HBL declares profit of Rs22.35bn with Rs.4 cash dividend, 10pc bonus

ISLAMABAD: The Habib Bank Limited (HBL) on Tuesday announced the profit of Rs. 22.35 billion for the year ended on December 31, 2012 against Rs. 22.33 billion in the same period of last year.

Besides, the result of the bank is accompanied with the cash dividend of Rs. 4 per share along with 10 per cent of bonus or the bonus shares in proportion of 10 shares for every 100 shares held.

In addition, the bank has already paid Rs. 3.5 per share cash dividend resulting the cash dividend of Rs. 7.5 per share for the whole year ended on December 31.

The earning per share (EPS) posted by the bank is Rs.18.36 against the previous' year EPS of Rs. 18.30.

The net profit of the bank was witnessed a substantial a rise due to increase in the mark up income and non-mark up and decline in the expenses of other charges.

The net mark-up income stood at Rs.116.77 billion, registering an increase of 15.58 per cent against Rs.98.58 billion during the period under view.

Moreover, the non-mark-up income has recorded at Rs.15.96 billion in 2012, witnessing a rise of 7.38 per cent when compared it with previous year's non mark-up income.

However, the other expenses of the bank has been decreased from Rs. 77,588,000 to Rs.18,285,000 during the period under view.

The net expenses incurred for earning the interest income has also registered an enhancement of 28.52 per cent from Rs. 42.18 billion in 2011 to Rs.59.01 billion in 2012.

Senior Stock Analyst of Aba Ali Habib Pvt Ltd, Zaheer Ahmed told APP that the result of the bank were beyond the expectation of the investors because it included the bonus of 10 per cent and cash dividend of Rs.7.5 per share for the whole year ended on December 31, 2012.

He further said that the market had responded the result positively and the punters had taken the positions in banking sector due to it.

The result session has always played pivotal role in boosting the activities in the capital market, he said adding that besides other economic indicators, it was beyond the best performance of local stock market among the region's markets.