Bank Alfalah earns Rs7.02 billion profit in first-half

KARACHI: Bank Alfalah Limited on Wednesday announced profit –after-tax of Rs7.02 billion for the first-half (January–June) 2021, a bourse filing said.

The net profit of the bank posted a 21.45 per cent increase, compared with the net profit of Rs5.78 billion in the corresponding period of the last year.

The net markup income of the banks fell to Rs21.98 billion for the first-half ended June 30, 2021, compared with Rs23.35 billion in the corresponding half of the last year.

However, non-mark up interest income of the bank grew to Rs8.35 billion during the period under review, compared with Rs7.26 billion in the corresponding period of the last year.

The operating expenses of the bank increased to Rs17.49 billion, compared with Rs15.61 billion.

The provisioning and write-offs of Bank Alfalah Limited was Rs1.15 billion for the half-year ended June 30, 2021, compared with Rs4.78 billion during the same period of the last year.

The bank declared Rs3.94 as earnings per share (EPS) for the first-half, compared with the EPS of Rs3.25 in the same half of the last year.

The board of directors of the bank in its meeting held on August 25, 2021 approved an interim cash dividend of Rs2/share or 20 per cent. However, the board has not approved any bonus shares or right shares for the period.

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