Profit after tax of Habib Bank Limited increases

KARACHI: The profit after tax (unconsolidated) of Habib Bank Limited (HBL) has increased to Rs 14.435 billion in the nine-month period ended September 30, 2011 as compared to Rs 11.292 billion earned in the corresponding period in 2010. The bank’s earnings per share increased to Rs 13.10 in the period under review against Rs 10.25 in the same period last year.

The board of directors of the bank, in its meeting held here on October 15, 2011 declared a half-year interim cash dividend at Rs three per share i.e. 30 percent. According to the financial results sent to KSE, the bank’s mark-up/return/interest earning increased to Rs 70.133 billion in the nine month period in 2011 against Rs 59.016 billion in the same period last year while the non-mark-up/interest income increased to Rs 9.307 billion against Rs 7.903 billion.

The bank’s mark-up/return/interest expenses increased to Rs 30.087 billion against Rs 25.420 billion, provisions and write-offs increased to Rs 6.291 billion against Rs 5.117 billion while the operating expenditure increased to Rs 20.716 billion against Rs 18.218 billion. The bank’s profit before taxation increased to Rs 22.345 billion in the nine months period in 2011 against Rs 18.164 billion in the same period in 2010.

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