PR KARACHI - The board of directors of Bank AL Habib Limited has announced the financial results of the bank for the three months period ended 31 March, 2018.
As per the results, the bank declared the pre-tax profit of Rs3.40 billion for the three months period ended 31 March, 2018 as compared to Rs3.61 billion for the corresponding period. Profit after tax for the first quarter was recorded at Rs. 2.09 billion against Rs 2.30 billion for the corresponding period last year. Earnings per share (EPS) of the bank were recorded at Rs 1.88 per share.
The bank’s loan book expanded by 12.6 billion, standing at Rs 352.42 billion as on March 31, 2018, showing growth of 3.70 percent in net advances, compared to the last year end. Advances to deposits ratio (ADR) of the bank now stands at 49.07 percent. Prudent financing strategies and sound risk management policies of the bank resulted in decrease in non-performing to gross advances ratio to 1.41 percent as at March 31, 2018 as against 1.52 percent as on December 31, 2017. Coverage ratio of non-performing loans also improved to 145.80 percent as at March 31, 2018 from 144.32 percent in December 31, 2017. The deposits of the bank increased by 3.71 percent as compared to December 31,2017 reaching Rs. 718.26 billion as on March 31, 2018.
The bank’s branch network has now reached 661 branches/sub-branches having coverage in 240 cities of Pakistan and 3 branches and 3 representative offices outside Pakistan. In line with the bank’s vision to provide convenience to customers, the bank is operating the network of 749 ATMs across Pakistan.