Trust Investment Bank Limited’s financial results for the half year ended December 31, 2011

Karachi: We are pleased to inform you that the Board of Directors of our Bank at its meeting held on March 3, 2012 at 10:30 a.m. at 23-D/1-A, Gulberg-III, Lahore, recommended the following:

Cash Dividend      NIL

Bonus Shares       NIL

The financial results of the Bank are appended as;

We will be sending you 300 copies of pitted accounts for distribution amongst the members of the Exchange.

Trust Investment Bank Limited

Condensed Interim Profit and Loss Account (Un-Audited)

For the Half Year Ended December 31, 2011

 

Half year ended Quarter ended
31 December 31 December
2011 2010 2011 2010
Rupees Rupees Rupees Rupees
Income
Income from lease operations 98,275,194 162,466,926 13,610,281 83,510,844
Income from investments 5,243,586 22,247,808 2,774,591 7,580,287
Income from term finances 88,709,847 189,056,927 27,132,562 77,975,328
———— ———— ———— ————
192,228,627 373,771,661 43,517,434 169,066,459
Finance cost 286,139,365 309,474,948 149,313,158 152,138,061
———— ———— ———— ————
(93,910,738) 64,296,713 (105,795,724) 16,928,398
Administrative and operating expenses 66,249,204 70,912,952 36,168,530 37,712,475
Depreciation and amortization 3,629,311 4,915,452 3,629,311 2,897,072
———— ———— ———— ————
(163,789,253) (11,531,691) (145,593,565) (23,681,149)
Other operating income / (loss) 7,107,301 19,691,681 3,488,891 (626,466)
———— ———— ———— ————
(156,681,952) 8,159,990 (142,104,674) (24,307,615)
Other operating expenses 9,171,402 7,174,123 4,931,241 147,393
———— ———— ———— ————
Operating (loss)/ profit before provisions and taxation (165,853,354) 985,867 (147,035,915) (24,455,008)
Reversal / (Provision) against lease, loan
and other receivables (10,026,159) 222,951,372 (22,049,628) 227,951,372
Reversal of/ (Provision) for diminution in
the value of investment 45,963,072 45,837,960
———— ———— ———— ————
(10,026,159) 268,914,444 (22,049,628) 273,789,332
———— ———— ———— ————
(Loss) / profit before taxation (175,879,513) 269,900,311 (169,085,543) 249,334,324
Provision for taxation 1,474,282 15,078,035 548,022 14,578,035
———— ———— ———— ————
(Loss) / profit after taxation (177,353,795) 254,822,276 (169,633,565) 234,756,289
———— ———— ———— ————
(Loss) / earning per share – basic/ diluted (3.43) 3.99 (3.09) 3.84

 

For more information, Contact:
Trust Investment Bank Limited
23-D/1 -A, Gulberg III, Lahore, Pakistan:
UAN: +92-42-111-665-462
Tel: +92-42-3240 4714-18
Fax: +92-42-3240 4720

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