{"id":1364,"date":"2024-10-17T09:35:10","date_gmt":"2024-10-17T09:35:10","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1364"},"modified":"2025-01-14T15:08:33","modified_gmt":"2025-01-14T15:08:33","slug":"bank-alfalah-reports-rs-33-64-billion-profit","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1364","title":{"rendered":"Bank Alfalah Reports Rs 33.64 Billion Profit After Tax for First 9 Months-2024"},"content":{"rendered":"\r\n

KARACHI, October 17, 2024<\/strong> \u2013 Bank Alfalah Limited<\/a>\u2019s Board of Directors, in a meeting held today, approved the financial results for the nine-month period ending September 30, 2024, reflecting a strong performance across key metrics.<\/p>\r\n\r\n\r\n\r\n

The bank posted a profit after tax (PAT) of PKR 33.643 billion, marking a significant improvement of 23.5% compared to the same period last year. This translates into earnings per share (EPS) of PKR 21.33. Profit before tax (PBT) stood at PKR 66.482 billion, with profitability bolstered by a robust 76.4% growth in non-funded income, supported by higher net interest income and lower provisions.<\/p>\r\n\r\n\r\n\r\n

The Board of Directors also declared an interim cash dividend of PKR 2.00 per share (20%) for the third quarter of 2024, bringing the total interim cash dividend for the year to PKR 6.00 per share (60%).<\/p>\r\n\r\n\r\n\r\n

As of September 30, 2024, Bank Alfalah\u2019s deposits grew to PKR 2.136 trillion, reflecting a 17.3% year-on-year increase. The current account (CA) and current and savings account (CASA) ratios stood at 40.1% and 72.4% respectively, underlining the bank\u2019s strong liquidity position. Gross advances were reported at PKR 903.913 billion, with the infection ratio improving to 4.6%, down from 5.4% at the same time last year.<\/p>\r\n\r\n\r\n\r\n

Bank Alfalah has maintained a solid capital base, reporting a Capital Adequacy Ratio (CAR) of 19.04% as of September 30, 2024, well above the minimum regulatory requirement.<\/p>\r\n\r\n\r\n\r\n

Strategic Focus and Awards<\/strong>
Through its strategic vision, customer-centric approach, and commitment to innovation, Bank Alfalah continues to expedite its digital transformation journey. The bank also emphasized its holistic focus on human capital, positioning itself for future growth and operational excellence.<\/p>\r\n\r\n\r\n\r\n

During the quarter, Bank Alfalah earned several prestigious accolades, including recognition at the CFA Society\u2019s Annual Excellence Awards, the Global Islamic Finance Awards, and the International Finance Corporation & Pakistan Business Council\u2019s Employer of Choice Awards. These honors underscore the bank\u2019s dedication to upholding industry-leading standards and best practices.<\/p>\r\n\r\n\r\n\r\n

Looking Ahead<\/strong>
Bank Alfalah<\/a> remains focused on enhancing customer experiences and leveraging its core strengths. As it navigates evolving market dynamics, the bank is committed to adaptability, resilience, and sustained value creation, ensuring continued growth and excellence while delivering value to shareholders.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

KARACHI, October 17, 2024 – Bank Alfalah Limited’s Board of Directors, in a meeting held today, approved the financial results for the nine-month period ending September 30, 2024, reflecting a strong performance across key metrics. The bank posted a profit after tax (PAT) of PKR 33.643 billion, marking a significant improvement of 23.5% compared to […]<\/p>\n","protected":false},"author":1,"featured_media":1365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[8],"tags":[171,402,836,14,151],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t