HBL today declared a consolidated profit after tax of Rs 34.2 billion for the full year 2016, with earnings per share of Rs 23.23.
Along with the results, the Bank declared a final dividend of Rs 3.50 per share (35%), bringing the total dividend for the year to Rs 14 per share.
With the improved economic climate, lending growth has accelerated with loans growing by over 17%, driven by increases in Corporate lending, but with strong support from the SME and Consumer segments.
The Bank was thus able to grow net interest income by 5% to Rs 82.0 billion for 2016.
HBL’s target market is not just limited to customers in Pakistan and China but it aims to market CPEC opportunities across borders using its international reach and customer base.
As a bank that is an integral part of Pakistan’s fabric, HBL aspires to contribute to economic development in Pakistan, and looks forward to enriching the lives of its customers with its commitment to banking excellence.
He started his career with Citibank, first in Pakistan and later in New York.
He then joined ABN AMRO Bank in a senior leadership role, rising to the position of Country Manager in Pakistan. Kotwal stated, “Today HBL stands proud as it becomes the first bank with branches in Gwadar as well as China.
HBL has submitted the requisite application to the State Bank of Pakistan in this regard. Aurangzeb is a respected and seasoned banker with more than 30 years of diverse experience with leading global banks in Pakistan and overseas.
He is currently the CEO Global Corporate Bank, Asia Pacific at JP Morgan.
He has since held senior level regional and global positions in ABN AMRO Amsterdam, RBS Singapore and, since 2011, with JP Morgan. We are honored to be playing a leading role in supporting the China Pakistan Economic Corridor, opening new avenues of business, trade and investment between the two countries.”Last year, HBL had become the first Pakistani bank to open a branch in China.
The branch was inaugurated by the Ambassador of China to Pakistan, Mr. Zhang Baozhong, Chairman China Overseas Port Holding Company Ltd. That branch was opened in Urumqi - a city with enormous potential.
HBL’s balance sheet has grown by 13% over December 2015 to reach Rs 2.5 trillion.