Islamabad: Bank Alfalah Limited reported a significant profit increase in its half-year financial results, with a notable rise in deposits and advancement in digital banking initiatives. The Board of Directors, meeting on August 1, 2024, declared a cumulative interim cash dividend of PKR 4.00 per share for the first half of the year.

According to Bank Alfalah, the bank achieved a profit after tax of PKR 20.609 billion with an Earnings Per Share (EPS) of PKR 13.07. This performance is supported by a strong deposit base which reached PKR 2.102 trillion as of June 30, 2024, marking an 18.3% year-over-year increase. The bank's credit portfolio also remained robust, with advances totaling PKR 820.004 billion, alongside a prudent credit discipline and sufficient provisioning against non-performing loans.

The bank's focus on digital innovation has strengthened its position in the market, introducing new digital products and enhancing its mobile application to improve customer experience and operational efficiency. Bank Alfalah continues to exceed the regulatory requirements with a Capital Adequacy Ratio (CAR) of 17.13%.

In line with its corporate social responsibility, Bank Alfalah remains dedicated to supporting community initiatives focused on health, education, and economic development, further establishing its commitment to societal betterment.