Staff Reporter
Karachi
The Board of Directors of Bank AL Habib Limited (the Bank) announced the financial results for the half year ended June 30, 2020. According to the financial results, the Bank’s profit after tax was recorded at Rs. 7.23 billion for the half year ended June 30, 2020 as compared to Rs. 4.46 billion for the corresponding period last year, showing a growth of 61.96 percent. Earnings per share (EPS) was recorded at Rs. 6.50.
Profit before tax was recorded at Rs. 12.10 billion showing an increase of 41.61 percent, whereas profit before provisions and tax was reported at Rs. 14.28 billion. The Bank improved its net mark-up income by 38.65 percent. Deposits of the Bank increased by Rs. 138.02 billion bringing the total deposits to Rs. 1.04 trillion as on June 30, 2020 showing a growth of 15.27 percent. The advances of the Bank increased by 4.43 percent, bringing the total net advances to Rs. 510.31 billion as on June 30, 2020 as compared to 488.67 as on December 31, 2019.
Due to prudent financing strategies and sound risk management policies of the Bank, the non performing advances to gross advances ratio remained low and was recorded at 1.54 percent.
