Bank AL-Habib Limited (BAHL) announced it’s the Half Year 2019 financial Performance where it posted Net Profit of Rs. 4.4billion (EPS: Rs 4.0) as compared to Rs. 4.2 billion (EPS: Rs. 3.8) in the same period last year. Bank didn’t announce any dividend.
On a quarterly basis, 2QCY19 Net Profit stood at Rs. 2.4 billion (EPS: Rs. 2.15 rising by 16.8% from March-19 Quarter. The result remained below analysts expectation as Bank booked higher than expected provisioning against Bad Loans. Half Year Provisioning was recorded at Rs. 2.1 billion as compared to a Net reversal of Rs.114 million in the same period last year.
The bank earned hefty FX income of Rs. 814 million in June Quarter leading to record profit for the quarter.
|Rupees in Million||1HCY19||1HCY18||%Change|
|Net Interest Income||19,532||14,920||31%|
|Profit before Tax||8,530||7,102||20%|
|Profit After Tax||4,443||4,214||5%|