2016 earnings: HBL profit surges to Rs25.8 billion

HBL today declared a consolidated profit after tax of Rs25.8 billion for the first nine months of 2016, with earnings per share of Rs17.47, a press release issued by the bank stated. Along with the results, the Bank declared a third quarter dividend of Rs3.50 per share (35%), it said. It added that HBL’s balance sheet has grown by 7% over December 2015 to reach Rs2.4 trillion. “Domestic CASA deposits increased by 9% and the CASA mix improved to 89% as at September 30, 2016. The domestic deposit mix continued to improve, and current accounts now form 35.6% of deposits. Average current accounts for the first nine months of 2016 increased by 19% over the comparable period of 2015, enabling HBL to reduce its cost of domestic deposits.”

Published in The Express Tribune, October 21^st, 2016.