KARACHI: In a meeting of Habib Metropolitan Bank’s Board of Directors, held on Thursday October 25, 2017, the financial results of the Bank for the period ended Sept 30, 2017 were approved.
The Bank posted a profit-before-tax of Rs. 5.74 billion at the end of the third quarter of 2017. Total assets amounted to Rs. 631.4 billion and deposits increased to over Rs. 474 billion. Meanwhile, gross advances increased by over 20% year-on-year and were registered in excess of Rs. 184.8 billion. Return on Equity and Assets marked at 11.66% and 0.75%, respectively. The profitable financial performance led HabibMetro Bank to record an annualized Earning Per Share of Rs. 4.13.
Net Equity stood at Rs. 37.3 billion with Capital Adequacy marking at a sound 16.76%. 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 HabibMetro Bank for the 17th consecutive year.
The Bank has 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.
HabibMetro continues to expand its footprint across Pakistan with a growing network of 315 branches in 91 cities across Pakistan, with an aim to further enhance its branch outreach in 2017. HabibMetro Bank is a subsidiary of Habib Bank AG Zurich, a multi-national banking group that enjoys a financial presence in 8 countries across 4 continents.