Bank Alfalah Reports an Earnings Per Share of Rs. 3.47 for the year 2013, with Profit before Tax Reported at Rs. 6.807 Bn.

Abu Dhabi, March 2, 2014: Bank Alfalah has reported Earnings per Share of Rs. 3.47, for the year ended December 31, 2013, improving from Rs. 3.38 per share reported for the year 2012. Profit before tax was reported at Rs. 6.807 billion for the year ended December 31, 2013 as against Rs. 6.783 billion for the last year. The Bank’s overall profitability has remained consistent, despite the low interest rates witnessed during the year.

The Bank’s Net markup income was recorded at Rs. 16.895 billion for 2013 as compared to Rs. 18.580 billion in 2012, and was supplemented by an increase of 13.7% in non mark-up income, which was recorded at Rs. 8.279billion for the year 2013, including a contribution of Rs. 2.800billion from fee based income and capital gain on sale of securities of Rs. 1.589 billion.

Gross provision charge against non performing loans of Rs. 3.388 billion was recorded during the year, which was of same level as the charge made last year. Improved recoveries of Rs. 2.433 billion during the year as against Rs 1.416 billion recoveries made last year and significantly lower provisioning required against the investment portfolio led to a significant improvement in the net provisioning charge against assets for the year 2013. The net provision charge against advances for the year was Rs. 0.955 billion, 48% lower than the net charge last year, while net provision charge against investments was Rs. 0.095 million for the year, as against Rs. 1.709 billion in 2012.

The Bank has strengthened its balance sheet with total assets rising to Rs. 610.614 billion at year end 2013. The Bank has also increased its deposit base by 15%, with closing deposits reported at Rs. 525.526 billion, whilst focusing on mobilizing low cost deposits. Net advances have grown to Rs. 260.780 billion at December 31, 2013, rising from Rs. 233.933 billion as at December 31, 2012.

The Bank’s non-performing loans (NPL) portfolio has improved to Rs. 17.947 billion at year end 2013, from Rs. 22.182 billion recorded the previous year end. NPL to gross loans ratio continues to be lower than the industry average and stood at 6.6% at year end 2013.

Bank Alfalah is adequately capitalized and has implemented the Basel-III reporting framework in line with the State Bank of Pakistan requirements during the year 2013.

The Bank’s Board of Directors, in their meeting held on March 02, 2014, have recommended a cash dividend of 20%, i.e Rs. 2/- per share, for approval by the shareholders.

Bank Alfalah has a network of 574 branches and over 500 ATMs spanning 196 cities. It is the leading issuer and acquirer of Credit Cards in Pakistan and boasts the country’s second largest Islamic Banking setup. In addition to providing mainstream financial products, the Bank also offers a complete range of doorstep banking facilities including branchless, mobile and internet banking.

Additional information may be found at

For details, please contact

Saba Karim Khan
Head of Corporate Communications
Bank Alfalah Limited
Tel: (+9221) 32423952, 021-111-777-786 (x) 2101