HABIBMETRO Bank H1 2021profit increases by 41pc.

KARACHI -- HABIBMETRO Bank posted a profit-before-tax of Rs. 9.7 billion for the first half of 2021, with its profitability increasing41.4% year-on-year. This boost in profitability was driven by strong performance in core earnings as the net interest margin improved by 34%. The bank's return to shareholders also increased significantly with earnings per share increasing by 51% year-on-year to Rs. 5.94 (compared to Rs. 3.93 in H1 2020).The Board Of Directors, in its recently held meeting, approved an interim cash dividend of 20% (Rs. 2 per share).

Total deposits of the bank increased to Rs. 764 billion at the end of June 2020, posting a growth of 27.7% year-on-year. Meanwhile, current deposits increased to Rs. 286 billion, growing by 29% year-on-year. CASA increased to Rs. 491 billion with a growth of 28.9% year-on-year. Gross advances amounted to Rs. 371.4 billion, increasing by 19.7% year-on-year.

The bank's total assets increased to Rs. 1.2 trillion, posting a growth of 27.4% year-on-year, while trade finance business continued its growth trajectory in the reporting period. The bank's net equity stood at Rs. 60.26 billion with a strong capital adequacy level of 15.4 percent.

HABIBMETRO continued to focus upon its digital offering and retail banking proposition, while...