The profit after tax of Allied Bank Limited has increased to Rs 12.227 billion in the nine month period ended September 30, 2016 as compared to Rs 11.861 billion earned in the corresponding period in 2015. The bank's earning per share surged to Rs 10.68 in the period under review against Rs 10.36 in the same period last year.
In the third quarter ended September 30, 2016, Allied Bank Limited posted Rs 3.626 billion as profit after tax translating into earning per share of Rs 3.17 as compared to PAT of Rs 4.505 billion with EPS of 3.93 in the corresponding quarter last year. The board of directors of the bank in its meeting held on Friday at Lahore recommended an interim cash dividend for the quarter at Rs 2.00 per share ie 20 percent. This is in addition to interim dividends already paid at Rs 3.50 per share ie 35 percent.
According to the financial results, the banks mark-up/return/interest earning stood at Rs 15.393 billion in the third quarter of this year against Rs 17.644 billion in the same quarter last year while mark-up/return/interest expenses reduced to Rs 7.152 billion against Rs 8.254 billion. The bank's non-mark-up/return/interest income stood at Rs 1.854 billion in this quarter against Rs 2.131 billion in the same quarter last year while non-mark-up/return/interest expenses increased to Rs 4.928 billion against Rs 4.663 billion.
The bank's profit before taxation stood at Rs 5.638 billion in this quarter against Rs 6.934 billion in the same quarter last year. In the nine months period ended September 30, 2016, the bank's profit before taxation stood at Rs 20.343 billion as compared to Rs 20.513 billion in the same period in 2015.
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