Bank Al-Habib. PHOTO: FILE
KARACHI: The board of directors of Bank AL Habib Limited announced financial results for the nine-month period ended September 30, 2018. The bank declared a pre-tax profit of Rs9.92 billion for the nine-month period as compared to Rs10.38 billion for the corresponding period last year. Profit after tax for the period was recorded at Rs5.9 billion against Rs6.25 billion for the corresponding period of previous year.
The bank’s profit (excluding capital gains) grew by 27% compared to the corresponding period last year. Earnings per share (EPS) of the bank were recorded at Rs5.31. The bank’s loan book increased by Rs110.1 billion, standing at Rs449.93 billion as on September 30, 2018, showing a growth of 32.4% in net advances compared to the last year’s end.
Advances-to-deposits ratio (ADR) of the bank now stands at 58.52%. The bank has improved its market share in terms of loan book. Prudent financing strategies and sound risk management policies resulted in a decrease in the non-performing-to-gross advances ratio to 1.12% as on September 30, 2018 against 1.52% as on December 31, 2017. Coverage ratio of non-performing loans also increased to 146.94% as on September 30, 2018 from 144.32% on December 31, 2017.
Published in The Express Tribune, October 19th, 2018.
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