Bank AL Habib Limited (the Bank) announced the financial results for the three months period ended March 31, 2020. According to the financial results, the Bank’s profit after tax recorded at Rs2.86 billion for the quarter ended March 31 showing a growth of 39%.
As compared to the same period last year and as compared to Dec’19 quarter by 14% YoY and 0.8% QoQ respectively.
Fee and Commission income which is earned mainly through trade business, general banking services, alternate delivery channels, etc., showed an increase of 18.25 percent over the corresponding period last year. The Bank’s foreign exchange income increased by 41.43 percent.
Non-Interest Income, on the other hand, remained dull having deteriorated by 26% on a QoQ basis. Weak Non-Interest Income kept overall revenue growth subdued.
The decline in Non-Interest Income, especially fee income (down 13% QoQ), is indicative of the effects of lockdown which started from mid-Mar’20.
Earning per share of the bank stands at Rs. 2.56 as compared with Rs. 1.85 last year.
The Bank has performed well in expanding revenue streams, showing an increase in its non-markup income by 21.69 percent over corresponding period last year.
