Habib Bank Limited posted Rs 7.064 billion profit after tax in the year ended December 31, 2017 as compared to Rs 31.820 billion in the corresponding period of 2016. The bank's earning per share declined to Rs 5.38, down 77 percent as compared to EPS of Rs 21.69 declared in the year 2016. The board of directors of the bank in its meeting held Monday in Islamabad recommended a final cash dividend for the year at Rs 1.0 per share, ie, 10 percent. This is in addition to the interim dividend already paid at Rs 7.00 per share, ie, 70 percent.
According to financial results, the bank's mark-up/return/interest earning increased to Rs 142.510 billion in 2017 as compared to Rs 137.807 billion in 2016 while mark-up/return/interest expenses increased to Rs 63.645 billion against Rs 58.490 billion. The bank's total non-mark-up/interest income increased to Rs 29.726 billion in 2017 against Rs 25.859 billion in 2016 while total non-mark-up/interest expenses increased to Rs 58.458 billion against Rs 52.264 billion.
Analysts say the decline in the HBL profit is due to Rs 23 billion penalty booked during the third quarter of 2017. The bank's profit before taxation stood at Rs 26.814 billion in the year 2017 as compared to Rs 52.246 billion in 2016.
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