HBL declared a consolidated profit after tax of Rs16 billion for the first half of 2016, with earnings per share rising to Rs10.86. Along with the results, the bank declared a second quarter dividend of Rs3.50 per share (35%). HBL’s balance sheet has grown by 6% over December 2015 to reach Rs2.4 trillion. Domestic deposits increased by 9% and the Bank’s market share rose to 14.3%. The deposit mix continued to improve, and current accounts now form 34.7% of total deposits. Average current accounts for the first half of 2016 increased by Rs78 billion compared to H1 2015, enabling HBL to reduce its cost of domestic deposits to 2.8%. With average domestic loans also growing across all segments, the bank was able to grow net interest income by 6% to Rs41.4 billion. Fees and commissions continued their strong growth, rising by 15% to Rs9.3 billion for H1 2016.
Published in The Express Tribune, August 21st, 2016.
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