Bank AL Habib reports 12.86% increase in profit after tax

By MG News | January 30, 2025 at 04:56 PM GMT+05:00

0:00

January 30, 2025 (MLN): Bank AL Habib Limited (PSX: BAHL) has reported a profit after tax of Rs39.86 billion for the year ended December 31, 2024, marking a 12.86% increase compared to Rs35.32bn in the previous year.

The company has declared a final cash dividend of Rs6.50 per share, representing 65%, for the year ended December 31, 2024, in addition to the interim cash dividends already paid at Rs10.50 per share, bringing the total dividend payout to 105% for the year.

The bank's earnings per share (EPS) stood at Rs35.87, up from Rs31.78 in 2023, reflecting a growth of 12.87%.

The rise in profits was driven by a 23.93% increase in net interest income, reaching Rs42.53bn, fueled by a 21.52% increase in interest-earning assets.

Additionally, the bank's non-markup income saw an 8.09% year-on-year increase to Rs6.52bn, primarily due to a surge in fee and commission income.

However, operating expenses rose by 16.76% to Rs21bn, while the bank recorded a significant increase in provision expenses, amounting to Rs4.49bn.

On the taxation front, the bank paid Rs10.85bn, a slight decrease from the previous year.

Profit and Loss Account for the year ended December 31, 2019 (Rupees in '000)
	Dec 31, 2024 (PKR)	Dec 31, 2023 (PKR)	% change
Mark-up/return/interest earned	478,031,023	373,902,458	27.85%
Mark-up/return/interest expensed	(321,783,242)	(249,754,849)	28.84%
Net mark-up/interest income	156,247,781	124,147,609	25.86%
Fee and commission income	19,439,797	14,365,866	35.32%
Dividend income	867,949	1,552,135	-44.08%
Foreign exchange income	3,911,135	6,841,341	-42.83%
Income/(loss) from derivatives	142,005	1,732	8098.90%
Gain on securities - net		-	-
Net gain/(loss) on derecognition of financial assets	-	-	-
Other income	1,123,347	466,183	140.97%
Total non-mark-up/interest income	25,484,233	23,227,257	9.72%
Total income	181,732,014	147,374,866	23.31%
Operating expenses	(80,978,771)	(70,273,774)	15.23%
Workers welfare fund	(1,711,046)	(1,544,532)	10.78%
Other charges	(310,073)	(228,401)	35.76%
Total non-mark-up/interest expenses	(82,999,890)	(72,046,707)	15.20%
Profit before credit loss allowance	98,732,124	75,328,159	31.07%
Credit loss allowance and write-offs - net	(14,890,895)	(4,200,202)	254.53%
Other income/expenses	-	-
Profit before taxation	83,841,229	71,127,957	17.87%
Taxation	(43,979,042)	(35,808,582)	22.82%
Profit after taxation	39,862,187	35,319,375	12.86%
Earnings per share - Basic and Diluted (Rupees)	35.87	31.78	12.87%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%