Bank Al-Habib Posts Rs. 4.5 Billion in Profits for H1 2017

Bank Al Habib posted a profit-after-tax of Rs 4.57 billion in the six-month period ended June 30, 2017, up from Rs 3.778 billion in the same period of the previous year.

Earnings per share amounted to Rs 4.11 during the six-month period, up by 80 % compared to Rs 3.40 in Jan-Jun of 2016. The total mark up earned was on a flat note similar to the last year’s mark up earned as its profitability surges.

Its three-month profit for the period ended June 30, 2017, increased to Rs 2.259 billion, up from Rs 1.25 billion in the three-month period of the previous year. Earnings per share for the April-June period amounted to Rs2.03, compared to Rs 1.13 for the same three-month period of the previous year. Increase in administrative expenses dented its profitability in 2016, offsetting the increase in income.

No cash dividend or Bonus shares were announced by the Bank.

At the time of filing this report, Bank Al Habib’s script was trading at Rs 58 with Rs 2.49(+Rs 4.49%) gain.

PACRA

The Pakistan Credit Rating Agency (PACRA) has maintained long-term and short-term entity ratings of Bank AL Habib Limited (BAHL) at “AA+” (Double A Plus) and “A1+” (A One Plus), respectively. These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.

Bank Al Habib’s Assets

The Bank’s assets have grown to more than Rs, 750 Billion, with a network of 627 branches and sub-branches, a Wholesale Branch in the Kingdom of Bahrain, Seychelles and Malaysia and Representative Offices in Dubai, Istanbul and Beijing.



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