HBL Declared second interim dividend of Rs.2 per share

Karachi October 28 2013: The Board of Directors of HBL in its meeting held on 25 October 2013 reviewed the performance of the Group and approved the financial statements for the nine months ended 30 September 2013.

The Board of Directors of HBL has declared second interim dividend of Rs.2 per share for the year ending 31 December 2013, making total dividend of Rs.6 for the nine months ended 30 September 2013.

The profit after tax for the quarter July – September 2013 at Rs.6.2 billion was up by 14.3% compared to previous quarter April – June 2013. The improvement in profitability during the quarter July – September 2013 was possible mainly due to increase in net interest income by Rs. 1.1 billion or 8.5% on account of increase in deposits and change in deposit mix. Increase in Non-Interest Income by Rs.0.6 billion or 15.8% also contributed towards improved profitability during the quarter July – September 2013. The pre-tax and after tax profit of HBL for the nine months ended 30 September 2013 was Rs.25.1 billion and Rs.16.7 billion respectively as against Rs.28.1 billion and Rs.17.4 billion respectively in the corresponding period last year.

The earning per share after tax was Rs.12.43 for the nine months ended 30 September 2013 as against Rs.12.92 in the corresponding period last year.

The deposit of HBL as on 30 September 2013 stood at Rs.1268 billion showing growth of 4.4% compared to 31 December 2012. The CASA of HBL improved to 74.3% as on 30 September 2013 as against 67% as on 31 December 2012. The Capital Adequacy Ratio was maintained above 15% as on 30 September 2013.