Karachi: Habib Metropolitan Bank Ltd. has released its financial results for the year ending December 31, 2024, following approval by the Board of Directors at a meeting held in Karachi on February 19, 2025. The bank has declared a final cash dividend of Rs. 4.50 per share, equivalent to 45 percent, complementing the interim dividends of Rs. 7.50 per share already distributed, bringing the total dividend to Rs. 12.00 per share, or 120 percent.

According to the financial statements, Habib Metropolitan Bank reported a total income of 91.60 billion rupees for 2024, up from 86.71 billion rupees in 2023. The bank's net mark-up or interest income narrowed slightly to 70.31 billion rupees from 71.42 billion rupees in the previous year. Non-mark-up or interest income rose to 21.29 billion rupees compared to 15.29 billion rupees in 2023.

The increase in non-mark-up income was driven by higher fee and commission income, which reached 10.75 billion rupees, up from 9.40 billion rupees in 2023. Additionally, foreign exchange income increased to 7.09 billion rupees from 5.20 billion rupees. Dividend income also saw an uptick, rising to 746.05 million rupees from 625.58 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the bank's financial performance reflects a gain on securities, netting 2.45 billion rupees, contrasting with a loss of 5.27 million rupees reported the year prior. A net loss of 3.60 million rupees was recorded on the derecognition of financial assets measured at amortized cost.

The bank has scheduled its Annual General Meeting for March 28, 2025, at 09:00 a.m. in Karachi. The share transfer books will be closed from March 21, 2025, to March 28, 2025, both days inclusive, to determine shareholder entitlements. Transfers completed by the close of business on March 20, 2025, will be eligible for the dividend.

No bonus shares, right shares, or other corporate actions have been announced. The bank will provide its annual report through PUCARS at least 21 days before the Annual General Meeting. The financial results include detailed standalone and consolidated statements, highlighting the bank's financial position and cash flows for the fiscal year 2024.