CONTENTS | |
Corporate Information | 2 |
Directors' Review | 4 |
Independent Auditors' Review Report to the Members of Bank AL Habib Limited | 6 |
Unconsolidated Condensed Interim Statement of Financial Position | 7 |
Unconsolidated Condensed Interim Profit and Loss Account | 8 |
Unconsolidated Condensed Interim Statement of Comprehensive Income | 9 |
Unconsolidated Condensed Interim Statement of Changes in Equity | 10 |
Unconsolidated Condensed Interim Cash Flow Statement | 11 |
Notes to the Unconsolidated Condensed Interim Financial Statements | 12 |
Consolidated Financial Statements | 50 |
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CORPORATE INFORMATION | ||
Board of | Abbas D. Habib | Chairman |
Directors | Adnan Afridi | |
Anwar Haji Karim | ||
Arshad Nasar | ||
Farhana Mowjee Khan | ||
Javed Iqbal | ||
Mohammad Rafiquddin Mehkari | ||
Murtaza H. Habib | Executive Director | |
Qumail R. Habib | ||
Syed Mazhar Abbas | ||
Mansoor Ali Khan | Chief Executive | |
Audit Committee | Mohammad Rafiquddin Mehkari | Chairman |
Anwar Haji Karim | Member | |
Arshad Nasar | Member | |
Farhana Mowjee Khan | Member | |
Syed Mazhar Abbas | Member | |
Human Resource & | Arshad Nasar | Chairman |
Remuneration | Abbas D. Habib | Member |
Committee | Farhana Mowjee Khan | Member |
Murtaza H. Habib | Member | |
Syed Mazhar Abbas | Member | |
Credit Risk | Syed Mazhar Abbas | Chairman |
Management | Arshad Nasar | Member |
Committee | Mohammad Rafiquddin Mehkari | Member |
Murtaza H. Habib | Member | |
Qumail R. Habib | Member | |
Risk Management | Adnan Afridi | Chairman |
Committee | Anwar Haji Karim | Member |
Farhana Mowjee Khan | Member | |
Mohammad Rafiquddin Mehkari | Member | |
Qumail R. Habib | Member | |
IT Committee | Abbas D. Habib | Chairman |
Arshad Nasar | Member | |
Javed Iqbal | Member | |
Qumail R. Habib | Member | |
Mansoor Ali Khan | Member | |
IFRS 9 | Arshad Nasar | Chairman |
Committee | Farhana Mowjee Khan | Member |
Qumail R. Habib | Member | |
Company | ||
Secretary | Mohammad Taqi Lakhani |
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Chief Financial | |
Officer | Ashar Husain |
Statutory | EY Ford Rhodes |
Auditors | Chartered Accountants |
Legal | LMA Ebrahim Hosain |
Advisor | Barristers, Advocates & Corporate Legal Consultants |
Registered | 126-C, Old Bahawalpur Road, |
Office | Multan |
Principal | 2nd Floor, Mackinnons Building, |
Office | I.I. Chundrigar Road, |
Karachi | |
Share | CDC Share Registrar Services Limited |
Registrar | CDC House 99-B,Block-B, S.M.C.H.S. |
Main Shahrah-e-Faisal,Karachi-74400. | |
Website | www.bankalhabib.com |
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DIRECTORS' REVIEW
It is our pleasure to present the un-audited financial statements of Bank AL Habib Limited along with the un-audited consolidated financial statements of Bank AL Habib Limited and the Bank's Subsidiaries AL Habib Capital Markets (Private) Limited and AL Habib Asset Management Limited for the half year ended June 30, 2023.
Alhamdolillah, during the period under review, the performance of the Bank continued to be satisfactory. The deposits increased to Rs. 1,809 billion as compared to Rs. 1,568.1 billion on December 31, 2022. In the same period, advances decreased to Rs. 774.2 billion from Rs. 813.5 billion, while investments increased to Rs. 1,163.2 billion from Rs. 1,158.5 billion. The pre-tax profit of the Bank for the half year ended June 30, 2023 was Rs. 30.95 billion as compared to Rs. 18.42 billion during the corresponding period last year. The profit after tax for the half year ended June 30, 2023 was Rs. 18.09 billion compared with Rs. 9.63 billion during 2022.
The Board of Directors, in its meeting held on August 23, 2023, has declared an interim cash dividend of 45%, i.e., Rs. 4.50 per share for the half year ended June 30, 2023.
By the Grace of Allah, the Bank now has a network of 1,095 offices, comprising 1,062 branches, 29 sub-branches, and 4 Representative Offices. Our branch network includes 181 Islamic Banking Branches and 2 Overseas Branches. Continuing with our branch expansion policy, the Bank intends to open more branches during the year 2023.
Alhamdolillah, Pakistan Credit Rating Agency Limited (PACRA) has maintained the Bank's long term entity and short term entity ratings at AAA (Triple A) and A1+ (A One plus), respectively. This long term credit rating AAA (Triple A) denotes the highest credit quality with the lowest expectation of credit risk, and indicates exceptionally strong capacity for timely payment of financial commitments.
The ratings of our unsecured, subordinated Term Finance Certificates (TFCs) are AAA (Triple A) for TFC-2018,TFC-2021 and TFC-2022, and AA+ (Double A plus) for TFC-2017 (perpetual) and TFC-2022 (perpetual). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. Further, the TFC-2022 & the TFC-2022 (perpetual) issued in 2022, were listed on Pakistan Stock Exchange (PSX) pursuant to Chapter 5C of PSX Rule Book.
We wish to thank our customers, for their continued trust and support, local & foreign correspondents for their confidence and cooperation, and the State Bank of Pakistan for their guidance. We also thank all our staff members for their sincerity, dedication and hard work.
Mansoor Ali Khan | Abbas D. Habib |
Chief Executive | Chairman |
Board of Directors | |
Karachi: August 23, 2023 |
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Bank AL Habib Limited published this content on 28 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2023 07:30:01 UTC.