KARACHI: HabibMetro Bank has posted a profit before tax of Rs 12.5 billion for the year 2015, registering a considerable year-on-year profitability boost of 71.5 percent.
The results were announced during the bank’s annual general meeting for the year that ended on December 31, 2015. A 20% cash dividend was approved, in addition to the interim cash dividend of 20% in 2015, amounting to a total cash dividend of 40% for the year.
The noteworthy boost in profitability and performance led HabibMetro Bank to enhance its EPS by 55.5% to Rs 7.31. The bank’s shareholders expressed appreciation of the results and lauded the efforts of the HabibMetro Bank’s board of directors and management.
Total assets augmented by 23.3% and amounted to Rs 489.9 billion, while deposits exhibited an increase of 26% and exceeded Rs 400 billion. A significant net margin year-on-year increase of 28.6% was registered while return on equity and assets marked at 24.2% and 1.7%, cost-to-income ratio improved to 37.3% and fee income increased noticeably by 17.8%.
Capital adequacy marked at a strengthened 18.4% demonstrating a financial robustness that was further validated by the Pakistan Credit Rating Agency (PACRA) assigning premium credit ratings of AA+ and A1+ credit ratings to HabibMetro Bank for the 15th consecutive year, in 2015. HabibMetro Bank was also awarded as Asian Development Bank’s ‘Leading Partner in Pakistan’ in 2015, in recognition of the bank’s role in facilitating regional trade.
