Bank of Punjab : FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2022

Corporate Affairs Department, Head Office, BOP Tower, 10-B, Block E/11, Main Boulevard, . Gulberg-11 1, Lahore.

THE BANK OF PUNJAB

Patttol( R~/Jor-lf

Tel: [phone] Fax: [phone] ·[e-mail]@bop.com.pk

HO/Corp. Affairs/22/370

April 22, 2022

The General Manager,

Pakistan Stock Exchange Limited,

Stock Exchange Building,

Stock Exchange Road,

Karachi.

FINANCIAL RESULTS OF THE BANK FOR 1st QUARTER ENDED MARCH 31, 2022

Dear Sir,

We are pleased to inform you that the Board of Directors of the Bank in their meeting held on Thursday, April 21, 2022 at 2.00 p.m. in the Bank's Board Room at its Head · Office, Lahore have approved the Quarterly Un-audited Financial Statements of the Bank for 1st quarter ended March 31, 2022.

• i) CASH DIVIDEND -----------l'JIL-----------

  AND/OR

• ii) BONUS SHARES -----------l'JIL-----------

  AND/OR

• iii) RIGHT SHARES -----------l'JIL-----------

AND / OR

iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION -----------l'JIL-----------

AND / OR

v)

ANY OTHER PRICE-SENSITIVE INFORMATION -----------l'JIL-----------

AND / OR

(Contd ... P/2)

Corporate Affairs Department, Head Office, BOP Tower, 10-B, Block E/11, Main Boulevard, Gulberg-111, Lahore.

THE BANK OF PUNJAB

Pattiolf R~bO~I(

Tel: [phone] Fax: [e-mail] [e-mail]

(2)

The Profit & Loss Accounts (Standalone along with Consolidated) ofthe Bank are attached as Annexure-rA'.

The Quarterly Report of the Bank for the quarter ended March 31, 2022 will be transmitted through PUCARS separately, within the specified time.

(l ____,

Yours truly,

~

KAMRAN HAFEEZ Secretary to the Board

Encl. As Above.

THE BANK OF PUNJAB
UNCONSOLIJ)ATED CONDENSE)) INTERIM PROFIT AN )) LOSS ACCOUNT
FOR THE TIU{EE MONTHS ENJ)ED MARCH 31, 2022 (UN -AUDITED)
Three Months
Ended	Ended
March 31,	March 31,
2022	2021

Note

Three Months

Rupees in '000'

Mark-up/ return/ interest earned	24	26,792,348	19,405,712
Mark-up/ return/ interest expensed	25	18,679,520	12,537,768
Net mark-up / interest income	8,112,828	6,867,944
NON MARK-UP/ INTEREST INCOME
Fee and commission income	26	1,371,261	1,116,795
Dividend income	163,510	55,821
Foreign exchange income	128,844	74,717
Income/ (loss) from derivatives
(Loss) I gain on securities - net	27	(123,680)	1,262,147
Other income - net	28	133,264	24,571
Total non-markup / interest income	1,673,199	2,534,051
Total income	9,786,027	9,401,995
NON MARK-UP I INTEREST EXPENSES
Operating expenses	29	7,300,170	5,399,905
Workers welfare fund	62,105	65,526
Other charges	30	4,014	150
Total non-markup / interest expenses	7,366,289	5,465,581
Profit before provisions	2,419,738	3,936,414
(Reversal)/ provisions and write offs - net	31	(1,063,984)	869,525
Extra ordinary/ unusual items
PROFIT BEFORE TAXATION	3,483,722	3,066,889
Taxation - net	32	1,323,195	1,234,265
PROFIT AFTER TAXATION	2,160,527
1,832,624
Basic earnings per share - Rupees	33	0.82
0.69
Diluted earnings per share - Rupees	34	0.82	0.69

The annexed notes 1 to 41 form an integral part of these unconsolidated condensed interim financial statements.

Chief Financial Officer

President

Director

THE BANK OF PUNJAB AND ITS SUBSIDIARIES

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT FOR THE THREE MONTHS ENDED MARCH 31, 2022 (UN-AUDITED)

Three Months

Ended March 31, 2022

Three Months

Ended March 31, 2021

Note

Rupees in '000'

Mark-up/ return/ interest earned	24	26,819,842	19,428,257
Mark-up/ return/ interest expensed	25	18,676,928	12,538,042
Net mark-up/ interest income	8,142,914	6,890,215
NON MARK-UP/ INTEREST INCOME
Fee and commission income	26	1,394,320	I, 124,394
Dividend income	164,143	55,821
Foreign exchange income	128,844	74,717
Income I (loss) from derivatives
(Loss) I gain on securities - net	27	(123,680)	1,262,147
Other income - net	28	133,264	24,887
Total non-markup / interest income	1,696,891	2,541,966
Total income	9,839,805	9,432,181
NON MARK-UP/ INTEREST EXPENSES
Operating expenses	29	7,349,729	5,444,741
Workers welfare fund	62,105	65,526
Other charges	30	4,014	150
Total non-markup / interest expenses	7,415,848	5,510,417
Profit before provisions	2,423,957	3,921,764
(Reversal)/ provisions and write offs - net	31	(1,063,925)	850,569
Extra ordinary/ unusual items
PROFIT BEFORE TAXATION	3,487,882	3,071,195
Taxation - net	32	1,324,227	1,235,170
PROFIT AFTER TAXATION	2,163,655	1,836 025
Basic earnings per share - Rupees	33	0.81	0.69
Diluted earnings per share - Rupees	34	0.81	0.69
PROFIT ATTRIBUTEABLE TO:
Equity holders of the parent	2,135,236	1,815,740
Non-controlling interest	28,419	20,285
2,163,655	1,836 025

The annexed notes 1 to 41 form an integral part of these consolidated condensed interim financial statements.

Chief Financial Officer

President

Director