Corporate Results: Bank Alfalah Reports 400% Growth in Profits

By Ali Ahmad · Friday, Mar 2, 2012 1 Comment

Abu Dhabi’s Group star Child, Bank Alfalah posts a profit after tax of Rs. 3.5 Billion for financial year 2011, up from previous year’s Rs. 968 Million, a growth of 400% percent.

If anything, this year has been good for the whole group, which includes Wateen, Warid, UBL and Alfalah Insurance, in terms of market share, awards and now Profits.

Bank’s interest revenue stood at Rs. 44 Billion while on other hand interest expense were controlled tightly resulting in a net interest income of Rs. 18 Billion, up from Rs. 13 Billion last year.

Bank Alfalah also paid a cash divided on Rs 1.75 per share. Bank has now Rs. 6 Billion in reserves.

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