Karachi – 28 July 2022: HBL today declared a consolidated profit after tax (PAT) of Rs 12.1 billion for H1 2022, lower than the Rs 18.0 billion in H1 2021 as a result of the extremely high and retrospective taxes announced in the Federal Budget. Earnings per share for the quarter were Rs 2.32, bringing earnings per share for the half year to Rs 8.10. Along with the results, the Bank declared a dividend of Rs 1.50 per share (15%) for the second quarter ended on June 30, 2022, more in line with the results. The Bank’s profit before tax was Rs 34.6 billion for H1 2022, 11% higher than the profit of Rs 31.2 billion in the same period last year.
HBL has become the first bank to achieve a Balance Sheet size of Rs 5.0 trillion, driven by strong deposit mobilization. Total deposits reached Rs 3.8 trillion, a growth of Rs 370 billion over December 2021. Strong mobilization efforts resulted in a 10% growth in domestic deposits, which reached Rs 3.4 trillion with market share growing to 14.32%. In line with its stated intent and commitment, HBL continues to support customers through these difficult times, standing ready and willing to meet clients’ demand for credit. In just the first six months, the Bank’s total advances grew by 10% over December 2021 to Rs 1.7 trillion with growth across all lending businesses.
The Bank’s net interest income grew by 14% over H1 2021 to Rs 73.9 billion as the average balance sheet grew by over Rs 500 billion although spreads declined marginally. Fee...
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