30 June 2011

30 June 2010

For the 

For the 

For the 

Three months 

Three months 

Six months 

ended 

ended 

ended 

Rupees 

Rupees 

Rupees 

Mark-up/Return/Interest Earned

   278,229,293

   612,572,727

      396,520,688

      760,308,711

Mark-up/Return/Interest Expensed

   233,725,189

   495,394,947

      296,074,864

      556,555,234

Net Mark-up/Interest Income

     44,504,104

   117,177,780

      100,445,824

      203,753,477

Provision / (reversal) against non-performing loans and advances

   106,974,708

     86,931,179

      (87,991,349)

    (117,537,616)

Provision against held-to-maturity securities

     43,699,688

     43,075,188

                    -  

                    -  

Reversal in provisions against lending to financial institutions

                    -  

                    -  

      (23,500,000)

      (23,500,000)

Bad debts written off directly

                    -  

                    -  

                    -  

   150,674,396

   130,006,367

    (111,491,349)

    (141,037,616)

Net Mark-up / Interest Income after provisions

  (106,170,292)

    (12,828,587)

      211,937,173

      344,791,093

NON MARK-UP / INTEREST INCOME

Fee, Commission and Brokerage Income 

          489,485

       1,449,491

         1,158,725

         4,332,291

Dividend Income

     24,840,079

     46,020,802

        26,732,658

        50,066,258

Gain on dealing in quoted securities 

     12,831,582

     41,312,545

        55,418,544

      148,614,624

Gain on dealing in mutual funds 

     31,618,950

     51,109,606

            812,862

        11,170,563

Income from trading in government securities

                    -  

                    -  

                    -  

                    -  

Unrealized loss on revaluation of held for trading investments - net 

      (1,724,111)

      (6,127,587)

      (11,425,371)

      (16,709,367)

Loss from dealing in foreign currencies

    (41,440,558)

  (166,761,442)

    (164,408,197)

    (197,575,364)

Fair valuation adjustment on non-current asset classified as held for sale

    (75,619,891)

    (75,619,891)

                    -  

                    -  

Other income

     17,858,150

         4,295,758

        14,465,462

Total non mark-up/interest Income

    (42,744,962)

    (90,758,326)

      (87,415,021)

        14,364,467

  (148,915,254)

  (103,586,913)

      124,522,152

      359,155,560

NON MARK-UP / INTEREST EXPENSES

Administrative expenses

     52,681,298

     92,969,684

        56,899,872

      104,819,224

Other provisions / write offs 

     58,543,270

     58,543,270

                    -  

                    -  

Other charges - penalties imposed by SBP

          922,250

          922,250

            701,400

            701,400

Total non mark-up / interest expenses

   112,146,818

   152,435,204

        57,601,272

      105,520,624

  (261,062,072)

  (256,022,117)

        66,920,880

      253,634,936

Extra ordinary / unusual items 

                    -  

                    -  

                    -  

                    -  

(LOSS) / PROFIT BEFORE TAXATION

  (261,062,072)

  (256,022,117)

        66,920,880

      253,634,936

Taxation 

–  Current

       7,730,526

     12,466,600

        13,842,003

        18,978,171

–  Prior years

                    -  

                    -  

                    -  

                    -  

–  Deferred

    (45,071,985)

    (45,071,985)

        20,725,953

        20,725,953

    (37,341,459)

    (32,605,385)

        34,567,956

        39,704,124

(LOSS) / PROFIT AFTER TAXATION

  (223,416,732)

        32,352,924

      213,930,812

(Loss) / Earning Per Share - basic and diluted (Rupees)

(0.37)

(0.37)

0.05

0.36

The annexed notes 1 to 20 form an integral part of this condensed interim unconsolidated financial information.