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HBL declares profit of Rs15.7b in H1

HBL declares profit of Rs15.7b in H1

KARACHI: Habib Bank Limited (HBL) on Friday declared a consolidated profit after tax of Rs15.7 billion for the first half (H1) of 2017 compared to Rs16 billion in H1 2016, with earnings per share of Rs10.56.

Pre-tax profit for the first half of 2017 is Rs27.7 billion. Along with the results, the bank declared a dividend of Rs3.50 per share (35%), bringing the total dividend for the year 2017 to Rs7 (70%). HBL’s deposits have crossed Rs2 trillion, driving a 7.4% growth in the balance sheet, to Rs2.7 trillion.

Non mark-up income continued to deliver a strong performance across all business lines, growing by 14% over H1 2016 to reach Rs16.4 billion. Even with the healthy loan growth, the bank was able to slightly increase its consolidated Tier-1 Capital Adequacy Ratio (CAR) to 12.1% with the total CAR declining marginally to 15.4% compared to December 2016.