AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Habib Bank Limited has released its financial results for the first half of the year ending June 30, 2024. The bank reported significant earnings, with a notable increase in net profit compared to the previous year.
In the first six months of 2024, Habib Bank Limited achieved a net markup/return/profit/interest income of 121.57 billion rupees, up from 113.95 billion rupees in the same period of 2023. The total income for the bank stood at 161.09 billion rupees by June 2024, reflecting an improvement from 138.04 billion rupees recorded in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the bank’s operating expenses also saw a rise, reaching 91.81 billion rupees up from 79.35 billion rupees, highlighting increased operational activities. The profit before taxation was reported at 57.85 billion rupees, an increase from 51.51 billion rupees in the corresponding period last year.
After accounting for taxation, which amounted to 28.79 billion rupees, the net profit after tax was recorded at 29.06 billion rupees. This is an increase from the 26.34 billion rupees reported in the first half of 2023. The basic and diluted earnings per share have been calculated at 20.18 rupees for the current period, compared to 17.86 rupees in the previous year.
Habib Bank has declared a cash dividend of 4.00 rupees per share, which is a continuation of the same rate of interim dividend paid in the earlier quarter. The bank’s share transfer books will be closed from September 5, 2024, to September 9, 2024, for dividend processing.
The financial report, delivered in line with the bank’s transparent reporting practices, underscores Habib Bank’s sustained profitability and operational growth amidst a challenging economic landscape.
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