Pakistan

HBL's profit decreases to Rs1.6b

Consolidated profit before tax for this period is Rs18.8 billion, with earnings per share of Rs0.87

Press Release October 21, 2017

Consolidated profit before tax for this period is Rs18.8 billion, with earnings per share of Rs0.87. PHOTO: REUTERS

KARACHI: Habib Bank Limited's consolidated profit after tax for the nine months ended September 30, 2017 has decreased to Rs1.6 billion as a result of the $225 million settlement payment made to the New York State Department of Financial Services.

Consolidated profit before tax for this period is Rs18.8 billion, with earnings per share of Rs0.87. As a result of the settlement payment, the consolidated Tier-1 CAR as at September 30, 2017 has reduced to 10.6%, with the total CAR at 13.6%.

HBL settlement pulls market back, index ends losing streak

Excluding the impact of the settlement payment, HBL's consolidated profit after tax for the first nine months of 2017 is Rs25.3 billion and pre-tax profit is Rs42.5 billion, both 2% lower than for the same period in 2016.

Published in The Express Tribune, October 21^st, 2017.

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