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Bank Alfalah Reports PKR 38.3 Billion Profit in 2024, Announces 85% Dividend

Bank-Alafalah

KARACHI, January 30, 2025: Bank Alfalah Limited (BAFL) delivered a strong financial performance in 2024, reporting a profit after tax of PKR 38.318 billion. The bank’s Earnings Per Share (EPS) reached PKR 24.30, reflecting strategic growth and operational resilience.

The Board of Directors approved a final cash dividend of PKR 2.50 per share (25%), bringing the total dividend for the year to PKR 8.50 per share (85%). This decision highlights the bank’s commitment to rewarding shareholders while maintaining financial strength.

Bank Alfalah Strengthens Market Position

Bank Alfalah’s total deposits surged to PKR 2.137 trillion, driven by strategic tax planning and a focus on low-cost deposits. The bank’s advances grew by 48.8% year-on-year, reaching PKR 1.156 trillion, demonstrating strong lending growth and risk management.

The bank maintained financial stability with a Capital Adequacy Ratio (CAR) of 17.96%, exceeding the minimum regulatory requirement and reinforcing its strong capital management strategy.

Driving Digital Banking Innovation

Bank Alfalah continued to lead the digital banking sector, introducing new products and expanding financial technology solutions. The bank remains focused on enhancing customer experience through digital innovation and financial inclusion initiatives.

Recognitions and Industry Achievements

Several organizations recognized Bank Alfalah’s outstanding performance in 2024:
PACRA upgraded the bank’s credit rating to ‘AAA’, reflecting its strong financial health. Pakistan Banking Awards (PBA) honored Bank Alfalah as the ‘Best Bank for Digital Excellence’ and ‘Best Bank for Customer Engagement’. Pakistan Stock Exchange (PSX) listed Bank Alfalah among its ‘Top 25 Companies’ for excellence in corporate governance, ESG, and investor relations.

Future Growth and Strategic Focus

Bank Alfalah plans to expand its digital footprint, enhance financial inclusion, and introduce innovative banking solutions. The bank remains committed to sustained growth, operational efficiency, and delivering long-term value to stakeholders.

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