In a meeting of Habib Metropolitan Bank's Board of Directors, held on Thursday October 25, 2017, the financial results of the Bank for the period ended September 30, 2017 were approved. The Bank posted a profit-before-tax of Rs 5.74 billion at the end of the third quarter of 2017. Total assets amounted to Rs 631.4 billion and deposits increased to over Rs 474 billion.
Meanwhile, gross advances increased by over 20 percent year-on-year and were registered in excess of Rs 184.8 billion. Return on Equity and Assets marked at 11.66 percent and 0.75 percent, respectively. The profitable financial performance led Habib Metro Bank to record an annualized Earning per Share of Rs 4.13.
Net Equity stood at Rs 37.3 billion with Capital Adequacy marking at around 16.76 percent. This demonstrated a financial robustness that was further validated by the Pakistan Credit Rating Agency (PACRA) assigning premium credit ratings of AA+ and A1+ credit ratings to Habib Metro Bank for the 17th consecutive year.
The Bank has been recognized with the 'Best SME Deal of the Year' by the Asian Development Bank in 2017. Earlier in 2016, the Bank was awarded as the ADB's 'Leading Partner in Pakistan' for the 2nd consecutive year, in addition to the winning the 'Leading SME Trade Bank' award.
Habib Metro continues to expand its footprint across Pakistan with a growing network of 315 branches in 91cities across Pakistan; with an aim to further enhance its branch outreach in 2017.HabibMetro Bank is a subsidiary of Habib Bank AG Zurich, a multi-national banking group that enjoys a financial presence in 8 countries across 4 continents.-PR