HABIBMETRO Bank posted a profit-before-tax of Rs. 13.8 billion for the nine months ended September 30th, 2020, with a healthy growth of 58.5% year-on-year. This boost in profitability was driven by strong performance in core interest margins and foreign exchange earnings. The Bank’s total non-funded income increased by 21% and amounted to Rs. 7 billion. It also posted an increased EPS of Rs. 7.89 (compared to Rs. 4.78 in September 2019).
During this period, the Bank’s total assets increased by 9.7% to Rs. 943 billion, and its deposit base increased by 7% to Rs. 654 billion. In line with its strategy to mobilize low-cost deposits, the Bank’s current deposits posted an impressive growth of 20% during the nine months of the year, and amounted to Rs. 211.2 billion. Moreover, the Bank registered continued growth in its trade finance business.
The Bank’s Net Equity stands at Rs.57.7 billion (inclusive of surplus on revaluation of investments of Rs.4.9 billion) with a strong capital adequacy level of 19.2 percent. In addition to this, the Bank also declared an interim cash dividend of Rs. 2 per share (20%) for the year ending December 31, 2020.
The Bank enhanced its digital offering with an increased focus on the retail segment, while continuing to drive returns through its commercial, corporate and Islamic banking business segments. Commenting on the Bank’s financial performance, Mr. Mohsin Ali Nathani, HABIBMETRO’s President and CEO, commented, ‘We owe the financial progress achieved during this year to the steadfast trust and patronage of our customers and the unwavering commitment of our staff. This year was challenging on many fronts, but our drive to serve our customers to the best of our abilities strengthened our resolve to perform. I am also grateful for the guidance and support extended by the SBP and the Government of Pakistan in navigating the economy through this period; the timely stimulus and relief programs introduced by them helped stabilize the economy and provided much needed support to businesses.”
HABIBMETRO Bank contributed to Pakistan’s globally recognized response to combat the COVI D-19 with concerted and timely CSR efforts amounting to over Rs. 55 million, including a Rs. 20 million contribution to the PM’s COVID-19 Relief Fund by the Bank and its employees.
The Pakistan Credit Rating Agency (PACRA) assigned premium credit ratings of AA+ and A1+ to HABIBMETRO Bank for the 19th consecutive year. The Bank currently operates with 400+ branches in more than 135 cities across Pakistan. HABIBMETRO Bank is a subsidiary of Habib Bank AG Zurich, an international banking group that enjoys a financial presence in 10 countries across 4 continents. Habib Bank AG Zurich completed 50 years of international banking operations in 2018. 
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