KARACHI: Habib Bank Ltd (HBL) on Tuesday announced full year results for 2014 with a consolidated profit after tax of Rs31.8 billion, a growth of 38 per cent over 2013.

Earnings per share rose from Rs15.59 to Rs21.63 over the same period of last year.

Profit before tax rose by 34pc to Rs48.5bn. This high profit was driven by 25pc increase in total revenue.

Net interest income increased by 25pc to Rs69.1bn, driven by 9pc growth in the average balance sheet and 25pc growth in the domestic current accounts which grew by nearly Rs80bn. Total deposits grew to a massive Rs1.5 trillion while the overall balance sheet set a new record of Rs1.9tr.

On a quarter-to-quarter basis, HBL posted after-tax earnings of Rs10bn against Rs7bn in the third quarter of 2014 compared to Rs6bn in the corresponding period last year. The bank announced a cash dividend of Rs5.5 per share taking the full-year pay out to Rs12 per share.

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