HMB sees slender increase in profits during 9MCY22

October 24, 2022 (MLN): Habib Metropolitan Bank Limited (PSX: HMB) has declared its financial results today for nine months ended September 30, 2022, as per which, the bank has witnessed an up of around 6% YoY in its net profit, standing at Rs10.81 billion which translated into an EPS of Rs9.88.

According to the financial statement sent to PSX, the bank witnessed an increase of 26% YoY in net interest income earned in 9MCy22 that clocked in at Rs28.2bn as a result of a 70% YoY upsurge interest earned.

The non-funded income (NFI) of the bank jumped up by 35% YoY mainly on account of higher fee and commission income which clocked in at Rs6bn. Meanwhile, the dividend and FX income rose to Rs231.2mn, and Rs4.2bn, respectively in the review period. Similarly, the capital gain of securities improved by 65.43% YoY to Rs278mn.

Moreover, the operating expenses of the bank surged by 33% YoY while provisions increased by 19% YoY.

On the taxation front, the bank paid Rs9.31bn during 9MCY22, as compared to Rs5.8bn in the same period last year.

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