For the quarter ended March 31, Habib Bank Limited recorded a consolidated profit before tax of Rs14.5 billion. Over the first quarter, profit after tax increased to Rs8.6 billion.
In Q1FY21, the bank’s earnings per share increased from Rs2.79 to Rs5.68. The bank’s total deposit base was Rs2.8 trillion at the end of the quarter, with CA and CASA ratios of 35.1 percent and 83.1 percent, respectively.
HBL’s market-leading consumer sector continues to outperform in a variety of ways, with loans reaching nearly Rs85 billion and gross advances remaining at Rs1.2 trillion as of Dec 2020. The bank’s total non-fund income increased by 42 percent to Rs8.2 billion in Q1FY20. Fees and commissions increased by 25% in the first quarter of FY20, to Rs5.9 billion.
After the launch of the Roshan Digital Account (RDA), a special investment account for overseas Pakistanis, over 21,000 Pakistanis from 130 countries have opened RDA accounts and remitted over $130 million in just three months.
With the addition of a dedicated HBL Islamic Commercial Centre, Trade Hub, and Branch in Karachi, HBL’s Islamic Banking now has over 911 branches nationwide providing Shariah compliant financial services.
HBL also became the first bank in Pakistan to enter a partnership with Akhuwat Foundation, to support the government’s vision of providing affordable housing units.
