The profit after tax (unconsolidated) of Habib Bank Limited (HBL) has increased to Rs 9.287 billion in the half year period ended June 30, 2011 as compared to Rs 7.423 billion earned in the corresponding period in 2010. The board of directors of the bank in its meeting held here on Friday declared that the bank's earning per share increased to Rs 8.43 in the period under review against Rs 6.74 in the same period last year.
The board of directors has not recommended any dividend, bonus, rights or other entitlement for shareholders based on the half year results of the company. According to the financial results sent to Karachi Stock Exchange, the bank's mark-up/return/interest earning increased to Rs 45.246 billion in the half year period in 2011 against Rs 39.035 billion in the same period in 2010. The bank's non-mark-up/interest income increased to Rs 6.529 billion against Rs 5.543 billion.
The bank's mark-up/return/interest expenses increased to Rs 19.006 billion against Rs 17.016 billion; provisions and write offs increased to Rs 4.702 billion against Rs 3.231 billion while the operating expenditure increased to Rs 13.554 billion against Rs 12.218 billion. The bank's profit before tax increased to Rs 14.512 billion in the first half of 2011 against Rs 12.112 billion earned in the same period in 2010.
On quarterly basis, the bank's profit after tax increased to Rs 4.586 billion translating earning per share of Rs 4.16 in the quarter ended June 30, 2011 as compared to after tax profit of Rs 3.820 billion with per share earning of Rs 3.47 in the corresponding quarter last year.
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