{"id":3128,"date":"2025-01-30T16:34:13","date_gmt":"2025-01-30T11:34:13","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=3128"},"modified":"2025-01-30T16:55:27","modified_gmt":"2025-01-30T11:55:27","slug":"bank-alfalah-reports-rs-39-9-billion-profit-after-tax-in-2024","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=3128","title":{"rendered":"Bank Alfalah Reports Rs. 39.9 Billion Profit After Tax in 2024"},"content":{"rendered":"

Bank Alfalah<\/a> saw its consolidated profit jump to Rs39.9 billion during 2024, which is over 10% higher than its earnings in 2023.<\/strong><\/p>\n

The increase in profit-after-tax (PAT) is attributed to much higher non-markup income amid a jump in commission income and massive gains on securities.<\/p>\n

As per the financial statements shared with the Pakistan Stock Exchange (PSX) on Thursday, the bank reported earnings per share (EPS) of Rs25.27 compared to Rs23.15 in 2023.<\/p>\n

The Board of Directors (BoD) of the bank announced the final interim cash dividend for the year ended 31st December 2024 at the rate of Rs2.5 per share i.e. 25%. This is in addition to the three interim cash dividends already paid at Rs2 per share i.e. 20%, cumulative 85%, for the year ended 31st December 2024.<\/p>\n

Bank Alfalah posts over 50% profit surge in 3QCY24<\/a><\/strong><\/p>\n

The net interest income of Bank Alfalah increased marginally to Rs126.8 billion in 2024, a gain of nearly 1% from the previous year, as compared to Rs125.9 billion registered in SPLY.<\/p>\n

On the other hand, the non-interest income of the bank registered a growth of nearly 49% on a year-on-year basis. Non-interest income amounted to Rs45.78 billion in 2024, as compared to Rs30.78 billion registered in 2023.<\/p>\n

In 2024, BAFL generated Rs17.96 billion in fee and commission income, up 9% compared to last year. Meanwhile, the bank registered exponential gains on securities to the tune of Rs14.02 billion in 2024, compared to a meagre Rs295.7 million in 2023.<\/p>\n

During the year, Bank Alfalah made a total income of Rs172.56 billion, translating into a 10% increase over the earnings recorded in 2023.<\/p>\n

Bank Alfalah\u2019s saw its non-mark-up expenses rise to Rs87.04 billion in 2024, as compared to Rs67.67 billion in SPLY, a jump of 29% YoY. Its operating expenses, which jumped from Rs65.68 billion to Rs85.12 billion, were a major reason behind the higher non-markup expenses.<\/p>\n

The bank\u2019s profit before tax clocked in at Rs85.2 billion in 2024, an increase of over 8%.<\/p>\n

The tax expense of Bank Alfalah increased 6% year-on-year to Rs45.4 billion in 2024, in comparison to Rs42.7 billion in 2023.<\/p>\n

Source: Business Recorder<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Bank Alfalah saw its consolidated profit jump to Rs39.9 billion during 2024, which is over 10% higher than its earnings in 2023. The increase in profit-after-tax (PAT) is attributed to much higher non-markup income amid a jump in commission income and massive gains on securities. As per the financial statements shared with the Pakistan Stock […]<\/p>\n","protected":false},"author":1,"featured_media":3129,"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":[],"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