HBL to invest Rs6bn in HBL Microfinance Bank

MG News | April 30, 2024 at 09:18 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 30, 2024 (MLN): The Board of Directors (BoD) of Habib Bank Limited (PSX: HBL) has approved an Equity Investment of up to Rs6 billion in its subsidiary namely HBL Microfinance Bank Limited (HBL MfB), the Bank's filing on PSX revealed today.

The aforestated development complies with all regulatory requirements and the approval of the Shareholders of the Bank.

HBL is engaged in commercial banking-related services in Pakistan and overseas. The Aga Khan Fund for Economic Development (AKFED), S.A. is the parent company of the Bank.

On the financial front, the bank earned Rs14.59 billion [EPS: 9.95] on an unconsolidated basis during the quarter that ended March 31, 2024 (3QFY24), reflecting a marginal 4.61% YoY drop compared to the profit of Rs15.3bn [EPS: 10.43] earned in the corresponding period last year.

Despite this meagre drop in earnings, the BoD of HBL has recommended a final cash dividend of Rs4 per share i.e.40%.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,402.08 123.44M	0.15% 248.92
ALLSHR	103,762.74 640.45M	0.28% 285.71
KSE30	50,998.57 52.62M	0.19% 96.59
KMI30	244,665.18 69.20M	0.37% 899.52
KMIALLSHR	67,290.94 377.69M	0.30% 203.90
BKTi	47,479.22 9.62M	-0.28% -135.50
OGTi	35,149.09 4.24M	0.85% 295.17

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	86,590.00	86,890.00 86,065.00	300.00 0.35%
BRENT CRUDE	98.85	99.40 98.27	-0.40 -0.40%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	6.90 5.61%
ROTTERDAM COAL MONTHLY	137.10	137.10 137.10	-0.20 -0.15%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	89.80	90.38 89.47	-0.72 -0.80%
SUGAR #11 WORLD	18.57	18.58 18.02	0.18 0.98%