ISLAMABAD: Allied Bank (ABL) reported a profit-after-tax of Rs44.4 billion in 2024, marking a growth of over 7% compared to the previous year, according to a stock notice issued on Tuesday.
As per ABL’s consolidated financial results, the bank’s earnings per share (EPS) stood at Rs38.77, up from Rs36 in 2023.
The bank’s board of directors also announced a final cash dividend of Rs4 per share (40%), in addition to the interim dividends already paid at Rs12 per share (120%).
According to the income statement submitted to the Pakistan Stock Exchange (PSX), ABL’s net interest income reached Rs115.4 billion in 2024, reflecting a 2% increase from Rs112.9 billion recorded in the previous year.
Fee and commission income increased significantly, climbing nearly 37% year-on-year (YoY) to Rs16 billion from Rs12 billion.
The bank recorded substantial gains on securities, amounting to Rs3.40 billion in 2024— a 308% increase compared to just Rs844 million in 2023.
As a result, ABL’s non-markup income surged by nearly 19% on an annual basis, reaching Rs30.3 billion in 2024, up from Rs25.6 billion.
However, non-interest expenses also grew, rising to Rs59.5 billion in 2024 compared to Rs49.7 billion in the preceding year.
The bank’s profit before tax increased by 3%, reaching Rs90 billion in 2024.
On the tax front, ABL paid Rs45.3 billion in 2024, slightly lower than the Rs45.5 billion paid in 2023.
