Corporate Corner: HBL’s profit increases 41% to Rs12.4b

KARACHI: HBL declared a consolidated profit after tax of Rs12.4 billion for the year ended December 31, 2018, a growth of 41% over 2017 with earnings per share at Rs8.22 compared to Rs5.79 in 2017. Profit before tax for the year was Rs21.6 billion. HBL also became the first bank in Pakistan to cross Rs1 trillion in total net advances. Along with the results, the board declared a dividend of Rs1.25 per share (12.50%), bringing the total dividend for the year 2018 to Rs4.25 per share. HBL’s core domestic business shows a positive trend in key areas with continued accelerated loan growth of over 30%, adding Rs200 billion in 2018 alone. The bank’s consumer loans crossed the Rs50 billion milestone while SME lending grew by 11% to reach Rs72 billion. Total deposits in Pakistan reached Rs1.9 trillion, as HBL maintained its leadership position with a nearly 14% share of the market.

Published in The Express Tribune, February 21^st, 2019.

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