KARACHI, Sept 27: First Habib Bank Modaraba (FHBM) posted profit before charging management fee at Rs90 million for the year ended June 30, 2002, reflecting a significant jump from Rs60 million in 2001.

The board of directors of Habib Bank Financial Services (Pvt) Limited — the management company of FHBM — in its meeting on September 25, declared final profit distribution of Rs1.60 i.e 16 per cent per Modaraba Certificate for the year ended June 30, 2002, a press release issued by the Modaraba said.