Habib Metro Bank has reported the highest-ever profit of over Rs. 10 billion in the three quarters of 2022.
According to the financial statement, the bank’s profit surged to Rs. 10.25 billion during the period of January to September 2022 as compared to Rs. 9.90 billion reported in a similar period of the last calendar year, showing a modest growth of 3.3 percent on a year-on-year basis.
Habib Metro Bank is one of Pakistan’s top ten most profitable banks. Its profit of the said period stood very close to its competitor, Askari Bank which reported a profit of Rs. 10.7 billion in a similar period.
The profit growth was mainly driven by the interest income which surged to Rs. 27 billion in three quarters of 2022 as compared to Rs. 21.4 billion reported in a same similar period of the last financial year.
The bank’s non-markup income also grew to Rs. 10.5 billion this year Rs. 7.9 billion recorded in the last year.
Overall, the expenses of the bank also reported a quantum jump to stand at Rs. 16.2 billion this year as compared to Rs. 12.1 billion reported in a corresponding period of the last year.
The bank earnings per share surged slightly to Rs. 9.79 from Rs. 9.45. There was no announcement of the dividends for the shareholders in the third quarter’s announcement of financial results.
