The Board of Directors of Bank AL Habib Limited announced the financial results of the Bank for the nine months period ended 30 September 2017. As per the results, Bank AL Habib Limited continued its growth momentum and declared the pre-tax profit of Rs 10.53 billion for the nine months period ended 30 September 2017 as compared to Rs 9.39 billion for the corresponding period last year, showing a growth of 12.1 percent. Profit after tax was recorded at Rs 6.40 billion against Rs 5.43 billion with a healthy growth of 17.9 percent. Earnings per Share (EPS) of the Bank was recorded at Rs 5.76.
Bank AL Habib Limited's total asset base grew by 14.9 percent over 31 December 2016 to reach Rs 864 billion. The Bank showed an impressive growth in its financing portfolio which increased by 15.5 percent, from Rs 261.4 in December 2016 to Rs 301.8 billion in September 2017. Advances to Deposits Ratio (ADR) of the bank now stands at 44.9 percent.
Bank AL Habib's prudent financing strategies and sound risk management policies resulted in decrease of loan Infection Ratio to 1.87 percent in September 2017 from 2.12 percent in December 2016. Coverage ratio of Non-Performing Loans is also improved to 137.9 percent at September 2017 from 136.9 percent in December 2016.
The Bank continues to mobilize low cost deposits through strong relationship management and customer centric approach resulting in 14.9 percent growth in deposits which increased to Rs 671 billion in September 2017 from Rs 584 billion in December 2016.
The Bank continues to expand its outreach to customers, as a result of which BAHL's reach now includes a network of 637 branches/sub branches having coverage of 228 cities within Pakistan and 3 branches and 3 representative offices outside Pakistan. The Bank also has a network of more than 700 ATMs across Pakistan to provide access and convenience to its customers.
During the year, the Bank has received Chartered Financial Analyst (CFA) Award for "Best Bank of the Year 2016 (Mid-Size Banks)" for the fifth time and Asian Development Bank (ADB) - Trade Finance Program (TFP) Award for "Leading Partner Bank in Pakistan 2017". These awards recognize the Bank's strength, liquidity, sustainability and expertise in trade finance.
Pakistan Credit Rating Agency Limited (PACRA) has maintained the Bank's long-term and short-term entity ratings at AA+ (Double A plus) and A1+ (A One plus), respectively.