The Bank Al Habib Limited has earned profit of Rs 2.211 billion in the year ended December 31, 2007 as compared to Rs 1.760 billion earned in the corresponding period in 2006. The bank's earning per share increased to Rs 6.01 in the period under review against Rs 4.78 in the same period a year back.
The board of directors of the bank in its meeting held here on Thursday recommended a final cash dividend for the year at Rs 1.5 per share ie 15 percent. The board also recommended to issue bonus shares in the proportion of 30 shares for every 100 shares held ie 30 percent.
According to the financial results, the bank's mark-up/return/interest income surged to over Rs 9.945 billion in this period against Rs 7.857 billion in the same period last year. The mark-up/return/interest expenses of the bank also increased to Rs 5.764 billion against Rs 4.078 billion.
The total non-mark-up/interest income of the bank reached at Rs 6.218 billion in this period against Rs 5.121 billion in the same a year back while the total non-mark-up/interest expenses stood at Rs 3.166 billion in 2007 against Rs 2.432 billion previously. The bank's profit before tax was recorded at Rs 3.052 billion in 2007 against Rs 2.689 billion in the same period in 2006.