trending Market Intelligence /marketintelligence/en/news-insights/trending/deypp48-nquhpfh0k4uwkw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Habib Bank FY'17 profit plunges YOY on US settlement costs

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good


Habib Bank FY'17 profit plunges YOY on US settlement costs

Habib Bank Ltd.'s net profit for 2017 plunged year over year, dragged down by payments made to New York regulators to settle a case involving the bank's noncompliance with local anti-money laundering and counterterrorist financing laws.

The Pakistan-based bank said its consolidated net profit attributable to equity holders for the year ended Dec. 31, 2017, plunged to 7.83 billion rupees, or 5.34 rupees per share, from 34.07 billion rupees, or 23.23 rupees per share, for the prior year.

The year-over-year decline was driven by settlement costs. The bank said it paid 23.72 billion rupees to the New York State Department of Financial Services to settle the case relating to its noncompliance with anti-money laundering and counterterrorist financing laws.

Meanwhile, net interest income rose to 83.07 billion rupees from 81.95 billion rupees. Fee, commission and brokerage income increased to 19.52 billion rupees from 19.03 billion rupees.

For the year ended Dec. 31, 2017, the bank reported reversal against advances of 49.6 million rupees, compared to provisions of 491.2 million rupees in the prior-year period. Net interest income after provisions rose to 83.18 billion rupees from 81.23 billion rupees.

The bank's administrative expenses jumped to 61.97 billion rupees from 54.79 billion rupees. Net other provisions surged to 496.7 million rupees from 174.2 million rupees.

The bank declared a final cash dividend of 1 rupee per share, down from 3.5 rupees per share for 2016. Including an interim dividend of 7 rupees per share, the bank's total dividend for the year totaled 8 rupees per share, down from 14 rupees per share for 2016.

As of March 16, US$1 was equivalent to 110.57 Pakistani rupees.