20,146)

10,913

20,636

21,019

25,117

51,800

59,200

71,245

17,124

59,913

51,800

57,836

69,931

16,048

58,352

1,364

1,314

1,076

1,561

C.Total assets (C1+C2)

331,654

395,113

436,881

403,143

495,930

1.Current assets(a + b)

199,005

301,105

342,427

309,252

377,472

117,435

280,431

322,275

292,911

338,515

81,570

20,674

20,152

16,341

38,957

132,649

94,008

94,454

93,891

118,458

a.Fixed assets

11,382

10,598

12,016

12,425

12,878

b.Other assets

121,267

83,410

82,438

81,466

105,580

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account


1.Revenue
2.Administrative and general expenses
3.Profit/(loss) before taxation
4.Profit/(loss) after taxation

89,719

155,128

114,683

101,574

110,006

186,804

49,596

57,370

55,800

61,725

(105,384)

95,083

44,959

33,145

40,032

(68,948)

56,059

29,723

20,382

24,999

E.Other items
300

300

300

300

400

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(182,589)

164,232

45,787

(26,630)

41,553

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D4/A)

-24.64%

16.69%

8.13%

5.28%

5.73%

2.Return on capital employed (ROCE) (D3/C-B1)

-37.66%

28.19%

12.25%

8.56%

9.15%

3.Return on assets (ROA) (D4/C)

-20.79%

14.19%

6.80%

5.06%

5.04%

-1.77

0.52

1.28

1.68

1.54

-229.83

186.86

99.08

67.94

62.50

35.41%

70.97%

73.77%

72.66%

68.26%

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

3.84

5.21

4.90

19.27

6.47

15.62%

14.98%

16.31%

4.25%

12.08%

H.Capital /leverage ratios


1.Capital ratio (A/C)

84.38%

85.02%

83.69%

95.75%

87.92%

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

932.85

1,119.71

1,218.79

1,286.73

1,090.04

2.65

2.93

1.54

-1.31

1.66

-3.52

2.84

0.65

-1.66

0.71

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

165

Financial Statement Analysis of Financial Sector

HBL Currency Exchange (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

(Thousand Rupees)
2011
2012

2008

2009

2010

209,247

259,990

493,422

535,043

559,779

214,865

214,865

400,000

400,000

400,000

45,125

93,422

135,043

159,779

(5,618)

3.Accumulated profit (loss)

2012

(274)

21,588

10,447

10,603

10,728

7,915

21,588

10,200

10,079

9,588

7,735

247

524

1,140

180

C.Total assets (C1+C2)

230,561

270,437

504,025

545,771

567,694

1.Current assets(a + b)

221,829

210,745

388,042

425,978

451,583
385,617

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

91,113

202,769

310,952

364,116

130,716

7,976

77,090

61,862

65,966

8,732

59,692

115,983

119,793

116,111

a.Fixed assets

5,347

4,781

10,369

14,151

11,451

b.Other assets

3,385

54,911

105,614

105,642

104,660

1.Revenue

35,358

115,692

127,153

131,400

112,886

2.Administrative and general expenses

28,912

37,613

52,849

65,781

74,672

3.Profit/(loss) before taxation

6,322

78,065

74,304

65,618

38,214

4.Profit/(loss) after taxation

9,012

50,742

48,298

41,621

24,735

1.No. of ordinary shares (000)

21,486

21,486

40,000

40,000

40,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

16,196

42,766

(19,391)

59,817

23,951

D.Profit & loss account

E.Other items

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D4/A)

4.31%

19.52%

9.79%

7.78%

4.42%

2.Return on capital employed (ROCE) (D3/C-B1)

3.03%

30.00%

15.04%

12.24%

6.82%

3.Return on assets (ROA) (D4/C)

3.91%

18.76%

9.58%

7.63%

4.36%

4.Admin. expense to profit before tax. (D2/D3) (times)

4.57

0.48

0.71

1.00

1.95

5.Earning per share (D4/E1)

0.42

2.36

1.21

1.04

0.62

39.52%

74.98%

61.69%

66.72%

67.93%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

10.28

20.66

38.50

44.43

58.38

9.36%

3.86%

2.10%

1.97%

1.39%

90.76%

96.14%

97.90%

98.03%

98.61%

9.74

12.10

12.34

13.38

13.99

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

1.80

0.84

-0.40

1.44

0.97

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.75

4.19

-1.92

6.24

3.10

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

166

Financial Statement Analysis of Financial Sector

Habib Qatar International Exchange Pakistan (Pvt.) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

245,622

320,288

375,658

376,192

364,860

200,000

200,000

200,000

200,000

200,000

45,622

120,288

175,658

176,192

164,860

29,063

24,732

34,209

66,654

83,205

26,137

20,177

27,325

59,657

74,710

2,926

4,555

6,884

6,997

8,495

C.Total assets (C1+C2)

274,685

345,020

409,867

442,846

448,065

1.Current assets(a + b)

236,204

275,737

328,491

362,070

367,281

146,386

122,657

166,030

201,968

197,337

89,818

153,080

162,461

160,102

169,944

38,481

69,283

81,376

80,776

80,784

a.Fixed assets

13,073

18,915

31,173

30,037

29,371

b.Other assets

25,408

50,368

50,203

50,739

51,413

1.Revenue

54,473

142,553

189,170

173,700

220,445

2.Administrative and general expenses

27,904

58,743

99,654

128,095

171,328

3.Profit/(loss) before taxation

26,569

83,810

89,516

47,087

49,125

4.Profit/(loss) after taxation

24,608

74,666

70,370

24,844

10,669

1.No. of ordinary shares (000)

20,000

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(3,419,457)

(17,330)

70,204

60,330

20,533

1.Return on equity (ROE) (D4/A)

10.02%

23.31%

18.73%

6.60%

2.92%

2.Return on capital employed (ROCE) (D3/C-B1)

10.69%

25.80%

23.40%

12.29%

13.16%

8.96%

21.64%

17.17%

5.61%

2.38%

4.Admin. expense to profit before tax. (D2/D3) (times)

1.05

0.70

1.11

2.72

3.49

5.Earning per share (D4/E1)

1.23

3.73

3.52

1.24

0.53

53.29%

35.55%

40.51%

45.61%

44.04%

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Return on assets (ROA) (D4/C)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

9.04

13.67

12.02

6.07

4.92

10.58%

7.17%

8.35%

15.05%

18.57%

89.42%

92.83%

91.65%

84.95%

81.43%

12.28

16.01

18.78

18.81

18.24

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

-138.96

-0.23

1.00

2.43

1.92

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-130.83

-0.86

2.57

1.01

0.27

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

167

Financial Statement Analysis of Financial Sector

Money Link Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

209,424

218,458

213,883

215,292

336,076

200,000

200,000

200,000

200,000

300,000

9,424

18,458

13,883

15,292

36,076

23,533

96,178

25,959

64,009

1,252

22,233

94,878

25,959

64,009

1,252

1,300

1,300

C.Total assets (C1+C2)

232,957

314,636

239,842

279,301

337,328

1.Current assets(a + b)

134,402

216,527

178,781

220,281

249,236

121,344

201,144

154,013

194,376

220,301

13,058

15,383

24,768

25,905

28,935

98,555

98,109

61,061

59,020

88,092

a.Fixed assets

46,466

45,253

8,369

7,802

12,244

b.Other assets

52,089

52,856

52,692

51,218

75,848

1.Revenue

24,851

44,202

33,925

39,974

57,563

2.Administrative and general expenses

22,528

37,568

39,245

45,855

44,192

3.Profit/(loss) before taxation

4,709

9,955

(3,781)

803

20,871

4.Profit/(loss) after taxation

3,774

9,137

(4,574)

803

20,871

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

E.Other items
200

200

200

200

300

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

17,271

83,304

(79,639)

40,661

(68,721)

1.Return on equity (ROE) (D4/A)

1.80%

4.18%

-2.14%

0.37%

6.21%

2.Return on capital employed (ROCE) (D3/C-B1)

2.23%

4.53%

-1.77%

0.37%

6.21%

3.Return on assets (ROA) (D4/C)

1.62%

2.90%

-1.91%

0.29%

6.19%

4.78

3.77

-10.38

57.10

2.12

18.87

45.69

-22.87

4.02

69.57

52.09%

63.93%

69.59%

65.31%

1.No. of ordinary shares (000)

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

64.21%

6.05

2.28

6.89

3.44

199.07

10.10%

30.57%

10.82%

22.92%

0.37%

H.Capital /leverage ratios


89.90%

69.43%

89.18%

77.08%

99.63%

1,047.12

1,092.29

1,069.42

1,076.46

1,120.25

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

4.58

9.12

17.41

50.64

-3.29

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.78

0.88

-3.07

0.64

-54.89

1.Capital ratio (A/C)


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

I.Cash flow ratios

168

Financial Statement Analysis of Financial Sector

NBP Exchange Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

362,892

512,490

534,596

555,244

594,176

300,000

300,000

300,000

300,000

405,000

151,875

62,892

212,490

234,596

255,244

37,301

22,218

40,091

513,525

379,283

301,841

229,327

152,337

62,877

117,123

107,117

109,200

114,094

2.Non-current liabilities

450,648

262,160

194,724

120,127

38,243

C.Total assets (C1+C2)

876,417

891,773

836,437

806,789

786,604

1.Current assets(a + b)

775,273

793,626

822,751

794,898

771,885

a.Cash & bank balances

189,773

190,379

215,117

62,407

166,553

b.Other assets

585,500

603,247

607,634

732,491

605,332

101,144

98,147

13,686

11,891

14,719

a.Fixed assets

9,331

11,278

12,229

10,552

12,674

b.Other assets

91,813

86,869

1,457

1,339

2,045

2.Non-current assets (a + b)

D.Profit & loss account


100,454

125,569

126,338

126,533

148,003

2.Administrative and general expenses

28,743

32,055

43,057

53,650

59,986

3.Profit/(loss) before taxation

71,712

56,221

50,296

43,703

64,947

4.Profit/(loss) after taxation

46,497

24,320

22,106

20,648

38,932

1.No. of ordinary shares (000)

30,000

30,000

30,000

30,000

40,500

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

16,024

16,024

(27,420)

14,104

38,619

12.81%

4.75%

4.14%

3.72%

6.55%

2.Return on capital employed (ROCE) (D3/C-B1)

8.81%

7.26%

6.90%

6.26%

9.66%

3.Return on assets (ROA) (D4/C)

5.31%

2.73%

2.64%

2.56%

4.95%

4.Admin. expense to profit before tax. (D2/D3) (times)

0.40

0.57

0.86

1.23

0.92

5.Earning per share (D4/E1)

1.55

0.81

0.74

0.69

0.96

21.65%

21.35%

25.72%

7.74%

21.17%

1.Revenue

E.Other items

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D4/A)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

12.33

6.78

7.68

7.28

6.77

58.59%

42.53%

36.09%

28.42%

19.37%

41.41%

57.47%

63.91%

68.82%

75.54%

12.10

17.08

17.82

18.51

14.67

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

0.34

0.66

-1.24

0.68

0.99

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.25

0.14

-0.26

0.13

0.34

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

169

Financial Statement Analysis of Financial Sector

Noble Exchange International Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

199,996

203,284

189,823

180,614

185,970

200,000

200,000

200,000

200,000

200,000

(4)

3,284

(10,177)

(19,386)

(14,030)

1,500

1,200

1,000

1,200

1,200

1,966

18,046

1,133

1,435

3,308

1,966

18,046

1,133

1,435

3,308

C.Total assets (C1+C2)

203,462

222,530

191,956

183,249

190,478

1.Current assets(a + b)

138,891

155,110

127,032

120,820

127,822

a.Cash & bank balances

92,089

122,081

125,297

109,905

98,203

b.Other assets

46,802

33,029

1,735

10,915

29,619

64,571

67,420

64,924

62,429

62,656

a.Fixed assets

13,479

12,528

12,487

11,525

11,196

b.Other assets

51,092

54,892

52,437

50,904

51,460

1.Revenue

32,859

20,472

3,329

6,484

19,021

2.Administrative and general expenses

32,679

21,024

21,438

19,548

20,052

3.Profit/(loss) before taxation

342

5,682

(13,445)

(9,137)

5,331

4.Profit/(loss) after taxation

178

3,289

(13,461)

(9,209)

5,356

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account

E.Other items
1.No. of ordinary shares (000)

20,000

2,000

2,000

2,000

2,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(23,061)

30,665

4,326

(17,108)

(12,427)

1.Return on equity (ROE) (D4/A)

0.09%

1.62%

-7.09%

-5.10%

2.88%

2.Return on capital employed (ROCE) (D3/C-B1)

0.17%

2.78%

-7.05%

-5.03%

2.85%

3.Return on assets (ROA) (D4/C)

0.09%

1.48%

-7.01%

-5.03%

2.81%

95.55

3.70

-1.59

-2.14

3.76

0.01

1.64

-6.73

-4.60

2.68

45.26%

54.86%

65.27%

59.98%

51.56%

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)
3.Total liabilities to total assets (B/C)

70.65

8.60

112.12

84.20

38.64

0.97%

8.11%

0.59%

0.78%

1.74%

98.30%

91.35%

98.89%

98.56%

97.63%

10.00

101.64

94.91

90.31

92.99

-129.56

9.32

-0.32

1.86

-2.32

-11.73

1.70

3.82

-11.92

-3.76

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

170

Financial Statement Analysis of Financial Sector

P B S Exchange (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

144,817

146,379

148,337

205,743

208,581

200,000

200,000

200,000

250,000

250,000

(55,183)

(53,621)

(51,663)

(44,257)

(41,419)

45,183

41,556

1,668

89,961

36,957

3,312

573

1,668

6,635

3,630

2,480

2.Non-current liabilities

40,983

83,326

33,327

832

C.Total assets (C1+C2)

186,373

193,230

238,298

242,700

211,893

1.Current assets(a + b)

62,845

68,134

113,546

115,773

72,605

60,358

65,207

110,603

77,890

34,793

2,487

2,927

2,943

37,883

37,812

123,528

125,096

124,752

126,927

139,288

a.Fixed assets

66,128

69,148

68,028

67,279

65,653

b.Other assets

57,400

55,948

56,724

59,648

73,635

1.Revenue

39,394

45,667

58,399

75,339

79,174

2.Administrative and general expenses

41,413

49,410

61,190

72,570

79,745

3.Profit/(loss) before taxation

644

2,403

3,012

8,214

4,723

4.Profit/(loss) after taxation

434

1,562

1,958

7,406

2,837

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

E.Other items
2,000

2,000

2,000

2,500

2,500

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

1.Return on equity (ROE) (D4/A)

0.30%

1.07%

1.32%

3.60%

1.36%

2.Return on capital employed (ROCE) (D3/C-B1)

0.35%

1.25%

1.30%

3.44%

2.26%

3.Return on assets (ROA) (D4/C)

0.23%

0.81%

0.82%

3.05%

1.34%

64.31

20.56

20.32

8.83

16.88

0.22

0.78

0.98

2.96

1.13

32.39%

33.75%

46.41%

32.09%

16.42%

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)
2.Cuurent assets to current liabilities (C1/B1) (times)

109.68

40.85

17.11

31.89

29.28

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

22.30%

0.86%

37.75%

15.23%

1.56%

77.70%

75.75%

62.25%

84.77%

98.44%

72.41

73.19

74.17

82.30

83.43

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

0.00

0.00

0.00

0.00

0.00

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

0.00

0.00

0.00

0.00

0.00

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

171

Financial Statement Analysis of Financial Sector

Pakistan Currency Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

204,406

208,093

320,971

413,441

427,324

200,000

200,000

300,000

400,000

400,000

4,406

8,093

20,971

13,441

27,324

18,540

400,075

312,275

273,121

279,347

9,904

382,915

286,579

237,727

244,998

8,636

17,160

25,696

35,394

34,349

C.Total assets (C1+C2)

222,946

608,168

633,246

686,562

706,671

1.Current assets(a + b)

152,503

523,598

544,550

556,912

545,519

a.Cash & bank balances

90,404

267,979

435,977

459,776

380,689

b.Other assets

62,099

255,619

108,573

97,136

164,830

70,443

84,570

88,696

129,650

161,152

a.Fixed assets

17,770

32,491

36,037

46,550

53,650

b.Other assets

52,673

52,079

52,659

83,100

107,502

1.Revenue

221,403

353,552

416,252

430,936

558,604

2.Administrative and general expenses

209,767

310,405

400,090

436,796

544,856

3.Profit/(loss) before taxation

8,313

9,972

19,364

1,413

19,757

4.Profit/(loss) after taxation

5,539

3,687

12,877

(7,529)

13,883

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account

E.Other items
2,000

2,000

2,000

4,000

4,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(6,268)

19,425

167,546

75,877

(38,242)

1.Return on equity (ROE) (D4/A)

2.71%

1.77%

4.01%

-1.82%

3.25%

2.Return on capital employed (ROCE) (D3/C-B1)

3.90%

4.43%

5.59%

0.31%

4.28%

3.Return on assets (ROA) (D4/C)

2.48%

0.61%

2.03%

-1.10%

1.96%

25.23

31.13

20.66

309.13

27.58

2.77

1.84

6.44

-1.88

3.47

40.55%

44.06%

68.85%

66.97%

53.87%

1.No. of ordinary shares (000)

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

15.40

1.37

1.90

2.34

2.23

8.32%

65.78%

49.31%

39.78%

39.53%

1.Capital ratio (A/C)

91.68%

34.22%

50.69%

60.22%

60.47%

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

102.20

104.05

160.49

103.36

106.83

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

-1.13

5.27

13.01

-10.08

-2.75

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.63

0.05

0.58

0.32

-0.16

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios

I.Cash flow ratios

172

Financial Statement Analysis of Financial Sector

Paracha International Exchange (Pvt.) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

189,819

187,019

197,298

197,992

226,747

200,000

200,000

200,000

200,000

200,000

(10,181)

(12,981)

(2,702)

(2,008)

0
26,747

11,423

75,119

53,026

91,615

64,339

11,423

75,119

53,026

49,251

16,119

42,364

48,220

C.Total assets (C1+C2)

201,242

262,138

250,324

289,607

291,086

1.Current assets(a + b)

114,215

182,878

125,537

168,440

180,010

a.Cash & bank balances

35,749

106,747

103,117

130,454

112,660

b.Other assets

78,466

76,131

22,420

37,986

67,350

87,027

79,260

124,787

121,167

111,076

a.Fixed assets

80,936

75,786

68,043

61,435

55,563

b.Other assets

6,091

3,474

56,744

59,732

55,513

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account


33,784

35,797

36,391

31,454

85,255

(11,128)

36,097

27,097

33,807

45,017

3.Profit/(loss) before taxation

22,656

(299)

9,294

(2,352)

40,239

4.Profit/(loss) after taxation

27,486

(2,800)

10,279

694

28,755

1.No. of ordinary shares (000)

20,000

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

12,327

74,696

(2,737)

28,793

(19,497)

1.Return on equity (ROE) (D4/A)

14.48%

-1.50%

5.21%

0.35%

12.68%

2.Return on capital employed (ROCE) (D3/C-B1)

11.94%

-0.16%

4.71%

-0.98%

14.63%

3.Return on assets (ROA) (D4/C)

13.66%

-1.07%

4.11%

0.24%

9.88%

-0.49

-120.73

2.92

-14.37

1.12

1.37

-0.14

0.51

0.03

1.44

17.76%

40.72%

41.19%

45.05%

38.70%

1.Revenue
2.Administrative and general expenses

E.Other items

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

10.00

2.43

2.37

3.42

11.17

5.68%

28.66%

21.18%

31.63%

22.10%

94.32%

71.34%

78.82%

68.37%

77.90%

9.49

9.35

9.86

9.90

11.34

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

0.45

-26.68

-0.27

41.49

-0.68

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

1.08

0.99

-0.05

0.58

-1.21

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

173

Financial Statement Analysis of Financial Sector

Paragon Exchange (Pvt) Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

92,707

84,354

1.Share capital

100,000

100,000

2.Reserves

3.Accumulated profit (loss)

4.Others

1,111

1,559

1.Current liabilities

1,111

1,098

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 to B2)

(7,293)

0
(15,646)

2.Non-current liabilities

461

C.Total assets (C1+C2)

93,818

85,913

1.Current assets(a + b)

55,884

51,789

a.Cash & bank balances

54,897

50,425

b.Other assets

987

1,364

37,934

34,124

a.Fixed assets

7,760

7,047

b.Other assets

30,174

27,077

1.Revenue

47

15,013

2.Administrative and general expenses

11,237

19,289
(3,845)
(8,353)

2.Non-current assets (a + b)

D.Profit & loss account

3.Profit/(loss) before taxation

(11,190)

4.Profit/(loss) after taxation

(7,293)

1.No. of ordinary shares (000)

100

100

2.Cash dividend

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

4.Cash generated from operating activities

(10,776)

(2,565)

1.Return on equity (ROE) (D4/A)

-7.87%

-9.90%

2.Return on capital employed (ROCE) (D3/C-B1)

-12.07%

-4.53%

3.Return on assets (ROA) (D4/C)

-7.77%

-9.72%

4.Admin. expense to profit before tax. (D2/D3) (times)

-1.00

-5.02

5.Earning per share (D4/E1)

-72.93

-83.53

1.Cash & bank balances to total assets (C1a/C)

58.51%

58.69%

2.Cuurent assets to current liabilities (C1/B1) (times)

50.30

47.17

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

1.18%

1.81%

1.Capital ratio (A/C)

98.82%

98.19%

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

927.07

843.54

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

1.48

0.31

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-9.70

-2.34

E.Other items

F.Efficiency ratios/profitability ratios

G.Liquidity ratios

H.Capital /leverage ratios

I.Cash flow ratios

174

Financial Statement Analysis of Financial Sector

Ravi Exchange Co. (Pvt.) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

200,059

205,138

224,521

435,700

447,734

200,000

200,000

200,000

400,000

400,000

59

5,138

24,521

35,700

47,734

4,756

39,284

227,518

34,199

91,906

4,756

36,913

215,543

21,540

79,165

2,371

11,975

12,659

12,741

C.Total assets (C1+C2)

204,815

244,422

452,039

469,899

539,640

1.Current assets(a + b)

94,900

120,444

321,517

273,496

346,122

a.Cash & bank balances

55,329

109,950

251,747

216,850

256,495

b.Other assets

39,571

10,494

69,770

56,646

89,627

109,915

123,978

130,522

196,403

193,518

a.Fixed assets

66,313

70,035

72,472

79,925

79,020

b.Other assets

43,602

53,943

58,050

116,478

114,498

1.Revenue

20,932

53,807

116,287

120,631

150,315

2.Administrative and general expenses

24,102

49,901

96,420

114,723

146,321

1,313

7,678

30,968

14,549

17,924

911

5,079

19,383

11,179

12,034

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account

3.Profit/(loss) before taxation


4.Profit/(loss) after taxation

E.Other items
2,000

2,000

2,000

4,000

4,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(22,255)

71,664

(50,289)

29,703

43,676

1.Return on equity (ROE) (D4/A)

0.46%

2.48%

8.63%

2.57%

2.69%

2.Return on capital employed (ROCE) (D3/C-B1)

0.66%

3.70%

13.09%

3.24%

3.89%

3.Return on assets (ROA) (D4/C)

0.44%

2.08%

4.29%

2.38%

2.23%

18.36

6.50

3.11

7.89

8.16

0.46

2.54

9.69

2.79

3.01

27.01%

44.98%

55.69%

46.15%

47.53%

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

4.Admin. expense to profit before tax. (D2/D3) (times)


5.Earning per share (D4/E1)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

19.95

3.26

1.49

12.70

4.37

2.32%

16.07%

50.33%

7.28%

17.03%

1.Capital ratio (A/C)

97.68%

83.93%

49.67%

92.72%

82.97%

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

100.03

102.57

112.26

108.93

111.93

-24.43

14.11

-2.59

2.66

3.63

-4.68

1.94

-0.23

1.38

0.55

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

175

Financial Statement Analysis of Financial Sector

Riaz Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

210,320

209,160

202,031

208,955

207,906

200,000

200,000

200,000

200,000

200,000

10,320

9,160

2,031

8,955

7,906

2,196

1,445

676

582

763

1,326

1,130

416

464

763

870

315

260

118

C.Total assets (C1+C2)

212,516

210,605

202,707

209,537

208,669

1.Current assets(a + b)

154,051

157,178

147,312

155,287

155,428

139,625

150,026

142,343

151,779

152,748

14,426

7,152

4,969

3,508

2,680

58,465

53,427

55,395

54,250

53,241

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)
a.Fixed assets

4,294

3,160

3,679

3,947

2,841

b.Other assets

54,171

50,267

51,716

50,303

50,400

1.Revenue

28,849

40,808

22,948

16,148

18,145

2.Administrative and general expenses

11,630

11,407

11,833

11,597

11,777

3.Profit/(loss) before taxation

19,236

29,003

13,643

10,795

13,935

4.Profit/(loss) after taxation

12,341

18,841

8,870

6,924

8,951

1.No. of ordinary shares (000)

20,000

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(402)

22,483

4,979

4,005

4,276

1.Return on equity (ROE) (D4/A)

5.87%

9.01%

4.39%

3.31%

4.31%

2.Return on capital employed (ROCE) (D3/C-B1)

9.11%

13.85%

6.74%

5.16%

6.70%

3.Return on assets (ROA) (D4/C)

5.81%

8.95%

4.38%

3.30%

4.29%

4.Admin. expense to profit before tax. (D2/D3) (times)

0.60

0.39

0.87

1.07

0.85

5.Earning per share (D4/E1)

0.62

0.94

0.44

0.35

0.45

1.Cash & bank balances to total assets (C1a/C)

65.70%

71.24%

70.22%

72.44%

73.20%

2.Cuurent assets to current liabilities (C1/B1) (times)

116.18

139.10

354.12

334.67

203.71

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

1.03%

0.69%

0.33%

0.28%

0.37%

98.97%

99.31%

99.67%

99.72%

99.63%

10.52

10.46

10.10

10.45

10.40

D.Profit & loss account

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

G.Liquidity ratios

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

-0.03

1.19

0.56

0.58

0.48

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.30

19.90

11.97

8.63

5.60

176

Financial Statement Analysis of Financial Sector

Royal International Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

181,454

169,087

264,895

269,262

281,003

200,000

200,000

300,000

300,000

300,000

(18,546)

(30,913)

(35,105)

(30,738)

(18,997)

844

2,350

10,974

11,923

17,772

844

2,350

10,405

5,715

9,479

569

6,208

8,293

C.Total assets (C1+C2)

182,298

171,437

275,869

281,185

298,775

1.Current assets(a + b)

128,595

111,676

219,829

198,728

211,514

118,644

102,184

206,189

181,871

188,021

9,951

9,492

13,640

16,857

23,493

53,703

59,761

56,040

82,457

87,261

2.Non-current liabilities

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)
a.Fixed assets

3,620

4,261

6,040

6,928

8,422

b.Other assets

50,083

55,500

50,000

75,529

78,839

1.Revenue

22,059

50,660

69,855

73,425

75,315

2.Administrative and general expenses

20,439

48,044

64,219

66,581

61,419

3.Profit/(loss) before taxation

(18,134)

(17,423)

5,636

6,845

13,895

4.Profit/(loss) after taxation

(18,584)

(12,368)

1,394

4,367

11,742

D.Profit & loss account

E.Other items
2,000

2,000

3,000

3,000

3,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(237)

(14,868)

1,224

2,702

10,428

-10.24%

-7.31%

0.53%

1.62%

4.18%

1.No. of ordinary shares (000)

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D4/A)

-9.99%

-10.30%

2.12%

2.48%

4.80%

-10.19%

-7.21%

0.51%

1.55%

3.93%

4.Admin. expense to profit before tax. (D2/D3) (times)

-1.13

-2.76

11.39

9.73

4.42

5.Earning per share (D4/E1)

-9.29

-6.18

0.46

1.46

3.91

1.Cash & bank balances to total assets (C1a/C)

65.08%

59.60%

74.74%

64.68%

62.93%

2.Cuurent assets to current liabilities (C1/B1) (times)

152.36

47.52

21.13

34.77

22.31

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

0.46%

1.37%

3.98%

4.24%

5.95%

99.54%

98.63%

96.02%

95.76%

94.05%

90.73

84.54

88.30

89.75

93.67

0.01

1.20

0.88

0.62

0.89

-0.28

-6.33

0.12

0.47

1.10

2.Return on capital employed (ROCE) (D3/C-B1)


3.Return on assets (ROA) (D4/C)

G.Liquidity ratios

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios


1.Cash generated from operating activities to profit after tax. (E4/D4) (times)
2.Cash generated from operating activities to current liabilities (E4/B1) (times)

177

Financial Statement Analysis of Financial Sector

SIBL Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

105,636

109,217

112,297

117,642

117,642

100,000

100,000

100,000

100,000

100,000

5,636

9,217

12,297

17,642

17,642

4,144

3,193

2,871

3,813

3,813

4,144

3,193

2,871

3,813

3,813

C.Total assets (C1+C2)

109,780

112,410

115,168

121,455

121,455

1.Current assets(a + b)

108,085

111,175

114,264

120,899

120,899

2.Non-current liabilities

8,841

1,074

947

936

936

99,244

110,101

113,317

119,963

119,963

1,695

1,235

904

556

556

a.Fixed assets

1,344

1,066

805

556

556

b.Other assets

351

169

99

1.Revenue

8,116

9,502

8,842

9,480

9,480

2.Administrative and general expenses

3,647

3,901

4,018

3,561

3,561

3.Profit/(loss) before taxation

4,469

5,601

4,824

5,918

5,918

4.Profit/(loss) after taxation

2,858

3,581

3,080

3,733

3,733

1.No. of ordinary shares (000)

10,000

10,000

10,000

10,000

10,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(2,088)

2,617

2,839

1,517

1,517

1.Return on equity (ROE) (D4/A)

2.71%

3.28%

2.74%

3.17%

3.17%

2.Return on capital employed (ROCE) (D3/C-B1)

4.23%

5.13%

4.30%

5.03%

5.03%

3.Return on assets (ROA) (D4/C)

2.60%

3.19%

2.67%

3.07%

3.07%

4.Admin. expense to profit before tax. (D2/D3) (times)

0.82

0.70

0.83

0.60

0.60

5.Earning per share (D4/E1)

0.29

0.36

0.31

0.37

0.37

8.05%

0.96%

0.82%

0.77%

0.77%

a.Cash & bank balances


b.Other assets
2.Non-current assets (a + b)

D.Profit & loss account

E.Other items

F.Efficiency ratios/profitability ratios

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

26.08

34.82

39.80

31.71

31.71

3.77%

2.84%

2.49%

3.14%

3.14%

96.23%

97.16%

97.51%

96.86%

96.86%

10.56

10.92

11.23

11.76

11.76

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

-0.73

0.73

0.92

0.41

0.41

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.50

0.82

0.99

0.40

0.40

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

178

Financial Statement Analysis of Financial Sector

Sky Exchange Co. (Pvt) Ltd.

2012

2008

2009

2010

(Thousand Rupees)
2011
2012

28,354

119,896

142,440

1.Share capital

26,500

120,134

140,134

2.Reserves

3.Accumulated profit (loss)

1,854

(238)

2,306

4.Others

537

150

1,792

1.Current liabilities

537

150

1,792

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 to B2)


2.Non-current liabilities

C.Total assets (C1+C2)

28,891

120,046

144,232

1.Current assets(a + b)

25,011

85,790

104,290

a.Cash & bank balances

24,735

83,258

100,620

b.Other assets

276

2,532

3,670

3,880

34,256

39,942

a.Fixed assets

909

2,357

2,930

b.Other assets

2,971

31,899

37,012

1.Revenue

7,548

8,883

24,436

2.Administrative and general expenses

6,379

10,930

23,548

(2,047)

3,988

(2,091)

2,544

2.Non-current assets (a + b)

D.Profit & loss account

3.Profit/(loss) before taxation

1,169

4.Profit/(loss) after taxation

758

1.No. of ordinary shares (000)

265

1,201

1,401

2.Cash dividend

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

4.Cash generated from operating activities

1,200

(4,114)

3,706

1.Return on equity (ROE) (D4/A)

2.67%

-1.74%

1.79%

2.Return on capital employed (ROCE) (D3/C-B1)

4.12%

-1.71%

2.80%

3.Return on assets (ROA) (D4/C)

2.62%

-1.74%

1.76%

4.Admin. expense to profit before tax. (D2/D3) (times)

5.46

-5.34

5.90

5.Earning per share (D4/E1)

2.86

-1.74

1.82

1.Cash & bank balances to total assets (C1a/C)

85.61%

69.36%

69.76%

2.Cuurent assets to current liabilities (C1/B1) (times)

46.58

571.93

58.20

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

1.86%

0.12%

1.24%

1.Capital ratio (A/C)

98.14%

99.88%

98.76%

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

107.00

99.80

101.65

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

1.58

1.97

1.46

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

2.23

-27.43

2.07

E.Other items

F.Efficiency ratios/profitability ratios

G.Liquidity ratios

H.Capital /leverage ratios

I.Cash flow ratios

179

Financial Statement Analysis of Financial Sector

Wall Street Exchange Co. (Pvt) Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Accumulated profit (loss)
4.Others

B.Total liabilities (B1 to B2)


1.Current liabilities

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

214,479

229,180

250,494

272,443

291,507

200,000

200,000

200,000

200,000

200,000

14,479

29,180

50,494

72,443

91,507

129,048

222,581

243,979

295,326

229,014

129,048

222,581

243,979

295,326

229,014

C.Total assets (C1+C2)

343,527

451,761

494,473

567,769

520,521

1.Current assets(a + b)

252,630

354,374

397,694

470,090

415,994

a.Cash & bank balances

134,390

298,696

357,866

423,515

387,699

b.Other assets

118,240

55,678

39,828

46,575

28,295

90,897

97,387

96,779

97,679

104,527

a.Fixed assets

35,333

41,178

40,308

39,634

45,364

b.Other assets

55,564

56,209

56,471

58,045

59,163

1.Revenue

122,726

219,960

268,573

285,148

305,629

2.Administrative and general expenses

107,580

189,814

231,973

247,587

263,695

11,391

23,620

32,791

37,614

44,586

7,283

14,701

21,314

21,949

19,064

1.No. of ordinary shares (000)

20,000

20,000

20,000

20,000

20,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

0.00%

0.00%

(32,437)

182,188

66,889

75,947

(20,042)

1.Return on equity (ROE) (D4/A)

3.40%

6.41%

8.51%

8.06%

6.54%

2.Return on capital employed (ROCE) (D3/C-B1)

5.31%

10.31%

13.09%

13.81%

15.30%

3.Return on assets (ROA) (D4/C)

2.12%

3.25%

4.31%

3.87%

3.66%

4.Admin. expense to profit before tax. (D2/D3) (times)

9.44

8.04

7.07

6.58

5.91

5.Earning per share (D4/E1)

0.36

0.74

1.07

1.10

0.95

39.12%

66.12%

72.37%

74.59%

74.48%

2.Non-current liabilities

2.Non-current assets (a + b)

D.Profit & loss account

3.Profit/(loss) before taxation


4.Profit/(loss) after taxation

E.Other items

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

G.Liquidity ratios
1.Cash & bank balances to total assets (C1a/C)

1.96

1.59

1.63

1.59

1.82

37.57%

49.27%

49.34%

52.02%

44.00%

62.43%

50.73%

50.66%

47.98%

56.00%

10.72

11.46

12.52

13.62

14.58

1.Cash generated from operating activities to profit after tax. (E4/D4) (times)

-4.45

12.39

3.14

3.46

-1.05

2.Cash generated from operating activities to current liabilities (E4/B1) (times)

-0.25

0.82

0.27

0.26

-0.09

2.Cuurent assets to current liabilities (C1/B1) (times)


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

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1)

I.Cash flow ratios

180

Financial Statement Analysis of Financial Sector

2012

INSURANCE COMPANIES
PERFORMANCE AT A GLANCE
CY12 turned out to be positive for insurance sector in Pakistan. The aggregate insurance business
grew sharply during CY12. Its balance sheet size expanded by 18.8 percent and reached Rs 597.8
billion in CY12. Profit before and after taxation increased considerably during CY12.

ANALYSIS OF EQUITY
Total equity of insurance sector
Components of Equity
50

in CY11 to Rs. 95.2 billion in


around 6.5 percent. The share

Billion Rs

CY12, recording an increase of

in

CY12

over

20

Contribution of share capital in


equity was 30.1 percent in CY12.
Total

reserves

of

6%
3.7%

10

2.1%

Share Capital
(SC)

Reserves (RS)

Un
Appropriated
Profit (RE)

CY11

27.6

37.4

24.3

CY12

28.6

38.2

28.3

Growth

3.7%

2.1%

16.5%

CY11.

18%
12%

30

capital (SC) also increased by 3.7


percent

16.5%

40

Growth

increased from Rs. Rs 89.3 billion

0%

insurance

companies comprising reserves and un-appropriated profit touched Rs 66.5 billion in CY12 as
compared to Rs. 61.7 billion last year.

ANALYSIS OF ASSETS
Total assets (TA) at Rs. 597.8 billion

Components of Assets
CY11

percent over CY11. The dominating

700

part in assets was investment in

600

securities and properties (IS) of Rs.

500

Growth
21%

20.3%

Billion Rs

417.7 billion in CY12. IS contributed

CY12

18.8%

18%
15%

400

12%

12.0%

300

9%

200

6%

by 20.3 percent in CY12 over the

100

3%

preceding year. Cash and Balances

70 percent of TA in CY12 increased

Growth

in CY12, showing an increase of 18.8

0%
C&B

IS

TA

with banks (C & B) reflected an


increase of 12.0 percent over the previous year. Total assets of non-Life sector increased from Rs.

181

Financial Statement Analysis of Financial Sector

2012

152.5 billion in CY11 to Rs 167.1 billion in CY12, recording an expansion of 9.6 percent. Total assets
of Life Insurance Sector grew by 22.5 percent over CY11. In absolute terms, it increased from Rs
346.1 billion in CY11 to Rs. 423.9 billion in CY12.

ANALYSIS OF LIABILITIES
Total liabilities (TL) of insurance sector at Rs
Components Of Liabilities

412.7.0 billion in CY11 increased by 21.2

600

percent in CY12 to Rs 500.3 billion. Balances

500

of statutory funds (BSF) have been Rs 313.6

400

CY11

CY12

Growth

25%

22.7%

showing an increase of 22.7 percent. The

20%
17.4%

16.2%

Growth

Billion Rs.

billion in CY11 and Rs 384.9 billion in CY12,

21.2%

15%

300

10%
200

contribution of BSF to TL was 76.0 percent and

5%

100

76.9 percent in CY11 and CY12 respectively.

0%

Out of total liabilities, 83.2 percent pertain to

TL

BSF

OC

MISC

life insurance business.

PROFITABILITY AND OPERATING EFFICIENCY


The main source of revenue of insurance sector

Premium Income Positions

is premium. The gross premium for year CY11


was Rs 127.2 billion which increased by 19.4
premium increased from Rs. 98.4 billion in
CY11 to Rs. 118.7 billion in CY12 showing an

Gross Premium

151.8
127.2

150

Billion Rs.

percent to reach Rs. 151.8 billion in CY12. Net

200

118.7

98.4
Net Premium

100
50

increase of 20.7 percent.

0
CY11

Investment income at Rs. 38.2 billion in CY11

Non core income of insurance companies

increased by 25.6 percent to reach Rs 48.0

60

billion in CY12. Under-writing profit at Rs.

50

26.5 billion in CY11 increased by 42.1 percent

40

taxation increased to Rs. 15.7 billion and Rs.


12.4 billion respectively in CY12.

CY11

CY12

Growth

45%
42.1%
40%
35%

Billion Rs.

to reach Rs. 37.6 billion. Profit before and after

CY12

30%
25.6%

25%

30
20%
20

15%
10%

10
5%
0

0%
Investment Income

182

Underwriting Profit

Financial Statement Analysis of Financial Sector

2012

Profitability Ratios

Return on equity (ROE) at 9.0 percent in CY11

CY11

increased to 13.04 percent in CY12.Similarly,


return on assets (ROA) 1.6 percent in CY11

15%

increased to 2.08 percent in CY12.

10%

CY12

13.04%
9.00%

1.60% 2.08%

5%
0%
ROE

Earnings per share (EPS) at Rs. 2.94 in CY11,

in CY11 to Rs. 33.54 per share in CY12.

35
30
Rs. per Share

per share (BPS) increased from Rs. 32.68 per share

Valuation per Share

40

reached Rs. 4.37 per share in CY12. Breakup value

ROA

CY11

CY12

33.54

32.68

25
20
15

10
5

4.37

2.94

0
EPS

183

BPS

Financial Statement Analysis of Financial Sector

Insurance Companies - Overall

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

79,294,355

84,319,908

86,689,524

89,332,259

95,178,280

1.Share capital

21,001,523

22,291,755

25,452,564

27,621,324

28,648,267

2.Reserves

44,317,746

37,757,097

38,331,444

37,397,162

38,199,607

3.Un appropriated profit

13,975,086

24,271,056

22,905,516

24,313,773

28,330,406

Items
A.Total equity (A1 to A3)

316,877

819,131

1,953,222

1,116,841

2,307,390

B.Total liabilities (B1 to B3)

263,404,552

300,169,598

356,996,176

412,653,090

500,286,556

1.Balance of statutory funds

193,936,317

223,525,201

262,756,784

313,603,025

384,889,878

2.Outstanding claims, adv., prem., due to other insurers

52,695,558

47,774,239

74,314,208

75,264,611

87,473,869

3.Other/misc. liabilities

16,772,677

28,870,158

19,925,184

23,785,454

27,922,809

343,015,784

385,308,637

445,638,922

503,102,190

597,772,226

1.Cash and balances with banks

41,361,289

34,183,294

43,985,108

50,493,163

56,531,992

2.Advances to policy holders & employees

13,844,094

16,678,112

572,369

752,431

761,247

235,570,708

275,622,467

114,607,048

347,237,422

417,696,631

47,301,536

52,405,483

279,517,845

97,410,110

113,975,088

4,938,157

6,419,281

6,956,552

7,209,064

8,807,268

1.Investment income

14,174,965

36,385,553

32,810,542

38,217,452

47,994,585

2.Gross premium

76,150,980

87,428,602

105,179,540

127,150,259

151,831,439

3.Net premium

60,955,357

66,891,124

80,645,113

98,373,350

118,733,384

4.Gross claims

42,809,380

44,853,530

56,866,547

54,179,993

67,848,999

5.Net claims

34,725,276

35,270,353

38,203,611

42,550,808

49,162,663

6.Underwriting profit

27,183,638

29,215,507

16,328,161

26,484,187

37,639,608

7.Profit/(loss) before taxation

(1,876,153)

7,970,541

8,853,469

10,849,925

15,726,750

8.Profit/(loss) after taxation

(3,422,146)

6,575,665

5,862,322

8,038,880

12,411,199

2,669,063

2,897,533

2,516,580

2,733,462

2,837,699

4.Others

C.Total assets (C1 to C5)

3.Investments in securities & properties


4.Other/misc. assets
5.Fixed assets

D.Profit & loss account

E.Other items
1.No. of ordinary shares (000)

N/A

2.Cash dividend

N/A

3.Stock dividend/bonus shares

N/A
N/A

N/A
N/A

N/A
N/A

N/A
N/A

830,219

2,328,621

10,571,042

19,661,576

31,416,611

1.Return on equity (ROE) (D8/A)

-4.32%

7.80%

6.76%

9.00%

13.04%

2.Return on assets (ROA) (D8/C)

-1.00%

1.71%

1.32%

1.60%

2.08%

-1.28

2.27

2.33

2.94

4.37

4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Earning per share (D8/E1) (rs. per share)


4.Net Claims Incurred Ratio (D5/D3)
5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

56.97%

52.73%

47.37%

43.25%

41.41%

-794.34%

444.30%

278.53%

329.45%

303.27%

23.25%

54.40%

40.69%

38.85%

40.42%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)

12.06%

8.87%

9.87%

10.04%

9.46%

2. Investment to total assets (C3/C)

68.68%

71.53%

25.72%

69.02%

69.88%

23.12%

21.88%

19.45%

17.76%

15.92%

29.71

29.10

34.45

32.68

33.54

35.41%

180.32%

244.58%

253.13%

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


-24.26%

1.Cash generated from operating activities to profit after tax. (E4/D8)

184

Financial Statement Analysis of Financial Sector

Life Insurance Corporations - Overall


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

3,845,833

4,552,704

5,859,968

6,242,151

7,726,120

3,550,720

3,632,080

4,612,239

4,612,239

4,812,738

454,004

10,474

189,435

70,723

479,345

(158,891)

910,150

1,058,294

1,559,189

2,434,037

127,208

127,208

24,000

B.Total liabilities (B1 to B3)

210,435,786

243,297,422

285,052,165

339,861,092

416,132,673

1.Balance of statutory funds

193,737,166

223,481,460

262,079,551

311,994,432

381,293,455

11,796,266

11,277,889

20,403,335

17,263,420

21,992,907

4,902,354

8,538,073

2,569,279

10,603,240

12,846,311

214,408,827

247,977,334

290,912,133

346,103,243

423,882,793

1.Cash and balances with banks

23,248,989

18,748,616

27,764,487

34,318,104

37,883,967

2.Advances to policy holders & employees

13,715,744

16,542,211

411,115

594,433

598,327

167,762,427

200,982,882

36,942,032

266,227,453

330,191,591

8,872,574

10,410,990

224,883,840

43,920,914

53,847,445

809,093

1,292,635

910,659

1,042,339

1,361,463

1.Investment income

18,922,502

21,371,584

26,491,668

31,003,963

37,795,671

2.Gross premium

33,644,399

40,568,637

52,584,841

67,745,199

87,558,963

3.Net premium

33,475,344

39,775,876

51,369,955

66,253,831

85,942,529

4.Gross claims

19,133,182

21,669,000

22,330,799

25,579,370

32,364,735

5.Net claims

18,330,205

20,921,771

21,335,138

24,513,450

31,095,725

6.Underwriting profit

22,835,966

24,929,952

12,950,017

21,775,752

33,092,513

211,025

1,187,872

1,597,080

2,471,047

3,678,421

(132,100)

1,227,145

1,078,477

1,619,539

2,463,488

280,122

304,208

362,224

362,224

382,274

4.Others

2.Outstanding claims, adv., prem., due to other insurers


3.Other/misc. liabilities

C.Total assets (C1 to C5)

3.Investments in securities & properties


4.Other/misc. assets
5.Fixed assets

D.Profit & loss account

7.Profit/(loss) before taxation


8.Profit/(loss) after taxation

E.Other items
1.No. of ordinary shares (000)

N/A

2.Cash dividend

N/A

3.Stock dividend/bonus shares

2,494,830

4.Cash generated from operating activities

N/A
N/A
2,433,056

N/A
N/A
9,951,353

N/A
N/A

N/A
N/A

17,849,089

26,454,963

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D8/A)

-3.43%

26.95%

18.40%

25.95%

31.89%

2.Return on assets (ROA) (D8/C)

-0.06%

0.49%

0.37%

0.47%

0.58%

-0.47

4.03

2.98

4.47

6.44

3.Earning per share (D8/E1) (rs. per share)


4.Net Claims Incurred Ratio (D5/D3)
5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

54.76%

52.60%

41.53%

37.00%

36.18%

-17,286.88%

2,031.54%

1,200.77%

1,344.56%

1,343.32%

56.53%

53.73%

51.57%

46.80%

43.98%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)

10.84%

7.56%

9.54%

9.92%

8.94%

2. Investment to total assets (C3/C)

78.24%

81.05%

12.70%

76.92%

77.90%

1.79%

1.84%

2.01%

1.80%

1.82%

13.73

14.97

16.18

17.23

20.21

-1,888.59%

198.27%

922.72%

1,102.11%

1,073.88%

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

185

Financial Statement Analysis of Financial Sector

Adamjee Life Assurance Co. Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

338,763

1.Share capital

534,663

534,663

735,162

2.Reserves

(212,258)

(396,718)

(537,749)

3.Un appropriated profit

16,358

34,830

43,132

4.Others

Items
A.Total equity (A1 to A3)

172,775

240,545

B.Total liabilities (B1 to B3)

238,428

710,816

2,258,599

1.Balance of statutory funds

99,479

509,586

2,017,689

2.Outstanding claims, adv., prem., due to other insurers

28,944

88,699

73,147

3.Other/misc. liabilities

110,005

112,531

167,763

577,191

883,591

2,499,144

1.Cash and balances with banks

37,748

127,414

225,548

2.Advances to policy holders & employees

609,667

2,129,482

C.Total assets (C1 to C5)

3.Investments in securities & properties

401,778

4.Other/misc. assets

113,124

113,631

119,848

5.Fixed assets

24,541

32,879

24,266

1.Investment income

29,349

32,061

22,936

2.Gross premium

267,137

912,667

2,297,193

3.Net premium

215,489

791,950

2,190,441

4.Gross claims

55,740

105,334

263,791

5.Net claims

16,178

29,720

154,990

6.Underwriting profit

111,303

444,354

1,449,721

7.Profit/(loss) before taxation

17,933

21,777

9,022

8.Profit/(loss) after taxation

12,620

18,472

8,303

1.No. of ordinary shares (000)

53,466

53,466

73,516

2.Cash dividend

0.00%

0.00%

0.00%

3.Stock dividend/bonus shares

0.00%

0.00%

0.00%

4.Cash generated from operating activities

(55,090)

276,414

1,228,821

1.Return on equity (ROE) (D8/A)

3.73%

10.69%

3.45%

2.Return on assets (ROA) (D8/C)

2.19%

2.09%

0.33%

0.24

0.35

0.11

D.Profit & loss account

E.Other items

F.Efficiency ratios/profitability ratios

3.Earning per share (D8/E1) (rs. per share)

4.Net Claims Incurred Ratio (D5/D3)

7.51%

3.75%

7.08%

5.Underwriting profit to profit after tax. (D6/D8)

881.96%

2,405.55%

17,460.21%

6.Investment income to net premium (D1/D3)

13.62%

4.05%

1.05%

6.54%

14.42%

9.03%

69.61%

69.00%

85.21%

58.69%

19.55%

9.63%

6.34

3.23

3.27

-436.53%

1,496.39%

14,799.72%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)
2. Investment to total assets (C3/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

186

Financial Statement Analysis of Financial Sector

Amercian Life Insurance Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

(Thousand Rupees)
2011
2012

2008

2009

2010

379,763

581,065

669,193

734,941

826,798

500,000

500,000

500,000

500,000

500,000

(120,237)

81,065

169,193

234,941

326,798

3.Un appropriated profit

2012

B.Total liabilities (B1 to B3)

2,369,735

2,771,591

3,669,489

5,935,512

8,831,370

1.Balance of statutory funds

1,961,522

2,318,142

3,238,863

5,290,441

8,226,773

312,609

325,000

296,435

459,875

400,679

95,604

128,449

134,191

185,196

203,918

2,749,498

3,352,656

4,338,682

6,670,453

9,658,168

164,756

106,526

64,025

125,057

452,268

53,623

68,306

83,051

90,096

99,963

1,801,339

2,856,069

3,795,700

5,833,574

8,536,478

657,500

255,923

337,353

561,509

508,496

72,280

65,832

58,553

60,217

60,963

4.Others

2.Outstanding claims, adv., prem., due to other insurers


3.Other/misc. liabilities

C.Total assets (C1 to C5)


1.Cash and balances with banks
2.Advances to policy holders & employees
3.Investments in securities & properties
4.Other/misc. assets
5.Fixed assets

D.Profit & loss account


208,723

248,389

326,117

55,286

70,489

2.Gross premium

1,155,000

1,349,482

1,893,849

2,993,466

4,170,408

3.Net premium

1,048,496

1,267,953

1,806,525

2,905,583

4,081,149

4.Gross claims

362,000

396,613

524,643

758,431

1,255,839

5.Net claims

332,228

363,070

442,406

629,515

1,239,915

6.Underwriting profit

1.Investment income

415,508

554,620

7.Profit/(loss) before taxation

78,059

96,141

133,403

183,560

196,429

8.Profit/(loss) after taxation

50,221

62,492

86,712

116,248

126,357

1.No. of ordinary shares (000)

50,000

50,000

50,000

50,000

50,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

E.Other items

0.00%

0.00%

0.00%

0.00%

0.00%

(228,857)

762,793

590,201

1,596,738

2,095,960

1.Return on equity (ROE) (D8/A)

13.22%

10.75%

12.96%

15.82%

15.28%

2.Return on assets (ROA) (D8/C)

1.83%

1.86%

2.00%

1.74%

1.31%

1.00

1.25

1.73

2.32

2.53

3.Stock dividend/bonus shares


4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Earning per share (D8/E1) (rs. per share)


4.Net Claims Incurred Ratio (D5/D3)
5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

31.69%

28.63%

24.49%

21.67%

30.38%

827.36%

887.51%

0.00%

0.00%

0.00%

19.91%

19.59%

18.05%

1.90%

1.73%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)
2. Investment to total assets (C3/C)

5.99%

3.18%

1.48%

1.87%

4.68%

65.52%

85.19%

87.49%

87.45%

88.39%

13.81%

17.33%

15.42%

11.02%

8.56%

7.60

11.62

13.38

14.70

16.54

-455.70%

1,220.63%

680.65%

1,373.56%

1,658.76%

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

187

Financial Statement Analysis of Financial Sector

Asia Care Health & Life Insurance Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit
4.Others

B.Total liabilities (B1 to B3)


1.Balance of statutory funds
2.Outstanding claims, adv., prem., due to other insurers
3.Other/misc. liabilities

C.Total assets (C1 to C5)


1.Cash and balances with banks
2.Advances to policy holders & employees
3.Investments in securities & properties
4.Other/misc. assets
5.Fixed assets

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

183,570

228,456

469,028

427,049

313,631

160,000

200,000

500,000

500,000

500,000

2,500

2,500

21,070

25,956

(30,972)

(72,951)

127,208

127,208

67,135

63,854

133,992

179,012

385,630

95,977

118,132

283,179
80,958

0
(186,369)

8,639

6,301

26,420

45,936

58,496

57,553

11,595

14,944

21,493

377,913

419,518

603,020

606,061

699,261

128,417

148,998

93,453

93,478

42,196

6,356

22,456

431,446

414,724

475,222

80,338

79,301

71,458

93,751

172,708

162,802

168,763

6,663

4,108

9,135

9,570

19,549

72,014

34,168

75,216

154,948

212,620

669,906

29,768

32,203

153,560

211,232

668,518

153,158

178,482

593,522

10,952

14,737

153,158

178,482

593,522

D.Profit & loss account


1.Investment income
2.Gross premium
3.Net premium
4.Gross claims
5.Net claims

7.Profit/(loss) before taxation

7,355

9,448

61,317

23,322

58,949

8.Profit/(loss) after taxation

4,886

5,518

59,086

20,221

59,850

6.Underwriting profit

E.Other items
1.No. of ordinary shares (000)
2.Cash dividend

50

20,000

50,000

50,000

50,000

0.00%

0.00%

0.00%

0.00%

0.00%

33.00%

0.00%

0.00%

0.00%

0.00%

(21)

(26)

(89,324)

(60,080)

(89,343)

1.Return on equity (ROE) (D8/A)

2.66%

2.42%

12.60%

4.74%

19.08%

2.Return on assets (ROA) (D8/C)

1.29%

1.32%

9.80%

3.34%

8.56%

97.72

0.28

1.18

0.40

1.20

36.79%

45.76%

99.74%

84.50%

88.78%

0.00%

0.00%

0.00%

0.00%

0.00%

32.15%

60.71%

46.90%

16.18%

11.25%

33.98%

35.52%

15.50%

15.42%

6.03%

1.68%

5.35%

71.55%

68.43%

67.96%

3.Stock dividend/bonus shares


4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Earning per share (D8/E1) (rs. per share)


4.Net Claims Incurred Ratio (D5/D3)
5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)
2. Investment to total assets (C3/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

48.57%

54.46%

77.78%

70.46%

44.85%

3,671.40

11.42

9.38

8.54

6.27

-0.43%

-0.47%

-151.18%

-297.12%

-149.28%

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

188

Financial Statement Analysis of Financial Sector

East West Life Assurance Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves

(Thousand Rupees)
2011
2012

2008

2009

2010

415,341

149,369

146,958

124,125

88,555

413,600

454,960

500,456

500,456

500,456

1,741

(305,591)

3.Un appropriated profit

2012

(353,498)

(376,331)

0
(411,901)

24,000

B.Total liabilities (B1 to B3)

147,823

198,947

256,916

294,178

301,315

1.Balance of statutory funds

119,822

162,256

213,986

238,382

238,392

2.Outstanding claims, adv., prem., due to other insurers

15,503

19,395

28,022

38,870

52,365

3.Other/misc. liabilities

12,498

17,296

14,908

16,926

10,558

563,164

348,316

403,874

418,303

413,870

1.Cash and balances with banks

95,896

59,770

136,182

154,862

136,060

2.Advances to policy holders & employees

10,933

9,464

8,553

8,825

8,589

376,890

197,560

194,146

186,588

202,035

4.Other/misc. assets

32,834

31,257

22,422

31,089

34,681

5.Fixed assets

46,611

50,265

42,571

36,939

32,505

4.Others

C.Total assets (C1 to C5)

3.Investments in securities & properties

D.Profit & loss account


60,927

(197,021)

25,713

11,837

11,708

2.Gross premium

194,538

235,769

250,054

246,773

235,366

3.Net premium

107,753

154,489

183,761

178,687

181,272

4.Gross claims

157,013

165,143

162,347

180,387

220,256

78,078

94,895

152,937

124,525

162,133

1.Investment income

5.Net claims

(20,218)

(20,218)

66,115

50,412

7,840

7.Profit/(loss) before taxation

44,326

(222,596)

5,246

(6,364)

(4,613)

8.Profit/(loss) after taxation

44,708

(1,236)

3,194

(8,583)

(7,415)

1.No. of ordinary shares (000)

41,360

45,496

50,046

50,046

50,046

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

6.Underwriting profit

E.Other items

0.00%

0.00%

0.00%

0.00%

0.00%

(50,872)

(50,870)

(11,010)

(22,063)

(54,726)

1.Return on equity (ROE) (D8/A)

10.76%

-0.83%

2.17%

-6.91%

-8.37%

2.Return on assets (ROA) (D8/C)

7.94%

-0.35%

0.79%

-2.05%

-1.79%

1.08

-0.03

0.06

-0.17

-0.15

3.Stock dividend/bonus shares


4.Cash generated from operating activities

F.Efficiency ratios/profitability ratios

3.Earning per share (D8/E1) (rs. per share)

72.46%

61.43%

83.23%

69.69%

89.44%

1,635.76%

2,069.97%

-587.35%

-105.73%

56.54%

-127.53%

13.99%

6.62%

6.46%

1.Cash & bank balances to total assets (C1/C)

17.03%

17.16%

33.72%

37.02%

32.88%

2. Investment to total assets (C3/C)

66.92%

56.72%

48.07%

44.61%

48.82%

73.75%

42.88%

36.39%

29.67%

21.40%

10.04

3.28

2.94

2.48

1.77

-113.79%

4,115.70%

-344.71%

257.05%

738.04%

4.Net Claims Incurred Ratio (D5/D3)

-45.22%

5.Underwriting profit to profit after tax. (D6/D8)


6.Investment income to net premium (D1/D3)

G.Liquidity ratios

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

189

Financial Statement Analysis of Financial Sector

EFU Life Assurance Co. Ltd.

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,254,381

1,628,540

1,579,275

1,732,640

2,094,258

1.Share capital

750,000

750,000

850,000

850,000

850,000

2.Reserves

570,000

232,500

232,500

232,500

232,500

3.Un appropriated profit

(65,619)

646,040

496,775

650,140

1,011,758

Items
A.Total equity (A1 to A3)

B.Total liabilities (B1 to B3)

10,703,367

16,218,941

20,583,460

26,297,424

35,800,049

1.Balance of statutory funds

9,567,235

14,767,466

18,865,481

24,414,209

33,743,933

2.Outstanding claims, adv., prem., due to other insurers

760,127

880,656

1,214,459

1,140,899

1,294,174

3.Other/misc. liabilities

376,005

570,819

503,520

742,316

761,942

11,957,748

17,847,481

22,162,735

28,030,064

37,894,307

1,425,424

1,365,803

826,325

1,141,457

1,723,572

45,098

59,015

55,583

56,490

60,585

9,684,973

15,053,389

19,711,968

25,133,535

34,728,349

4.Other/misc. assets

493,908

1,019,066

1,147,984

1,248,172

774,696

5.Fixed assets

308,345

350,208

420,875

450,410

607,105

4.Others

C.Total assets (C1 to C5)


1.Cash and balances with banks
2.Advances to policy holders & employees
3.Investments in securities & properties

D.Profit & loss account


56,681

58,853

1,657,014

29,792

277,797

2.Gross premium

9,597,777

9,597,777

8,375,515

10,129,599

11,873,842

3.Net premium

6,136,944

5,570,211

7,920,022

9,597,263

11,301,615

4.Gross claims

7,418,139

7,418,139

2,171,470

2,724,390

3,038,639

5.Net claims

4,369,507

3,911,444

1,837,151

2,360,779

2,625,301

1.Investment income

371,433

66,535

4,246,398

5,406,307

6,810,486

7.Profit/(loss) before taxation

(314,959)

647,721

551,035

880,815

1,392,468

8.Profit/(loss) after taxation

(473,159)

711,659

363,235

578,365

914,118

1.No. of ordinary shares (000)

115,000

115,000

85,000

85,000

85,000

2.Cash dividend

32.50%

32.50%

50.00%

50.00%

55.00%

6.Underwriting profit

E.Other items

3.Stock dividend/bonus shares


4.Cash generated from operating activities

0.00%

0.00%

0.00%

0.00%

17.65%

(507,154)

204,961

3,217,244

3,938,800

5,045,710

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D8/A)
2.Return on assets (ROA) (D8/C)
3.Earning per share (D8/E1) (rs. per share)
4.Net Claims Incurred Ratio (D5/D3)
5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

-37.72%

43.70%

23.00%

33.38%

43.65%

-3.96%

3.99%

1.64%

2.06%

2.41%

-4.11

6.19

4.27

6.80

10.75

71.20%

70.22%

23.20%

24.60%

23.23%

-78.50%

9.35%

1,169.05%

934.76%

745.03%

0.92%

1.06%

20.92%

0.31%

2.46%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)

11.92%

7.65%

3.73%

4.07%

4.55%

2. Investment to total assets (C3/C)

80.99%

84.34%

88.94%

89.67%

91.65%

10.49%

9.12%

7.13%

6.18%

5.53%

10.91

14.16

18.58

20.38

24.64

107.18%

28.80%

885.72%

681.02%

551.98%

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

190

Financial Statement Analysis of Financial Sector

Jubilee Life Insurance Co. Ltd.


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

416,562

546,505

1,149,873

1,430,398

1,795,635

627,120

627,120

627,120

627,120

627,120

(210,558)

(80,615)

522,753

803,278

1,168,515

B.Total liabilities (B1 to B3)

5,226,315

7,777,475

10,198,709

14,357,210

21,752,105

1.Balance of statutory funds

4,629,457

6,788,311

9,144,236

12,844,091

19,853,501

2.Outstanding claims, adv., prem., due to other insurers

476,459

751,169

682,944

787,561

917,650

3.Other/misc. liabilities

120,399

237,995

371,529

725,558

980,954

5,642,877

8,323,980

11,348,582

15,787,608

23,547,740

3,257,997

2,123,027

1,084,664

2,250,153

4,582,439

4,266

3,876

4,560

8,981

6,806

2,031,512

5,579,564

9,673,115

12,980,198

18,207,492

254,523

118,115

439,204

340,689

430,516

94,579

499,398

147,039

207,587

320,487

4.Others

C.Total assets (C1 to C5)


1.Cash and balances with banks
2.Advances to policy holders & employees
3.Investments in securities & properties
4.Other/misc. assets
5.Fixed assets

D.Profit & loss account


78,014

40,999

74,841

185,542

2.Gross premium

3,435,119

(110,311)

4,363,155

5,802,439

8,215,262

12,080,180

3.Net premium

3,457,103

4,384,114

5,451,804

7,756,624

11,501,196

4.Gross claims

1,756,884

1,710,439

2,049,922

2,139,574

2,731,241

760,675

814,037

1,661,786

1,770,426

2,252,223

1.Investment income

5.Net claims

1,112,379

1,878,176

2,647,219

4,363,882

6,786,232

7.Profit/(loss) before taxation

(49,972)

160,744

217,268

582,356

808,669

8.Profit/(loss) after taxation

(54,972)

129,943

146,752

374,593

553,373

1.No. of ordinary shares (000)

62,712

62,712

62,712

62,712

62,712

2.Cash dividend

0.00%

0.00%

15.00%

30.00%

45.00%

6.Underwriting profit

E.Other items

3.Stock dividend/bonus shares


4.Cash generated from operating activities

0.00%

0.00%

0.00%

0.00%

0.00%

591,271

1,150,556

1,829,289

3,304,453

5,092,687

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D8/A)
2.Return on assets (ROA) (D8/C)
3.Earning per share (D8/E1) (rs. per share)

-13.20%

23.78%

12.76%

26.19%

30.82%

-0.97%

1.56%

1.29%

2.37%

2.35%

-0.88

2.07

2.34

5.97

8.82

18.57%

30.48%

22.82%

19.58%

-2,023.54%

22.00%

1,445.38%

1,803.87%

1,164.97%

1,226.34%

-3.19%

1.78%

0.75%

0.96%

1.61%

1.Cash & bank balances to total assets (C1/C)

57.74%

25.50%

9.56%

14.25%

19.46%

2. Investment to total assets (C3/C)

36.00%

67.03%

85.24%

82.22%

77.32%

7.38%

6.57%

10.13%

9.06%

7.63%

6.64

8.71

18.34

22.81

28.63

-1,075.59%

885.43%

1,246.52%

882.14%

920.30%

4.Net Claims Incurred Ratio (D5/D3)


5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

G.Liquidity ratios

H.Capital /leverage ratios


1.Capital ratio (A/C)
2.Break up value per share (A/E1) (Rs. per share)

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

191

Financial Statement Analysis of Financial Sector

State Life Insurance Corporation of Pakistan


Items
A.Total equity (A1 to A3)
1.Share capital
2.Reserves
3.Un appropriated profit

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

1,196,216

1,418,769

1,506,878

1,620,223

2,366,698

1,100,000

1,100,000

1,100,000

1,100,000

1,100,000

457,796

96,216

318,769

406,878

520,223

808,902

B.Total liabilities (B1 to B3)

191,921,411

216,266,614

249,971,171

292,086,940

346,803,605

1.Balance of statutory funds

177,459,130

199,445,285

230,421,529

268,579,591

316,929,988

10,222,929

9,295,368

18,126,111

14,701,580

19,173,934

4,239,352

7,525,961

1,423,531

8,805,769

10,699,683

193,117,627

217,685,383

251,478,049

293,707,163

349,170,303

1.Cash and balances with banks

18,176,499

14,944,492

25,522,090

30,425,683

30,721,884

2.Advances to policy holders & employees

13,601,824

16,401,550

259,368

430,041

422,384

153,861,357

177,273,844

2,733,879

221,069,167

265,912,533

7,353,471

8,907,328

222,752,295

41,532,073

51,806,500

124,476

158,169

210,417

250,199

307,002

1.Investment income

18,696,912

21,163,800

24,340,462

30,765,978

37,151,983

2.Gross premium

19,261,965

25,022,454

35,840,899

45,034,812

56,232,068

3.Net premium

22,695,280

28,366,906

35,638,794

44,812,492

56,018,338

4.Others

2.Outstanding claims, adv., prem., due to other insurers


3.Other/misc. liabilities

C.Total assets (C1 to C5)

3.Investments in securities & properties


4.Other/misc. assets
5.Fixed assets

D.Profit & loss account

9,439,146

11,978,666

17,213,519

19,492,772

24,261,447

5.Net claims

12,778,765

15,723,588

17,071,522

19,420,003

24,067,641

6.Underwriting profit

4.Gross claims

20,956,864

22,450,839

5,878,982

11,510,797

18,038,234

7.Profit/(loss) before taxation

446,216

496,414

610,878

785,581

1,217,497

8.Profit/(loss) after taxation

296,216

318,769

406,878

520,223

808,902

1.No. of ordinary shares (000)

11,000

11,000

11,000

11,000

11,000

2.Cash dividend

0.00%

0.00%

0.00%

0.00%

0.00%

E.Other items

3.Stock dividend/bonus shares


4.Cash generated from operating activities

0.00%

0.00%

0.00%

0.00%

0.00%

2,690,463

365,642

4,470,043

8,814,827

13,135,854

F.Efficiency ratios/profitability ratios


1.Return on equity (ROE) (D8/A)

24.76%

22.47%

27.00%

32.11%

34.18%

2.Return on assets (ROA) (D8/C)

0.15%

0.15%

0.16%

0.18%

0.23%

26.93

28.98

36.99

47.29

73.54

3.Earning per share (D8/E1) (rs. per share)


4.Net Claims Incurred Ratio (D5/D3)
5.Underwriting profit to profit after tax. (D6/D8)
6.Investment income to net premium (D1/D3)

56.31%

55.43%

47.90%

43.34%

42.96%

7,074.86%

7,042.98%

1,444.90%

2,212.67%

2,229.97%

82.38%

74.61%

68.30%

68.65%

66.32%

9.41%

6.87%

10.15%

10.36%

8.80%

79.67%

81.44%

1.09%

75.27%

76.16%

G.Liquidity ratios
1.Cash & bank balances to total assets (C1/C)
2. Investment to total assets (C3/C)

H.Capital /leverage ratios


1.Capital ratio (A/C)

0.62%

0.65%

0.60%

0.55%

0.68%

2.Break up value per share (A/E1) (Rs. per share)

108.75

128.98

136.99

147.29

215.15

908.28%

114.70%

1,098.62%

1,694.43%

1,623.91%

I.Cash flow ratio


1.Cash generated from operating activities to profit after tax. (E4/D8)

192

Financial Statement Analysis of Financial Sector

Non-Life Insurance Corporations - Overall

2012

(Thousand Rupees)
2011
2012

2008

2009

2010

73,627,489

77,784,852

79,227,621

81,484,003

85,806,027

1.Share capital

15,310,032

16,368,903

18,473,672

20,540,656

21,337,471

2.Reserves

43,863,742

37,746,623

38,095,296

37,236,830

37,575,248

3.Un appropriated profit

14,453,715

23,669,326

22,658,653

23,706,517

26,893,308

Items
A.Total equity (A1 to A3)

197,098

699,353

1,960,651

1,126,931

2,288,480

52,101,805

55,925,315

70,197,047

69,857,774

78,984,890

2.Outstanding claims, adv., prem., due to other insurers

40,531,984

35,998,491

53,122,362

57,039,298

64,495,462

3.Other/misc. liabilities

11,569,821

19,926,824

17,074,685

12,818,476

14,489,428

125,926,392

134,409,520

151,385,319

152,468,708

167,079,397

17,394,018

14,560,902

15,184,416

14,539,733

16,019,671

128,350

135,901

161,254

157,998

162,920

3.Investments in securities & properties

66,736,164

73,613,820

76,575,744

79,528,701

84,828,457

4.Other/misc. assets

37,820,475

41,291,894

53,699,147

52,311,483

58,839,897

3,847,385

4,807,003

5,764,758

5,930,793

7,228,452

1.Investment income

(4,839,199)

14,940,088

6,174,516

7,152,863

10,085,339

2.Gross premium

41,920,550

45,855,026

50,661,814

56,451,096

59,472,884

3.Net premium

26,444,972

26,359,943

28,518,877

31,142,662

31,507,333

4.Gross claims

23,153,577

22,419,681

33,827,066

27,710,250

34,256,289

5.Net claims

15,805,173

13,806,667

16,293,451

17,464,816

17,273,008

4.Others

B.Total liabilities (B1 to B3)


1.Balance of statutory funds

C.Total assets (C1 to C5)


1.Cash and balances with banks
2.Advances to policy holders & employees

5.Fixed assets

D.Profit & loss account

4,109,109

4,175,598

3,496,419

4,759,999

4,525,051

7.Profit/(loss) before taxation

(1,954,052)

7,038,047

7,486,823

8,436,384

12,063,296

8.Profit/(loss) after taxation

(3,172,018)

5,467,494

4,926,499

6,463,753

9,934,389

2,174,863

2,364,248

1,917,690

2,124,395

2,208,582

6.Underwriting profit

E.Other items
1.No. of ordinary shares (000)

N/A

2.Cash dividend

N/A

3.Stock dividend/bonus shares

N/A
N/A

N/A
N/A

N/A
N/A

N/A
N/A

(1,492,975)

262,727

608,001

1,118,851

1.Return on equity (ROE) (D8/A)

-4.31%

7.03%

6.22%

7.93%

11.58%

2.Return on assets (ROA) (D8/C)

-2.52%

4.07%

3.25%

4.24%

5.95%

-1.46

2.31

2.57

3.04

4.50

4.Cash generated from operating activities

3,260,659

F.Efficiency ratios/pro