Karachi: Habib Metropolitan Bank Limited has announced its financial results for the quarter and nine months ending on September 30, 2024, revealing a consistent profit trajectory with a declared interim cash dividend. The bank’s Board of Directors, in a meeting held on October 24, 2024, approved the un-audited accounts and declared a cash dividend of Rs. 2.50 per share, representing a 25% return for the quarter and nine-month period. This dividend is supplemental to an earlier payment of Rs. 5.00 per share, equating to a 50% return.

According to information available from the Pakistan Stock Exchange (PSX), the bank reported a net profit of 7,412.97 million rupees for the quarter, slightly higher than the 7,401.91 million rupees reported in the same period last year. For the nine-month period, the net profit stood at 18,911.46 million rupees, as compared to 19,183.08 million rupees in the previous year.

The bank's total income for the quarter was 24,793.91 million rupees, and for the nine months, it was 64,666.91 million rupees. The basic and diluted earnings per share remained steady at Rs. 7.07 for the quarter and Rs. 18.05 for the nine months.

Non-mark-up income increased significantly, with foreign exchange income rising to 1,663.60 million rupees for the quarter, contributing to a total non-mark-up income of 5,385.29 million rupees. Operating expenses for the quarter were recorded at 8,613.82 million rupees.

The share transfer books will be closed from November 6, 2024, to November 8, 2024, inclusive. Transfers submitted by the close of business on November 5, 2024, will be eligible for the dividend. The bank also announced that no bonus issues, right shares, or other price-sensitive actions are currently planned.

The consolidated financial results showed a profit attributable to equity shareholders of 7,482.61 million rupees for the quarter and 19,105.69 million rupees for the nine-month period, with basic and diluted earnings per share at Rs. 7.14 and Rs. 18.23, respectively.