KARACHI: In a meeting of Habib Metropolitan Bank’s board of directors, held on Thursday August 17, the financial results of the bank for the year ended June 30, 2017 were approved.
The bank posted a profit-before-tax of Rs 4.09 billion for the first half of 2017. Total assets amounted to Rs 565 billion and deposits increased to over Rs 455 billion.
Meanwhile, gross advances increased by over 17 per cent year-on-year and were registered in excess of Rs 186 billion. Return on Equity and Assets marked at 12.21 per cent and 0.82 per cent, respectively. The profitable financial performance led Habib Metro Bank to record an annualised earning per share of Rs 4.28.
Net Equity stood at Rs 36.2 billion with Capital Adequacy marking at 16.62 per cent. This demonstrated 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 Habib Metro Bank for the 17th consecutive year.
The bank had been recognized with the “Best SME Deal of the Year” by the Asian Development Bank in 2017. Earlier in 2016, the bank was awarded as the ADB’s “Leading Partner in Pakistan” for the 2nd consecutive year, in addition to the winning the ‘Leading SME Trade Bank’ award.
The bank continues to expand its footprint across Pakistan with a growing network of 308 branches in 88 cities across Pakistan, with an aim to further enhance its branch outreach in 2017.
