HBL posts highest-ever PAT of Rs26.34bn in 1HCY23

MG News | July 26, 2023 at 01:46 PM GMT+05:00

0:00

July 26, 2023 (MLN): Habib Bank Limited (PSX: HBL) has revealed its financial statement today for the half year ended June 30, 2023, as per which the bank posted a profit worth Rs26.34 billion [EPS: Rs17.86], depicting a surge of 2.17x YoY, compared to Rs12.11bn [EPS: Rs8.10] in the same period last year (SPLY), bank’s filing on PSX showed today.

Along with the 1HCY23 financial results, the board of directors of UBL has also announced an interim cash dividend for the period ended June 30, 2022, at Rs2 per share i.e. 20%.

Going by the income statement, the bank witnessed an increase of 54.21% in its net interest income (NII) to stand at Rs113.95bn, compared to SPLY. The surge in NII is due to a jump in interest-earning of (Rs131.56bn), up by 70.12% YoY.

During the period under review, the bank’s Non-Markup Income (NMI) witnessed a meager rise of 1.71% YoY to Rs24.08bn as other income soared to Rs4.17bn as compared to Rs236.54m in SPLY. Still, the bank's NMI was restricted as a result of loss from derivatives which rose by 4.7x to Rs5.15bn.

In addition, the bank incurred a provision expense of Rs6bn during the review period compared to the provision and write-offs of Rs2.80bn in the corresponding period last year.

On the tax front, the bank paid Rs25.17bn, 11.94% higher than the amount paid in 1HCY22.

Consolidated Profit and Loss Account for the 6 Months Ended June 30, 2023 (Rupees in '000)
	Jun-23	Jun-22	% Change
Mark-up/return/profit/interest earned	319,196,989	187,634,306	70.12%
Mark-up/return/profit/interest expensed	205,242,241	113,738,181	80.45%
Net mark-up/return/profit/interest income	113,954,748	73,896,125	54.21%
Non mark-up/interest income
Fee, commission, and brokerage income	19,778,761	15,057,386	31.36%
Dividend income	1,826,891	410,139	345.43%
Share of profits of associates and joint venture	2,174,577	816,212	166.42%
Foreign Exchange Income	1,514,114	7,845,475	-80.70%
(Loss) / income from derivatives	-5,151,560	(1,094,276)	370.77%
(Loss) / gain on securities	(227,339)	403,228	-156.38%
Other income	4,165,093	236,537	1660.86%
Total non-mark-up/interest income	24,080,537	23,674,701	1.71%
Total Income	138,035,285	97,570,826	41.47%
Non mark-up/interest expenses
Operating expenses	(79,348,461)	(59,047,026)	34.38%
Other charges	(1,102,188)	(686,889)	60.46%
Workers' Welfare Fund	(76,480)	(442,313)	-82.71%
Total non-mark-up/interest expenses	(80,527,129)	(60,176,228)	33.82%
Profit/(loss) before taxation	57,508,156	37,394,598	53.79%
Provision and write offs-net	(5,999,014)	(2,803,115)	114.01%
Taxation	(25,169,164)	(22,483,698)	11.94%
Profit/(loss) after taxation	26,339,978	12,107,785	117.55%
Earnings per share - basic and diluted (Rupees)	17.86	8.10	120.49%

CopyrightMettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,210.68 402.54M	3.49% 5433.46
ALLSHR	96,097.29 718.60M	3.34% 3102.77
KSE30	49,781.74 146.66M	3.95% 1890.99
KMI30	230,597.11 158.11M	4.81% 10582.05
KMIALLSHR	62,183.27 382.16M	3.79% 2272.55
BKTi	46,523.21 43.62M	2.50% 1134.61
OGTi	32,678.22 24.62M	6.68% 2046.87

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	72,560.00	73,600.00 72,020.00	-885.00 -1.21%
BRENT CRUDE	83.79	84.74 82.13	2.39 2.94%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-17.10 -14.68%
ROTTERDAM COAL MONTHLY	121.50	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	77.11	78.09 75.56	2.45 3.28%
SUGAR #11 WORLD	13.74	13.80 13.68	0.01 0.07%