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ABL Posts Modest Profit Growth in H1 2021

Allied Bank Limited made a modest profit growth of 4 percent in the first half of 2021, which stood at Rs. 8.76 billion as compared to last half year’s profit of Rs. 8.41 billion.

This is the highest ever profit of the bank at the end of the first half of the calendar year.

According to the financial results announced today through notification to PSX, the bank interest income decreased to Rs. 23 billion during the period of January to July compared to Rs. 25 billion reported in the same period of the last year.

However, the bank’s non-markup income maintained a growth, which surged to Rs. 7.9 billion during Jan –Jul as compared to Rs. 6.6 billion was reported last year.

The bank’s earnings per share value surged to Rs. 7.65 from Rs. 7.35. The board of directors announced a dividend payout of Rs. 2 per share for the shareholders. This is in addition to the interim dividend of Rs. 2 per share paid already.

The bank’s deposits surged to Rs. 1.2 trillion, and assets increased to over Rs. 1.7 trillion. It is operating with more than 1,400 branches across the country.

The management of ABL is focusing on enhancing its services through digital channels and enhance the participation of investment in government papers and private bonds.

In 2020, the bank made its all-time high profit of Rs. 14.1 billion.


Source: Pro Pakistani

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