LAHORE (PR) – Habib Metropolitan Bank closed the financial year 2012 by recording a profit-before tax of over Rs 5 billion; in doing so, the 7th largest bank of Pakistan in terms of shareholder equity, exhibited an increase against the profit-before-tax of Rs 4.6 billion posted at the end of the previous year.

This amplification of profitability was supplemented with a growth of 4.4 per cent in the Bank’s total assets, which stood at Rs 301 billion on December 31, 2012, and a noteworthy increase of 17.50 per cent in the Bank’s deposit base. Meanwhile, CASA deposits demonstrated a significant growth of 20.60 per cent against the previous year, as the CASA mix of the Bank amounted to an increased 53.80 percent.

Net Markup Income of HabibMetro Bank increased by 7.90 per cent and stood at Rs 8.30 billion, while non-markup income registered an increase of 5.20 percent to stand at Rs. 5.40 billion at the end of the financial year 2012 – an enhancement that is primarily attributed to the 18 percent growth in fee-based income and 12.18 percent growth in trading and dividend income. The Bank’s Board of Directors recommended a final cash dividend of Rs. 2 per share or 20 percent for the year ended December 31, 2012, against the 15 percent cash dividend announced in the previous year.

Commenting on the Bank’s financial performance in the year 2012, the President  & CEO, Mr. Sirajuddin Aziz, observed, ‘HabibMetro performed well despite the challenging economic environment of the Country. Going forward, the Bank will endeavor to furtherdevelop its product suite by adding attractive features to its product offerings during 2013. Through this commitment to improvement, we aim to better our customers’ banking experience with HabibMetro.’