Bank Alfalah’s results for the half year ended June 2015 remained positive, with the Bank registering profit before provisions and taxation of Rs. 7.787 Billion – an impressive growth of 85 percent, as against the corresponding period last year. Profit after tax for the half year period was reported at Rs. 3.704 Billion, as against Rs. 2.610 Billion for the corresponding period last year. This reflects an improvement of 42 percent, despite a significant tax impact considered in the current period on account of recent changes enacted to tax laws. Expense management controls were further strengthened and resultantly the Bank’s cost to income ratio stood improved at 58 percent. “The Bank has delivered sound financial performance during the first half of the year. We are optimistic that we will continue to create further value in the lives of the people we touch,” said Atif Bajwa, President and CEO, Bank Alfalah
Bank Alfalah announces solid half yearly financial results
