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Standard Chartered Pakistan registers Rs46bn profit in 2024 – Business & Finance

February 21, 2025
in Business
Standard Chartered Pakistan registers Rs46bn profit in 2024 - Business & Finance
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Standard Chartered Bank (Pakistan) Limited (SCBPL), a subsidiary of Standard Chartered Plc, posted earnings of Rs46.06 billion for the year ended December 31, 2024, up over 8% from the profit-after-tax Rs42.62 billion recorded in the same period of the preceding year.

As per SCBPL’s latest financial results filed the the Pakistan Stock Exchange (PSX) on Friday, the earnings per share of the bank stood at Rs11.90 in 2024, an increase of EPS from Rs11.01.

The Board of Directors of the bank also recommended a final cash dividend at 55% i.e. Rs5.5 per share of Rs10 each. This is in addition to the 35% i.e. Rs3.5 per share of Rs10 each in cumulative dividend already paid in 2024

In 2024, Standard Chartered earned interest amounting to Rs159.13 billion in 2024, from Rs151.85 billion in 2023, an increase of nearly 5%.

Standard Chartered Pakistan’s profit marginally up YoY in 2QCY24

However, the bank’s net mark-up declined to Rs93.51 billion in 2024, as compared to Rs94.73 billion in 2023, a decrease of over 1%, owing to a 15% rise in interest expenses during the year.

In 2024, SCBPL’s fee and commission income clocked in at Rs6.99 billion, an increase of 27% against Rs5.52 billion earned in the same period last year.

The bank saw its foreign exchange income increase significantly to Rs9.92 billion in 2024, as compared to Rs5.71 billion in SPLY, reflecting a jump of 74%.

Moreover, the bank registered massive gains on securities to the tune of Rs4.6 billion in 2024, as compared to a loss of Rs996 million in 2023.

During the period, the bank saw total income jump to Rs118.2 billion, up by 9%.

Standard Chartered’s non-interest expense rose to Rs22.46 billion in 2024, up over 18% against Rs18.99 billion in SPLY.

During the period, the firm reported a profit before tax of Rs100.62 billion, which increased by nearly 13%.

In 2024, SCBPL paid taxes to the tune of Rs54.55 billion as compared to Rs46.59 billion in the preceding year, a gain of 17%.

Standard Chartered Bank (Pakistan) Limited (SCBPL), a subsidiary of Standard Chartered Plc, posted earnings of Rs46.06 billion for the year ended December 31, 2024, up over 8% from the profit-after-tax Rs42.62 billion recorded in the same period of the preceding year.

As per SCBPL’s latest financial results filed the the Pakistan Stock Exchange (PSX) on Friday, the earnings per share of the bank stood at Rs11.90 in 2024, an increase of EPS from Rs11.01.

The Board of Directors of the bank also recommended a final cash dividend at 55% i.e. Rs5.5 per share of Rs10 each. This is in addition to the 35% i.e. Rs3.5 per share of Rs10 each in cumulative dividend already paid in 2024

In 2024, Standard Chartered earned interest amounting to Rs159.13 billion in 2024, from Rs151.85 billion in 2023, an increase of nearly 5%.

Standard Chartered Pakistan’s profit marginally up YoY in 2QCY24

However, the bank’s net mark-up declined to Rs93.51 billion in 2024, as compared to Rs94.73 billion in 2023, a decrease of over 1%, owing to a 15% rise in interest expenses during the year.

In 2024, SCBPL’s fee and commission income clocked in at Rs6.99 billion, an increase of 27% against Rs5.52 billion earned in the same period last year.

The bank saw its foreign exchange income increase significantly to Rs9.92 billion in 2024, as compared to Rs5.71 billion in SPLY, reflecting a jump of 74%.

Moreover, the bank registered massive gains on securities to the tune of Rs4.6 billion in 2024, as compared to a loss of Rs996 million in 2023.

During the period, the bank saw total income jump to Rs118.2 billion, up by 9%.

Standard Chartered’s non-interest expense rose to Rs22.46 billion in 2024, up over 18% against Rs18.99 billion in SPLY.

During the period, the firm reported a profit before tax of Rs100.62 billion, which increased by nearly 13%.

In 2024, SCBPL paid taxes to the tune of Rs54.55 billion as compared to Rs46.59 billion in the preceding year, a gain of 17%.

Tags: banking sectorEPSprofit after taxpsx companiesPSX noticesPSX stocksStandard CharteredStandard Chartered Pakistan
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