Allied Bank declares Rs12.88 billion profit after tax for year 2018

KARACHI: Allied Bank Limited on Wednesday declared Rs12.88 billion profit after tax for the year 2018, which was 1.15 percent higher than the profit of Rs12.733 billion in the preceding year.

According to unconsolidated profit and loss account of the bank, total income rose to Rs43.4 billion for the year ended December 31, 2018, as compared with Rs40.29 billion in the preceding year.

The net mark-up / interest income for the year under review was at Rs32.11 billion as against Rs31.578 billion in the preceding year.

However, total non-markup / interest income increased to Rs11.289 billion from preceding year’s of Rs8.712 billion.

The expenses of the bank including operating expenses, workers welfare fund also increased to Rs23.3 billion as against Rs21.93 billion.

The gross profit of the bank was at Rs21 billion as against Rs20.87 billion.

The bank announced that unappropriated profit brought forward was at Rs49.212 billion as compared with Rs46.49 billion.

The bank announced basic earning per share at Rs11.25 as against Rs11.12 and diluted earnings per share at Rs11.25 as against Rs11.12.

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