Bank Alfalah, which has successfully carved a respectable name in the banking industry of the country, posted a profit before provision and taxation of Rs.5.604 billion during 2010. The financial performance of the bank were presented by Sirajuddin Aziz, CEO and the president of Alfalah Bank at the 19th AGM chaired by Abdullah Khalil al Mustawa in the absence of Sheikh Hamdan Bin Mubarak Al Nahayan here today.
While responding to a volley of questions raised by the share holders, Sirajuddin Aziz Shared the banks performance and said that the deposit base of the bank grew by 9.01 percent to the tune of Rs354.015 billion as compared to the previous year, while the gross advances feature at Rs218.432 billion.
As far as the foreign trade figures was concerned it stood at rs254.705 billion for imports and Rs132.277 billion for exports as of December 31, 2010. During 2010 the bank opened 65 new branches including 14 subs branches taking the total branch network to 386 branches including 18 sub-branches across the country. Besides Pakistan the bank has also established branches in Afghanistan, Bangladesh, a WBU in Bahrain and a representative office in UAE.
The banks’s ATMS network includes 315 state of the art ATMs network across the country. Others bank officials present on the occasion were including Khalid Mana Saeed AlOtaiba, Ikram Ul Majeed Sehgal, Nadeem iqbal Sheikh and the executive staff of the bank hamid Ashraf and Zahid ali Jamall. The Islamic Bank banking business also recorded an increase of 38.26 percent in profit before tax to Rs.969.953 million from Rs701 million in 2009. Currently, there are 17 players in the market including dedicated Islamic banks and Islamic banking windows of commercial banks.
The Islamic banking operation of bank Alfalah ltd is now the second largest in Pakistan. Bank Alfalah has also launched Bancassurance services at selected branches in Karachi, Lahore, Rawalpindi, Islamabad, Peshawar, Abbotabad and Sargodha, Siraj disclosed.
0 comments:
Post a Comment