Karachi, February 23, 2024 – In a remarkable financial performance, Habib Bank Limited (HBL) has reported an impressive 84 percent growth in its annual profit for the calendar year 2023.
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Aga Khan Fund Expresses Interest to Acquire HBL Shares Amounting Rs 3.47 Billion
Karachi, August 2, 2023 – The Aga Khan Fund for Economic Development (AKFED) has recently conveyed its intention to acquire shares of Habib Bank Limited (HBL) worth Rs 3.47 billion.
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WagonR Exchange Financing Offer by Pak Suzuki & HBL
Pak Suzuki and Habib Bank Limited (HBL) have joined forces to bring an unbeatable used car exchange financing offer for the popular WagonR model.
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Habib Bank Surpasses Expectations And Posts PKR 13.1 Billion As Profit in 2QCY23
Karachi, July 26, 2023 – Habib Bank Limited (HBL) has surpassed expectations by announcing a remarkable profit for the Second Quarter of Calendar Year 2023 (2QCY23).
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Habib Bank records 56% quarterly profit on back of high interest income
Habib Bank Limited (HBL), one of the largest banks in Pakistan, reported a strong financial performance for the first quarter ending March 31, 2023.
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HBL pays monetary penalties over Rs476 million during CY22
Habib Bank Limited (HBL) paid monetary penalties worth over Rs476 million during calendar year 2022, according to documents made available to Pkrevenue.com on Monday.
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HBL’s annual profit declines to Rs34.4 billion amid high taxation
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.
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Highest number of banking complaints filed against HBL in CY22
Aggrieved with banking services, customers have filed the highest number of complaints against Habib Bank Limited (HBL) – the largest bank in Pakistan – during the year 2022.
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HBL announces fall in net profit to Rs23.63 billion in nine months
Habib Bank Limited (HBL) on Wednesday announced 12.42 per cent decline in net profit to Rs23.63 billion for nine months period ended September 30, 2022 as compared with Rs26.98 billion in the same period of the last year.
Earnings per share (EPS) fell to Rs15.95 for the period as compared with Rs18.21 in the same period of the last year, according to consolidated financial accounts submitted to Pakistan Stock Exchange (PSX).
Board of Directors of Habib Bank Limited met on October 26, 2022 to approve the financial results for nine months and third quarter ended September 30, 2022. The board recommended an interim cash dividend for the third quarter ended September 30, 2022 at Rs1.50 per share i.e. 15 per cent. This is in addition to the interim cash dividend already paid at Rs3.75 per share i.e. 37.5 per cent.
READ MORE: HBL says allegations meritless
The decline in net profit of the bank may be attributed to massive increase in tax payment during the period. HBL paid an amount Rs31.97 billion as income tax during January – September 2022 as compared with Rs19.39 billion in the corresponding period of the last year.
Net mark-up / interest income of the bank grew to Rs116.04 billion in nine months period ended September 30, 2022 when compared with Rs97.15 billion in the same period of the last year.
READ MORE: HBL comes under scrutiny for assisting terror organizations
The bank booked huge earnings from foreign exchange income. The foreign exchange income of the bank sharply increased to Rs12.72 billion during January – September 2022 as compared with Rs2.91 billion in the same period of the last year.
However, the bank incurred massive loss from derivatives which recorded at Rs3.41 billion during the period under review as compared with Rs77 million in the same period of the last year.
Total income of the bank increased to Rs151.64 billion for nine months ended September 30, 2022 when compared with Rs122.87 billion in the same period of the last year.
Operating expenses of HBL rose to Rs90.93 billion during first nine months of the year 2022 when compared with Rs70.01 billion in the same period of the last year.
The bank declared profit before tax at Rs59.19 billion for nine months period ended September 30, 2022 when compared with Rs51.87 billion in the corresponding period of the last year.
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HBL says allegations meritless
KARACHI: Habib Bank Limited (HBL) on Friday issued a clarification related to the news published a day earlier related to supporting terror financing.
In a communication sent to Pakistan Stock Exchange (PSX), the bank said that the allegations in the complaints – which have been pending in the US court for more than two years – are meritless, and HBL is contesting them fully and vigorously.
The public record is clear that the HBL is unwavering in its commitment to combating the financing of terrorism.
“HBL’s extensive global implementation of anti-money laundering and counter-compliance controls is well documented and has been highly successful and lauded by regulators around the world,” it added.
HBL’s preliminary motion was successful in two aspects: The Court dismissed the primary liability claims and narrowed the case substantially. The court also stated that the secondary liability claims will be evaluated for dismissal upon following due legal proceedings, and no judgment was passed by the court on the matter.
“Indeed, the court specifically invited HBL to renew its motion to dismissal all remaining claims for lack of jurisdiction after the parties have exchange certain factual information concerning jurisdiction.”
Moreover, HBL proactively initiated a business transformation program, in early 2018, around its control and compliance process and system to adhere to international standards.
“The bank has made investments in management time and resources to further strengthen its AML and CFT protocols by partnering with global experts in this field,” HBL added.
The bank is committed to adhere to the highest standards of compliance with the international and local laws and regulations.