KARACHI: Bank Alfalah recorded a post-tax profit of Rs9.242 billion, translating into earnings per share of Rs5.20 at the end of the third quarter of 2019.

This was up from a profit of Rs8.629bn in corresponding period last year, said a press release issued on Saturday.

The bank’s pre-tax profits jumping by 16 per cent from a year ago, driven by revenue growth of 29pc. Higher spreads along with improved average deposits, rising advances and effective balance sheet management have contributed to a strong rise in net interest income.

Fee and commission income stood 12pc higher than same period last year. Gains realised on government securities last year and bearish stock market sentiments during the first half of 2019 were key contributors to lower capital gains and impairment charge, said the press release, adding that the administrative expenses increased by 21pc.

Published in Dawn, October 20th, 2019