Corporate Result: BAFL reports 8.6% decline in 1QCY20

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Bank Alfalah Limited (PSX: BAFL) has announced the Financial results for the 1st Quarter ended March 31, 2020, whereby it has reported Profit After Tax of Rs. Rs. 2.89 billion showing a decline of 8.6% YoY as compared to the profits of last year.

The company also announced the Earnings of Rs. 1.63 for the 1st Quarter period ended March 31, 2020.

During the quarter, the bank managed to retain profits mainly on the back of Net Interest Income which surged by 5.5% YoY, whereas the total Non-Interest Income depicted a rise of 21% YoY.

The substantial rise in the latter was a result of aggressive growth in FX income by 1.2x, as well as an increase in the share of profit from associates by 1.45x.

BAFL – 1st Quarter

EPS 2020 = 1.63 PKR
EPS 2019 = 1.79 PKR

Cash Dividend = NIL
Bonus Share = NIL