The profit after tax of Habib Bank Limited (HBL) has declined to Rs 10.084 billion in the year ended December 31, 2007 as compared to Rs 12.700 billion earned in the same period in 2006. The bank''s earning per share declined to Rs 14.49 in the period under review against Rs 18.30 in the same period a year back.
The Board of Directors of the bank in its meeting held on Thursday recommended cash dividend of Rs 4 per share ie 40 percent and bonus shares in proportion of one share for every 10 shares held ie 10 percent based on the results of the year ended December 31, 2007.
According to the results, the mark-up/return/interest income of the bank surged to Rs 50.481 billion in 2007 against Rs 43.685 billion in 2006 while the non-markup/interest income increased to Rs 10.023 billion in this period against Rs 8.489 billion previously.
The bank''s markup/return/interest expenses, provisions and write off and operating expenditure totalled at Rs 45.359 billion in this period against Rs 33.334 billion previously. The bank''s profit before tax stood at Rs 15.144 billion in 2007 against Rs 18.840 billion in 2006.