HBL today declared a consolidated profit before tax of Rs 33.7 billion, and a profit after tax of Rs 16.2 billion for the quarter ended March 31, 2026. EPS for Q1’26 was Rs 11.0. Along with the results, the Bank declared an interim dividend of Rs 6 per share for the quarter.

HBL’s balance sheet increased to Rs 8.1 trillion, with domestic deposits closing at Rs 4.6 trillion and total deposits at Rs 5.4 trillion. Current account remained a priority for the Bank, as a result the domestic CA mix improved to 38.6% in March 2026. HBL’s total advances stood north of Rs 2.0 trillion. The Bank’s flagship Consumer portfolio continued its stellar growth trajectory, reaching Rs 180 billion, while the Group’s agriculture financing increased to over Rs 100 billion.

Despite a reduction in the policy rate, HBL’s interest margins were effectively supported by volumetric expansion of 15% in the average domestic balance sheet, and a reduction in deposit cost led by consistent growth in the average current accounts. HBL’s fee franchise contributed strongly to the revenue, with the flagship Cards business driving nearly 50% of the total fees. Cash management and Remittances also registered remarkable growths in fee. As a result, HBL’s total revenue for the quarter increased to Rs 92 billion.

With effective cost management and oversight, the Bank’s administrative expenses growth was contained to a low of 6%. With sustained profitability, HBL’s Tier I CAR of 13.8% and Total CAR of 16.7% remained well above the requirements.

Commenting on the Bank’s performance, Muhammad Nassir Salim, President & CEO – HBL, said, “In Q1’26, HBL’s strong business performance continued with the momentum 2025 ended on. The Bank unlocked revenue synergies underpinned by a lean cost base. This contributed to improving our cost-to-income trajectory while supporting sustainable growth. The in-progress Brand Refresh provides our clients a context on how they experience HBL as a brand of choice, making every interaction relevant and engaging. The start of HBLPSL 11, a continuation of our decade long partnership with Pakistan’s leading sports platform, reinforces HBL’s commitment to Pakistan’s youth and the communities we serve.”

Delivering value for stakeholders

HBL continued to demonstrate its leadership in financial markets and advisory through a series of landmark transactions. The Bank entered into an Interest Rate Swap Agreement with Engro subsidiaries for a notional principal of Rs 20 billion, supporting client risk management and market development. HBL also acted as exclusive buy-side financial advisor and arranged Shariah-compliant financing of Rs 75 billion for Maple Leaf Cement Factory Limited’s acquisition of Pioneer Cement Limited. The Bank has also been appointed as Inter-Creditor Agent and Mandated Lead Arranger for a project finance facility of up to Rs 76 billion for Frontier Works Organization, supporting the development of critical energy infrastructure.

HBL’s digital fixed income platform HBL Symphony® continued to gain strong traction with volumes more than doubled YoY. This growth highlights the increasing shift of the Bank’s clients toward digital solutions and reinforces HBL Symphony’s role as a key driver of innovation in fixed income markets.

The Bank’s strategic investment in technology and client experience is bearing fruit; ENZO, HBL’s Core Banking System transformation is on track with a total of 92 branches successfully migrated onto this system. This modern platform will enhance client experience and strengthen the Bank’s ability to adapt quickly in an evolving digital landscape.

HBL continued to strengthen its position as Pakistan’s premier financial services brand. Q1 2026 saw the rollout of HBL’s Brand Refresh and its phased implementation. The refresh preserves the “HBL” wordmark, and the institutional equity built over more than eight decades, while introducing “Momentum”, a modern design device which represents four key pillars i.e. forging ahead, progressing together, accelerating towards the future, and a principle of shared prosperity for the Bank and its customers. The refreshed identity will support stronger integration across businesses, strengthen customer experience across touchpoints, and reinforce HBL’s position as Pakistan’s premier Bank.

HBL’s continued partnership with PSL, now renewed for HBLPSL 11 (2026) and 12 (2027), reinforces the Bank’s core philosophy of ‘enabling dreams’. HBL remains committed to amplifying the success of this tournament, further elevating the stature of HBLPSL on the global stage.

Through the HBL Foundation, the Bank continued to support healthcare, education, and community development initiatives across Pakistan. In Q1 2026, the Foundation allocated Rs 177 million across key initiatives, including medical support, scholarships, and community outreach, reaching underserved communities nationwide.

In recognition of the Bank’s leadership and performance, HBL has been awarded with the ‘Best Investment Bank Award for Pakistan 2026’ by Global Finance.