BAFL profit up 12.1 percent

Bank Al-Falah Limited (BAFL) has earned a net profit of Rs4.88 billion for the half-year ended June 30, 2017, showing a growth of 12.1 percent than the profit of Rs4.353 billion during the same period of the last year. 

The earnings per share (EPS) stood at Rs3.04 as compared to the Rs2.72 during the corresponding period of the last year. The bank did not announce any payouts along with the corporate announcement.

“Earnings surge helped by growth in fee, commission income and provision reversals,” said Umair Naseer at Topline Securities. Net interest income for the period stood at Rs14.95 billion, up five percent as compared to the income of Rs14.24 billion during the same period of the last year.

Non-interest income also increased 9.5 percent to Rs5.482 billion as against Rs5.004 billion last year. For the quarter ended June 30, 2017, BAFL posted a net profit of Rs2.092 billion, translating into EPS of Rs1.3 as against the profit of Rs1.886 billion and EPS of Rs1.18 during the corresponding period of the last year.