HBL today declared a record consolidated profit before tax of Rs. 62.0 billion for 2021, achieving a growth of 17% over 2020. Profit after tax increased to Rs. 35.5 billion in 2021, also the highest ever, and earnings per share increased from Rs. 21.06 in 2020 to Rs. 23.88. The Bank declared a final dividend of Rs. 2.25 per share (22.5%).
During the year, HBL became the first bank with a Rs. 4 trillion balance sheet, with year-end footings of Rs. 4.3 trillion, a 12% growth over Dec’20. Domestic current deposits achieved the Rs. 1 trillion landmark, and total domestic deposits crossed the Rs. 3 trillion mark, improving market share to 14.14%. With a turnaround in the international businesses, HBL’s total deposits increased by 19% to Rs. 3.4 trillion.
Advances continued their growth trajectory, rising by 23% to reach Rs. 1.5 trillion with double digit growth across all lending units. HBL’s leading position in the Consumer business was further reinforced as the portfolio crossed the landmark number of Rs. 100 billion. HBL’s focus on priority sectors led to agriculture lending reaching an all-time high of Rs. 40 billion. Despite the strong growth in advances, the Bank’s Tier I and Total CAR remained well above regulatory requirements.
HBL delivered a record revenue of Rs. 168 billion in 2021, on the back of a Rs. 450 billion expansion in the average balance sheet and an impressive growth in non-fund income. The Bank’s net interest income increased to Rs. 131 billion, and...
Read Full Story: https://www.techjuice.pk/hbl-posts-record-profit-of-rs-62-0-billion-for-2021-focused-on-client-centricity-and-financial-inclusion-driven-by-digitalization/
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.