KARACHI: Habib Bank Limited (HBL) on Thursday declared a consolidated profit after tax of Rs9.1 billion for the first quarter of 2017, with earnings per share of Rs6.16. Along with the results, the bank declared a dividend of Rs3.5 per share (35%). HBL’s balance sheet has grown by 2% over December 2016 to reach Rs2.6 trillion. Despite a decline in the market, the bank’s deposits continued to grow, with market share rising to 14.2% and total deposits crossing Rs1.9 trillion. Domestically, HBL grew its CASA deposits by Rs30 billion during the quarter and the CASA ratio improved to 87.1%. Meanwhile, average domestic current accounts increased by 16% compared to Q1 2016, enabling the bank to further reduce its cost of deposits.
Published in The Express Tribune, April 21st, 2017.