Habib Bank Limited’s financial result for the nine months ended September 30, 2011

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Karachi: The Board of Directors of Habib Bank Limited (HBL) at their meeting held on October 15, 2011 at Karachi are pleased to announce the results for the nine months ended 30 September, 2011, which are attached as Annexure A and B, respectively.

The Board of Directors have declared a half year Interim Cash Dividend of Rs.31- per share i.e.30% (Thirty percent).

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Thursday, November 3, 2011.

The Share Transfer Books of the Bank will be closed from November 1, 2011 to November 11, 2011 (both days inclusive) transfers received at Bank’s shares registrar M/s THK Associates (Pvt.) Ltd., Ground Floor, State Life Building # 3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on November 3, 2011 will be treated in time for the purpose of above entitlement to the transferees.

The Commissioner Enforcement and Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building Jinnah Avenue, Islamabad

Annexure A

Condensed Interim Consolidated Profit and Loss Account for the Nine Months Ended September 30, 2011

 

	January 01 to September 30 2011	January 01 to September 30 2010	July 01 to September 30 2011	July 01 to September 30 2010
Mark-up Interim /interest earned	71,564,734	60,001,649	25,458,299	20,326,535
Non Mark-up/ interest income	10,788,261	9,002,718	3,175,333	2,696,691
	———-	———-	———-	———-
	82,352,995	69,004,367	28,633,632	23,023,226
Mark-up/return / interest expensed	(30,531,663)	(25,599,319)	(11,259,892)	(8,463,472)
Provisions and write offs	(5,623,708)	(4,864,124)	(1,007,992)	(1,647,142)
Operating expenditure	(22,062,820)	(19,158,191)	(7,682,952)	(6,294,324)
	———-	———-	———-	———-
	(58,218,191)	(49,621,634)	(19,950,836)	(16,404,938)
	———-	———-	———-	———-
Profit before taxation	24,134,804	19,382,733	8,682,796	6,618,288
Taxation	(8,412,333)	(7,212,514)	(2,970,300)	(2,313,234)
	———-	———-	———-	———-
Profit after taxation	15,722,471	12,170,219	5,712,496	4,305,054
	———-	———-	———-	———-
Attributable to:
Equity holders of the Bank	15,610,231	12,035,627	5,702,939	4,248,481
Minority interest	41,931	64,189	17,705	30,819
Minority investor of HBL Funds	70,309	70,403	(8,148)	25,754
	———-	———-	———-	———-
	(Rupees)
Basic and Diluted earnings per share	14.16	10.92	5.17	3.86

 

Condensed Interim Unconsolidated Profit and Loss Account for the Nine Months Ended September 30, 2011

 

	January 01 to	January 01 to	July 01 to	July 01 to
	September 30	September 30	September 30	September 30
	2011	2010	2011	2010
	(Rupees in ‘000’)
Mark-up / return / interest earned	70,133,837	59,016,461	24,887,364	19,980,612
Non Mark-up / interest income	9,307,993	7,903,936	2,778,698	2,360,422
	———-	———-	———-	———-
	79,441,830	66,920,397	27,666,062	22,341,034
	———-	———-	———-	———-
Mark-up/return/ interest expensed	(30,087,750)	(25,420,048)	(11,081,234)	(8,403,062)
Provisions and write offs	(6,291,927)	(5,117,135)	(1,589,420)	(1,886,018)
Operating expenditure	(20,716,953)	(18,218,623)	(7,162,541)	(5,999,913)
	———-	———-	———-	———-
	(57,096,630)	(48,755,806)	(19,833,195)	(10,288,993)
	———-	———-	———-	———-
Profit before taxation	22,345,200	18,164,591	7,832,867	6,052,041
Taxation	(7,910,080)	(6,871,765)	(2,685,462)	(2,182,519)
	———-	———-	———-	———-
Profit after taxation	14,435,120	11,292,826	5,147,405	3,869,522
	———-	———-	———-	———-
	(Rupees)
Basic and Diluted earnings per share	13.10	10.25	4.67	3.51

 

For more information, contact:
Habib Bank Limited
Corporate Secretariat,
12th Floor, HBL Plaza,
I.I. Chundrigar Road Karachi.
P: 021-2440991
F: 021-2415623