KARACHI: Bank Alfalah Limited posted profit before tax of Rs3.978 billion for the half year ended June 30, 2014, registering an impressive growth of 45 percent against the corresponding period last year.
Earnings per share for the half year 2014 were reported at Rs1.93 as against Rs1.44 for the corresponding period, an increase of 34 percent, a press release issued here on Wednesday said.
Total revenue for the half year period was reported at Rs13.943 billion as against Rs11.754 billion reported for the corresponding period, indicating a growth of 19 percent.
The Bank's asset base has strengthened to Rs672.532 billion at June 30, 2014 from Rs610.614 billion at year end December 2013, improving by 10 percent. Net investments have increased by 20 percent to Rs264.034 billion at June 2014 as compared to December 2013.
Non-performing loans (NPL) portfolio of the Bank was recorded at Rs17.791 billion at June 2014, with the gross loans to NPL ratio recorded at 6.2 percent. The Bank remains adequately capitalized at June 30, 2014.
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