Habib Bank Limited (HBL): 2QCY24 EPS clocks in at PKR 9.81, up 11% YoY; DPS PKR 4.00 – By Alpha - Akseer Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">HBL announced the 2QCY24 result today wherein the bank recorded an EPS of PKR 9.81, up 11% YoY. The bank declared a cash dividend of PKR 4.0/sh, taking the payout for 1HCY24 to PKR 8.0/sh.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Net interest income remained flattish at PKR 61.0bn (+5% YoY) for 2QCY24. Interest expense accelerated at a faster pace (up by 32% YoY) to PKR 148.2bn, versus interest income which increased by 23% YoY to PKR 209.2bn.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Non-interest income increased by 25% YoY to PKR 19.4bn on the back of a notable increase in FX income by 2.7x YoY to PKR 2.1bn.</span></li></ul><p></p>