The Operating Profit of Allied Bank Limited (ABL) increased to Rs 2.4 billion for the first quarter ended March 31, 2008. This translates into a growth of 12 percent over the corresponding period of last year, says a press release. The Board of Directors of ABL, in its meeting held on April 26, 2008 in Lahore, approved the financial statements for the given period.
The profit after tax remained almost at the same level of Rs 1.4 billion for the first quarter of 2008 compared to the corresponding period of last year. This represents annualised Earnings Per Share of Rs 8.40. Balance sheet size of the Bank grew to Rs 333 billion or 3.9 percent over December 31, 2007 contributed by growth in deposits of 5.3 percent whereas loan book grew by 4.7 percent.-PR
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