Karachi, February 28, 2024: HABIBMETRO continued its growth momentum by posting an 88%
year-on-year increase and declaring a profit-before-tax of Rs. 52 billion for the year ended Dec
31, 2023. The increase in profitability was led by core earnings as the net interest margin
improved by 76% year-on-year. Total deposits of the Bank exceeded Rs. 1 trillion, posting a
growth of 15% from last year. CASA deposits reached Rs. 744 billion with a year-on-year growth
of 32%. Gross advances marginally declined from last year by 4% to Rs. 439 billion with an
infection ratio of 4.5%. The Bank’s total assets amounted to Rs. 1.56 trillion and posted a year-
on-year growth of 11%. Net equity stood at Rs. 93.28 billion with a strong capital adequacy level
of 18.26%.
The Bank’s returns to shareholders increased significantly, with earnings per share increasing by
71% year-on-year to Rs. 23.27 (compared to Rs. 13.61 in 2022). HABIBMETRO’s Board of
Directors approved a final cash dividend of 55% (Rs. 5.5 per share) in addition to the interim
dividend already paid at 50% (Rs. 5.0 per share) totaling 105% (Rs. 10.5 per share) for the year.
The Dividend dividend payout has increased by 100% year-on-year.
“We are grateful for the blessings of the Almighty as we have surpassed PKR 1 trillion in deposits
and achieved a 71% increase in profitability this year. Our success is a testament to the trust
that our customers have placed in us and the dedicated effort of our team. Going forward in
2024, we remain committed to serving our customers with a comprehensive suite of banking
solutions and anticipate a continued trajectory of growth with a focus on technology,” said
Khurram Shahzad Khan, President & CEO, HABIBMETRO.
During the year, the client base within the individual and business segments grew significantly.
All key segments including retail banking, corporate banking, commercial banking, SIRAT Islamic
banking and digital banking continued to remain the core focus of the Bank. Additionally,
HABIBMETRO added 25 branches to its branch network across Pakistan in 2023, while
converting 53 conventional branches into Islamic Banking branches. Moreover, the Pakistan
Credit Rating Agency (PACRA) assigned premium credit ratings of AA+ and A1+ to HABIBMETRO
for the 23 rd consecutive year.
As a trusted institution in Pakistan’s financial landscape, HABIBMETRO serves millions of
customers through a nationwide network of over 500 branches, including 117 dedicated Islamic
Banking branches in more than 200 cities. HABIBMETRO is a subsidiary of Habib Bank AG Zurich,
which operates in 11 countries across four continents.
