KARACHI, Feb 14: Bank Alfalah Ltd. posted an after-tax profit of Rs310 million in year 2001 up from Rs215 million in 2000.

The board of directors of the bank that met at Abu Dhabi on Wednesday (Feb 13) noted with appreciation the performance of the bank in the last year and approved the annual accounts.

According to a press release the deposits of Bank Alfalah rose to Rs30 billion in year 2001 up from Rs20 billion in 2000 and its advances went up to Rs20 billion from Rs16 billion. Pre-tax profit shot up to Rs524 million from Rs400 million.

“During the year 2001 the bank launched several consumer banking products like rupee travellers cheques, special long-term deposit products, car financing schemes and loans for non-resident Pakistanis in UAE.”

The number of branches rose to 32 in year 2001 from 22 in 2000.