Bank alfalah: Stable growth in earnings
The bank has posted a net profit of Rs 3.40 billion.
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.
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.