KARACHI: Bank Alfalah has posted massive PKR 14.28 billion profit after tax for period of nine months (January – September) 2022, showing a growth of 33 per cent in the corresponding months last year.
The bank recorded profit after tax of PKR 10.75 billion in the first nine months of the calendar year 2021.
Board of Directors of Bank Alfalah in its meeting held on October 17, 2022 approved the financial results for the third quarter and nine months period ended September 30, 2022.
According to the consolidated financial results the bank declared earnings per share at PKR 8.03 for the nine months ended September 30, 2022 as compared with EPS of PKR 6.03.
Net Mark-up and Interest Income of the bank jumped up to PKR 53.97 billion for the first nine months of 2022 as compared with PKR 34.05 in the same period of the last year.
Total non-mark-up / interest income also surged to PKR 18.28 billion during the period under review as compared with PKR 12.14 billion when compared with the same period of the last year.
Foreign exchange income out of total non mark-up / interest income grew sharply to PKR 8.33 billion for the nine months period ended September 30, 2022 when compared with PKR 2.8 billion in the same period of the last year.
However, the bank incurred loss on securities to the tune of PKR 129 million during the nine months period ended September 30, 2022 when compared with gain of PKR 2.2 billion in the corresponding period of the last year.
Total income of the bank recorded increase to PKR 72.24 billion during the period under review as compared with PKR 46.19 billion in the same period of the last year.
Operating expenses of the bank recorded at PKR 35 billion for the period January – September 2022 when compared with PKR 26.74 billion in the same period of the last year.
Provisioning and write-offs cost the bank to the tune of PKR 8.14 billion during the nine months ended September 30, 2022 as against PKR 1.42 billion in the last year.
Taxation cost the bank to the tune of PKR 13.91 billion for the period under review as compared with PKR 6.91 billion in the same period of the last year
