HBL profit surges 38pc to record Rs31.8b

KARACHI (PR): HBL has announced its full year results for 2014, with consolidated profit after tax of Rs 31.8 billion, an exceptional growth of 38% over 2013. Earnings per share rose from 15.59 to 21.63 over the same period. Profit before tax rose by a solid 34% to Rs 48.5 billion. This extraordinary performance was driven by a 25% increase in total revenue, improving efficiency and stable provisions.

Net Interest Income increased by 25% to Rs. 69.1 billion, driven by a 9% growth in the average Balance Sheet and a phenomenal 25% growth in domestic current accounts which grew by nearly Rs 80 billion. Total deposits grew to a massive Rs 1.5 trillion, while the overall Balance Sheet set a new record at Rs 1.9 trillion.

Non Mark-up Income increased significantly to Rs. 23.5 billion, based on a 20% increase in fees and commissions as Bancassurance, Investment Banking and general banking products all delivered strong results. HBL’s Treasury was successful in capturing higher customer flows and grew revenues by 30%, while HBL’s banking and insurance associates demonstrated superior performance, with a 37% increase in revenue contribution.

During 2014, the Bank continued to invest heavily in people, technology and infrastructure in line with its philosophy of using technology to improve the customer experience and further its financial inclusion objective. Administrative costs increased by 14% over the previous year, but efficiency gains were made to reduce the cost/income ratio from 48.6% in 2013 to 44.6% in 2014.

HBL remains committed to financial inclusion by providing the widest access to financial services and is now the market leader with 1,592 ATMs and the largest number of debit cards in Pakistan. During the year the Bank launched an Internet Payment Gateway which will enable it to serve the growing e-commerce market and also initiated POS acquiring. HBL is now one of the main institutions for G2P payments on account of social transfers.

HBL maintains its leading position in Rural Banking in line with its vision of being a national institution and supporting the mainstay of the economy with a 23% growth in lending. The Bank has been working on a unique value proposition for women customers to facilitate their access tofinancial services. The Bank remains the largest provider of cash management services with over Rs 1.5 trillion in volumes.Islamic Banking business also had an excellent year, more than doubling its deposits to over Rs 100 billion.

As recognition of its all-round excellent performance in 2014,HBL was conferred with the Bank of the Year,Pakistan award by The Banker, a publication of the Financial Times, and Best Bank in Pakistan by Euromoney.HBL remains the soundest Bank with a Capital Adequacy Ratio of 16.2% under the Basel III framework. The Bank remains a AAA rated bank and was conferred the Safest Bank in Pakistan award by Global Finance.

Along with the extremely strong results, the Board has recommended a final cash dividend of Rs. 5.50 per share for the year, bringing the total cash dividend to a record high Rs12.0for the year.

Dubai Islamic Bank results

KARACHI (PR): The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) recently held a meeting to approve its financial statements for the year ended December 31, 2014. DIBPL is a fully owned subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank.

The Year 2014 marked numerous achievements for DIBPL. On the financial side, the Bank reported a year-end Profit Before Tax (PBT) of Rs926 million which is a 337pc growth in PBT in comparison to 2013. Furthermore, a 24pc deposit growth was achieved in comparison to 2013, taking total deposits to Rs84 billion in 2014. On the asset side, DIBPL’s Total Assets rose by 27pc in contrast to 2013 increasing the Total Assets base to Rs102 billion in 2014.

The Bank’s Financings grew substantially by 66 pc over the year, taking total Financings to Rs 59 billion.

From only 36 locations (36 Branches) in October 2010, today DIBPL stands at 222 locations (175 branches and 47 branchless banking booths) in 51 cities across Pakistan. The Bank added over 30,000 more customers in 2014, taking full customer base to over 170,000. As per the permission of State Bank of Pakistan, the Bank remains MCR compliant and enjoys a short-term credit rating of ‘A-1’ and long-term credit rating of ‘A’ with a “stable” outlook, indicating the Bank’s robust position in the industry. The Bank continues to reaffirm its commitment to Pakistan with new branches and absolutely Halal & Shari’a compliant new products and services.

DIBPL intends to keep the momentum going for 2015 as well and continues to strive and expand its sphere of world class banking expertise with the largest Shari’a compliant product suite in retail, corporate, consumer, trade, commercial, treasury and investment banking services across Pakistan.

Borjan spring 2015 handbags exhibition

LAHORE (PR): Borjan celebrated its spring 2015 handbags exhibition across the country to enhance the fashion statement of its customers. Internationally acclaimed themes, La vie en Rose, Modern Geometry, and Metallic Luxe have been used. To cater to the needs of all its customers, more handbags with new themes will be regularly added as the exhibition progresses. Zahid Hussain, Chief Executive Officer Borjan, inaugurated the exhibition at its MM Alam Road outlet.

Turkish team  visits LES Khizerabad

LAHORE (PR): A Turkish delegation of two members including Engineer Ali Dameratus and Engineer Kadeer Audarlo visited Livestock Experiment Station Khizerabad and discussed the collaborative opportunities at the farm. Additional secretary Technical L&DD was also with the delegates.

While talking on the occasion, Livestock expert Engineer Ali Dameratus said that they were happy to see the progress at the LES farm and they were ready to help the PLDDB to develop the livestock sector.

Delegates also visited different departments of LES including Sahiwali Cow farming, Kajli sheep farming, silage production and other facilities to discuss the collaborative opportunities.

JJ summer lawn prints

KARACHI (PR): J.J. has launched new summer collection, packed with beautiful colours and extravagant designs for the entire family. A collection comprising of lawn, silk, chiffon, stitched unstitched items for men, women, teens and kids. The launch ceremony was held at Dolman Mall Clifton, Karachi the other day. It hosted an event to showcase their summer collection for the season which incorporates bright hues, a wide variety of fabrics that are surely to beat the heat in style.

11th academic council meeting held at VU

LAHORE (PR): The 11thmeeting of the Academic Council was held under the chairmanship of Dr Naveed A. Malik (S.I.), Rector Virtual University of Pakistan on Tuesday. Important decisions related to the growth and development of academics, research and associated matters were taken with the unanimity of the views of the participants. The Council approved the launching of new degree programs including B.Ed.(one year in Elementary Education), M.Ed. Program (Specialization in Educational Leadership & Management), PGD in Education, Associate Degree Program in Education,M.Phil.in Educational Leadership &Management and Post Graduate Diploma in TV Production.

The Council also approved the minutes of its 10thmeeting held on 16th January 2015 in which launching of Associate Degree Programs in the fields of ‘accounting & finance’, ‘islamic banking’, ‘human resource management’, ‘operations management’, ‘sales & marketing’ and ‘supply chain management’ and master programs in the field of ‘human resource management’, ‘mass communication’ and ‘operations & supply chain management’ along with ms in biotechnology was decided.

Warid Cricket Fever 2015

LAHORE (PR): With the ongoing World Cup hype, Warid Cricket Fever is now offering amazing services to keep their customers up to date with all the match updates.

The Warid Sports Android App allows users to enjoy live streaming of the World Cup cricket matches. Non-Android phone users can watch the matches through the Warid web portal.

In addition to live streaming, users get updates on match scores as well as a summary at the end. 2G/Edge users, however, will be able to watch the match highlights and boundaries only.

Warid customers can also subscribe to SMS alerts or tune in to live commentary. With the former there are two prospective alert options – Cricket SMS Alerts updating you on all the latest cricket action and Ball to Ball Cricket Updates whereby the subscriber is up to date by the minute on the bowling. The latter offer can be availed by dialling 2100 and listening to live cricket commentary on the go, anytime anywhere.

Olper’s campaign

KARACHI (PR): Olper’s Lassi has pledged to bridge the gap between the supporters & the Pakistan cricket team through the # KhulKeKhelo Campaign. #KhulKeKhelo is a celebration of the nation’s cricketing style. Some of the world’s finest cricket stadiums have seen the passion that emanates from this style that is a regular feature of the streets of Pakistan.

Cricket fans across the entire country have been given a chance a support the heroes in Australia.

 through on-ground video messages, Facebook videos, messages on social media & through the first-of-its-kind Interactive Message Wall. The interactive message wall gives fans a chance to come together to physically create short messages for their team. Placed across two popular locations in Karachi & Lahore (outside Dolmen Mall Clifton & Main Liberty Market), the wall is a testament of the love and the unwavering support of the people of Pakistan.