KARACHI: Allied Bank Ltd on Wednesday posted 2018 profit after tax (PAT) of Rs13.032 billion, translating into earnings per share (EPS) of Rs11.38.

This represented an uptick of 0.8 per cent from profit of Rs12.925bn and EPS Rs11.12. The company also announced final cash dividend of Rs2 per share, taking the CY18 payout to Rs8 per share.

Arif Habib Research said the bank’s Net Interest Income (NII) settled at Rs32.1bn for the year, edging up by 2pc. However, NII jumped 9pc on a quarterly basis. Significant capital gains of Rs2.1bn during 1HCY18 and healthy growth in foreign exchange income led to an increase in non-funded income by 27pc during the year.

However non-interest income declined by 6pc year-on-year given lower dividend income in the fourth quarter. Operating expenses declined by 7pc while administrative expenses grew 18pc.

Published in Dawn, February 14th, 2019