HBL declares profit after tax of Rs9.9 billion

KARACHI: HBL declared a consolidated profit after tax of Rs9.9 billion for the first nine months of 2018, with earnings per share of Rs6.57. Along with the results, the board declared a dividend of Re1 per share (10%), bringing the total dividend for the nine months of 2018 to Rs3 per share.

Profit before tax for the nine months was Rs17.7 billion. The consolidated capital adequacy ratio (CAR) as on September 30, 2018 was over 17%, an increase of 105 basis points (bps) over December 2017, while the bank’s tier-1 CAR rose by 75 bps to 12.74%. HBL’s core domestic business remains robust. Total domestic deposits increased from December 2017 levels to Rs1.8 trillion, maintaining our leading market share at over 14%.

In the first nine months of 2018, the bank added Rs101 billion in domestic CASA deposits, led by a 10% growth in current accounts. The ratio of current accounts and CASA both continued to improve, rising further over June 2018 to 37.3% and 88.1% respectively. HBL’s consistent deposit growth momentum resulted in average current accounts showing an impressive increase of Rs80 billion, a growth of 15% compared to the first nine months of 2017.

Published in The Express Tribune, October 26^th, 2018.

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