Bank AL Habib : BAHL - Transmission of Quarterly Report for the period ended March 31, 2023

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	48

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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

2

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

3

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, 2023.

Alhamdolillah, during the period under review, the performance of the Bank continued to be satisfactory. The deposits increased to Rs. 1,726.9 billion as compared to Rs. 1,568.1 billion on December 31, 2022. In the same period, advances increased to Rs. 879.3 billion from Rs. 813.5 billion, while investments decreased to Rs. 1,134.9 billion from Rs. 1,158.5 billion. The pre-tax profit of the Bank for the quarter ended March 31, 2023 was Rs. 16.56 billion as compared to Rs. 8.18 billion during the corresponding period last year. The profit after tax for the quarter ended March 31, 2023 was Rs. 10.54 billion compared with Rs. 4.96 billion during 2022.

By the Grace of Allah, the Bank now has a network of 1,085 offices, comprising 1,052 branches, 29 sub-branches, and 4 Representative Offices. Our branch network includes 178 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.

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, 2023

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8.18

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