Habibmetro Bank H1 2021 profit increases by 41%

Staff Reporter

Habibmetro Bank posted a profit-before-tax of Rs. 9.7 billion for the first half of 2021, with its profitability increasing 41.4% year-on-year.

This boost in profitability was driven by strong performance in core earnings as the net interest margin improved by 34%.

he Bank’s return to shareholders also increased significantly with Earnings Per Share increasing by 51% year-on-year to Rs. 5.94 (compared to Rs. 3.93 in H1 2020). The Board Of Directors, in its recently held meeting, approved an interim cash dividend of 20% (Rs. 2 per share).

Total deposits of the Bank increased to Rs. 764 billion at the end of June 2020, posting a growth of 27.7% year-on-year.

Meanwhile, current deposits increased to Rs. 286 billion, growing by 29% year-on-year. CASA increased to Rs. 491 billion with a growth of 28.9% year-on-year. Gross Advances amounted to Rs. 371.4 billion, increasing by 19.7% year-on-year.

The Bank’s total assets increased to Rs. 1.2 trillion, posting a growth of 27.4% year-on-year, while trade finance business continued its growth trajectory in the reporting period.

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