Habib Metropolitan Bank's annual bottom-line income inches up by 9.5%

By MG News | February 22, 2019 at 09:47 AM GMT+05:00

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February 22, 2019 (MLN): Habib Metropolitan Bank (HMB)’s cumulative gains for the year 2018 have risen by 9.5% over the year as it notes down its net income for the year at Rs.6.4 billion and EPS at Rs.5.9.

The bank’s net mark-up/interest income increased by 16.9% over the year while its non-mark-up/interest income inched up by a mere 4% bringing a positive change of 13% in the total income which logged in at Rs.22.7 billion.

Meanwhile, the overall expenses although hiked up by 12%, were recorded at Rs.12 billion, bringing the profits before provision to Rs.10.7 billion, during the period.

In addition to this, HMB has reported a Final Cash Dividend at Rs.2 per share i.e. 20%

Consolidated Profit and Loss Account for year ended December 2018 (Rupees in '000)
	Dec-18	Dec-17	% Change
Mark-up/return/interest earned	43,060,826	34,201,299	25.90%
Mark-up/return/interest expensed	(26,406,518)	(19,949,502)	32.37%
Net mark-up/interest income	16,654,308	14,251,797	16.86%
NON MARK-UP/INTEREST INCOME
Fee and commission income	3,846,716	3,488,764	10.26%
Dividend income	103,198	430,452	-76.03%
Foreign exchange income	1,498,410	1,171,725	27.88%
Income/(loss) from derivatives	-	-
Gain /(loss) on securities	84,805	422,886	-79.95%
Other income	566,629	351,637	61.14%
Total non-mark-up/interest income	6,099,758	5,865,464	3.99%
Total income	22,754,066	20,117,261	13.11%
NON MARK-UP/INTEREST EXPENSES
Operating expenses	11,797,688	10,534,809	11.99%
Workers Welfare Fund	197,947	180,945	9.40%
Other charges	31,105	3,229	863.30%
Total non-mark-up/interest expenses	12,026,740	10,718,983	12.20%
Profit before provisions	10,727,326	9,398,278	14.14%
(Provisions)/reversal and write offs - net	(382,427)	113,027
Extra-ordinary / unusual items	-	-
Profit before taxation	10,344,899	9,511,305	8.76%
Taxation	(3,923,994)	(3,646,386)	7.61%
Profit after taxation	6,420,905	5,864,919	9.48%
Earnings per share - Basic and Diluted (in Rupees)	5.90	5.41	9.06%

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