HBL declares profit after tax of Rs8.1b

KARACHI: HBL declared a consolidated profit after tax of Rs8.1 billion, with earnings per share for 1HCY18 at Rs5.42. Along with the results, the board declared a dividend of Rs1 per share (10%), bringing the total dividend for the six months of 2018 to Rs2 per share. Profit before tax for the six months of 2018 was Rs14.1 billion. The consolidated capital adequacy ratio (CAR) as on June 30, 2018 crossed the 17% mark, rising to 17.1% and the tier-1 CAR rose by 79 basis points over December to 12.8%. During the quarter, the bank's credit ratings were also re-affirmed by JCR-VIS at AAA/A-1+ for long term and short term respectively with the rating of its subordinated debt at AA+. HBL's core domestic business continues on a strong trajectory, with steady growth in key drivers. Total domestic deposits increased by 8% to nearly Rs1.9 trillion and leading market share further increased to 14.4%.