KARACHI (July 29 2010): The profit after tax (consolidated) of Habib Bank Limited (HBL) has increased to Rs 7.865 billion in the half year period ended June 30, 2010, as compared to Rs 6.099 billion earned in the corresponding period in 2009. The board of directors of the bank in its meeting held on Wednesday declared the bank's earning per share at Rs 7.77 in the period under review against Rs 6.16 in the same period last year.

The board of directors has not recommended any dividend, bonus, rights or other entitlement for shareholders based on the result of six months period ended June 30, 2010, information sent to Karachi Stock Exchange (KSE) said. According to the financial results, the bank's mark-up/return/interest earnings increased to Rs 39.675 billion in the half year period this year against Rs 37.473 billion in the same period last year. The bank's non-mark-up/interest income increased to Rs 6.306 billion against Rs 4.972 billion.

The bank's mark-up/return/interest expenses increased to Rs 17.135 billion in half year period this year against Rs 16.061 billion in the same period last year. The bank's operating expenditure increased to Rs 12.863 billion against Rs 11.394 billion.

The bank's profit before tax increased to Rs 12.764 billion in the first half of 2010 against Rs 9.872 billion in the same period in 2009. On quarterly basis, the bank's profit after tax increased to Rs 4.050 billion translating earning per share of Rs 4.03 in the quarter ended June 30, 2010 against profit of Rs 3.245 billion with per share earning of Rs 3.19 in the same quarter last year.

Copyright Business Recorder, 2010