LAHORE - Allied Bank announced a profit after tax of Rs3b (EPS Rs3.22) in 1Q2012 – an increase of 21 per cent. Also, the company announced an interim cash dividend of Rs2 per share.

Habib Bank Limited (HBL) announced its 1Q2012 result, posting unconsolidated earnings of Rs5.6b (diluted EPS Rs4.65) as against earnings of Rs4.7b (diluted EPS Rs3.88) in 1Q2011 – an increase of 20 per cent. As expected no payouts were announced with the result.
Highlights of the result were: net interest income (NII) rose by 7 per cent to Rs13.8bn and provisions and write offs, as expected, fell by 55 per cent to Rs1.1bn. However, a slight increase in operating expenditures by 3 per cent and flat non funded income slightly dragged the growth in the bottom line.