Habib Bank Limited’s financial results for the half year ended June 30, 2011

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Karachi: The Board of Directors of Habib Bank Limited (HBL) at their meeting held on August 19, 2011 at Karachi are pleased to announce the results for the half year ended June 30, 2011, which are attached as Annexure A and B respectively.

 

The Board of Directors have not recommended any dividend, bonus, rights or other entitlement for shareholders based on the result of Half year ended June 30, 2011.

Habib Bank Limited                                                                 Annexure A

 

Condensed Interim Consolidated Profit and Loss Account for the Six Months Ended June 30, 2011.

 

	January 01 to June 30 2011	January 01 to June 30 2010	April 01 to June 30 2011	April 01 to June 30 2010
	(Rupees in `000)
Mark-up / return / interest earned	46,106,435	39,675,114	23,586,234	20,243,836
Non Mark-up / interest income	7,612,928	6,306,027	4,135,519	3,237,382
	———-	———-	———-	———-
	53,719,363	45,981,141	27,721 ,753	23,481,218
Mark-up / return / interest expensed	(19,271,771)	(17,135,847)	(10,010,732)	(8,518,855)
Provisions and write offs	(4,615,716)	(3,216,982)	(2,322,145)	(1,765,058)
Operating expenditure	(14,379,868)	(12,863,867)	(7,628,214)	(6,686,661)
	———-	———-	———-	———-
	(38,267,355)	(33,216,696)	(19,961,091)	(16,970,574)
	———-	———-	———-	———-
Profit before taxation	15,452,008	12,764,445	7,760,662	6,510,644
Taxation	(5,442,033)	(4,899,280)	(2,75l,048)	(2,460,499)
	———-	———-	———-	———-
Profit after taxation	10,009,975	7,865,l65	5,009,614	4,050,145
	———-	———-	———-	———-
Attributable to:
Equity holders of the Bank	9,907,292	7,787,146	4,951,041	4,037,879
Minority interest	24,226	33,370	19,126	19,038
Minority investor of HBL Funds	78,457	44,649	39,447	(6,772)
	———-	———-	———-	———-
	10,009,975	7,865,165	5,009,614	4,050,145
	———-	———-	———-	———-
	(Rupees)
Basic and Diluted earnings per share	9.00	7.07	4.49	3.66

 

 

Habib Bank Limited                                                                                  Annexure A

 

Condensed Interim Unconsolidated Profit and Loss Account for the Six Months Ended June 30, 2011

 

	January 01 to June 30 2011	January 01 to June 30 2010	April 01 to June 30 2011	April 01 to June 30 2010
	(Rupees in `000)
Markup / return / interest earned	45,246,473	39,035,849	23,089,025	19,878,894
Non Mark-up / interest income	6,529,295	5,543,514	3,423,274	2,889,640
	———-	———-	———-	———-
	51,775,768	44,579,363	26,512,899	22,768,534
Mark-up / return / interest expensed	(19,006,516)	(17,016,986)	(9,844,288)	(8,465,568)
Provisions and write offs	(4,702,507)	(3,231,117)	(2,413,641)	(1,842,988)
Operating expenditure	(13,554,412)	(12,218,710)	(7,064,344)	(6,311,708)
	———-	———-	———-	———-
	(37,263,435)	(32,466,813)	(19,322,273)	(16,620,264)
	———-	———-	———-	———-
Profit before taxation	14,512,333	12,112,550	7,190,626	6,148,270
Taxation	(5,224,618)	(4,689,246)	(2,603,681)	(2,327,568)
	———-	———-	———-	———-
Profit after taxation	9,287,715	7,423,304	4,586,945	3,820,702
	———-	———-	———-	———-
		(Rupees)
Basic and Diluted earnings per share	8.43	6.74	4.16	3.47

 

For more information, contact:
Habib Bank Limited
Corporate Secretariat
12th Floor, HB Plaza
I.I. Chundrigar Road,
Karachi.
Tel: 021-2440991
Fax: 021-2415623
Web: www.hbl.com