HMB profit down 2.5 percent

Habib Metropolitan Bank (HMB) has earned a net profit of Rs2.32 billion for the half-year ended June 30, 2017, down 2.5 percent as compared to the profit of Rs2.383 billion during the same period of the last year, a bourse filing said on Friday.

The earnings per share (EPS) stood at Rs2.18 as against Rs2.27 during the same period of the last year. “The bank has not announced any dividends in line with its historic dividend policy and our expectations,” an analyst at Taurus Securities said.

The net interest income for the period surged 18 percent to Rs6.975 billion as compared to Rs5.908 billion last year. Total non-interest income; however, declined 21 percent to Rs3.349 billion as compared to Rs4.24 billion last year.

For the quarter ended June 30, 2017, HMB posted a net profit of Rs998.612 million, translating into EPS of 92 paisas as against the profit of Rs724.596 million and EPS of 69 paisas during the corresponding period of the last year.