KARACHI: Bank Alfalah Ltd posted an unconsolidated income of Rs3.7 billion for the Oct-Dec quarter, up 74 per cent from a year ago, a stock filing said on Wednesday.

Full-year profitability clocked in at Rs14.2bn, up 36pc from 2020. The bank also announced a cash dividend of Rs2 per share. The result was in line with the market expectations, said a research note by Insight Securities.

During the quarter under review, net interest income amounted to Rs12.1bn, up 19pc and 2pc on yearly and quarterly bases, respectively.

The brokerage said the rise was because of the balance sheet expansion as the net interest margin stayed unchanged around 3.3pc from the preceding three-month period. Growth in non-mark-up income remained strong with an annual rise of 76pc.

The bank’s share price declined 2.04pc to Rs377.96 on the stock exchange.

Published in Dawn, February 3rd, 2022