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Bank Alfalah posts Rs12.6bn pre-tax profit

Bank Alfalah posts Rs12.6bn pre-tax profit

KARACHI: Bank Alfalah’s pre-tax profit rose 48 per cent to Rs12.604 billion in 2015 from Rs8.514bn in the preceding year. Earnings per share increased 16pc to Rs4.73 from Rs4.09.

During the 24th annual general meeting (AGM) on Monday, the shareholders were informed that the bank’s deposits stood at Rs640.189bn as of end-2015, a growth of 6pc over 2014.

Gross advances increased from Rs304.848bn to Rs343.49bn, reflecting a year-on-year growth of 13pc.

“We are committed to providing better and more innovative banking solutions to our customers and to support economic growth in Pakistan,” said Bank Alfalah’s President and CEO Atif Bajwa while speaking on the occasion.

The bank registered a balance sheet growth of 21pc in terms of total assets, with net investments increasing by 22pc and net advances by 13pc during 2015.

SONERI BANK: The bank’s announced an after-tax profit of Rs2.21bn for 2015.

During its 24th AGM, the shareholders approved a cash dividend of Rs1.25 per share, which was recommended by the board of directors in their meeting on Feb 11, 2016.

Total deposits rose 13.5pc to Rs185.22bn and net advances by 4pc to Rs 112bn. Net assets stood at Rs18.19bn, translating into a growth of 6.8pc from the 2014 level.

The bank issued listed term finance certificates (TFC 2) worth Rs3bn during 2015. It was oversubscribed by Rs810 million (1.3 times).

BANK AL HABIB: The bank posted an after-tax profit of Rs7.405bn. Its deposits stood at Rs516.213bn as of Dec 31, 2015. The bank’s shareholders approved payment of 35pc final cash dividend for the year.

Published in Dawn, March 29th, 2016

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