February 02, 2023 (MLN): Bank Alfalah Limited (BAFL) announced its financial results for the year ended December 31, 2022, reporting a net profit of Rs18.39 billion, a YoY increase of 27.23%.
This resulted in earnings per share of Rs10.38, a 27.83% increase compared to the previous year.
The board of directors also declared a final cash dividend of Rs 2.5 per share, in addition to the interim cash dividend already paid, bringing the total dividend to 50%.
The bank saw a 67.02% increase in its net interest income to Rs77.27 billion, driven by a 113.07% YoY increase in interest-earning.
Non-markup income also rose by 85.24% YoY to Rs325.97 million, due to a 123.32% YoY increase in foreign exchange income and a 121.68% increase in dividend income.
Non-markup interest expense increased by 37.15% to Rs50.83 billion during the review period, while provisioning and write-offs amounted to Rs12.47 billion.
The bank paid Rs18.28 billion in taxes, a 93.52% increase compared to the previous year.
|
Profit and Loss Account for the year ended December 31, 2022 (Rupees in '000) |
|||
|---|---|---|---|
|
|
December 2022 |
December 2021 |
% Change |
|
Mark-up/return/interest earned |
213,949,738 |
100,411,841 |
113.07% |
|
Mark-up/return/interest expensed |
136,679,191 |
54,148,073 |
152.42% |
|
Net mark-up/return/interest income |
77,270,547 |
46,263,768 |
67.02% |
|
NON-MARK-UP/INTEREST INCOME |
|
|
|
|
Fee and commission income |
11,231,877 |
8,303,445 |
35.27% |
|
Dividend income |
1,091,320 |
492,297 |
121.68% |
|
Foreign exchange income |
9,218,628 |
4,127,984 |
123.32% |
|
Gain from derivatives |
331,578 |
200,776 |
65.15% |
|
Gain / (loss) on securities – net |
-162,659 |
3,143,609 |
-105.17% |
|
Other income |
669,831 |
573,254 |
16.85% |
|
Total non-mark-up/interest income |
325,971 |
175,973 |
85.24% |
|
Total Income |
99,977,093 |
63,281,106 |
57.99% |
|
NON-MARK-UP/INTEREST EXPENSES |
|
|
|
|
Operating expenses |
49,897,939 |
36,538,606 |
36.56% |
|
Worker’s welfare fund |
907,442 |
498,436 |
82.06% |
|
Other charges |
27,178 |
25520 |
6.50% |
|
Total non-mark-up/interest expenses |
50,832,559 |
37,062,562 |
37.15% |
|
Profit before provisions |
36,677,401 |
26,218,544 |
39.89% |
|
Provisions and write offs – net |
12,467,133 |
2,311,856 |
439.27% |
|
Profit before taxation |
36,677,401 |
23,906,688 |
53.42% |
|
Taxation |
18,279,937 |
9,446,220 |
93.52% |
|
Profit after taxation |
18,397,464 |
14,460,468 |
27.23% |
|
Earnings per share – Basic and Diluted (in Rupees) |
10.38 |
8.12 |
27.83% |
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Posted on: 2023-02-02T15:05:54+05:00
