Bank AL Habib’s six-month profit up 12.8%
Increase in administrative expenses dented its profitability in 2016, offsetting the increase in income
KARACHI:
Bank AL Habib posted a profit-after-tax of Rs3.786 billion in the six-month period ended June 30, 2016, up 12.8% from Rs3.356 billion in the same period of the previous year. Earnings per share amounted to Rs3.41 during the six-month period, compared to Rs3.02 in Jan-Jun of 2015. Its three-month profit for the period ended June 30, 2016 decreased to Rs1.251 billion, down 28.5% from Rs1.75 billion in the three-month period of the previous year. Earnings per share for the April-June period amounted to Rs1.13, compared to Rs1.57 for the same three-month period of the previous year. Increase in administrative expenses dented its profitability in 2016, offsetting the increase in income.
Published in The Express Tribune, August 18th, 2016.
Bank AL Habib posted a profit-after-tax of Rs3.786 billion in the six-month period ended June 30, 2016, up 12.8% from Rs3.356 billion in the same period of the previous year. Earnings per share amounted to Rs3.41 during the six-month period, compared to Rs3.02 in Jan-Jun of 2015. Its three-month profit for the period ended June 30, 2016 decreased to Rs1.251 billion, down 28.5% from Rs1.75 billion in the three-month period of the previous year. Earnings per share for the April-June period amounted to Rs1.13, compared to Rs1.57 for the same three-month period of the previous year. Increase in administrative expenses dented its profitability in 2016, offsetting the increase in income.
Published in The Express Tribune, August 18th, 2016.