{"id":3160,"date":"2025-02-04T20:22:31","date_gmt":"2025-02-04T15:22:31","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=3160"},"modified":"2025-02-04T20:22:31","modified_gmt":"2025-02-04T15:22:31","slug":"allied-bank-reports-rs-44-4-billion-profit-for-2024","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=3160","title":{"rendered":"Allied Bank Reports Rs. 44.4 Billion Profit for 2024"},"content":{"rendered":"

Karachi, Pakistan \u2013 Allied Bank Limited (PSX: ABL)<\/a> has reported a profit-after-tax (PAT) of Rs. 44.4 billion for the calendar year 2024, marking a 7 percent year-on-year (YoY) increase.<\/p>\n

The bank has declared a final dividend of Rs. 4 per share (40 percent), in addition to the interim dividend(s) already paid at Rs. 12 per share (120 percent), bringing the total payout to Rs. 16 per share.<\/p>\n

Financial Performance Overview<\/strong><\/h2>\n

ABL\u2019s Net Interest Income (NII) for CY24 stood at Rs. 115.4 billion, reflecting a 2 percent YoY increase from Rs. 112.9 billion recorded in the previous year. The bank\u2019s interest earned rose by 5.5 percent, whereas interest expense increased by 7 percent.<\/p>\n

Fee and commission income witnessed a significant rise of 37 percent YoY, reaching Rs. 16.17 billion in CY24. However, foreign exchange (FX) and dividend income saw declines of 27 percent and 14.8 percent YoY, respectively. On the other hand, gain on securities surged by an impressive 308 percent YoY, totaling Rs. 3.44 billion.<\/p>\n

Provisioning and Expenses<\/strong><\/h2>\n

The bank\u2019s net provisions and write-offs were recorded<\/a> at Rs. 2.71 billion in CY24, reflecting a 9 percent YoY decline. ABL\u2019s non-markup income stood at Rs. 30.3 billion, up from Rs. 25.6 billion in the previous year.<\/p>\n

Non-interest expenses increased substantially to Rs. 59.5 billion during the year under review. The bank\u2019s operating<\/a> expenses (OPEX) surged by 21 percent YoY to Rs. 57.7 billion in CY24.<\/p>\n

Taxation and Earnings Per Share<\/strong><\/h2>\n

ABL maintained an effective tax<\/a> rate of 51 percent in CY24, slightly lower than the 52.4 percent recorded in the prior year. The bank posted an earnings per share (EPS) of Rs. 38.77 for 2024, compared to an EPS of Rs. 36.07 in the previous year.<\/p>\n

With a consistent rise in profits and robust financial performance, ABL continues to strengthen its market position, delivering value to its shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi, Pakistan – Allied Bank Limited (PSX: ABL) has reported a profit-after-tax (PAT) of Rs. 44.4 billion for the calendar year 2024, marking a 7 percent year-on-year (YoY) increase. The bank has declared a final dividend of Rs. 4 per share (40 percent), in addition to the interim dividend(s) already paid at Rs. 12 per […]<\/p>\n","protected":false},"author":1,"featured_media":3161,"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