Allied Bank of Pakistan (ABL) has restricted the negative growth spree in its profitability as it has succeeded in maintaining profit growth, achieving Rs. 13 billion in 2018.
ABL is among Pakistan’s leading banks and is ranked the 5th largest bank in terms of network and assets.
The bank’s profit grew by 0.8 percent in 2018 as compared to a profit of Rs. 12.92 percent in 2017. ABL’s profit had once reached the 14.4 billion rupee mark in 2016, however, it continued to fall in subsequent years.
The bank made money through interest income which surged to Rs. 32.1 billion in 2018, up from Rs. 31.5 billion in the previous year. Its non-interest income also surged to Rs. 11.2 billion in 2018, up from Rs. 9.3 billion.
The bank’s overall revenue stood at Rs. 43.9 billion with various expenses recorded at Rs. 23.6 billion in 2018.
Its earning per share stands at Rs. 11.38 whereas it announced a cash dividend of Rs. 2 per share in addition to Rs. 6 paid already in 2018.