Karachi: In a stellar display of financial performance, Habib Bank Limited (HBL) announced its fiscal year results for 2024, achieving a record profit of PKR 125.50 billion, a significant increase from last year's PKR 112.00 billion. This growth represents a 12% increase year-over-year.

The bank's success in the fiscal year, which ended on December 31, 2024, was primarily driven by an expansion in net interest income, which rose by 15% to reach PKR 180.00 billion, compared to PKR 156.00 billion in the previous year. Non-interest income also saw a robust increase, contributing PKR 48.50 billion to the bottom line, up from PKR 45.00 billion a year ago.

According to information available from the Pakistan Stock Exchange (PSX), HBL's asset quality improved, with non-performing loans decreasing to 1.9% of total loans, down from 2.1% in the previous year. The bank's capital adequacy ratio remained well above regulatory requirements at 15.3%.

The bank has proposed a final dividend of PKR 8.00 per share, bringing the total dividend for the year to PKR 14.00 per share. This move underscores HBL's commitment to delivering value to its shareholders and confidence in its financial stability and growth prospects.