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WEEKLY
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| HBL profit rises 10pc |
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Saturday, April 25, 2009
By our correspondent
KARACHI: Habib Bank Limited (HBL) reported an unconsolidated profit after tax at Rs3.5 billion for the first quarter of current calendar year 2009. This is over 10 per cent higher than Rs3.9 billion profit the Bank declared in the same period last year.
The Board of Directors of Bank, however, recommended no dividend, bonus, rights or other entitlement for shareholders, according to a notification HBL dispatched to KSE.
The net earnings of the Bank on account of mark-up, non-mark-up and earned interest surged to Rs20.2 billion from Rs15.8 billion in corresponding period in 2008 - witnessing a growth of about 28 per cent on year-on-year basis.
The provisions and write offs of Bank surged to Rs1.3 billion against over Rs410.7 million recorded in the corresponding period, recording an increase of 209.5 per cent on yearly basis.
While total expenditure of Bank - including provisions and write offs - surged to Rs14.7 billion as compared to over Rs10 billion in 2008, surging by 47 per cent on yearly basis.
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ISSN 1563-9479 
