LAHORE (PR): The Board of Directors of Bank Alfalah in their meeting held in Abu Dhabi on 21stFebruary 2019, approved the Bank’s audited financial statements for the year ended December 31st2018. The Bank recorded profit after taxation of Rs.10.625 billion, for the year ended December 31st 2018, higher by 27% in comparison to 2017. The performance was largely driven by growth in its core business operations with revenue growth of 9.8% and operating expenses reduction by 2.4% versus last year. Net interest income grew by 9.0%, or Rs.2.615 billion, totaling Rs.31.591 billion, as a result of earning asset growth and better spreads. The Bank was able to overcome the pressure on net interest income (NII) due to the maturities of high yielding bonds and lagged re-pricing impact of asset book in rising interest rate scenario.