KARACHI: Habib Bank Limited (HBL) on Friday announced that its net annual profit has declined to Rs34.4 billion for the year ended December 31, 2023.
The bank recorded the profit after tax at Rs35.5 billion, according to consolidated results shared with the Pakistan Stock Exchange (PSX).
Earnings per share (EPS) of the bank was at Rs23.23 for the year under review as compared with previous year’s EPS at Rs23.88.
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Board of directors of the bank in its meeting held on February 24, 2023 recommended a final cash dividend for the year ended December 31, 2022 at Rs1.5 per share i.e. 15 per cent. This is in addition to the interim cash dividend already paid at Rs5.25 per share i.e. 52.5 per cent.
The bank announced net mark-up/interest income at Rs162.56 billion for the calendar year 2022 as compared with Rs131.42 billion in the preceding year.
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Total non mark-up / interest income also increased to Rs46.73 billion for the year ended December 31, 2022 as compared with Rs36.31 billion in the last year.
Out of non mark-up/interest income, the bank made significant foreign exchange income during the year. However, it incurred massive losses from derivatives to the tune of Rs2.62 billion during the year under review.
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The bank announced total income at Rs190.39 billion for the year 2022 as compared with Rs151.67 billion in the preceding year.
Operating expenses of HBL grew to Rs124.80 billion for the calendar year 2022 from Rs95.78 billion in the preceding year.
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The bank paid income tax to the tune of Rs42.63 billion during the year ended December 31, 2022 when compared with Rs26.52 billion in the last fiscal year.
