KARACHI: Bank Alfalah has announced its financial results for 9MCY12 demonstrating stable growth in earnings. The bank has posted a net profit of Rs 3.40 billion, 13% higher than the net profit of Rs3.00 billion posted in the same period last year. Close to 11% growth in revenue was reported, which reached Rs18.93 billion in 9MCY12, against Rs17.08 billion reported for the same period last year. Additionally, the bank’s non-performing loans (NPL) to gross loans ratio has been reasonably well maintained and stands at 8.81%, reflecting a better position vis-a-vis that of peer banks as well as the industry infection ratio. Whilst maintaining a low NPL ratio compared to the industry average, adequate provisioning has been maintained against the classified portfolio.
Published in The Express Tribune, October 26th, 2012.
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