Allied Bank Declares 10% Growth in Annual Net Profit

Due to a significant increase in net marking sales, Allied Bank Limited reported an annual profit growth in 2019 of 10 per cent. The bank declared Rs 14,11 billion after tax revenue in comparison with Rs 12,88 billion of earnings last year, according to the 2019 financial report released on Friday.

In comparison with EPS 11.25 of the previous year, the bank also announced Rs12.32 as earnings per share for the year.

The bank’s net interest revenue rose by 29.24 percent compared to Rs32.11 billion in 2019 to Rs41.5 billion in 2019.

However, total non-markup income slightly fell to Rs10.89 billion in 2019 as compared with Rs11.29 billion in the last year.

Therefore, the total income of the bank rose to Rs53.4billion in 2019 as compared with Rs43.4 billion in the preceding year.

Operating expenses of the bank were increased at Rs28.18 billion in 2019 as compared with Rs24.52 billion in preceding year.

The bank contributed income tax to the tune of Rs10.13 billion in the calendar year 2019 as compared with Rs8.13 billion in the preceding year, posting a significant increase of 25 percent.

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