On August 1, 2024, Bank Alfalah Limited’s (BAFL) Board of Directors approved the Bank’s financial results for the half-year period ending June 30, 2024.
The Bank reported a profit after tax of PKR 20.609 billion, translating to an Earnings Per Share (EPS) of PKR 13.07. An interim cash dividend of PKR 2.00 per share (20%) was declared for the quarter ending June 30, 2024. This, combined with the previously declared interim cash dividend of PKR 2.00 per share (20%), brings the total interim cash dividend for the year to PKR 4.00 per share (40%).
As of June 30, 2024, the Bank’s deposit base reached PKR 2.102 trillion, marking an 18.3% year-on-year increase. The Current Account (CA) ratio and the Current Account and Savings Account (CASA) ratio stood at 41.4% and 68.9%, respectively. The Bank continues to focus on expanding its customer base and enhancing its strategic pillars of growth and innovation.
The Bank’s advances totaled PKR 820.004 billion, maintaining a strong credit discipline despite challenging market conditions. Provisions against non-performing loans are robust, with a coverage ratio of 118.5%, including general provisions.
Capital adequacy remains strong, with the Capital Adequacy Ratio (CAR) at 17.13% as of June 30, 2024, comfortably exceeding regulatory requirements.
Bank Alfalah is also making strides as a leading digital bank, driven by innovation. Its advancements include a pioneering digital lifestyle branch, a unique sales and service center model, and significant upgrades to its mobile application, all of which have enhanced transaction efficiency and customer experience.
As part of its commitment to social responsibility, the Bank actively supports community initiatives through substantial charitable contributions and outreach programs. Focused on health, education, and economic opportunities, the Bank aims to uplift underprivileged communities and further its impact.
With a vision for future growth, Bank Alfalah is set to expand its reach, deepen its community impact, and continue fostering financial empowerment and innovation.