HBL announces 287 percent surge in half year profit

KARACHI: Habib Bank Limited (HBL) on Friday declared massive increase of 287 percent in half-year profit tax for the period ended June 30, 2020.

The bank, one of the largest bank in Pakistan, declared Rs15.188 billion profit after tax for the period January 01 to June 30, 2020 as compared with Rs3.927 billion in the same period of the last fiscal year.

The bank also declared earning per share of Rs10.32 for the period under review as compared with EPS Rs2.53 declared in the same period of the last year.

The net mark-up income/interest income of the bank surged by 32 percent to Rs63.075 billion during first half for the period ended June 30, 2020. The bank declared Rs47.7 net interest income in the same period of the last year.

The bank also paid income tax amounting Rs10.64 billion during January – June 2020 as compared with Rs5.96 billion in the corresponding period of the last fiscal year.

The HBL declared Rs11.08 billion net profit for the quarter April – June 2020 as compared with Rs749 million declared in the same quarter of the last year.

Net interest income of the bank increased to massive Rs10.86 billion during the quarter under review as compared with Rs1.3 billion in the corresponding period of the last year.

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