LAHORE, May 7: The operating profit of Allied Bank Limited increased to Rs2.4 billion for the first quarter of 2008 ended on March 31. This translates into a growth of 12 per cent over the corresponding period of last year.

The ABL board of directors, in its meeting held here recently, approved the financial statements for the given period, says a press release issued here on Wednesday.

The profit after tax remained almost at the same level of Rs1.4 billion for the first quarter of 2008 compared to the corresponding period of last year. This represents annualised earnings per share of Rs8.40.

Balance-sheet size of the bank grew to Rs333 billion or 3.9 per cent over December 31, 2007 contributed by growth in deposits of 5.3 per cent whereas loan book grew by 4.7 per cent.