Bank AL Habib declares Rs. 13.93b profit after tax

Observer Report

The Board of Directors of Bank AL Habib Limited (the Bank) announced the Bank’s financial results for the nine months period ended 30 September 2021.

The Bank posted profit after taxation of Rs. 13.93 billion i.e. an increase of 6.05 percent compared to corresponding period last year.

The Bank’s profit before tax was recorded at Rs. 22.31 billion, translating into an EPS of Rs. 12.53 per share as against Rs. 11.82 per share for the corresponding period last year. The Bank reported an increase in foreign exchange income by 35.61 percent.

Dividend income for the nine months period ended September 30, 2021 was recorded at Rs. 499.38 million. The Bank managed to significantly increase its fee and commission income by 39.56 percent as compared to the corresponding period last year.

Total Assets reached to Rs. 1.86 trillion, an increase of 22.05 percent as compared to 31 December 2020. Net loans and advances grew by 29.20 percent to reach Rs. 659.23 billion whilst the investments increased by 22.20 percent to reach Rs. 934.74 billion, leading to overall growth in the total assets.

Due to the Bank’s sound risk management practices and prudent financing strategy, the NPL ratio of the Bank fell to 0.99 percent.

The Bank achieved a coverage ratio of 190.37 percent which reflects the prudent approach adopted towards non-performing loans.

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