KARACHI, Aug 16: Allied Bank Limited posted a pre-tax profit of Rs4.06 billion for the first half year ended June 30, 2006 registering a growth of 90 per cent over the corresponding period of last year.

The Board of Directors of the bank on Wednesday approved the accounts for the half year in its meeting held in Lahore.The operating profit jumped to Rs4.06 billion. The bank posted after tax profit of Rs2.26 billion, an increase of 117 per cent from the corresponding period of last year.

The earning per share improved to Rs5.04 from Rs2.32 in the corresponding period last year. The equity increased by 16 per cent to Rs15.5 billion.The deposits of the bank grew by 23 per cent to Rs198 billion, while loan book increased to Rs143 billion by posting a growth of 19 per cent during the first half year, while the NPL portfolio decreased by two per cent.