HBL’s H1 profit up 10pc

KARACHI: Habib Bank Limited (HBL) on Monday reported a 10 per cent increase in its half-year net profit, due to an increase in interest earned income.

In a statement to the Pakistan Stock Exchange (PSX), the bank reported a net profit of Rs29.057 billion for the half year that ended June 30, up from Rs26.34 billion during the same period the previous year.

The bank also announced an interim cash dividend of Rs4 a share, which is in addition to the interim cash dividend already paid at Rs4 per share.Earnings per share came in at Rs20.18 a share, compared with Rs17.86 a share last year.

The bank said its interest earned income for the half year rose to Rs407.55 billion, compared with Rs319.2 billion during the same period a year earlier. Interest expensed income also remained higher at Rs285.99 billion from Rs205.24 billion a year ago.

For the quarter that ended June 30, the bank reported a net profit of Rs14.01 billion, up from Rs13.08 billion during the same quarter last year. EPS for the quarter was recorded at Rs9.81 against Rs8.86 a share last year.