Habib Bank hasn’t gained much if we compare the bank’s profitability with the previous year. The figure Rs. 25.75 billion, revealing HBL’s Profit for the last nine months was given which showed that the bank’s flat deposition in the year.
Last year, the bank was able to get hold of a profit-after-tax amount of Rs. 25.72 billion.
The bank issued a statement that earnings per share were recorded as Rs. 17.47. Not just this, the bank gave its third-quarter dividend rate which was Rs. 3.5 per share i.e. 35%. It is to note that as of this year, the balance sheet has increased by 7 percent to become Rs. 2.4 trillion.
Coming to the average current accounts, they increased 19 percent for the time period of nine months. This enabled HBL to cut down its expenses for domestic depositing. Nearly all segments experienced growth of domestic loans which enabled the net income to enhance by 7 percent – Rs. 62.2 billion.
And good news for fees and commission, their growth was seen on course, increasing by 18 percent to an amount of Rs. 13.7 billion. Comparing to last year 9 month recoveries, the bank was successful in lessening by 58 percent in this year while the administrative expenses lowered to 10 percent compared with previous year, hence increasing HBL’s Profit.
Lastly, the non-performing coverage of loan ratio bettered as compared to previous year as it reached 90 percent till 30th September, 2016.
Habib Bank is one of the pioneering banks of Pakistan, also the biggest to operate and oldest to retain in the country. The bank is ever known for providing effective services to customers with its long-term policy to communicate with businesses and provide effective solutions to them. Over its Islamic Banking head too, the bank has worked and strengthened to make it successful.