November 27, 2014 6:09 PM ET

Banks

Company Overview of Habib Bank Limited

Company Overview

Habib Bank Limited, together with its subsidiaries, provides commercial banking, modaraba management, and asset management related services in Pakistan. The company’s retail banking products and services include deposits accounts, such as term, current, savings, and foreign currency accounts; bancassurance products; car, home, and personal loans; and ATM, Internet banking, debit card, credit card, and mobile banking services. Its corporate banking services include working capital finance, pre and post shipment export financing, import financing, LMM funding, receivable discounting, Islamic banking facilities, and cash management services, as well as trade services, which include letter of cr...

Habib Bank Plaza

I.I. Chundrigar Road

Karachi,  75650

Pakistan

Founded in 1947

13,825 Employees

Phone:

92 21 3241 8000

Fax:

92 21 3921 7511

Key Executives for Habib Bank Limited

Habib Bank Limited does not have any Key Executives recorded.

Habib Bank Limited Key Developments

Allied Bank And Habib Bank Near Privatization

Privatisation Commission Chairman Muhammad Zubair said the sale of government shares in Allied Bank Limited (KASE:ABL) would be completed by December 2014 and for Habib Bank Limited (KASE:HBL) by March 2015. The commission has appointed lead managers and book runners for divesting the government's residual shares in Allied Bank Limited.

Habib Bank Limited Reports Unaudited Consolidated and Unconsolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Recommends Interim Cash Dividend for the Quarter Ended September 30, 2014

Habib Bank Limited reported unaudited consolidated and unconsolidated financial results for the third quarter and nine months ended September 30, 2014. For the nine months, on consolidated basis, the company reported interest earned were PKR 101,237,260,000 against PKR 91,111,239,000 for the same period last year. Profit before tax was PKR 33,261,338,000 against PKR 25,066,177,000 for the same period last year. Profit attributable to equity holders of the company was PKR 21,787,418,000 or PKR 14.85 per basic and diluted share against PKR 16,573,700,000 or PKR 11.30 per basic and diluted share for the same period last year. Net interest income was PKR 49.5 billion against PKR 40.4 billion during the same period last year. The increase in net interest income is attributable to change in deposit mix, repositioning of investments from short term to long term and volumetric growth. For the quarter, on consolidated basis, the company reported interest earned were PKR 35,018,901,000 against PKR 29,551,091,000 for the same period last year. Profit before tax was PKR 11,115,713,000 against PKR 9,197,313,000 for the same period last year. Profit attributable to equity holders of the company was PKR 7,300,901,000 or PKR 4.98 per basic and diluted share against PKR 6,196,937,000 or PKR 4.22 per basic and diluted share for the same period last year. For the nine months, on unconsolidated basis, the company reported interest earned were PKR 99,478,745,000 against PKR 89,401,707,000 for the same period last year. Profit before tax was PKR 31,558,109,000 against PKR 23,687,573,000 for the same period last year. Profit after tax was PKR 20,496,848,000 or PKR 13.97 per basic and diluted share against PKR 15,495,856,000 or PKR 10.56 per basic and diluted share for the same period last year. For the quarter, on unconsolidated basis, the company reported interest earned were PKR 34,391,955,000 against PKR 28,911,846,000 for the same period last year. Profit before tax was PKR 10,740,762,000 against PKR 9,065,273,000 for the same period last year. Profit after tax was PKR 6,954,663,000 or PKR 4.74 per basic and diluted share against PKR 6,059,894,000 or PKR 4.13 per basic and diluted share for the same period last year. The board of directors has recommended an interim cash dividend for the quarter ended September 30, 2014 of PKR 2.25 per share that is 22.5%. The above entitlement will be paid to the shareholders whose names will appear in the register of members on November 07, 2014.

Advisors For HBL, ABL Sell-Off To Be Named Soon

Financial advisors for the transactions of Habib Bank Limited (KASE:HBL) and Allied Bank Limited (KASE:ABL) will be appointed soon as the process is in “advanced stage”, Finance Minister Ishaq Dar was informed on October 17, 2014. In a meeting to review the government’s privatization program and other capital market transactions, Privatization Commission Chairman Muhammad Zubair informed that the basic work relating to education of prospective investors at many places internationally or at key capital markets for divestment of Oil and Gas Development Co., Ltd. (KASE:OGDC) shares was completed as allowed by the Supreme Court of Pakistan. Further developments in this regard will be planned in the light of guidance to be provided by the apex court, he said.

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