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22 January 2004
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Thursday
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29 Ziqa'ad 1424
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ABL earns Rs2.2bn in 2003
By Our Staff Reporter
KARACHI, Jan 21: Allied Bank earned Rs2.2 billion operating profit in 2003 showing an annual increase of 30 per cent. During the year the bank recovered or settled Rs7.8bn non-performing loans
which also included cash recovery of Rs3.3 billion.
The recovery of NPLs shows an improvement of 81 per cent and cash recovery 57 per cent, says a press release.
The deposits of the bank increased to Rs114bn up 10 per cent over the last year's. "The foreign trade business handled during 2003 increased to Rs57bn and the advances portfolio stood at Rs54bn at the year-end."
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