Share this story!            

BAFL expected to post Rs 1.342b PAT

Staff Report

KARACHI: Bank Al-Falah (BAFL) is expected to have posted profit after tax of Rs 1.342 billion in first half of 2007, showing an increase of 65 percent from Rs 813 million in the same period of last year, said Saad Bin Ahmed, an Analyst at Capital One Equities.

The bank is due to announce its financial results for the first half of 2007 on August 23, 2007. Its earnings per share is likely to rise to Rs 2.07 from Rs 1.25 in the first half of last year.

He says the profit after tax in the second quarter of the year is expected at Rs 680 million (EPS Rs 1.05) as against Rs 387 million (EPS Rs 0.60) in the same period of last year.

BAFL has achieved MCR target of Rs 6 billion, as required by the State Bank of Pakistan.

“BAFL paid out 78 percent (including bonus) of its earnings after tax in past two years. We do not expect an interim dividend; however, BAFL is expected to maintain its payout at 78 percent for calendar year 2007,” says the analyst.

Advance Deposit Ratio had increased to 66 percent in first quarter of this year from 63 percent average during CY06. The analyst says he expects deposit growth of 2 percent quarter-on-quarter.

Home | Business

Share this story!