Bank Alfalah's profit after tax increases

The profit after tax of Bank Alfalah has increased to Rs 3.001 billion in the nine month period ended September 30, 2011 as compared to Rs 1.501 billion earned in the corresponding period in 2010. The board of directors of the bank in its meeting held on October 24, 2011 declared that the bank's earning per share has increased to Rs 2.22 in the period under review against Rs 1.11 in the same period last year.
According to the financial results sent to Karachi Stock Exchange, the bank's mark-up/return/interest earning increased to Rs 32.110 billion against Rs 27.930 billion while mark-up/return/interest expenses increased to Rs 18.083 billion against Rs 17.982 billion.
The bank's total non mark-up/interest income increased to Rs 3.948 billion against Rs 3.374 billion while total non mark-up/interest expenses increased to Rs 10.326 billion against Rs 9.113 billion. The bank's profit before taxation increased to Rs 4.788 billion in the nine month period in 2011 as compared to Rs 2.250 billion in the same period in 2010.
On quarterly basis, the bank's profit after tax increased to Rs 1,093.217 million translating earning per share of Re 0.81 in the quarter ended September 30, 2011 as compared to after tax profit of Rs 422.860 million with per share earning of Re 0.31 in the same quarter last year.