Islamabad, Oct 17: Bank Alfalah’s 9-Month Profit Rises 23.5%.
The Board of Directors of Bank Alfalah Limited, in its meeting held on October 17, 2024, approved the financial results for the nine-month period ending September 30, 2024. Bank Alfalah reported a profit after tax of Rs. 33.643 billion, reflecting a 23.5% improvement compared to the same period last year (SPLY).
This translates into an Earning Per Share (EPS) of Rs. 21.33. The Bank’s profit before tax stood at Rs. 66.482 billion, driven by a 76.4% growth in non-funded income, supported by higher net interest income and lower provisions.
The Board also declared an interim cash dividend of Rs. 2.00 per share (20%) for the quarter ending September 30, 2024, bringing the total interim cash dividend for the year to Rs. 6.00 per share (60%).
As of September 30, 2024, Bank Alfalah’s deposits reached Rs. 2.136 trillion, marking a 17.3% year-on-year (YoY) increase.
The Bank’s Current Account (CA) and CASA (Current Account and Savings Account) ratios were 40.1% and 72.4%, respectively. Gross advances were reported at Rs. 903.913 billion, with an improved infection ratio of 4.6%, down from 5.4% at the end of September 2023.
Bank Alfalah continues to maintain a strong capital base, with a Capital Adequacy Ratio (CAR) of 19.04% as of September 30, 2024, well above the regulatory minimum requirements.
