Bank Al Habib’s profit after tax increases to Rs2.508bn

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KARACHI: The profit after tax of Bank Al Habib Limited has increased to Rs. 2.508 billion in the half year period ended June 30, 2012 as compared to Rs. 2.075 billion earned in the corresponding period in 2011.

The board of directors of the bank in its meeting held here on Monday declared that the bank’s earning per share has increased to Rs. 2.48 in the period under review against Rs. 2.05 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the bank’s mark-up/return/interest earning increased to Rs. 20.832 billion in the first half of 2012 against Rs. 16.783 billion in the same period in 2011. The bank’s mark-up/return/interest expenses increased to Rs 13.270 billion against Rs. 10.196 billion.

The bank’s total non-mark-up/interest income increased to Rs. 1.482 billion against Rs. 1.342 billion while total non-mark-up/interest expenses increased to Rs. 4.206 billion against Rs. 3.742 billion.

The bank’s profit before taxation increased to Rs. 4.458 billion in the first half of 2012 against Rs. 3.418 billion in the same period in 2011.

On quarterly basis, the bank’s profit after taxation increased to Rs. 1.298 billion translating earning per share of Rs. 1.28 in the quarter ended June 30, 2012 as compared to after tax profit of Rs. 1.040 billion with per share earning of Rs. 1.03 in the same quarter last year.