Karachi, April 20, 2022 (PPI-OT): Commercial Banks – Allied Bank Limited

Earnings: Allied Bank Limited (ABL) announced its financial result for the first quarter of the year 2022. As per the financial result, the bank reported earnings of PKR 4.8bn (PKR 4.2/share) compared to last year PKR 4bn (PKR 3.5/share), an increase of 20%y.

Dividends/Payouts: The bank announced an interim cash dividend of PKR 2/share this quarter as expected compared to last year dividend of PKR 2/share.

Operating performance: During the period under review, the bank reported net-interest income of PKR 12.5bn (up by 16%y) and non-interest income of PKR 4.1bn (up by 7%y). As a result, total revenue of the bank stood at PKR 16.6bn (up by 14%y). Moreover, the bank recorded operating expenses of PKR 8.9bn (up by 10%y) that improved bank’s cost/income ratio to 53.3% (last year: 55.1%). The bank booked a provision reversal of PKR 0.3mn.