Bank AL Habib posts profit of Rs4.56b

KARACHI: Bank AL Habib Limited has continued its growth momentum and declared a profit after tax of Rs4.56 billion for the half year ended June 30, 2017 as compared to Rs3.79 billion for the corresponding period of last year, showing a growth of 20.4% even in the backdrop of lower interest rates. Profit before tax is recorded at Rs7.67 billion against Rs6.84 billion with a healthy growth of 12.1%. The bank recorded earnings per share (EPS) of Rs4.10. A significant achievement for the bank during the half year was impressive increase in the financing portfolio of the bank, which increased by 18.74% from Rs261.4 billion to Rs310.4 billion. Advance to deposits ratio of the bank now stands at 47.59%, as compared to 44.75% in Dec-2016. Coverage ratio of non-performing loans (NPLs) has also improved to 140.10% from 136.95%.

Published in The Express Tribune, August 24^th, 2017.

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