HBL posts strong results in first 9 months of fiscal year.

Habib Bank Limited (HBL) over the years, has grown its branch network and maintained its position as the largest private sector bank in Pakistan and is also shaping the future by a paradigm shift as a technology company with a banking license. HBL's multiple digital channels are assisting it get closer to its customers by innovative and frictionless ways. No doubt, the bank is a leading full-service commercial bank. The key areas of operation are Branch Banking, Corporate and Investment Banking, Treasury, SME and Rural Banking, Financial Institutions and Global Trade Services, Transaction Banking and Islamic Banking.

Presently in the financial statements for the nine months ended September 30, 2020, the financial experts of HBL noted that despite the Covid-19 situation and challenging environment, HBL's focus on customers and key activity drivers has delivered strong results, with profit-before-tax for the first nine months of 2020 greater than doubling to Rs 42.9 billion over the corresponding period previous year. The Bank's domestic franchise continues to gather momentum, leveraging HBL's innate brand strength. Profit after tax of Rs 25.3 billion for 9M'20 is almost three times higher than for 9M'19.

HBL enjoys a significant international footprint and is the largest domestic multinational. The Bank's international footprint is important as it provides opportunities to effectively serve its core customers across its network. As the leading financial intuition of Pakistan, HBL is at the forefront of all development initiatives which includes growth of priority sectors and targeting the unbanked population in the country. As the leading financial institution of Pakistan, HBL remains committed to its objective of financial inclusion for all segments of society. The financial experts of HBL also calculated that earnings per share (EPS) for 9M'20 grew to Rs 17.17 as against to Rs 5.89 for the corresponding period previous year. Domestic deposits increased by over Rs 300 billion during the first nine months of 2020, to Rs 2.5 trillion, with HBL's market share rising from 13.9 percent in December 2019 to 14.4 percent in September 2020.

The experts also mentioned in the statistics that the bank's total deposits grew to Rs 2.7 trillion, growing by 12.2 percent over December 2019. Consumer lending has grown 16 percent in just the last quarter, mostly driven by personal and auto loans - the Bank's market positioning in auto financing has jumped...