Habib Metro Bank (HMB) notified its financial results for March-2021 Quarter where it reported higher than expected profit of PKR 3.2 Billion (Earning Per Share: PKR3.08), marking 111% YoY increase. The bank did not announce any interim dividends.
Net Interest Income (NII) increased by massive 71% as compared to same period last year. NII was higher than expected on account of lower mark up expense on Deposits. Going forward, NIMs are expected to remain same at least till June-201 as Bank has significant inventory of Fixed Rate Bonds purchased at higer yields.
Non-funded income witnessed a decline of 5% YoY, owing to lower FX gains and absence of Capital Gains on Securities during the Quarter.
Significant increase in provisioning expense was recorded as it increased by 106%YoY to PKR 998 million.
| Habib Metro Bank | |||
| (PKR in Million) | Mar’21 | Mar’20 | % YoY |
| Net Interest Income | 7,372 | 4,323 | 71% |
| Non-Interest Income | 2,162 | 2,271 | -5% |
| Fee income | 1,639 | 1,342 | 22% |
| FX income | 479 | 782 | -39% |
| Gain on securities | 2 | 104 | -99% |
| Non-Int. Expense | (3,776) | (3,577) | 6% |
| Provisions | (998) | (484) | 106% |
| Profit Before Tax | 4,759 | 2,533 | 88% |
| Profit After Tax | 3,225 | 1,526 | 111% |
| Earning per Share | 3.08 | 1.46 | |
| Dividend | – | – |
Latest posts by Adnan Syed (see all)
- Australia, England Cricket teams unlikely to visit Pakistan after NZ departure - September 18, 2021
- India used American company to spy on Pakistan, China - September 18, 2021
- Italian Cos seeking Investment Opportunities in Pakistan - September 18, 2021
