HBL profit before tax up 1.7 percent in 2012

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KARACHI: The Habib Bank Limited (HBL) profit before tax saw a growth of 1.7 percent in 2012, standing at Rs 34.9 billion as compared with previous year, while profit after tax at Rs 22.4 billion was almost at last year’s level. The pre-tax and after tax earnings per share were Rs 28.78 and Rs 18.36, respectively for the year ended December 31, 2012.

The HBL board of directors in its meeting held on February 12, 2013 reviewed the performance of the group and approved the financial statements for the year ended December 31, 2012. The board has declared final cash dividend of Rs 4.00 per share, in addition to interim cash dividend of Rs 3.5 per share already paid for the year December 31, 2012. The board has also recommended issue of bonus share at 10 percent.

The net interest income increased by 2.0 percent to Rs 58 billion for the year ended December 31, 2012. The non-interest income at Rs 15 billion pointed to an increase of 8.0 percent.

The performance of HBL during the year under review was characterised by strong growth in deposits. The redeemable feature of the performance was an impressive growth in domestic and total deposits which stood at Rs 1,041 billion and Rs 1,215 billion, respectively for the year ended December 31, 2012 as against Rs 791 billion and Rs 934 billion in the previous year. The robust growth in domestic deposits by 32 percent was much above the industry growth of 11 percent.

HBL, the only AAA/A-1+(Tripple A/A-One Plus) private sector bank of Pakistan, with balance sheet size of Rs 1.610 trillion, deposit of Rs 1.215 trillion, branch network of 1,497, ATMs over 750 and customers base of around 6 million has truly become the market leader in the banking industry in Pakistan.

 

Courtesy: Daily Times