Islamabad: Habib Bank Limited (HBL) announced key resolutions at its 83rd Annual General Meeting held on March 26, 2025, at Serena Hotel, Islamabad. The meeting, conducted in compliance with Clause 5.6.9 (b) of the Pakistan Stock Exchange (PSX) Regulations, saw the adoption and approval of several significant resolutions by the shareholders.
During the meeting, shareholders adopted the Audited Accounts for the fiscal year ending December 31, 2024. The consolidated and unconsolidated accounts, along with reports from the Chairman, Directors, and Auditors, were presented and approved. Additionally, the Board of Directors recommended a final cash dividend of Rs. 4.25 per share, which equates to a 42.5% payout for the year. This is supplementary to the interim cash dividends of Rs. 12.00 per share, or 120%, already disbursed to shareholders by December 31, 2024.
Furthermore, the appointment of auditors for the upcoming fiscal year was addressed. The shareholders approved the reappointment of M/s. KPMG Taseer Hadi and Co., Chartered Accountants, as the External Auditors for the year ending December 31, 2025. The agreed audit fee is Rs. 52.349 million, with additional federal or provincial taxes and out-of-pocket expenses to be paid at actuals.
A major highlight of the meeting was the approval of an equity investment in HBL Microfinance Bank Limited. The shareholders authorized an investment of up to Rs. 2 billion, contingent upon approval from the State Bank of Pakistan. The Board of Directors or authorized individuals were empowered to execute the necessary actions to facilitate this investment.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions mark significant strategic movements for HBL, underscoring its commitment to expanding its financial footprint while ensuring robust shareholder returns.
This meeting and its resolutions reflect HBL’s strategic priorities in the designated market category of banking and financial services, aligning with its long-term growth objectives.