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Habib Bank Limited’s financial result for the nine months ended September 30, 2011

Karachi: The Board of Directors of Habib Bank Limited (HBL) at their meeting held on October 15, 2011 at Karachi are pleased to announce the results for the nine months ended 30 September, 2011, which are attached as Annexure A and B, respectively.

The Board of Directors have declared a half year Interim Cash Dividend of Rs.31- per share i.e.30% (Thirty percent).

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Thursday, November 3, 2011.

The Share Transfer Books of the Bank will be closed from November 1, 2011 to November 11, 2011 (both days inclusive) transfers received at Bank’s shares registrar M/s THK Associates (Pvt.) Ltd., Ground Floor, State Life Building # 3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on November 3, 2011 will be treated in time for the purpose of above entitlement to the transferees.

The Commissioner Enforcement and Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building Jinnah Avenue, Islamabad

Annexure A

Condensed Interim Consolidated Profit and Loss Account for the Nine Months Ended September 30, 2011

 

January 01 to

September 30

2011

January 01 to

September 30

2010

July 01 to

September 30

2011

July 01 to

September 30

2010

Mark-up Interim /interest earned 71,564,734 60,001,649  25,458,299 20,326,535
Non Mark-up/ interest income 10,788,261  9,002,718 3,175,333  2,696,691
 ———- ———- ———-  ———-
82,352,995 69,004,367 28,633,632 23,023,226
Mark-up/return / interest expensed (30,531,663)  (25,599,319)  (11,259,892)  (8,463,472)
Provisions and write offs  (5,623,708)  (4,864,124) (1,007,992) (1,647,142)
Operating expenditure (22,062,820) (19,158,191) (7,682,952)  (6,294,324)
———-  ———- ———- ———-
  (58,218,191) (49,621,634) (19,950,836) (16,404,938)
 ———-  ———-   ———-  ———-
Profit before taxation 24,134,804 19,382,733 8,682,796  6,618,288
Taxation  (8,412,333) (7,212,514) (2,970,300) (2,313,234)
 ———- ———- ———- ———-
Profit after taxation 15,722,471 12,170,219   5,712,496 4,305,054
 ———-  ———-  ———- ———-
Attributable to:
Equity holders of the Bank  15,610,231 12,035,627 5,702,939 4,248,481
Minority interest 41,931 64,189 17,705 30,819
Minority investor of HBL Funds 70,309 70,403  (8,148) 25,754
 ———-  ———-  ———- ———-
(Rupees)
Basic and Diluted earnings per share 14.16 10.92 5.17  3.86

 

Condensed Interim Unconsolidated Profit and Loss Account for the Nine Months Ended September 30, 2011

 

January 01 to

January 01 to

July 01 to

July 01 to

September 30

September 30

September 30

September 30

2011

2010

2011

2010

(Rupees in ‘000’)

Mark-up / return / interest earned 70,133,837 59,016,461 24,887,364 19,980,612
Non Mark-up / interest income 9,307,993 7,903,936 2,778,698 2,360,422
 ———- ———- ———- ———-
79,441,830 66,920,397 27,666,062 22,341,034
 ———- ———- ———- ———-
Mark-up/return/ interest expensed  (30,087,750) (25,420,048)  (11,081,234)  (8,403,062)
Provisions and write offs  (6,291,927) (5,117,135)  (1,589,420)   (1,886,018)
Operating expenditure (20,716,953) (18,218,623) (7,162,541) (5,999,913)
 ———-  ———-  ———- ———-
  (57,096,630)  (48,755,806) (19,833,195)  (10,288,993)
———-  ———-  ———-  ———-
Profit before taxation  22,345,200  18,164,591 7,832,867  6,052,041
Taxation  (7,910,080) (6,871,765) (2,685,462) (2,182,519)
 ———- ———-  ———-  ———-
Profit after taxation 14,435,120 11,292,826 5,147,405 3,869,522
———-  ———-  ———-  ———-
 (Rupees)
Basic and Diluted earnings per share 13.10 10.25  4.67 3.51

 

For more information, contact:
Habib Bank Limited
Corporate Secretariat,
12th Floor, HBL Plaza,
I.I. Chundrigar Road Karachi.
P: 021-2440991
F: 021-2415623

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