Karachi, July 29, 2022 (PPI-OT): Commercial Banks – Bank Alfalah Limited

Earnings: Bank Alfalah Limited (BAFL) announced its financial result for the second quarter of the year 2022. As per the financial result, the bank reported earnings of PKR 3.7bn (PKR 2.1/share) that marginally increased when compared to last year of PKR 3.5bn (PKR 1.9/share), an increase of 6%y.

Dividends/Payouts: The bank announced an interim cash dividend of PKR 2.5/share this quarter compared to last year of PKR 2/share, an increase of 25%y.

Operating performance: During the period under review, the bank reported net-interest income of PKR 17.9bn (up by 53%y) and non-interest income of PKR 6.5bn (up by 61%y). As a result, total revenue of the bank stood at PKR 24.4bn (up by 55%y). Moreover, the bank recorded operating expenses of PKR 11.7bn (up by 29%y) that significantly improved bank’s cost/income ratio to 48% (last year: 58%). The bank booked a provision charge of PKR 3.7bn.