Habib Bank Limited has become the first bank to get deposits worth of Rs. 3 trillion in the Pakistani banking industry from its clients.
The peer banks, National Bank of Pakistan and United Bank Limited have mobilized a deposit base of more than Rs. 2 trillion, but they are still far behind HBL.
The bank’s balance sheet strength grew by almost 600 billion rupees during the quarter, crossing the 4 trillion rupee mark, a growth of 7% over December 2020. The strong deposit growth led HBL to become the first bank in Pakistan to mobilize a deposit. Base of more than Rs. 3 trillion while achieving another industry first: checking accounts that exceed rupees. 1 trillion, said by officials.
Domestic advances achieved a milestone of Rs. 1 trillion.
HBL with Rs. 18 Billion Profit in H1 2021
The bank reported a 19 percent increase in profit during the first half of 2021. HBL reported a profit of Rs. 18.02 billion related to a profit of Rs. 15.18 billion in the equivalent period last year, with earnings per share growing from Rs. 10.32 in the first half of 2020 to Rs. 12.04 in the first half of 2021.
The bank declared a dividend of Rs. 1.75 per share (17.5 percent), Along with the results
The bank’s consumer business posted a strong performance, with its industry-leading loan portfolio growing by 14 percent during December 2020 to Rs. 90 billion.