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Karachi, Habib Bank Limited (HBL), one of Pakistan’s leading banks, has issued a statement regarding the payment of profit on its TFC (Term Finance Certificate) securities as of June 30, 2023. The bank has provided details regarding the redemption dates, total investment, profit amounts, and other relevant information for its TFC holders.
For the 2nd Profit Redemption, which occurred on July 4, 2023, HBL distributed a total profit amount of PKR 392,058,630.14 to its 12 TFC holders. After deducting the income tax of PKR 17,416,450.00, the net amount paid to the holders was PKR 374,642,180.14. The outstanding balance of the principal investment post-redemption remained at PKR 6,500,000,000.
Similarly, for the 1st Profit Redemption, which took place on March 27, 2023, HBL disbursed a total profit amount of PKR 304,680,821.92 to its 12 TFC holders. After deducting the income tax of PKR 11,073,976.00, the net amount paid was PKR 293,606,845.92. The outstanding balance of the principal investment post-redemption remained unchanged at PKR 6,500,000,000.
The TFC securities, with the security symbol “HBLTFC3,” were issued on December 27, 2022, and listed on January 31, 2023, with a quarterly profit payment frequency.
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