August 11, 2023: The Board of Administrators of Financial institution Alfalah Restricted (BAFL), in its assembly held on August 10, 2023, accredited the Financial institution’s monetary outcomes for the half yr ended June 30, 2023.
Pakistan weathered financial stress throughout the first half of 2023. Nonetheless, the Financial institution has delivered sound monetary outcomes, posting revenue earlier than tax of Rs. 35.865 billion. The revenue after tax stands at Rs. 18.620 billion, representing a progress of 113.9% over final yr, even after absorbing tremendous tax imposed by the Federal Authorities. The Incomes Per Share (EPS) for the half yr stands at Rs. 11.81 (Jun ’22: Rs. 4.90). The Board has declared an interim money dividend of Rs. 3.00
(Jun ’22: Rs. 2.50) per share.
Financial institution Alfalah’s deposit base elevated by 34.6% year-on-year (YoY), closing at Rs. 1.776 trillion as at June 30, 2023. The Financial institution additionally improved its market share in deposits. CA and CASA ratios stood at 42.8% and 71.3% respectively.
The Financial institution’s advances closed at Rs. 798.096 billion, whereas sustaining a powerful credit score self-discipline amid difficult market fundamentals. The Financial institution has ample protection of its non-performing loans by over 102% (together with normal provision).
The Financial institution stays adequately capitalised with CAR nicely above the regulatory requirement.
The Financial institution continues to be well-positioned for sustainable progress and the creation of long-term shareholder worth, regardless of macroeconomic challenges. The first goal is to additional strengthen the Banks market share, and, as well as, we’re dedicated to enhancing our home presence, delivering unmatched providers to our clients, and reaching a broader viewers. The Financial institution continued to broaden its community and in addition opened Pakistan’s first Digital Way of life department throughout the quarter.
By means of strategic imaginative and prescient, customer-centric method, and dedication to innovation, Financial institution Alfalah is poised to embrace the long run and obtain sustainable success.