HBL’s Profit Increases by 41% in 2018

HBL has declared a consolidated profit after tax of Rs 12.4 billion for the year ended December 31, 2018, a growth of 41% over 2017 with earnings per share at Rs 8.22 compared to Rs 5.79 in 2017.

Profit before tax for the year was Rs 21.6 billion.

HBL also became the first bank in Pakistan to cross Rs 1.0 trillion in total net advances. Along with the results, the Board declared a dividend of Rs 1.25 per share (12.50%), bringing the total dividend for the year 2018 to Rs 4.25 per share.

HBL’s core domestic business shows a positive trend in key areas with continued accelerated loan growth of over 30%, adding Rs 200 billion in 2018 alone. The Bank’s Consumer loans crossed the Rs 50 billion mark while SME lending grew by 11% to reach Rs 72 billion. Total deposits in Pakistan reached Rs 1.9 trillion, as HBL maintained its leadership position with a nearly 14% share of the market.

The Bank added Rs 81 billion in current deposits, which now constitute 37.6% of the mix, with average current deposits growing at an even more impressive rate of 15%. The excellent growth in key drivers and a consequent Rs 183 billion growth in the average balance sheet resulted in a 2% growth in domestic net interest income.

Another strong recovery performance led to a Rs 1.4 billion reversal of credit provisions in the domestic book.

HBL has created history by becoming the first bank to Digitally Disburse personal loans. A frictionless digital process allows the customers to receive the loan in a matter of hours. Total disbursements through this first-of-its-kind digital offering have now crossed Rs 1 billion.

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