Habib Metro Bank has started off its year with a handsome 22 percent growth in profits in the first quarter of 2018, surging to Rs. 1.573 billion from Rs. 1.288 billion compared to last year.
According to the financial statement, the bank earned Rs. 3.45 billion from interest income and non-interest avenues also grew to Rs. 1.57 billion.
However, the bank’s expenses also grew to Rs. 2.35 billion in the first quarter of 2018, up from Rs. 1.99 billion in the last year of the same period.
The bank’s overall revenue reached Rs. 5.03 billion in the first quarter of 2018 compared to Rs. 4.45 billion in the same period of last year. Its share price also went up from 1.23 to 1.50.
Habib Metro Bank currently operates with an expanding nationwide network of over 320 branches in more than 90 cities across Pakistan.
Habib Metro Bank Gets New CEO & President
Mohsin Ali Nathani assumed the office of CEO and President Habib Metro Bank in place of Sirajuddin Aziz.
Mohsin is an experienced banker having a sound expertise of banking in the Pakistani market. He served two banks —Standard Chartered and Barclays Bank – in Pakistan and remained a key banker at CitiBank N.A Pakistan.
His predecessor, Sirajuddin Aziz, was promoted as CEO of Group Financial Institutions at the Habib Bank AG Zurich.