Karachi, October 27, 2022 (PPI-OT): Commercial Banks – Bank Al Habib Limited

Earnings: Bank Al Habib Limited (BAHL) announced its financial result for the third quarter of the year 2022. As per the financial result, the Bank reported earnings of PKR 5.3bn (PKR 4.8/share) during 3QCY22 compared to same period last year of PKR 4.9bn (PKR 4.4/share), an increase of +9%y/y. This brings 9mCY22 total earnings to PKR 15bn.

Dividends/Payouts: The bank did not announce an interim cash dividend this quarter.

Operating performance: During the period under review, the Bank reported net-interest income of PKR 20.4bn (up by +46%y/y) and non-interest income of PKR 6bn (up by +69%y/y). As a result, total revenue of the bank stood at PKR 26.4bn (up by +50%y/y). In addition, BAHL recorded operating expense of PKR 14.2bn (up by +46%y/y) that slightly decreases bank’s cost/income ratio to 54% (last year: 55%). The Bank booked a provision charge of PKR 1.8bn this quarter. Tax charge for this quarter came at PKR 5.1bn (effective tax rate of 49%).