BAHL declares pre-tax profit of Rs7.08b

KARACHI: The board of directors of Bank AL Habib Limited announced financial results for the half year ended June 30, 2018. The bank declared a pre-tax profit of Rs7.08 billion for the half year as compared to Rs7.52 billion for the corresponding period of previous year. After-tax profit for the half year ended June 30, 2018 was recorded at Rs4.20 billion against Rs4.41 billion for the corresponding period of last year. The bank’s profit (excluding capital gains) grew 35.36% compared to the corresponding period of last year. Earnings per share were recorded at Rs3.78. Total assets increased 9% reaching Rs1 trillion as on June 30, 2018 mainly due to expansion of the bank’s loan book by Rs105.34 billion, standing at Rs445.17 billion as on June 30, 2018, showing a growth of 31% in net advances, compared to the last year’s end. Advances-to-deposits ratio (ADR) of the bank stood at 59.45%. The bank has improved its market share in terms of loan book.

Published in The Express Tribune, August 17^th, 2018.

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