KARACHI: Bank Alfalah Ltd reported a 58 per cent rise in first-quarter profit, supported by stronger core income and capital gains, the lender said.
Profit after tax reached Rs11.13 billion in the three months ended March 31, with earnings per share of Rs3.53. The bank announced an interim cash dividend of Rs1.5 per share.Net interest income rose 4.1 per cent, driven by growth in deposits and lending, while non-funded income increased on the back of capital gains, foreign exchange income and higher fee-based revenues.
Deposits stood at Rs2.47 trillion, including Rs1.02 trillion in current deposits, while gross advances reached Rs1.08 trillion, with growth across consumer, SME and agriculture segments.
The bank’s capital adequacy ratio remained strong at 16.22 per cent, above regulatory requirements.Separately, shareholders approved a 2-for-1 share split in March, leading to a restatement of comparative earnings and dividend figures.
