May 16, 2025

Barita Investments Limited (BIL)

Unaudited financials for the six months ended March 31, 2025:

Barita Investments Limited (BIL) for the six months ended March 31, 2025, reported a 33% increase in Net Interest Income totaling $381.80 million compared to $286.14 million in the corresponding period last year. Net Interest Income for the second quarter had a 53% increase to close at $212.63 million compared to $139.00 million for the comparable quarter of 2024.

• Fees and Commission Income for the six months ended March 31, 2025, amounted to $1.85 billion (2024: $2.04 billion).
• Foreign Exchange Trading and Translation Gains for the six months amounted to $56.58 million (2024: loss of $7.26 million).
• Gain on Sale of Investments for the six months ended March 31, 2025, amounted to $1.25 billion (2024: $2.57 billion).
• Other income for the six months amounted to $58.68 million (2024: $94.05 million).

Consequently, Net Operating Revenue for the six months ended March 31, 2025, amounted to $3.60 billion (2024: $4.98 billion).

Staff Costs decreased by 14% to close at $754.43 million (2024: $877.12 million), while Administration costs decreased by 18% from $1.60 billion in 2024 to $1.31 billion in the period under review. As a result, total expenses for the six months ended March 31, 2025, amounted to $1.97 billion, a 15% decrease relative to $2.33 billion reported in 2024.

Operating profit for the six months ended March 31, 2025, amounted to $1.63 billion, a 38% decrease relative to $2.65 billion reported in 2024. Operating profit for the second quarter amounted to $957.46 million (2024: $2.02 billion).

Share loss booked in associated company totalled $135.00 million, a 326% decrease from the corresponding period last year. (2024: Gain of $59.83 million).

Profit Before Taxation for the six months ended March 31, 2025, amounted to $1.50 billion, a 45% decrease relative to $2.71 billion reported in 2024. Profit Before Taxation for the second quarter amounted to $806.49 million (2024: $2.05 billion).

Taxation for the six months ended March 31, 2025, had a 60% decrease to reach $319.11 million (2024: $805.31 million). As such, Net Profit for the six months amounted to $1.18 billion, a 38% decrease from the $1.91 billion reported in 2024. For the second quarter, Net Profit was $627.54 million (2024: $1.43 billion).

Consequently, Earnings Per Share for the six months amounted to $0.98 (2024: EPS: $1.59), while Earnings Per Share for the quarter totaled $0.52 (2024: EPS: $1.19). The twelve-month trailing EPS was $2.57, and the number of shares used in these calculations was 1,199,843,000.

Notably, BIL’s stock price closed the trading period on May 15, 2025, at a price of $71.16 with a corresponding P/E ratio of 27.64x.

Balance Sheet Highlights

The company’s assets totalled $146.16 billion (2024: $134.27 billion). The growth in total assets was driven primarily by a 12% or $10.44 billion increase in pledged assets to close the period at $100.26 billion.

Shareholder’s equity was $36.18 billion (2024: $35.60 billion), representing a book value per share of $30.15 (2024: $29.67).

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