Bank Al Habib declares 18% decline in profit

KARACHI: The Bank Al Habib Limited has posted a decline of 18 per cent in the profit-after-tax for the quarter ended September 30, 2021, according to the financial results shared with the Pakistan Stock Exchange (PSX) on Wednesday.

The bank declared earnings per share of Rs4.43 for the quarter, compared with the EPS of Rs5.39 in the same quarter of the last year.

The bank did not announce any cash dividend, bonus share.

The profit-after-tax of the bank recorded a growth of 6.2 per cent to Rs14.06 billion for the nine months period ended September 30, 2021, compared with Rs13.24 billion in the same period of the last year.

The net markup income of the bank fell to Rs41.52 billion during January-September 2021, compared with Rs44.12 billion in the same period of the last year.

The non-markup income of the bank showed an increase of Rs9.94 billion for the nine months of the current year, compared with Rs7.21 billion in the same period of the last year.

The total income of the bank remained flat at Rs51.3 billion for the nine months period, which was Rs51.36 billion in the same period of the last year.

Likewise, operating expenses of the bank increased to Rs28.54 billion for the period under review, compared with Rs25.12 billion in the same months of the last year.

The bank’s earnings per share rose to Rs12.64 for the nine months period of current year, compared with the EPS of Rs11.91 in the same months of the last year.