Habib Metro Bank sees slight rise in profit

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MG News | April 23, 2025 at 11:10 AM GMT+05:00

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April 23, 2025 (MLN): Habib Metropolitan Bank Limited (PSX: HMB) has reported its financial results for the current period, posting a profit after taxation of Rs6.24 billion, showing a nearly 2% increase compared to Rs6.12bn in the same period last year.

The bank has declared an interim cash dividend of Rs2.5 per share, i.e., 25%

The bank's basic and diluted Earnings Per Share (EPS) stood at Rs5.8, compared to Rs5.68 in the previous period, reflecting a 2.11% rise.

Profit before taxation rose by around 11.5% to Rs13.26bn from Rs11.9bn in the prior period.

Total income during the period increased by 14.52% to Rs23.53bn, driven largely by strong growth in non-mark-up/interest income.

Non-mark-up/interest income surged by nearly 46% to Rs5.45bn, compared to Rs3.74bn in the same period last year.

Key contributors to this growth included a 55.25% rise in foreign exchange income, a 15.16% increase in fee and commission income, and nearly 30% higher dividend income.

Net mark-up/interest income also posted growth of 7.6%, amounting to Rs18.08bn, despite a 28.78% drop in mark-up/return/interest earned, which fell to Rs42.78bn.

The bank’s mark-up/return/interest expense decreased significantly by 42.9% to Rs24.7bn.

Operating expenses increased by 25.1% to Rs9.3bn, while the bank allocated Rs267.5m to the Workers’ Welfare Fund, marking a 9.4% rise.

Total non-mark-up/interest expenses climbed by 23.67% to Rs9.58bn.

Credit loss allowance and write-offs declined by 23.9% to Rs678m, down from Rs892m, indicating improved credit quality.

The bank’s taxation expense stood at Rs7.02bn, up 21.5% from the previous period’s Rs5.78bn.

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED (Rs '000)
Particulars Mar-25 Mar-24 %Change
Mark-up / Return / Interest Earned 42,780,468 60,064,053 -28.78%
Mark-up / Return / Interest Expensed (24,704,956) (43,263,818) -42.90%
Net Mark-up / Interest Income 18,075,512 16,800,235 7.59%
       
Non Mark-up / Interest Income      
Fee and Commission Income 2,851,059 2,475,835 15.16%
Dividend Income 269,115 207,119 29.93%
Foreign Exchange Income 2,019,127 1,300,554 55.25%
Income / (Loss) from Derivatives - -  
Gain / (Loss) on Securities - Net 250,722 (267,137)  
Net Gain / (Loss) on Derecognition of Financial Assets - -  
Other Income 60,945 26,342 131.36%
Total Non Mark-up / Interest Income 5,450,968 3,742,713 45.64%
Total Income 23,526,480 20,542,948 14.52%
       
Non Mark-up / Interest Expenses      
Operating Expenses 9,300,457 7,434,093 25.11%
Workers’ Welfare Fund 267,468 244,476 9.40%
Other Charges 16,580 71,777 -76.90%
Total Non Mark-up / Interest Expenses (9,584,505) (7,750,346) 23.67%
       
Profit Before Credit Loss Allowance 13,941,975 12,792,602 8.98%
Credit Loss Allowance and Write Offs - Net (678,331) (891,572) -23.92%
Extra Ordinary / Unusual Items - -  
Profit Before Taxation 13,263,644 11,901,030 11.45%
Taxation (7,019,911) (5,777,365) 21.51%
Profit After Taxation 6,243,733 6,123,665 1.96%
       
PROFIT ATTRIBUTABLE TO:      
Equity Shareholders of the Holding Company 6,078,651 5,954,276 2.09%
Non-controlling Interest 165,082 169,389 -2.54%
Total 6,243,733 6,123,665 1.96%
       
Basic and Diluted Earnings Per Share (EPS) 5.8 5.68 2.11%

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