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Habib Bank’s Profit Gains 25% on Lower Provisions

Habib Bank Ltd., Pakistan’s second-biggest by assets, said second-quarter profit rose 25 percent as it set aside less funds for delinquencies on loans.

Net income on a consolidated basis climbed to 4.05 billion rupees ($47.3 million), or 4.03 rupees a share, from 3.25 billion rupees, or 3.19 rupees, a year earlier, the Karachi- based bank said in a statement to the stock exchange today. Revenue gained to 23.5 billion rupees 21.7 billion rupees a year ago.