HBL today declared a consolidated profit before tax of Rs 46.4 billion for 9M’21, a growth of 8% over the same period last year. Profit after tax increased to Rs 27.0 billion, with earnings per share increasing to Rs18.21 in 9M’21 compared to Rs 17.17 in 9M’20.

HBL has the industry’s largest balance sheet which further increased to Rs 4.1 trillion, in the nine months of 2021. This was achieved by continued strong growth in deposits, which increased by more than Rs 330 billion (12%) during 2021 to Rs 3.2 trillion; the Bank’s industry-leading current account book exceeded Rs 1.1 trillion.

With HBL ready and willing to lend in support of economic growth, domestic advances continued to increase, rising by 9.0% over Dec’20 and surpassing Rs 1.1 trillion. Our flagship Consumer assets have continued their strong, well-managed growth and crossed Rs 95 billion in the current quarter. With international franchises on a growth trajectory, HBL’s total advances increased by 12% over Dec’20, to Rs 1.4 trillion.

HBL registered total revenue of Rs 123 billion as the strong growth in fees and balance sheet volumes were able to offset the impact of industry-wide margin compression. The Bank recorded a net interest income of Rs 97.2 billion, driven by a Rs 400 billion growth in average balance sheet volumes. Fee income showed an impressive growth of 34% to Rs 17.9 billion, driven by a stellar performance from the Cards and Consumer businesses and strong growth in domestic trade volumes which surpassed the $10 billion mark for the first time.