AIRLINK 189.36 Increased By ▲ 1.33 (0.71%)
BOP 11.10 Decreased By ▼ -0.76 (-6.41%)
CNERGY 7.28 Decreased By ▼ -0.26 (-3.45%)
FCCL 36.65 Decreased By ▼ -1.14 (-3.02%)
FFL 14.95 Decreased By ▼ -0.29 (-1.9%)
FLYNG 26.19 Increased By ▲ 0.66 (2.59%)
HUBC 130.89 Increased By ▲ 0.74 (0.57%)
HUMNL 13.47 Decreased By ▼ -0.14 (-1.03%)
KEL 4.28 Decreased By ▼ -0.07 (-1.61%)
KOSM 6.08 Decreased By ▼ -0.09 (-1.46%)
MLCF 45.94 Increased By ▲ 0.26 (0.57%)
OGDC 201.86 Decreased By ▼ -4.57 (-2.21%)
PACE 6.12 Decreased By ▼ -0.26 (-4.08%)
PAEL 38.36 Decreased By ▼ -1.95 (-4.84%)
PIAHCLA 16.73 Decreased By ▼ -0.22 (-1.3%)
PIBTL 7.94 Decreased By ▼ -0.09 (-1.12%)
POWER 9.86 Decreased By ▼ -0.17 (-1.69%)
PPL 173.46 Decreased By ▼ -5.38 (-3.01%)
PRL 34.73 Decreased By ▼ -1.63 (-4.48%)
PTC 23.95 Decreased By ▼ -0.44 (-1.8%)
SEARL 101.74 Decreased By ▼ -1.42 (-1.38%)
SILK 1.07 No Change ▼ 0.00 (0%)
SSGC 32.70 Decreased By ▼ -3.54 (-9.77%)
SYM 17.93 Decreased By ▼ -0.30 (-1.65%)
TELE 8.14 Decreased By ▼ -0.24 (-2.86%)
TPLP 12.02 Decreased By ▼ -0.14 (-1.15%)
TRG 67.40 Increased By ▲ 0.07 (0.1%)
WAVESAPP 11.80 Decreased By ▼ -0.21 (-1.75%)
WTL 1.52 Decreased By ▼ -0.05 (-3.18%)
YOUW 3.90 Increased By ▲ 0.01 (0.26%)
BR100 11,819 Decreased By -87.9 (-0.74%)
BR30 35,000 Decreased By -554.1 (-1.56%)
KSE100 112,085 Decreased By -478.8 (-0.43%)
KSE30 34,946 Decreased By -148 (-0.42%)

Allied Bank (ABL) posted a profit-after-tax of Rs44.4 billion ($159.4 million) in 2024, a growth of over 7% more than earnings recorded in the preceding year, according to a stock notice on Tuesday.

As per ABL’s consolidated financial results, the bank’s earnings per share clocked in at Rs38.77 as opposed to Rs36.07 in 2023.

ABL’s board of directors in its meeting also announced a final cash dividend of Rs4 per share i.e. 40%, which is in addition to the interim dividends already paid at Rs12 per share i.e. 120%.

As per the income statement provided to the Pakistan Stock Exchange (PSX), the net interest income of ABL amounted to Rs115.4 billion in 2024, up over 2%, as compared to Rs112.9 billion registered in the previous year.

During the period under review, the bank’s fee and commission income jumped nearly 37% YoY to Rs16.2 billion, from Rs11.8 billion.

The bank posted massive gains on securities, which stood at Rs3.4 billion in 2024, as compared to a meagre Rs844 million in 2023, an increase of 308%.

Allied Bank’s profit jumps 25% in 2QCY24

Consequently, ABL’s non-markup income stood at Rs30.3 billion in 2024, in comparison to Rs25.6 billion, an increase of nearly 19% on a yearly basis.

Meanwhile, ABL saw its non-interest expenses balloon to Rs59.5 billion in 2024, compared to Rs49.7 billion in the preceding year.

The bank posted a profit before tax of Rs89.7 in 2024, up by 3%.

On the tax front, the bank paid Rs45.3 billion in 2024, lower than the Rs45.5 billion paid in 2023.

Comments

200 characters
NADEEM Feb 04, 2025 07:40pm
Mashallah ?
thumb_up Recommended (0) reply Reply
habibullah Feb 05, 2025 01:16pm
Profit rate Kiya hn AJ Kal
thumb_up Recommended (0) reply Reply
Haider Feb 05, 2025 11:15pm
Great news! Please spare some of it for your app :)
thumb_up Recommended (0) reply Reply