Press Releases

2013

 

H.E. Sheikh Muhammad Al Nahayan inaugurates 500th branch of Bank Alfalah

Karachi, September 17, 2013: His Excellency Sheikh Muhammad Al Nahayan, Chairman Dhabi Holdings and son of His Highness Sheikh Nahayan bin Mubarak Al Nahayan, inaugurated the 500th branch of Bank Alfalah in Karachi yesterday. The ceremony was attended by Mr. Atif Bajwa, CEO, Bank Alfalah, Mr. David Burlison, Managing Director, Dhabi Holdings, Mr. Ikram-Ul-Majeed Sehgal, Director, Bank Alfalah and senior management of Bank Alfalah.

Speaking on the occasion, His Excellency Sheikh Muhammad Al Nahayan said, “I would like to congratulate the CEO, management and employees of Bank Alfalah on achieving this important milestone. Under Atif’s leadership, the Bank has made outstanding progress and continues to move on a sharp trajectory of growth. I wish to reiterate the Group’s commitment towards the development and prosperity of Pakistan and its great people.”

Bank Alfalah is Pakistan’s sixth largest Bank and now boasts a branch network of 500 branches across 172 cities in Pakistan along with a presence in Bangladesh, Afghanistan, Bahrain and the UAE. It is also the largest acquirer of credit cards in Pakistan and enjoys a strong position in the SME and Islamic Banking segments.

Addressing the audience, the CEO of Bank Alfalah, Atif Bajwa said, “With 500 branches, Bank Alfalah is a strong and serious player in Pakistan’s retail and consumer banking segments, providing customers with a wide range of financial products and services. Going forward, the Bank aims to continue expanding its branch network to provide greater access and convenience to our diverse range of customers.”

About Bank Alfalah Limited:

Bank Alfalah is a progressive, full service banking institution operating in Pakistan since 1992 with majority shareholding of the Abu Dhabi Group. The Bank has a network presence of 500 branches spanning 172 cities across the country with an international presence in Afghanistan, Bangladesh, a wholesale banking unit in Bahrain and a representative office in the UAE. The Bank services more than 1 million corporate, institutional, retail, small business, agricultural, Islamic and asset financing customers. END
Additional information may be found at www.bankalfalah.com
For more information contact:
Saba Karim Khan
Head of Corporate Communications
Bank Alfalah Limited| Tel: (+9221) 32423952, 021-111-777-786 (x) 2101
Email: saba.khan@bankalfalah.com

Bank Alfalah Announces Profit after Tax of Rs. 3.318 Bn for the Nine Month Period September 2013


Karachi, October 27, 2013: Bank Alfalah posted a Profit after Tax of Rs. 3.318 Billion and an EPS of Rs. 2.46 per share for the nine month period ended September 30, 2013.

The results demonstrate the resilience of the Bank amidst a challenging operating environment and a low interest rate scenario. Profit before tax for the third quarter 2013 registered an impressive growth of 24% over the same time period for 2012 and was recorded at Rs. 2.039 Billion as against Rs. 1.640 Billion for the corresponding quarter last year.

Net interest income for the nine month period ended September 30, 2013 was recorded at Rs. 12.519 Billion as compared to Rs. 13.879 Billion for the comparative period last year. Non mark up income rose by 18% to Rs. 5.958 Billion whereas non mark-up / interest expenses remained in check at Rs. 12.614 Billion in September 2013, rising by approximately 7.1% over the same period last year.

The Bank also continues to improve its deposit mix, whilst increasing its overall deposit base, which rose to Rs. 493 Billion at September 2013 from Rs. 457 billion at December 2012. The Bank’s total assets have increased by 7.3% in the nine months period ended September 2013 and were recorded at Rs. 575.9 Billion. Net advances remained stable at Rs. 236.3 Billion and net investments rose by 13.5% to Rs. 215 Billion at September 2013.

The Bank’s NPL infection ratio stands at 8.5%, which is below the industry average, indicating the quality of the Bank’s advances portfolio and its credit risk management. Non- performing loans (NPL) of the Bank were recorded at Rs. 21.296 billion at September 2013, lower than the December 2012 level of Rs 22.182 billion.

The Bank continues to explore growth and expansion opportunities whilst seeking to tackle the challenges imminent from the present economic scenario. The Bank has recently achieved the 500 branch milestone for its footprint spread across over 170 cities. Going forward, the Bank aims to continue to introduce bespoke financial solutions in order to provide ‘transacting convenience’ to its clients and to continue creating value for its shareholders.
About Bank Alfalah Limited:
Bank Alfalah is a progressive, full service banking institution operating in Pakistan since 1992 with majority shareholding of the Abu Dhabi Group. The Bank has a network presence of over 500 branches spanning more than 170 cities across the country with an international presence in Afghanistan, Bangladesh, a wholesale banking unit in Bahrain and a representative office in the UAE. The Bank services more than 1 million corporate, institutional, personal, small business, agricultural, Islamic and asset financing customers.
Additional information may be found at www.bankalfalah.com
For more information contact:
Saba Karim Khan
Head of Corporate Communications, Bank Alfalah Limited
Tel: (+9221) 32423952, 021-111-777-786 (x) 2101 – Email: saba.khan@bankalfalah.com
.

Bank Alfalah Inaugurates its 555th Branch

Karachi, December 17, 2013: His Excellency Sheikh Muhammad Al Nahayan, Chairman Dhabi Holdings and son of His Highness Sheikh Nahayan bin Mubarak Al Nahayan, inaugurated the 555th branch of Bank Alfalah in Karachi. The branch inauguration ceremony was attended by Mr. Atif Bajwa, CEO, Bank Alfalah, Mr. Abdul Jabbar Alsayegh and Mr. David Burlison of the Abu Dhabi Group, and senior management of Bank Alfalah. The Bank today boasts a network of 555 branches and a complete suite of doorstep banking facilities, including mobile banking, internet banking and cash management.

Speaking on the occasion, His Excellency Sheikh Muhammad Al Nahayan said, “The inauguration of the Bank’s 555th branch is yet another step towards achieving our vision of growth, development and prosperity for Pakistan’s financial services sector and reiterating our commitment to the country. On behalf of the Abu Dhabi Group, I wish to congratulate the entire management and express my appreciation for the CEO, Atif Bajwa, in particular, for spearheading this continued success.”

“In a span of just 16 years, the Bank has become the sixth largest player in Pakistan’s financial services industry, the second largest Islamic Bank and the largest issuer and acquirer of credit cards in the country. Looking ahead, with our expanding retail footprint and bespoke financial payment solutions, we hope to build upon this growth trajectory. I also wish to thank the Abu Dhabi Group for their invaluable support and commitment, without which none of this would have been achievable,” said Bank Alfalah’s CEO, Atif Bajwa.

Bank Alfalah is a progressive, full service banking institution with majority shareholding of the Abu Dhabi Group. Outside Pakistan, Bank Alfalah has presence in Bangladesh, Afghanistan, Bahrain and the UAE.

About Bank Alfalah Limited:

The Bank has a network presence of 555 branches spanning 196 cities with an international presence in Afghanistan, Bangladesh, a wholesale banking unit in Bahrain and a representative office in the UAE. The Bank services more than 1 million corporate, institutional, retail, small business, agricultural, Islamic and asset financing customers.
Additional information may be found at www.bankalfalah.com
For more information contact:
Saba Karim Khan
Head of Corporate Communications
Bank Alfalah Limited| Tel: (+9221) 32423952, 021-111-777-786 (x) 2101
Email: saba.khan@bankalfalah.com
.

Bank Alfalah posts Profit before Tax (PBT) of Rs 1.527 billion in First Quarter of 2013

Karachi, April 24, 2013: Bank Alfalah has posted a healthy profit before tax of Rs. 1.527 billion for the first quarter ended March 31, 2013, a commendable achievement considering the challenging macro-economic landscape and the declining interest rates environment.

Profit after tax for the first quarter was recorded at Rs. 1.011 billion and earnings per share were reported at Rs. 0.75. The bank has managed to increase its non mark-up income by 27% to Rs. 1.864 billion in the first quarter ended March 31, 2013 compared to the corresponding period last year. Revenue for the first quarter was reported at Rs. 5.688 billion, a decline from Rs. 6.108 billion reported in the corresponding period last year mainly attributable to pressure on net interest income due to lower interest rates in the current quarter.

Total assets increased to Rs. 544.724 billion at March 31, 2013 as compared to Rs. 536.467 billion at year end 2012, further strengthening bank’s financial position.

Bank Alfalah’s NPLs to gross loans ratio remains below the industry infection ratio, and the bank continues to maintain adequate provisioning against the classified portfolio.

The Bank remains committed to deliver value to its stakeholders, through diversifying revenue streams, expanding branch footprint and introducing innovative technologies and products.

- END-

 About Bank Alfalah Limited:

Bank Alfalah is a progressive, full service banking institution operating in Pakistan since 1992 with majority shareholding of Abu Dhabi Group. The Bank has a network presence of 471 branches spanning 163 cities across the country with an international presence in Afghanistan, Bangladesh, a wholesale banking unit in Bahrain and a representative office in the UAE. The Bank services more than 1 million corporate, institutional, personal, small business, agricultural, Islamic and asset financing customers.

Implementation of International Bank Account Number (IBAN) in Pakistan


The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across international borders.

 

IBAN is being introduced in Pakistan on the instructions of the State Bank of Pakistan. It will bring more efficiency in the processing of electronic funds transfers, including remittances sent by overseas Pakistanis.

 

Customers are requested to obtain their IBAN from nearest Bank Alfalah branch and note for future use.

Bank Alfalah and UnionPay International Join Hands for a Strategic Cards Alliance


Karachi: Bank Alfalah Limited (BAFL), one of Pakistan’s top-tier banks, owned and operated by the Abu Dhabi Group has recently signed an agreement with UnionPay International (UPI) to accept UnionPay cards in Pakistan. This unique, landmark partnership is a major milestone for both companies and also marks a breakthrough in forging business links between financial institutions in China and Pakistan. Bank Alfalah is aiming to implement the acceptance of UnionPay Cards on POS terminals in Pakistan in early 2013 followed by acceptance of UnionPay Cards on ATMs thereafter.

 

UnionPay International is a subsidiary focusing on international business of UnionPay, with the purpose of further expanding UnionPay Card’s usage globally and providing wider and more convenient bankcard services. To date, the total number of the UnionPay Card issued has exceeded 3.4 billion. The UnionPay Card’s network has been extended to all the cities and rural areas in China as well as 135 countries and regions.

 

Mr Atif Bajwa, Bank Alfalah’s President and CEO, said, ‘We are immensely pleased to be entering into an alliance with UnionPay International to facilitate the acceptance of their cards in Pakistan. We are optimistic that our widespread presence and footprint,with over 21,600 POS terminals countrywide, will go a long way in assisting UnionPay Card holders to conduct their transactions with enhanced efficiency, convenience and ease. Going forward, we will continue to explore meaningful avenues for collaboration with UnionPay International in order to provide customers in Pakistan with even better, more sophisticated financial solutions.’

 

As we enter 2013,  Bank Alfalah continues to operate through a network of 471 branches across 163 cities in Pakistan in order provide consumers, corporations, institutions and governments with a broad spectrum of financial products and services, including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, agricultural, Islamic and asset financing.

Bank Alfalah Achieves the Centennial Mark for its Islamic Banking  Branch Network

Karachi, Jan 08, 2012: Bank Alfalah, owned and operated by the Abu Dhabi Group is pleased to announce that it has surpassed the centennial branch mark with the opening of its 100th branch at Bokhari Commercial, DHA Phase VI, Karachi. Today, the Bank boasts a nation-wide network of 110 Islamic banking branches and is ranked the no.2 Islamic Bank in Pakistan.

 

Bank Alfalah’s Chief Executive Officer, Atif Bajwa said, ‘We are pleased to cross the century mark for our Islamic Banking branches – this is a major milestone for the Bank. Since inception in 2003, Bank Alfalah’s Islamic banking has evolved into a vibrant entity. I would like to give credit to Mr Ijaz Farooq, Head of Islamic Banking who has ably led a team of dedicated individuals whose efforts and commitment have made this milestone possible. We remain focused on developing an innovative range of Shariah compliant products and services based on the requirements of our customers. We are optimistic that with the addition of new branches, we will be able to further enhance customer convenience and serve our clients even better.’

 

Islamic Banking remains a top priority area for the Bank. It will continue to focus on introducing new products, services and expanding its network for its customers in the country.

24/7 Customer Support

For details about our Products & Services call our Phone Banking Service at 111-225-111