The bank was the only of the three top banks (including MCB Banka and Allied Bank) to witness an upside in net interest income by 7% to Rs 2,660 Crore despite expected contraction in margins due to higher earning assets. The growth is likely on the back of balance sheet expansion, according to a Burj Research. Analysts are still estimating the core reasons as detailed account have yet to be released.
In another upside, the bank witnessed a sizeable decline of 55% in provisioning expense. Surprisingly, operating expenses have dropped sharply by 12% on a quarterly basis.
HBL did not declared any cash payouts alongside the result.
The strong results are announced at times when there are news in market that Habib Bank’s visionary Leader Zakir Mehmood is planning to left, although there has been no official announcement yet.
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