HBL observes an upsurge of 108% in profits

In the first quarter of 2021, Habib Bank Limited (HBL) recorded a consolidated profit before tax of Rs14.5 billion. Over the first quarter, profit after tax increased to Rs8.6 billion.

In Q1FY21, the bank’s earnings per share increased from Rs2.79 to Rs5.68. The bank’s total deposit base was Rs2.8 trillion at the end of the quarter, with CA and CASA ratios of 35.1 percent and 83.1 percent, respectively.

HBL’s market-leading consumer sector continues to outperform in a variety of ways, with loans reaching nearly Rs85 billion and gross advances remaining at Rs1.2 trillion as of Dec 2020. The bank’s total non-fund income increased by 42 percent to Rs8.2 billion in Q1FY20. Fees and commissions increased by 25% in the first quarter of FY20, to Rs5.9 billion.