Hbl Declares Consolidated Profit after Tax of Rs 9.9 Billion

Karachi: HBL has declared a consolidated profit after tax of Rs 9.9 billion for the first nine months of 2018, with earnings per share of Rs 6.57. Along with the results, the Board has declared dividend of Rs 1.00 per share (10%), bringing the total dividend for the nine months of 2018 to Rs 3.00 per share. Profit before tax for the nine months of 2018 was Rs 17.7 billion.

Total domestic deposits increased from December 2017 levels to Rs 1.8 trillion, maintaining its leading market share at over 14%. In the first nine months of 2018, the Bank added Rs 101 billion in domestic CASA deposits, led by a 10% growth in current accounts. The ratio of current accounts and CASA both continued to improve, rising further over June 2018 to 37.3% and 88.1% respectively. HBL’s consistent deposit growth momentum resulted in average current accounts showing an impressive increase of Rs 80 billion, a growth of 15% compared to the first nine months of 2017.

HBL’s domestic loan book increased further over June 2018, reaching Rs 819 billion. Bank’s well-constructed Consumer business reached Rs 50 billion landmark in consumer loans. These positive developments on the domestic Balance Sheet contributed to a 2% improvement in domestic net interest income.

However, with a reduction in the Bank’s international businesses, total net interest income declined marginally by 1% to Rs 61.1 billion. The strong recovery performance continued, as the Bank recorded a reversal of Rs 144 million during the quarter. Total reversals against loans are now Rs 388 million for the nine months of 2018, compared to provision of Rs 313 million in 9M 2017.***