KARACHI – HBL at the moment declared a consolidated revenue earlier than tax of Rs 55.6 billion for the primary 9 months of 2022, a rise of 20% over the identical interval final yr. Together with the outcomes, the Financial institution declared an interim dividend of Rs 1.50 per share (15%), taking the overall payout for 9M’22 to Rs 5.25 per share. Revenue after tax, nonetheless, declined by 12% to Rs 23.6 billion attributable to larger, extreme, and retrospectively utilized taxation launched within the Federal Finances which impacted EPS by Rs 6.42/share. The Financial institution’s earnings per share of Rs 15.95 is thus decrease than the EPS of Rs 18.21 in the identical interval final yr.
HBL’s stability sheet grew by 5% to Rs 4.5 trillion with complete deposits at Rs 3.Four trillion. The Financial institution grew its complete advances by 14% to Rs 1.7 trillion. The Financial institution’s main client portfolio of Rs 120 billion is 17% larger than in December 2021, and lending to the agriculture sector achieved one other all-time excessive of Rs 45 billion, a powerful development of 14%; HBL’s Industrial lending portfolio additionally crossed a milestone of Rs 100 billion. HBL Microfinance elevated loans by 36%, underlining the Financial institution’s progress on its monetary inclusion aims.
HBL’s complete income grew by 23% over the 9 months of 2021 to cross Rs 150 billion. Web curiosity revenue elevated by 19% to Rs 116 billion as the typical stability sheet elevated by Rs 564 billion. Non-fund revenue outperformed expectations, growing by 38% to Rs 35.6 billion. This was largely pushed by an distinctive development of 27% in charges and commissions, led by HBL’s flagship Playing cards enterprise with robust contributions from client finance, commerce, and branchless banking actions.
Commenting on the Financial institution’s 9M’22 efficiency, Muhammad Aurangzeb, President & CEO – HBL stated, “HBL demonstrated its continued and stated commitment to support its clients and keep lending to the real economy, so important in these difficult times, compounded by the devastating floods. The Bank continues to invest in its people, digital infrastructure, and business expansion, aligned with the key pillars of the Bank’s strategic vision. In consideration of the pressure on employees by the high level of inflation, escalating fuel prices and excessive taxation, particularly at the junior level, HBL provided support through a cost-of-living adjustment. In 9M’22, HBL also took the landmark step of raising the staff service age to 65, another first in the industry, which has been applauded by all stakeholders.”
HBL Playing cards stay the shoppers’ most well-liked alternative; utilization grew by 63% over final yr with spend surpassing Rs 200 billion within the 9 months of 2022. Digitalizing the shopper journey stays a precedence with 35% of bank cards and 24% of private loans acquired by way of HBL Cell.
HBL Status expanded its presence to 36 lounges throughout 14 cities, serving 11,000 shoppers with deposits of Rs 140 billion. The proposition has now been expanded to these excessive net-worth shoppers preferring Shariah-compliant banking options. HBL continued to dominate the Roshan Digital Initiative sustaining its market share of 20% of accounts opened and being the highest financial institution for channeling investments in Naya Pakistan Certificates. The Financial institution crossed the Rs 2 billion mark in Roshan Apni Automotive, setting an {industry} file for financing automotive loans for non-resident Pakistanis. HBL Nisa, the Financial institution’s main platform for ladies prospects, added over 43,000 new accounts; 25% of those have been beneath its Nisa Asaan product, focused in direction of the unbanked and underbanked ladies of Pakistan.
The Konnect Islamic app was launched in August 2022 and has onboarded 81,000 accounts. Complete variety of transactions by the top of 9M’22 stands at 167,000 with quantity exceeding Rs 700 million. The app gives shoppers a chance to open a shariah compliant variant of the product by way of a nation-wide community of 45,000 brokers. Roughly 47% of shoppers onboarded by way of the Konnect Islamic app are ladies which additionally furthers the Financial institution’s agenda of inclusivity.
HBL being the biggest SME lender has grown its enterprise by 20% on YoY foundation. The Financial institution launched “HBL Asaan Finance” geared toward small companies for collateral free financing.
HBL stays by far the dominant participant in agriculture lending which elevated by 22%, to Rs 45 billion. The Financial institution strengthened its management place in Digital Warehouse Receipt (EWR) financing and Dairy and Livestock financing. Because the Champion Financial institution for Balochistan, HBL has led the {industry} for the very best ever disbursements for the province for FY’22 with a development of 78%. HBL scaled up its agriculture pilot interventions considerably in 2022, masking 19,000 crop acres. HBL was ranked because the “Top Agri Lending Bank” by SBP within the Massive Banks class for FY’22.
HBL maintained its main place in money administration, with throughput rising by 66% to over Rs 9 trillion in 9M’22. Digital funds by way of the HBL Pay Enterprise Banking platform grew to almost Rs 5 trillion, with 27 million transactions. HBL is on the forefront of the Funding Banking panorama having closed transactions of over Rs 60 billion while securing varied new mandates throughout Q3’22, sustaining its strategic focus in direction of capital markets, Mergers & Acquisitions (M&A) and undertaking finance throughout telecom, oil & gasoline, water and renewable power sectors.
Constructing on the success of its FX portal, HBL Infinity, the Financial institution launched its Mounted Revenue Portal, HBL Symphony®, an in-house developed digitized resolution for establishments and corporates to execute transactions in GoP securities.
HBL Cell and Web Banking’s consumer base crossed the three million milestone. In 9M’22, roughly 87 million transactions valued at over Rs 1.5 trillion have been processed by way of these digital channels, up 57% and 106% respectively, in comparison with 9M’21. The Financial institution’s WhatsApp Banking processed over 1.eight million transactions in 9M’22. Konnect by HBL’s shopper base crossed 7.9 million, with a throughput of Rs 469 billion. Konnect stays the popular service supplier for the Authorities, serving greater than 2.1 million folks affected by the floods and over 6 million for focused gasoline subsidy. HBL Pay Checkout, HBL’s web fee gateway for e-commerce retailers additionally witnessed its e-commerce retailers base improve by 22% and processed transactions of Rs 26 billion throughout 9M’22, recording a development of 34% vs 9M’21. HBL additionally enabled freelancers and on-line sellers to get deposits from their world wallets instantly into HBL financial institution accounts, with a number of faucets on the HBL Cell.
By the efforts of the HBL Basis, the Financial institution offered greater than 14,000 meals rations throughout Balochistan and Sindh and distributed 3,100 tents in addition to 400 mosquito nets to the flood-affectedw inhabitants.
As an affirmation of its industry-leading standing and supply, HBL’s Funding Banking acquired Four awards throughout the interval from varied worldwide publications taking the overall to 20 awards up to now. HBL was Awarded Finest Progress Award by Inexperienced Funding Rules Secretariat in its 4th Plenary assembly on 14th September 2022.
