Askari Bank Ratio Analysis

8/8/2019 Askari Bank Ratio Analysis

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PROJECT

ON

Financial Management

Submitted By

Group NamesMBA (Banking & Finance) 2ndTerm

Session 2009-2011Name of the Students Class Roll No Exam Roll No Signatures

Romana Nargus A-1 462

Submitted To

Mr. ZAHID AWAN

Department of Business Administration Gomal University Page | 1

Khyber.Pakhton.Khwa (Dera Ismail Khan) Pakistan


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In The Name Of ALLAH

The Most Gracious,

Beneficial &

Most Merciful.




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ASKARI BANKLIMITED

Askari Commercial Bank Limited (ACBL) was incorporated in Pakistan on October 9, 1991, as a

Public Limited Company. It started its operations during April 1, 1992. The bank principally deals

with banking, as defined in the Banking Companies Ordinance, 1962. The Bank is listed on the

Karachi,Lahore & Islamabad Stock Exchanges and its shares are currently the highest quoted from

among the new private sector banks in Pakistan.

Askari Bank has expanded into a nationwide presence of 150 branches, and an offshore banking Unit

in Bahrain (wadi-e-kalam). A shared network of over 1,100 online ATMs covering all major cities in

Pakistan supports the delivery channels for customer service.

FUNCTIONS OF ASKARI BANK

Services

Askari Bank offers a wide range of services to its customers and recognizes the importance of efficient

business delivery and providing timely solutions.

Personal Banking

Mortgage Finance

Corporate & Investment Banking

Business Finance

ASKCAR - Car Finance

ASKCARD


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Travelers Cheques

Ask Smart

Profit / Markup Rates on Retail Products

Internet banking

Askari Bank has also introduced online banking. Customers are able to view their bank information

and use their accounts for money transfer and use other features.

Services

Personal Finance

ASKCARDS

Business Finance

Auto Financing

Travelers Cheques

Agriculture finance




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(1) (1) Kissan Ever Green Finance (2) Kissan Tractor Finance.

FINANCIAL STATEMENT

Financial statements are records (Written Report) that provide an indication of an individuals,

organizations, or business financial status. There are four basic types of financial statements: balance

sheets, income statements, cash-flow statements, and statements of retained. Financialstatements are

usually compiled on a quarterly andannual basis.

What is Financial Statement Analysis?

Analysis of financial statement means finding out the current position of the company through various

tools like ratio analysis, fund flow analysis. It also involves comparing the company figures with

regard to industry standards or over a period of time.

Data presented in financial statement is of significance to analyst. They develop the relation

among the various items of Balance Sheetand Income Statementand interpret their results in

theoretical perspective. For this analysis they adopt various tool and techniques.

Types ofFinancial Statement

Balance Sheet

Balance sheet also referred to as statement of financial position or condition, reports on a

company's assets, liabilities, and Ownership equity at a given point in time.

Income Statement

Income statement: also referred to as Profit and Loss statement (or a "P&L"), reports on a

company's income, expenses, and profits over a period of time. Profit & Loss account provide

information on the operation of the enterprise. These include sale and the various expenses

incurred during the processing state.

Statement of Retained Earnings

Statement of retained earnings explains the changes in a company's retained earnings over thereporting period.


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Statement of Chas Flow

Statement of cash flows reports on a company's cash flow activities, particularly its operating,

investing and financing activities.

Tool of Analysis

1. Comparative Statement.

2. Absolute Increase/Decrease in % ages.

3. Trend Percentages.

4. Common Size Percentages.

5. Ratio Analysis.

1. COMPARATIVE STATEMENT

In this statement two or more than two years data is presented for comparison.

2. ABSOLUTE INCREASE/DECREASE

It is a type of Horizontal analysis. It gives changes in absolute data intern of Rupees amount. It

enables the analyst to point out the direction of business.

3. TREND PERCENTAGE

This is the second type of horizontal analysis. It is adopted to know the tendencies of business

position. In it one year is chosen as base year and item of financial statement of base year related with

other years relevant items.

4. COMMON SIZE PERCENTAGE

This method is for vertical analysis. It represents the change in percentages in relation to total assets,

total liabilities and owner equity. In this method we take total assets, liabilities and owner equity and

sales individually 100% and develop relationship with their relevant components.

5. RATIO ANALYSIS

Ratio is mathematical relationship of one item to other items. For analysis these ratios are compared

with other years relevant ratios or with the ratios of other companies of the same nature are industrial




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averages. Ratios are really adopted to know the liquidity, stability and profitability position of the

company.

RATIO ANALYSIS

Ratio analysis involves methods of calculating and interpreting financial ratio to analyze and monitor

the firm performances. The basic inputs to ratio analysis are the firms balance sheet and income

statement.

TYPESOF RATIO ANALYSIS

Cross Sectional Analysis

Comparison of two different firms financial ratios at the same point in the times is involves

comparing the firms ratios to those of other firms in its industry or to industry averages.

Time-Series Analysis

Evaluation of the firm s financial performance over time using financial ratio analysis means

comparison to current to past performance using ratios enables analyst to access the firmprogress.

Combined Analysis

A combined view makes it possible to access the trend in the behavior of the ratio in therelation to the industry.




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CATEGORIES (LIST) OF FINANCIAL RATIOS




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BALANCE SHEETS

OF THE HALF YEARS ENDED

(2008 2010)

Assets

(Rupee in Thousands) Year 2008 Year 2009 Year 2010

Current Assets

Cash and balances with

treasury banks 11766925 14879230 13356055

Balances with other banks 5550148 7333002 3497054

lending to financial institutions 10172242 8392950 14444143

Account receivable 85400018 76438647 34747780

Investments 25708194 28625915 39431005

Advances 85976895 99179372 100780162

Total current Assets I39174404 158410469 171508419

Fixed assets

operating fixed Assets 3192862 3810331 5128428 deferred tax 0 0 0

other Assets 2732641 3812788 5535038

Total Assets 145099907 166033588 182171885

Liabilities Current

Liabilities

Bills Payable 1315680 1839077 2627051

Borrowing 10562338 14964087 17553525

Deposits & other Accounts 118794690 131839283 143036707

Total Current Liabilities

130672

708

1486424

47 145099907

Non-Current

Liabilities

Sub-ordinate Loans 2999700 2998500 2997300

Liabilities against assets

Subject to finance lease 1459 0 0

tax liabilities 567217 736298 471519

other liabilities 2271393 2603113 3219796

Total Liabilities 136512477 154980358 169905898Share

Holders

Equity

Share Capital 1507018 2004333 3006499

Reserves(R.E) 5862074 5814754 6948336

Inappropriate income 0 1799979 2144810

Surplus on revaluation of

assets- net of tax 1218338 1434164 166342

Total Common Equity 8587430 11053230 12265987

Total Liabilities & Owner Equity

1450999

07 166033588 182171885




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INCOME STATEMENTS

OF THE HALF YEARS ENDED

(2008 2010)

(Rupee in Thousands) Year 2008 Year 2009 Year 2010

SALES

Mark-up/Return/Interest earned 8780698 12596921 15143241

COGS Mark-up/Return/Interest expensed 4278374 6977313 8685624

Provision against non-performing loans

and advances-net 638547 1128137 3920240

Provision /(Reversal) for diminution in

the value of investment-net -36555 376 1501

Bad debts Written off directly 0 0 0

3900332 4491095 2535876

OtherIncome Non-mark-up/interest income

Fee, commission, and brokerage income 838561 1013660 1072868

Dividend income 51143 109326 137079

Income from dealing in foreign currencies 356218 584344 655761

Income from sale and Purchase of securities 99825 112474 2361251

Unrealized loss on revaluation ofInvestments

Classified as held for trading-net 0 -2308 1728

Other Income 206819 321758 336809

5452898 6630349 7101372

Other

Expenses Non-Mark Up/Interest Expenses

Administrative Expenses 2591985 3277353 4789536

Provision against other assets-net 0 0 0

Other charges 1832 6141 12051

Extra-ordinary/unusual items 0 0 0

2593817 3283494 4801587Gross

Profit Profit Before Taxation (EBIT) 2859081 3346855 2299785

Taxation Taxation-Current 828774 983875 98535

-Prior Years -188247 0 -233950

-Deferred 196558 113006 -245812

Net Profit Profit After Taxation 2021996 2249974 2681012




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1. LIQUIDIT RATIO

Liquidity ratios measure of the amount of funds a company can quickly use to settle its debts.

Net Working Capital Ratio

Current Ratio

Quick(Acid test) Ratio

Net Working Capital Ratio

A measure of both a company's efficiency and its short-term financial health. The working capital

ratio is calculated as:

Formula = Total current assets Total current liabilities= NWC Ratio

2010 = 171508419 145099907 = 26408512

2009 = 158410469 148642447 = 9768022

2008 = I39174404 130672708 = 8501696

0

5 0 0 0 0 0 0

1 0 0 0 0 0 0 0

1 5 0 0 0 0 0 0

2 0 0 0 0 0 0 0

2 5 0 0 0 0 0 0

3 0 0 0 0 0 0 0

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

The analysis shows that Net Working Capital Ratio has increased in 2010 to 26408512 but it has

decreased in 2009 to 9768022, and in 2008 to 8501696.




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Current Ratio

It measures the firms ability to meet its short term obligation. The current ratio is the ratio of current

assets to current liabilities: It is expressed as follows.

Formula = Current Assets

Current Liabilities

2010 = 171508419 = 1.182%

145099907

2009 = 158410469 = 1.605%

1486424472008 = I39174404 = 1.065%

130672708

0

0.5

1

1.5

2

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

The analysis shows that Current Ratio has increased in 2010 to 1.182, but it has decreased to 1.605 in

2009, and in 2008 to 1.065.

Quick(Acid-Test) Ratio

It measures ability to meet short-term cash needs more rigorously by eliminating inventory.

Formula = Current Assets - Inventory

Current Liabilities




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2010 = 171508419 - 158152364 = 0.914%

145099907

2009 = 158410469 - 14351239 = 0.969%

1486424472008 = I39174404 - 127407479 = 0.090%

130672708

0

0.2

0.4

0.6

0.8

1

1.2

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Quick (Acid-Test) Ratio has decreased to 0.090 in 2008 as compared to 2010

which is 0.914. It again strengthened in 2009 to 0.969.

2. ACTIVITY RATIO

Activity ratios measure how quickly a firm converts non-cash assets to cash assets.

Account Receivable Turnover

Average Collection Period

Inventory Turnover

Average Age of Inventory

Total Assets Turnover





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It gives the number of times accounts receivables is collected during the year.

Formula = Net Credit Sales

Average Account Receivables

2010 = 15143241 = 0.435 times

34747780

2009 = 12596921 = 0.164 times

7643864

2008 = 8780698 = 0.010 times

8540001

0

0.1

0.2

0.3

0.4

0.5

2 00 8 2 00 9 2 01 0

Times

Years

Interpretation

Analysis shows that Account Receivable Turnover Ratio has decreased to 0.010 in 2008 as compared

to 2009 which is 0.164. It again strengthened in 2010 to 0.435.

Average Collection Period

It measures the average amount of the time that needed to collect accounts receivables.

Formula = _______365 _______

Account Receivables Turnover

2010 = ___365 = 839.0 days

0.435times

2009 = ___365 = 2225.6 days

0.164 times




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2008 = ___365 = 35500 days

0.010 times

05 0 0 0

1 0 0 0 01 5 0 0 02 0 0 0 02 5 0 0 03 0 0 0 03 5 0 0 04 0 0 0 0

2 00 8 2 00 9 2 01 0

Days

Years

Interpretation

Analysis shows that Average Collection Period has decreased to 839.0 in 2010 as compared to 2009

which is 2225.6. It again strengthened in 2008 to 35500.

Inventory Turnover

It measures the activity or liquidity of the firms inventory.

Formula = Cost of Goods Sold

Average Inventory

2010 = 8685624 = 0.054 times

158152364

2009 = 6977313 = 0.486 times

14351239

2008 = 4278374 = 0.033 times127407479




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00.1

0.2

0.3

0.4

0.5

0.6

2 00 8 2 00 9 2 01 0

Days

Years

Interpretation

Analysis shows that Inventory Turnover has decreased to 0.033 times in 2008 as compared to 2010

which is 0.054 times. It again strengthened in 2009 to 0.468 times.

Average Age Inventory

Average inventory is determine by the beginning and ending and dividing by 2.

Formula = ______365_______

Inventory Turnover

2010 = ___365 = 6759 Days

0.054 times

2009 = ___365 = 751 Days

0.486 times

2008 = ___365 = 11060 Days

0.033 times




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02 0 0 0

4 0 0 0

6 0 0 0

8 0 0 0

1 0 0 0 0

1 2 0 0 0

2 00 8 2 00 9 2 01 0

Days

Years

Interpretation

Analysis shows that Average Age Inventory has decreased to 751 days in 2009 as compared to 2010

which is 6759 days. It again strengthened in 2008 to 11060 days.

Total Assets Turnover

It indicates the efficiency with which the firm uses it assets to generate sales.

Formula = _____Net Sales ____

Average Total Assets

2010 = 15143241 = 0.083%

182171885

2009 = 12596921 = 0.075%

166033588

2008 = 8780698 = 0.060%

145099907




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00.02

0.04

0.06

0.08

0.1

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Total Assets Turnover has decreased to 0.060 in 2008 as compared to 2009 which

is 0.075. It again strengthened in 2010 to 0.083.

Current Assets Turnover


Formula = _______ Sales ______

Average Current Assets

2010 = 15143241 = 0.088 times

171508419

2009 = 12596921 = 0.079 times

158410469

2008 = 8780698 = 0.063 times

I39174404




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00.02

0.04

0.06

0.08

0.1

2 00 8 2 00 9 2 01 0

Times

Years

Interpretation

Analysis shows that Current Assets Turnover Ratio has decreased to 0.063 in 2008 times as compared

to 2009 which is 0.079 times. It again strengthened in 2010 to 0.088 times.

Fixed Assets Turnover


Formula = _____ Sales _ _____

Average Fixed Assets

2010 = 15143241 = 0.083 times

182171885

2009 = 12596921 = 0.075 times

166033588

2008 = 8780698 = 0.006 times

145099907




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00.02

0.04

0.06

0.08

0.1

2 00 8 2 00 9 2 01 0

Times

Years

Interpretation

Analysis shows that Fixed Assets Turnover has decreased to 0.006 times in 2000 as compared to 2009

which is 0.075 times. It again strengthened in 2010 to 0.083 times.

3. LEVERAGE/DEBET/CAPTAL STRUCTURE RATIOS

Leverage/ Capital Structure/ Debt ratios measure the firm's ability to repay long-term debt.

Debt Ratio.

Debt/Equity Ratio.

Time Interest Earned.

Debit Ratio

It measures the proportion of the total assets financed by the firms credit.

Formula = Total Liabilities (Debt)

Total Assets

2010 = 169905898 = 0.932%

182171885




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2009 = 154980358 = 0.933%

166033588

2008 = 136512477 = 0.940%

145099907

0.928

0.93

0.932

0.934

0.936

0.938

0.94

0.942

2 00 8 2 00 9 2 01 0

Percentage

Year

Interpretation

Analysis shows that Debt Ratio has decreased to 0.932 in 2010 as compared to 2009 which is 0.933. It

again strengthened in 2008 to 0.940.

Debt Equity Ratio

It significant measure of solvency since a high degree of debt in the capital structure may make it

difficult for the company to meet interested charges and principles payments at maturity.

Formula = Total Liabilities

Total Stock Holders Equity

2010 = 145099907 = 11.82%

122659872009 = 148642447 = 13.44%

11053230

2008 = 130672708 = 15.21%

8587430




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02

468

10121416

2 00 8 2 00 9 2 01 0

Percentage

Year

Interpretation

Analysis shows that Debt Equity Ratio has decreased to 11.82 in 2010 as compared to 2009 which is

13.44. It strengthened in 2010 to 15.21.

Time Interest Earned /Interest Coverage Ratio

It measures

Formula = ______ EBIT ______

Interest (Expenses)

2010 = 2299785 = 5.93 times

42009 = 3346855 = 1.019 times

32008 = 2859081 = 0.886 times

2




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01

2

3

4

5

6

7

2 00 8 2 00 9 2 01 0

Times

Years

Interpretation

Analysis shows that Time Interest Earned /Interest Coverage Ratio have decreased to 0.155 in 2007

as compared to 2006 which is 0.184. It again strengthened in 2008 to 2.28 while dropped to 0.20 in

2009.

4. PROFITABILTY RATIO

Profitability ratios measure the firm's use of its assets and control of its expenses to generate anacceptable rate of return.

Gross Profit Margin.

Profit Margin.

Return on Total Assets.

Return on Common Equity.

Gross Profit Margin

It expresses the relationship of gross profit to net sales and is expressed in terms of percentage. This

ratio is a tool that indicates the degree to which selling price of goods per unit may decline without

resulting in losses.




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Formula = Gross Profit x 100

Net Sales

2010 = 2535876 x 100 = 0.167%

151432412009 = 4491095 x 100 = 0.356%

12596921

2008 = 3900332 x100 = 0444%

8780698

0

0.1

0.2

0.3

0.4

0.5

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Cash Ratio has decreased to 0.155 in 2007 as compared to 2006 which is 0.184. It

again strengthened in 2008 to 2.28 while dropped to 0.20 in 2009.

(Operating) Profit Margin

This ratio establishes a relationship between cost of goods sold plus other operating expenses and net

sales. This ratio is calculated mainly to ascertain the operational efficiency of the management in their

business operations.

Formula = Cost of goods sold + operating expenses

Net sales

2010 = 8685624 + 4801587 = 0.890%




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15143241

2009 = 6977313 + 3283494 = 0.814%

12596921

2008 = 4278374 + 2593817 = 0.782%

8780698

0.7

0.75

0.8

0.85

0.9

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Operating profit Margin has decreased to 0.782 in 2008 as compared to 2009

which is 0.814. It again strengthened in 2010 to 0.890.

Return On Total Assets

It measures the overall effectiveness of management in generating profits with its available assets

also at ROI.

Formula = Earning Available for Common Stockholders

Total Assets

2010 = 2681012 = 0.014%

182171885

2009 = 2249974 = 0.013%

166033588

2008 = 2021996 = 0.013%

145099907




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0.01240.01260.0128

0.0130.01320.01340.01360.0138

0.0140.0142

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Return on Total Assets has increased to 0.014 in 2010. While it again decreased

in 2009 to 0.013% while dropped to 0.013% in 2008.

Return On Total Equity

It measures the return earned on the common stock holders investment in the firms.

Formula = Earning Available for Common Stockholders

Common Stock Equity

2010 = 2681012 = 0.891%

3006499

2009 = 2249974 = 1.122%

2004333

2008 = 2021996 = 1.008%

2004333




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00.2

0.4

0.6

0.8

1

1.2

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Return on Total Equity has decreased to 0.891% in 2010 as compared to 2008

which is 1.008%. It again strengthened in 2009 to 1.112%.



Formula = Current Assets - Inventory

Current Liabilities

2010 = 171508419 - 158152364 = 0.914%

145099907

2009 = 158410469 - 14351239 = 0.969%

148642447

2008 = I39174404 - 127407479 = 0.090%

130672708




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00.2

0.4

0.6

0.8

1

1.2

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that ART Ratio ..has decreased to 0.155 in 2007 as compared to 2006 which is

0.184. It again strengthened in 2008 to 2.28 while dropped to 0.20 in 2009.

5.MARKET VALUE

Market ratios measure investor response to owning a company's stock and also the cost of issuing

stock. it relates a firm market value as erasure by its current share pries to certain accounting value.

Earning Per Share.

Price/Earnings Ratio.

Book Value Par Share.

Dividend Yield

Dividend Payout.

Earning Per Share


Formula = Net Income Proffered Dividends

Common Stock Standing




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2010 = 2681012 - 0 = 0.891%

3006499

2009 = 2249974 - 0 = 1.122%

2004333

2008 = 2021996 - 0 = 1.341%

1507018

00.20.40.60.8

11.21.41.6

2 00 8 2 00 9 2 01 0

percentage

year

Interpretation

Analysis shows that Cash Ratio has decreased to 0.891% in 2010 as compared to 2009 which is

1.112%. It again strengthened in 2008 to 1.341%.

Pries /Earning Ratio

It relates earnings per common share to the market price at which the stock trades, expressing the

multiple that the stock market places on a firms earnings.

Formula = Market Price Per Share

Earning Per Share

2010 = 182171885 = 59.43%

3006499

2009 = 166033588 = 82.83%

2004333




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2008 = 145099907 = 96.28%

1507018

0

2 0

4 0

6 0

8 0

1 001 20

2 00 8 2 00 9 2 01 0

Percentage

Year s

Interpretation

Analysis shows that Price Earning Ratio has decreased to 0.155 in 2007 as compared to 2006 which is

0.184. It again strengthened in 2008 to 2.28 while dropped to 0.20 in 2009.

Dividend Yield

It shows the relationship between cash dividends and market price.

Formula = Divided Per Shares

Market Price Per Share

2010 = 3370000 = 60.47%

5573149

2009 = 2694106 = 69.06%

3901279

2008 = 1638357 = 54.13%

3026550




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7 5 0 0 0 0 08 0 0 0 0 0 0

8 5 0 0 0 0 0

9 0 0 0 0 0 0

9 5 0 0 0 0 0

1 0 0 0 0 0 0 0

2 00 8 2 00 9 20 10

Percentage

Years

Interpretation

Analysis shows that Dividend Yield has decreased to 54.13% in 2008 as compared to 2010 which is


Dividend Payout

It determined by the formula cash dividends per share divided by earnings per share.

Formula = Dividend per Shares

Earning Per Share

2010 = 3370000 = 60.47%

5573149

2009 = 2694106 = 69.06%

3901279

2008 = 1638357 = 54.13%

3026550




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7 5 0 0 0 0 0

8 0 0 0 0 0 0

8 5 0 0 0 0 0

9 0 0 0 0 0 0

9 5 0 0 0 0 0

1 0 0 0 0 0 0 0

2 00 8 2 00 9 2 01 0

Percentage

Years

Interpretation

Analysis shows that Dividend Payout has decreased to 54.13% in 2008 as compared to 2010 which is


Text References

1. Managerial Finance by JAE K. SHIM, JOEL g. SIEGEL.

2. Principle of Managerial Finance 11th Edition by Lawrence J.Gitman.

3. Askari Bank Quarterly Report March of (2010) of ACBL.

References

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www.pakistanimbajimdo.com

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www.shlideshare.net

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Askari Bank Ratio Analysis

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