The Board of Directors of Bank AL Habib Limited (the Bank) announced the financial results of the Bank for the half year ended 30 June, 2018. As per the results, the Bank declared pre-tax profit of Rs. 7.08 billion for the half year ended 30 June, 2018 as compared to Rs. 7.52 billion for the corresponding period. Profit after tax for the half year ended 30 June, 2018 was recorded at Rs. 4.20 billion against Rs. 4.41 billion for the corresponding period last year. Bank’s profit (excluding capital gains) grew by 35.36 percent compared to corresponding period last year. Earnings per Share (EPS) of the Bank were recorded at Rs. 3.78 per share. The Bank’s total assets increased by 9 percent reaching Rs. 1 trillion as on June 30, 2018 mainly due to the expansion of Bank’s loan book by Rs. 105.34 billion, standing at Rs. 445.17 billion as on June 30, 2018, showing growth of 31 percent in net advances, compared to the last year end.Advances to Deposits Ratio (ADR) of the Bank stands at59.45 percent. The Bank has improved its market share in terms of loan book. Prudent financing strategies and sound risk management policies of the Bank resulted in decrease innon-performing to gross advances ratio to 1.13 percent as at June 30, 2018 as against 1.52 percent ason December 31, 2017. Coverage ratio of Non-Performing Loans is also increased to 145.54 percent as at June 30, 2018 from 144.32 percent in December 31, 2017. The Bank maintained long term and short term rating at AA+ (double A plus) and A1+ (A one plus). The ratings reflect the bank’s sustained performance, high quality assets, satisfactory financial profile and healthy liquidity. The deposits of the Bank increased by 8.12 percent as compared to December 31,2017 reaching Rs. 748.80 billion as on June 30, 2018. The Bank continued with its strategy for outreach expansion – adding significant branches every year. The Bank’s branch network has now reached 685 branches/ sub branches having coverage in 259 cities of Pakistan and 3 branches and 4 representative offices outside Pakistan. In line with the Bank’s vision to provide convenience to customers, the Bank is operating with the network of 787ATMs across Pakistan. Published in Daily Times, August 17th 2018.