Bank Al-Habib has
announced net profits of Rs8.119 billion, translating into the earnings/share
(EPS) of Rs7.31 for the year ended December 31, 2016.
The earnings registered
an increase of 10 percent, as the bank had posted net profits of Rs7.405
billion and the EPS of Rs6.66 for 2015.
The result came higher
than the market expectations, as the bank booked capital gains worth Rs660
million during the last quarter of 2016.
Along with the result,
the bank also announced its annual dividend of Rs3.50/share.
The Net Interest Income
(NII) clocked in at Rs24.672 billion, one percent lower during 2016, as spreads
witnessed a dip during the year. Non-Interest Income stood at Rs5.052
billion in 2016, which was driven by hefty capital gains and growth in fee
income.
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