KARACHI (PR): Bank Alfalah has earned profit before taxation of Rs 6.807b for the year ended December 31, 2013, as compared to Rs 6.783b earned in 2012, thereby maintaining its profitability amidst a tough operating environment. Earnings per share were reported at Rs 3.47 as against Rs. 3.38 reported last year.
During the 22nd Annual General Meeting (AGM) of the Bank, shareholders were informed that the Bank’s deposits have witnessed a growth of 15 per cent to end at Rs. 525.526b. Gross advances increased from Rs 248.346b to Rs 273.82b at the end of December 2013, reflecting a year on year growth of 10.26 per cent. The 22nd AGM of the Bank was chaired by Abdulla Khalil Al Mutawa and attended by other Board members, including Khalid Mana Saeed Al Otaiba, Ikram ul-Majeed Sehgal, Nadeem Iqbal Sheikh, Atif Bajwa, CEO of Bank Alfalah and the Bank’s shareholders. The Bank’s Chief Executive Officer, Atif Bajwa said, “Our financials indicate that the Bank is well on track with respect to targeted key performance indicators, despite the challenging operating environment.
These results are reflective of our growing core businesses that offer customized products and services to enhance transacting convenience for our customers.