• About Us
  • Contact Us
  • Privacy Policy
Friday, July 18, 2025
Upfront
  • Pakistan
  • Budget 2025-26
  • Business
    • Forex
  • Sci&Tech
  • Automobiles
  • Sports
  • Entertainment
  • Life&Style
  • World
  • Education
  • Pakistan
  • Budget 2025-26
  • Business
    • Forex
  • Sci&Tech
  • Automobiles
  • Sports
  • Entertainment
  • Life&Style
  • World
  • Education
No Result
View All Result
Upfront

Bank Alfalah records profit after tax of Rs2.821 billion

by Ahmad Nawaz Kamyana
April 28, 2020
in Business, Latest

KARACHI – The Board of Directors of Bank Alfalah Limited in its meeting held on Monday and approved the Bank’s unaudited condensed interim financial statements for the quarter ended Mar 31, 2020.

The Bank’s pre-tax profit and post-tax profit stood at Rs 4.757 billion and Rs 2.821 billion respectively, translating into an EPS of Rs. 1.59 per share (Mar 2019: Rs. 1.76). The profit for the first quarter of 2020 depicted a decline of 9.6% versus the same period last year. This is mainly due to prudent approach adopted towards provisioning against both the credit portfolio and investment impairment. On the credit front, certain loans have been subjectively downgraded, while full impairment charge has been taken on equity book instead of availing the relaxation allowed by SBP of deferring charge over the year.

On the revenue front, net markup income and non-markup income showed combined growth of 7.7% with a strong contribution from FX income of Rs. 1.056 billion. Last year net Markup income included recovery of suspended markup on a non-performing loan. Non Markup income was impacted by bearish stock market sentiments amid coronavirus fear.

Non-markup expenses were higher by 19.4% compared to the same period last year largely driven by higher investment in IT and digital channels, regulatory compliances, the full period impact of 49 new branches opened last year along with the overall impact of inflation and rupee devaluation.

Total deposits reported at Rs. 755.135 billion, lower than December 2019 level, which is a customary decline in the first quarter. The Bank’s gross advances were reported at Rs. 520.436 billion. At the quarter-end, our gross advances to deposits ratio stands at 68.9% while CASA ratio at 80.6% and remains amongst the highest in the industry. The Bank non-performing advances stood at Rs. 23.502 billion and the NPL ratio at 4.5%, is one of the lowest infection ratios in the industry.

BankAlfalah’s Investment book has accumulated hefty unrealized revaluation gains on government securities which can increase the bank’s profitability in the following quarters.

The shareholders’ equity of the Bank improved marginally despite payment of dividend approved by the shareholders in the AGM held in March 2020. At the close of first quarter, the Bank remains adequately capitalized with CAR at 17.25%.

Related Posts

Today’s currency exchange rates – 17 July, 2025

by Web Desk
July 17, 2025
0

KARACHI - Foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, Euro, and other currencies...

Today’s gold rates in Pakistan – 17 July, 2025

by Web Desk
July 17, 2025
0

KARACHI – On July 17, 2025, gold prices in Pakistan decreased, following the downward trend in international markets. According to...

Today’s currency exchange rates – 15 July, 2025

by Haris Sarfraz Ali
July 15, 2025
0

KARACHI - Foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, Euro, and other currencies...

Today’s gold rates in Pakistan – 15 July, 2025

by Web Desk
July 15, 2025
0

KARACHI – On July 15, 2025, gold prices in Pakistan increased, following the upward trend in international markets. According to...

Today’s currency exchange rates – 14 July, 2025

by Web Desk
July 14, 2025
0

KARACHI - Foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, Euro, and other currencies...

Today’s gold rates in Pakistan – 14 July, 2025

by Web Desk
July 14, 2025
0

Note: No change has been reported as of yet. We will update the rates as soon as the change is...

Next Post

Infinix Hot 9 is officially available for purchase in Pakistan

Please login to join discussion

Recommended

POCO launches POCO M3 Pro 5G in Pakistan

4 years ago
Haider Ali CSS Preparation

Engineer turned CSP in 3 months without academy

5 years ago

Popular News

  • HONOR teases a game-changing smartphone built for smart Life

    0 shares
    Share 0 Tweet 0
  • TECNO PHANTOM Ultimate G Fold Concept: Introducing the World’s Thinnest Tri-Fold with Pioneering Dual Inward-Folding Design

    0 shares
    Share 0 Tweet 0
  • Today’s currency exchange rates – 17 July, 2025

    0 shares
    Share 0 Tweet 0
  • Today’s gold rates in Pakistan – 17 July, 2025

    0 shares
    Share 0 Tweet 0
  • Today’s currency exchange rates – 15 July, 2025

    0 shares
    Share 0 Tweet 0

Connect with us

  • About Us
  • Contact Us
  • Privacy Policy

Copyright ©2025. Reproduction of this website's content without express written permission from 'Upfront' is strictly prohibited.

No Result
View All Result
  • Home
  • Pakistan
  • Budget 2025-26
  • Business
    • Forex
  • Sci&Tech
  • Automobiles
  • Sports
  • Entertainment
  • Life&Style
  • World
  • Education

Copyright ©2025. Reproduction of this website's content without express written permission from 'Upfront' is strictly prohibited.

Go to mobile version