Bank Alfalah posts pre-tax profit of Rs4.29 billion

KARACHI: The board of directors of Bank Alfalah Limited, in its meeting held on April 24, approved the bank’s unaudited financial statements for the quarter ended March 31, 2017. The bank posted profit before tax of Rs4.29 billion for the quarter, higher than the corresponding period by 13.1%. Earnings per share (EPS) were reported at Rs1.75 against Rs1.55 for the previous corresponding period. Despite the challenges that persisted due to a consistently low interest rate regime and comparatively lower yields on PIBs, the bank managed to grow its net interest income by 2.3% against the corresponding period. This was mainly attributable to the volumetric growth as the bank managed to grow its loan book by 16% on a year-on-year basis.

Published in The Express Tribune, April 28^th, 2017.

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