October 22, 2020

HBL’s Deposits Cross Rs2 Trillion

HBL has recently reached the benchmark of Rs2 trillion as deposits and becomes the only bank in Pakistan with such a huge portfolio. The bank reached 1 trillion benchmarks in 2012 and as of June 2019, the deposits in HBL stand at Rs2.3trillion.

The National Bank was the first one to reach the Rs2 trillion benchmark, which it reached in 2018, but it could not maintain its deposits, which slipped to Rs1.7 trillion in 2019. This drop-in deposits occurred mainly due to the transfer of government funds to the treasury single account.

The other competitions of HBL such as UBL or MCB currently stand at Rs1.34trillion and Rs1.06 trillion respectively, the HBL being on top with the highest number accounts.

Overall, HBL has Rs2.2 trillion in domestic accounts and Rs92.7billion in foreign accounts. However, despite these huge deposits, HBL’s profits fell by almost 50% in the second half of 2019.

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