KARACHI (February 26 2008): The Bank Alfalah Limited has earned Rs 3.130 billion as profit after-tax in the year ended December 31, 2007 as compared to Rs 1.762 billion earned in the same period in 2006. The earning per share of the bank increased to Rs 4.82 in the period under review against Rs 2.91 in the same period a year back.

The board of directors of the bank in its meeting recommended a cash dividend for the year at Rs 1.50 per share ie 15 percent. The board also recommended bonus share in proportion of 23 shares for every 100 shares held ie 23 percent.

The board also resolved that the authorised capital of the bank be increased from Rs 8 billion to Rs 15 billion divided into 1.5 billion shares of Rs 10 each. According to the results, the bank's mark-up/return/interest income surged to Rs 25.783 billion in this period against Rs 21.191 billion in the same period a year back. While the mark-up/return/interest expenses stood at Rs 16.620 billion against Rs 15.232 billion.

The total non mark-up/interest income of the bank increased to Rs 6.038 billion in this period against Rs 3.224 billion previously while the total non mark-up/return expenses stood at Rs 8.289 billion against Rs 5.918 billion. The bank's profit before-tax increased to Rs 4.535 billion in 2007 as compared to Rs 2.565 billion in 2006.

Copyright Business Recorder, 2008