BAFL 1HCY26 profit jumps 40%

MG News | July 30, 2026 at 02:12 PM GMT+05:00

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July 30, 2026 (MLN): Bank Alfalah Limited (PSX: BAFL) reported a robust 40% increase in its consolidated net profit for the half-year ended June 30, 2026 (1HCY26), recording Rs21.14bn compared to Rs15.06bn in the corresponding period last year.

The bank also announced a dividend of Rs1.5 per share.

The primary driver of the half-year profit expansion was a massive 43% surge in non-mark-up income alongside a credit loss provision reversal.

While net mark-up income experienced a modest 5% year-on-year growth to Rs70.81bn (up from Rs67.45bn), total non-mark-up income surged to Rs35.15bn from Rs24.55bn in 1HCY25.

This non-interest growth was spearheaded by a 123% explosion in gain on securities, which reached Rs17.87bn (up from Rs8.01bn), and a 33% increase in foreign exchange income to Rs7.10bn.

On the operational expense side, operating expenses rose by 8% to Rs60.64bn, bringing total non-mark-up expenses to Rs61.69bn.

Despite the overhead increase, total income growth comfortably outpaced cost expansion, pushing the profit before provisions up by 26% to Rs44.28bn.

The bank absorbed a 25% higher taxation charge of Rs23.72bn for the half-year.

Supported by the complete absence of losses from discontinued operations (which had cost Rs83.52m last year), Bank Alfalah Limited securely closed the six-month period with its total net profit reaching Rs21.14bn.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE HALF YEAR ENDED JUNE 30, 2026 (Rs.000)
Description	2026	2025	change %
Mark-up / return / interest earned	173,709,018	188,398,347	-7.8%
Mark-up / return / interest expensed	(102,896,023)	(120,947,512)	-14.9%
Net mark-up / return / interest income	70,812,995	67,450,835	5.0%
Fee and commission income	8,303,540	7,807,361	6.4%
Dividend income	1,196,467	1,410,510	-15.2%
Foreign exchange income	7,102,422	5,351,308	32.7%
Income from derivatives	582,449	388,566	49.9%
Gain on securities	17,868,144	8,005,619	123.2%
Share of (loss) / profit from associates	(40,764)	714,974
Other income	140,210	869,337	-83.9%
Total non-mark-up / interest income	35,152,468	24,547,675	43.2%
Total Income	105,965,463	91,998,510	15.2%
Operating expenses	(60,636,023)	(56,122,936)	8.0%
Workers' welfare fund	(1,033,758)	(821,570)	25.8%
Other charges	(17,357)	(9,557)	81.6%
Total non-mark-up / interest expenses	(61,687,138)	(56,954,063)	8.3%
Profit before credit loss allowance / provisions	44,278,325	35,044,447	26.3%
Reversal of / (charge) against credit loss allowance / provisions - net	579,353	(896,645)	-164.6%
Profit before taxation from continuing operations	44,857,678	34,147,802	31.4%
Taxation	(23,720,212)	(19,004,909)	24.8%
Profit after taxation from continuing operations	21,137,466	15,142,893	39.6%
Loss from discontinued operations - net of tax	-	(83,517)
Profit after taxation	21,137,466	15,059,376	40.4%
Earnings per share	6.70	4.77	40.5%

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