Habib Metro Bank’s Profit Doubles in Q1

Habib Metro Bank geared up its financial performance from the last year with a record profit growth of 103 percent year-on-year in the first quarter of the calendar year 2021. According to the financial results, the bank had made a handsome profit of Rs. 3.32 billion in the period of January to March 2021, as compared to a profit of Rs. 1.63 billion generated last year during the corresponding period. It outperformed the competing banks in the outgoing year of 2020, making its ranking in the top ten profitable banks in Pakistan for the first time, and left behind its competing banks, including Askari Bank, Faysal Bank, and the Bank of Punjab, to become the ninth most profitable bank in the country. ALSO READ Engro’s Profits Surge to Over Rs. 14 Billion In the ensuing quarter of 2021, it also has set a handsome lead for its competition with its consistently improving financial performance. Habib Metro Bank has the edge of being a part of the famous business conglomerate that strengthens each other financially and operationally. It has been active in providing emerging services to customers via the Roshan Digital Accounts and the low-cost housing scheme. ALSO READ Pharmaceutical Exports Grew by 24.76% Over The Last Nine Months According to the financial results, the bank mainly translated its profit through its earning of interest income which had surged to Rs. 7.5 billion from Rs. 4.4 billion in the last year. Its earnings per share had surged to Rs. 3.10 from Rs. 1.48 in the first quarter, but the Board of Directors did not announce any dividends for the shareholders despite its outstanding financial performance, including the windfall profit growth. Habib Metro Bank claims to operate over 400 branches in 138 cities of Pakistan.