CONTENTS
Corporate Information
2
Directors' Review
4
Unconsolidated Condensed Interim Statement of Financial Position
6
Unconsolidated Condensed Interim Profit and Loss Account
7
Unconsolidated Condensed Interim Statement of Comprehensive Income
8
Unconsolidated Condensed Interim Statement of Changes in Equity
9
Unconsolidated Condensed Interim Cash Flow Statement
10
Notes to the Unconsolidated Condensed Interim Financial Statements
11
Consolidated Financial Statements
47
CORPORATE INFORMATION
Board of | Abbas D. Habib | Chairman |
Directors* | Anwar Haji Karim | |
Farhana Mowjee Khan | ||
Syed Mazhar Abbas | ||
Qumail R. Habib | Executive Director | |
Arshad Nasar | ||
Murtaza H. Habib | ||
Mohammad Rafiquddin Mehkari | ||
Javed Iqbal | ||
Adnan Afridi | ||
Mansoor Ali Khan | Chief Executive | |
Audit | Arshad Nasar | Chaired by** |
Committee | Syed Mazhar Abbas | Member |
Anwar Haji Karim | Member | |
Human Resource | Arshad Nasar | Chaired by** |
& Remuneration | Syed Mazhar Abbas | Member |
Committee | Abbas D. Habib | Member |
Farhana Mowjee Khan | Member | |
Credit Risk | Syed Mazhar Abbas | Chairman |
Management | Qumail R. Habib | Member |
Committee | Murtaza H. Habib | Member |
Risk Management | Adnan Afridi | Chairman |
Committee | Qumail R. Habib | Member |
Farhana Mowjee Khan | Member | |
Anwar Haji Karim | Member | |
IT | Abbas D. Habib | Chairman |
Committee | Qumail R. Habib | Member |
Arshad Nasar | Member | |
Syed Mazhar Abbas | Member | |
Mansoor Ali Khan | Member | |
IFRS 9 | Arshad Nasar | Chaired by** |
Committee | Qumail R. Habib | Member |
Company | ||
Secretary | Mohammad Taqi Lakhani |
*Election of Directors was held in the Annual General Meeting (AGM) of the Bank on March 29, 2022; State Bank of Pakistan's clearance has been requested and is in process.
**Meeting chaired by Mr. Arshad Nasar as requested/recommended by the Committees members.
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 |
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 quarter ended March 31, 2022.
Alhamdolillah, during the period under review, the performance of the Bank continued to
be satisfactory. The deposits increased to Rs. 1,367.5 billion as compared to Rs. 1,309.8 billion on December 31, 2021. In the same period, advances increased to Rs. 747.2 billion
from Rs. 733.8 billion, while investments decreased to Rs. 753.5 billion from Rs. 826.6
billion. The pre-tax profit of the Bank for the quarter ended March 31, 2022 was Rs. 8.18 billion as compared to Rs. 7.06 billion during the corresponding period last year. The profit
after tax for the quarter ended March 31, 2022 was Rs. 4.96 billion compared with Rs. 4.60
billion during 2021.
By the Grace of Allah, the Bank now has a network of 990 offices, comprising 957 branches, 29 sub-branches, and 4 Representative Offices. Our branch network includes 142 Islamic Banking Branches and 2 Overseas Branches. Continuing with our branch expansion policy, the Bank intends to open more branches during the year 2022.
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) have been upgraded from AA+ (Double A Plus) to AAA (Triple A) for TFC-2018 and TFC-2021, and AA (Double A) to AA+ (Double A Plus) for TFC-2017 (perpetual). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.
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: April 19, 2022 |
4
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Bank AL Habib Limited published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 05:43:27 UTC.