The directors of First Habib Modaraba (FHM) in their Board of Directors meeting held on Wednesday, announced cash dividend of 22 percent. The financial performance of the Modaraba remained satisfactory in 2014-15. Balance Sheet size has increased by 18 percent due to enhancement in financing portfolio and net profit has also enhanced by 7 percent over the period of last year.
Modaraba has completed 30 years of successful business operation. FHM being the pioneer in Modaraba and Non-Banking Islamic Financial sector played a vital role for promotion of Islamic Finance in Pakistan's Islamic Financial Market and grow over the year on sound footing with the commitment of adding value to all stakeholders particularly investors through continuous payment of dividend every year.
Strategic focus on growth always remain in prudent manner with commitment to deliver customer centric solutions through well define corporate policies with co-ordinated team work for long term and sustainable development. The efficacy of FHM's business strategy and prudent risk management policies have always supported the management to maintain outstanding assets quality while ensuring sustainability of performance despite the increasingly competitive operating environment in Pakistan's financial market.
Since last several years FHM has been securing credit rating AA+ for long-term and A1+ short-term from Pakistan Credit Rating Agency Ltd. The Modaraba has also received several awards and recognition on best performance, best corporate report, best corporate disclosure and corporate excellence received from reputable bodies, such as NBFI and Modaraba Association, ICAP and ICMAP, Management Association of Pakistan, and SAFA an apex body of SAARC.
Looking ahead, in 2015-16 FHM will strive to enhance market outreach and add quality assets through sound customer based portfolio. FHM remains committed to maintain its strategy of steady and sound growth and Insha'Allah try to produce even better result in coming years by full fuelling all applicable regulatory and Shariah requirements.-PR
Comments
Comments are closed.