Bank Al Habib Posts Decent Profits in Q3 2017

Bank Al Habib posted a profit-after-tax (PAT) of Rs 6.40 billion in the nine-month period that ended on September 30, 2017. PAT was up by 18.08% from Rs 5.42 billion in the same period of the previous year.

Earnings per share amounted to Rs 5.76 during the nine-month period, compared to Rs 3.40 in Jan-Sep of 2016.

During the quarterly period July-September 30, 2017, profits increased to Rs 1.84 billion, up 12.2% from Rs 1.64 billion in the three-month period of the previous year. Earnings per share amounted to Rs 1.66, compared to Rs 1.48 for the same three-month period of the previous year.

While it posted earning growth of 11% as net interest income grew by 9% in the third quarter which was due to strong volumetric growth. Capital gains also increased to Rs 270 million compared to Rs 9 million in the same period last year.

Non interest income of the bank improved by 74% YoY. Non-interest expense was up 21% due to higher admin expenditure.

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

Bank Al Habib’s share was closed at Rs 58.04 at the bourse on Tuesday.

The Pakistan Credit Rating Agency (PACRA) had 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.

DAWOOD HABIB GROUP, is the sponsor of Bank AL Habib Limited. The bank, together with its subsidiaries, provides banking products and services in Pakistan, the Middle East, the Asia Pacific, and Africa. It operates through Retail Banking, Commercial Banking, and Retail Brokerage segments.

The Bank’s assets have grown to more than Rs, 750 Billion, with a network of 627 branches and sub-branches across the country.

  • >