HBL Robust But Faces Drop in Profits

HBL Profit, Diamer Bhasha Dam Construction Fund,National Bank of Pakistan, Konnect mobile app, Islamic Financing and corporate loans, banking news in pakistan

Commercial Banks have suffered in business in 1st half of 2018 and like others HBL has recorded a loss of nearly 48% as compared to same period last year. Bank has however earned a profit Rs 8.1 Bn as compared to Rs 15.6 Bn in the previous year. Bank has announced a dividend of Rs 2.00 per share for first six months of 2018 while earning Rs 5.42 per share.

HBL domestic business has grown tremendously and it holds 14.4% of total market and in terms of deposits it boasts a deposit of Rs 1.9 Trillion. 15% increase in growth was observed as compared to last year in current accounts as they increased by Rs 80 Bn. With the increased interest in Islamic Financing and corporate loans, the bank earned more than Rs 91 Bn by lending money, an impressive figure by all accounts.

The increase in business of HBL can be attributed to their strong presence in the market with as many as 1700 branches, over 2000 ATM outlets and more than 30,000 retail outlets across the country. So far during 2018, HBL has gained more than 600,000 customers which is an achievement in itself. Moreover, HBL has introduced Konnect which has serviced more than half a million customers so far including more than 25% women.

In a bid to return to the community from where they are earning HBL has also announced a deposit of Rs 100 million in Diamer Bhasha Dam Construction Fund. HBL remains a forward looking domestic brand and is set to lead the way by using cutting edge technology and innovative marketing methods to remain top of the chart.

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