BAHL’s pre-tax profit hits Rs9.92bln

KARACHI: Bank Al Habib (BAHL) on Thursday declared a pre-tax profit of Rs9.92 billion for the nine months period ended September 30, 2018, as compared to Rs10.38 billion for the corresponding period.

“Profit after tax for the nine months period ended September 30, 2018 was recorded at Rs5.90 billion against Rs6.25 billion for the corresponding period last year,” a bourse filing said.

It added that bank’s profit (excluding capital gains) grew by 27 percent compared to corresponding period last year. The bank also announced earnings per Share (EPS) of Rs5.31/share.

The bank said its loan book increased by Rs110.10 billion, standing at Rs449.93 billion as on September 30, 2018, showing growth of 32.40 percent in net advances, compared to the last year.

“The bank’s Advances to Deposits Ratio (ADR) now stands at 58.52 percent as it has improved its market share in terms of loan book,” it added. The bank said prudent financing strategies and sound risk management policies resulted in a decrease in non-performing to gross advances ratio to 1.12 percent as at September 30, 2018 as against 1.52 percent as on December 31, 2017.