ABL posts Q3 profit higher by 9pc

KARACHI: Allied Bank Limited (ABL) on Wednesday reported a 9.0 per cent increase in its third quarter net profit, due to an increase in interest earned income.

In a statement to the Pakistan Stock Exchange (PSX), the bank reported a net profit of Rs12.415 billion for the quarter that ended September 30, up from Rs11.395 billion during the same period last year.

The bank also announced an interim cash dividend of Rs4 a share, which is in addition to interim dividend already paid at Rs8 per share. Earnings per share came in at Rs10.84, compared with Rs9.95 last year.

The bank said its interest earned income for the quarter rose to Rs98.91 billion, compared with Rs95.143 billion during the same quarter a year earlier. Interest expensed income also remained higher at Rs67.182 billion from Rs65.130 billion a year ago.For the nine months that ended September 30, the bank posted the net profit of Rs36.493 billion, up from Rs29.031 billion. EPS for this period was recorded at Rs31.87 from Rs25.35.