BAFL profit up 27pc in 2022

KARACHI: Bank Al- Falah Limited on Thursday reported a 27 percent increase in its full-year net profit, due to an increase in interest-earned income.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs18.397 billion for the full-year ended December 31, 2022 up from Rs14.460 billion during the same period the previous year.

The bank also announced a final cash dividend for the year ended December 31, 2022 at Rs2.5/share, which was in addition to the interim cash dividend already paid at Rs2.5/share. Earnings per share came in at Rs10.38, compared with Rs8.12 a share last year.

The bank said its interest-earned income for the year rose to Rs213.949 billion, compared with Rs100.411 billion a year earlier. Interest expenses remained higher at Rs136.679 billion from Rs54.148 billion a year ago.