The Board of Directors of Bank AL Habib Limited announced the financial results for the Half Year ended June 30, 2019. The Bank reported the profit before tax of Rs. 8.55 billion for the half year ended June 30, 2019 as compared to Rs. 7.08 billion for the corresponding period, showing a growth of 20.76 percent.Profit before provisions of the Bank grew by 53.47 percent. The Bank improved its net income margins by 30.90 percent whereas Bank’s non-markup income grew by 32.91 percent during the half year ended June 30, 2019 as compared to corresponding period last year. Fee and Commission income which is earned mainly through trade business, general banking services, alternate delivery channels etc., showed exceptional increase of 29.19 percent during the half year ended June 30, 2019 compared to corresponding period ended June 30, 2018. The bank’s foreign exchange income increased by 67.19 percent. Prudent financing strategies and sound risk management policies of the Bank kept the non performing advances to gross advances ratio at 1.27 percent. The Bank reduced the cost-to-income ratio to 54.13 percent from 60.84 percent compared to corresponding period last year.Deposits of the Bank increased by Rs. 78.79 billion bringing the total deposits to Rs. 875.69 billion as on June 30, 2019. The growth was particularly strong in domestic deposits where the bank managed to grow by 9.49 percent compared to the industry growth of 8.27 percent. During the period the Bank’s advances crossed the Rs. 500 billion mark and managed to increase its net advances by 5.23 percent bringing the advances (net) to Rs. 503.25 billion as on June 30, 2019.The Bank continued with its strategy for outreach expansion adding branches every year. The Bank’s branch network with in Pakistan has now reached 734 branches / sub branches having coverage in 279 cities in Pakistan plus 3 branches (one each in Bahrain, Malaysia, Seychelles) and 4 representative offices (one each in Dubai, Istanbul, Beijing, Nairobi) outside Pakistan. The Bank opened its first permanent booth during the half year. In line with the Bank’s vision to provide convenience to customers, the Bank is operating with the network of over860ATMs across Pakistan. Pakistan Credit rating Agency (PACRA) has maintained Bank’s long term and short term entity ratings at AA+( Double A plus) and A1+ (A one plus), respectively. The ratings of our unsecured, subordinated Term Finance Certificates (TFCs) are AA (Double A) for TFC-2016 and TFC-2018, and AA- (Double A minus) for TFC- 2017 (perpetual). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.