Observer Report Karachi
HABIBMETRO Bank posted a profit-before-tax of Rs. 4.8 billionforthe first quarter of 2021, with its profitability increasing 88% year-on-year.
This boost in profitability was driven by strong performance in core earnings as the net interest margin improved by 71%.
The Bank’s return to shareholders also increased significantly with Earnings Per Share increasing by 111% year-on-year to Rs. 3.08(compared to Rs. 1.46 in Q1 2020).
Total deposits of the Bank amounted to Rs. 715 billion and increased by 24% year-on-yearand 5% from December 2020 position.
CA and CASA deposits reached Rs. 237 billion and Rs. 441 billionrespectively, with a growth of 7% each from 2020 year-end levels.
Gross Advances amounted to Rs. 366 billion with a growth of 23% year-on-year and 10% from December 2020 position.
