Home Pakistan News HBL Makes a Profit of Rs. 3.1 Billion in 1st Quarter 2019

HBL Makes a Profit of Rs. 3.1 Billion in 1st Quarter 2019

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HBL made a profit of Rs. 3.17 billion in the first quarter of 2019 compared to Rs. 4.6 billion last year.

The retrospective imposition of Super Tax on 2017 profits reduced the bank’s post-tax earnings by Rs 1.9 billion. Without this additional tax, the after-tax profit of HBL Rs would have been. 5.1 billion, 9% more than in the first quarter of 2018. On the other hand, operating expenses, including Pakistan’s Super League, grew 21 percent to Rs. 21.6 billion last year.

HBL’s core internal business continues to strengthen, with all key managers on a positive record. Total domestic deposits increased by 2% to Rs. 1.9 trillion and its leading market share further increased to 14.3%.

The total advances of HBL increased by 1.0% compared to last year to Rs. 1.1 trillion while its ADR was 54%.

The bank’s earnings per share are at Rs. 2.08. Along with the results, the board declared a dividend of Rs. 1.25 / – per share (12.5%). The profit before tax for the three months of 2019 was Rs. 8.4 billion, a 14% increase over the same period last year.

The strong growth in average domestic deposits (Rs.120bn in Q1’18 growth) coupled with a steady national average advances performance (almost Rs 200bn growth in Q1’18) and the net improvement interest margin contributed to domestic interest income increased by 17% compared to the first quarter of the year.

With the rebuilding of HBL’s international business, the bank’s net interest investments increased by 19% during the same period last year. Domestic commissions increased by 17% year-on-year, while the bank’s total non-bank income recorded a 22% growth over the same period last year.

The first quarter of 2019 accelerated the commercial momentum of 2018. This business momentum is supported by the introduction of technology-backed financial products, improving control and compliance frameworks, effective management structures and best practice alignment. international organizations in most areas of their work.

Innovation and Digital Banking:-

As the largest bank in Pakistan, HBL continued to consolidate its position as the leading digital bank in Pakistan, doing business and serving its corporate clients and consumers. HBL plans to shape the future through a switch to a banking company technology company.

The launch of ‘HBL Infinity’ is another digital initiative in which the bank has expanded its suite of digital products to create convenience for corporate clients. HBL Infinity is the first innovative online platform in Pakistan that offers a trading experience through real-time execution and FX pricing. This provides HBL clients with a more efficient and frictionless digital solution to their business needs while meeting the currency exchange SBP guidelines.

In addition, HBL is also the first bank in Pakistan that enabled Chip and PIN functionality on all new credit and debit cards and online purchases. Chip cards (EMV) are safer because they are more difficult to clone / copy, thereby reducing forgery / fraud while providing convenience to clients using HBL cards.

Protecting customer data is something HBL knows very well, as it moves to a digital future. SWIFT Completion of CSP (Client Security Program) to SWIFT’s Security Footprint is an important initiative to secure electronic transactions through HBL.

HBL regards clients as its key stakeholders, and continually improving customer service is the true barometer of our commercial health. The bank has adopted self-evaluation tools capable of delivering fair treatment to consumers (FTC).

Work current business transformation HBL entered its final stage in the first quarter of 2019. The bank’s business processes are now more streamlined than ever and are scalable to meet customer service demands. The bank is now closer to its new commercial standard to run first-class business in a first-class manner. In addition, HBL is recognized as the first bank with ISO certification in Pakistan, a global capability to support HBL’s various disaster situations / interruptions as well structured through a strong program of business continuity (BCP).

Recognition and Awards:-

During the first quarter of 2019, HBL is still recognized for its outstanding brand, products and services, as well as its ability to execute historical agreements. HBL has won the Asiamoney 2019 Best National Bank Awards, the Best Corporate and Investment Bank Awards and the Best Bank for CSR. HBL also won the 2019 Global Banking & Finance Awards for the best investment bank in Pakistan and the best Sukuk agreement in Pakistan. The Asian banker declared HBL the best retail bank in Pakistan.

HBL’s 4th HL PSL sponsorship highlights the bank’s youth development and talent discovery efforts for Pakistan. This year, the bank also hired Pakistani overseas in the UAE and provided more than 1,000 workers the opportunity to see the exciting cricket matches for free.

The commercial momentum and performance of the first quarter of 2019 has been strongly proven to remain focused for the rest of 2019, alongside our commitment to our clients, shareholders and communities in general to move the HBL franchise to the next level. take.

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