KARACHI: Allied Bank on Wednesday announced fall in profit by 23 per cent for half year ended June 30, 2022 mainly surge in tax payment by 121 per cent.
According to financial results submitted to Pakistan Stock Exchange (PSX), Allied Bank declared profit after tax of Rs6.83 billion for the half year ended June 30, 2022 as compared with Rs8.88 billion in the same half of the last fiscal year.
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The bank paid an amount of Rs13.28 billion as taxes for the period January – June 2022 as compared with Rs6.01 billion in the same period of the last year.
Earnings per share (EPS) of the bank fell to Rs5.96 as compared with EPS of Rs7.75 in the same half year of the last year.
The board of directors of the bank in their meeting on August 17, 2022 approved an interim cash dividend for the quarter ended June 30, 2022 at Rs2 per share i.e. 20 per cent. This is in addition to interim Dividend already paid at Rs2 per share i.e. 20 per cent.
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The bank declared total income of Rs38.25 billion for the half year ended June 30, 2022 as compared with Rs31 billion in the same half of the last year.
Net mark-up / interest income increased to Rs27.51 billion for the period January – June 2022 as compared with Rs23 billion in the same half of the last year.
On the other hand, the total non-mark up / interest income rose to Rs10.74 billion during the half year under review as compared with Rs7.93 billion in the same half of the last year.
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The bank earned Rs4.29 billion as foreign exchange income during the half year ended June 30, 2022 as compared with Rs662 million in the same half of the last year.
Operating expenses of the bank increased to Rs18.27 billion during January – June 2022 as compared with Rs16.16 billion in the same period of the last year.
The bank declared sharp increase in profit before tax to Rs19.37 billion for the half year ended June 30, 2022 as compared with Rs14.4 billion in the same period of the last year.
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