Karachi, Habib Bank Limitedinformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August02, 2018.
The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for quarter ended June 30, 2018 which portrayed a profit of Rs. 3,440,431 and Rs. 3,612,025 with earnings per share 2.29 and 2.46 basic and diluted respectively.
Further, 10% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from September11, 2018 to September17, 2018 (both days inclusive).
Habib Bank Limited is incorporated in Pakistan as a commercial bank in 1947 and the foundations of the company are laid under the Banking Ordinance of Pakistan and Companies Ordinance, 1984. The company is engaged in the business of commercial banking, modaraba management and asset management related services in Pakistan and overseas. The shares of the bank are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The bank has a branch network of over 1,500 branches inside Pakistan including 33 Islamic banking branches and 43 branches outside the country including Karachi Export Processing Zone. The bank also has 1,300 ATMs across the country and a customer base exceeding five million relationships. The bank has presence in 25 countries, subsidiaries in Hong Kong and the UK, affiliates in Nepal, Kenya and Kyrgyzstan and rep offices in Iran and China. The bank is also expanding its presence in principal international markets including the UK, UAE, South and Central Asia, Africa and the Far East.
The Government of Pakistan privatized HBL in 2004 through which the Aga Khan Fund for Economic Development acquired 51% of the Bank’s shareholding and management control, 42.5% of the shareholding is retained by the Government of Pakistan, whilst 7.5% is owned by the general public i.e. over 170,000 shareholders following the public listing that took place in July 2007.
The symbol “HBL” is being used by the stock exchanges for the shares of Habib Bank Limited.