Bank Alfalah posts Rs7.59b pre-tax profit

The bank says it remains adequately capitalised and committed to providing banking services to its customers

KARACHI: Bank Alfalah announced its financial results for the first half of 2016, exceeding market expectations, with profit before taxation at Rs7.592 billion, up 15.4% against the corresponding period of last year. The bank’s profit after tax was recorded at Rs4.353 billion, a growth of 17.5%, after accounting for the impact of super tax during the second quarter. Net mark-up income after provisions was Rs14.245 billion, improving by 12.2% over the corresponding period of last year, whereas overall net revenue after provisions amounted to Rs19.25 billion, registering an increase of 10%. Earnings per share improved to Rs2.73 at the end of the first half of 2016 compared to Rs2.33 reported in June 2015. The bank says its remains adequately capitalised and committed to providing unrivalled banking services to its customers.

Published in The Express Tribune, August 26^th, 2016.

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