HBL today announced that its consolidated pre-tax profit for the year ended 31 December 2022 was Rs 77 billion, up 24 per cent from last year. With the results, the bank declared a final dividend of Rs 1.50 per share, bringing the total dividend to Rs 6.75 per share in 2022. However, after-tax profit decreased by 3% to Rs 34.
As a result of retroactive taxation, the bank income tax rate actually increased by 10%, from 39% to 49%. The balance of HBL increased by 7.4 per cent to Rs 4.6 trillion, with total deposits at Rs 3.5 trillion.
The bank ended the year with an increase of Rs 200 billion in current accounts and Rs 136 billion in low-cost savings and total domestic deposits of Rs 2.9 trillion. The CASA rate improved to 86.5%. In line with its stated intention to support its clients throughout the cycle, HBL will continue to provide loans, increasing domestic lending from INR 241 billion to INR 1.4 trillion, an increase of more than 20% compared to 2021.
The bank’s loan-to-deposit (ADR) ratio increased to 52.9%. flagship consumer business increased lending by 20 billion rupees to 122 billion rupees and commercial lending passed a key milestone of 100 billion rupees. HBL Microfinance also increased its consolidation efforts and increased its lending by 50 per cent to continue assisting the most vulnerable with Rs 85 billion.
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