Staff Reporter
Karachi
The Board of Directors of Bank AL Habib Limited (the Bank) announced the financial results for the year ended December 31, 2019. The Bank reported profit after tax of Rs. 11.17 billion for the year ended December 31, 2019 as compared to Rs. 8.42 billion for the corresponding period last year, showing a growth of 32.66 percent. Earnings per share (EPS) was recorded at Rs. 10.05 showing an increase of 32.76 percent over the corresponding period last year. The Bank declared a final cash dividend of 35%.
Profit before tax was Rs. 19.01 billion showing an increase of 33.28 percent, whereas profit before provisions and tax increased by 54.41 percent. The Bank improved its net mark-up income by 33.32 percent. Fee and Commission income which is earned mainly through trade business, general banking services, alternate delivery channels, etc., showed an increase of 27.22 percent over the corresponding period last year. The Bank’s foreign exchange income increased by 41.25 percent. Dividend income for the year ended December 31, 2019 was recorded at Rs. 451 million.
