Bank AL Habib declares pre-tax profit of Rs14.26b
As per the results, the bank declared a pre-tax profit of Rs14.26 billion for the year ended December 31, 2018 compared to Rs13.89 billion in the corresponding period of previous year.
Profit after tax for the year was recorded at Rs8.42 billion against Rs8.50 billion last year. Earnings per share (EPS) of the bank were recorded at Rs7.57.
The bank’s total assets increased by 11.03%, reaching the mark of Rs1 trillion during the year ended December 31, 2018, mainly due to expansion in the bank’s loan book by Rs138.38 billion, standing at Rs478.21 billion as on December 31, 2018, showing outstanding growth of 40.72% in net advances as compared to the same period of last year.
Published in The Express Tribune, January 31st, 2019.
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