Bank Alfalah Limited’s Board of Directors convened on April 24, 2024, and ratified the financial outcomes for the quarter concluding on March 31, 2024.
The bank posted a profit after tax of Rs. 9.912 billion, equating to earnings per share (EPS) of Rs. 6.28. In response, the Board endorsed an interim cash dividend of Rs. 2.00 per share.
As of March 31, 2024, the Bank’s deposit base stood at Rs. 2.043 trillion, reflecting a notable 31.5% year-on-year (YoY) expansion, distinguishing it as one of the fastest-growing entities in the banking landscape. Our primary focus remains on fortifying our customer relationships, centered on strategic expansion and innovation.
Bank Alfalah is committed to advancing its position as a premier transactional bank. Notably, the Bank has witnessed substantial gains in market share across key performance indicators, including trade activity, remittances, consumer products, and deposit inflows.
The bank’s advances were reported at Rs. 754.298 billion, maintained with robust credit discipline amid challenging market dynamics, and backed by adequate provisioning against non-performing loans, inclusive of general provisions at 124.5%.
Bank Alfalah retains a solid capital position with a Capital Adequacy Ratio (CAR) of 17.00% as of March 31, 2024, comfortably surpassing regulatory thresholds.
The Bank is reinforcing its reputation as a top-tier digital institution through continuous innovation in products and service channels. Pioneering initiatives such as the Digital Lifestyle branch and enhancements to the mobile application have significantly amplified transaction volumes.
Furthermore, the bank is steadfast in advancing digital transformation to optimize service efficiency and meet evolving customer expectations.
In line with its commitment to social responsibility, Bank Alfalah continues to engage in impactful community outreach initiatives in collaboration with trusted partners in the development sector. Through strategic philanthropy, the bank supports programs aimed at enriching social, economic, and environmental capital.
Bank Alfalah is positioned to chart new territories, expand its footprint, and deepen its positive influence on community welfare and financial inclusion.
