Habib Bank pays penalty of Rs42.2 million to SBP

Habib Bank pays penalty of Rs42.2 million to SBP

KARACHI: Habib Bank Limited (HBL) has paid monetary penalty of Rs42.2 million to State Bank of Pakistan (SBP) for violation of various regulatory provisions.

According to HBL it paid Rs42.2 million during first quarter (January – March) of 2021 against penalties imposed by the SBP. The bank had paid around Rs231.6 million as monetary penalties to SBP in the same quarter of the last year.

A total amount of Rs42.23 million was paid by the bank as penalties, including those imposed by other regulatory bodies. The bank had paid around 232.19 million as total penalty for the same quarter of the last year.

The bank had paid an amount of Rs320.79 million as penalty for various regulatory violations during the year ended December 31, 2020.

For the year ended December 31, 2020, the bank paid the amount of Rs320.79 million as penalties for violation of various regulations.

However, the payment of penal amount reduced by 33 percent when compared with Rs480.56 million paid in the preceding year.

The bank paid an amount of Rs296 million against fine imposed by the SBP for the year ended December 31, 2020. The latest amount of monetary penalty has been reduced when compared with Rs476 million that was imposed by the SBP on the bank during the preceding year.

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