![photo file photo file](https://i.tribune.com.pk/media/images/977826-BankjAlfalahx-1445557754/977826-BankjAlfalahx-1445557754.jpg)
Bank Alfalah exceeded market expectations on Thursday by posting a consolidated profit of Rs6 billion in January-September, up 45.1% from Rs4.2 billion in the same three quarters of 2014.
The increase in profitability is mainly on account of a massive rise in net interest income, which shot up by 36% over the nine-month period. Earnings growth in the third quarter of 2015 was 58% largely on the back of a 23% increase in net interest income.
“We attribute this increase in net interest income to strong growth in earning assets and major investments in long-term, high-yielding Pakistan Investment Bonds,” Topline Securities said in its commentary on the financial results. It expects Bank Alfalah to enjoy higher credit growth compared to the industry during the nine-month period.
Published in The Express Tribune, October 23rd, 2015.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ