Habib Bank declares Rs26.44 billion 9-month profit

Habib Bank declares Rs26.44 billion 9-month profit

KARACHI: Habib Bank Limited (HBL) on Friday announced Rs26.44 billion as profit after tax for nine month period ended September 30, 2021.

The profit after tax of the bank was Rs24.98 billion in the same period of the last year.

The earning per share of the bank was at Rs18.03 for the nine months period ended September 30, 2021 as compared with Rs17.03 EPS.

Total income of the bank during January – September 2021 fell to Rs112 billion as compared with Rs113 billion n the same period of the last year.

Net markup income of the bank fell to Rs90.01 billion during the period under review as compared with Rs92.96 billion in the same period of the last year. Non markup income increased to Rs22.02 billion as compared with Rs20 billion.

Operating expenses were at Rs62.04 billion as compared with Rs62.77 billion.

Provisioning and write-offs fell to Rs3.9 billion during January – September 2021 as compared with Rs7.28 billion in the same period of the last year.

On a quarterly basis the bank declared a decline of 11.11 per cent in profit after tax (PAT) for the quarter ended September 30, 2021.

According to financial statement, the bank recorded Rs8.96 billion as net profit for the quarter July – September 2021 as compared with Rs10.08 billion in the same quarter of the last fiscal year.

Total income of HBL recorded 6.33 per cent decline to Rs40.40 billion for the quarter under review as compared with Rs43.13 billion in the same quarter of the last year.

Net Markup Income of the bank posted a decline of 9.6 per cent to Rs32.28 billion for the quarter ended September 30, 2021 as compared with Rs35.71 in the same quarter of the last year.

However, non-markup income registered a growth of 9.29 per cent to Rs8.11 billion as compared with Rs7.42 billion.

Operating expenses of the bank grew to Rs23.161 billion for the quarter ended September 30, 2021 as compared with Rs22.612 billion in the same quarter of the last year.

Similarly, the provisioning and write-offs fell to Rs1.75 billion for the quarter ended September 30, 2021 as compared with Rs3.04 billion in the same quarter of the last year.

The earning per share for the quarter fell to Rs6.17 as compared with Rs6.85.

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