ISLAMABAD, Feb 26 (APP):The profit before taxation of Bank Alfalah was recorded at Rs14.045 billion during the calender year 2017, showing 7.9 percent improvement when compared to the profit of Rs13.023 billion during 2016.
According to the press statement of the bank, the profit after tax also improved by 5.9 percent by going up from Rs7.900 billion last year to Rs8.367 billion during the CY 2017, adding that this translated into an EPS of Rs. 5.21 per share for 2017 against Rs. 4.93 per share in 2016.
Despite pressure on interest margins due to a consistent low interest rate environment and maturities of high yielding bonds, total revenue for the year increased to Rs39.174 billion as against Rs37.899 billion last year, improving by 3.4 percent.
Growth in overall average earning assets, reduction in funding costs, and continued focus on core fee and commission, all contributed to this growth.
During the year, the Bank continued with its focus on strategic cost control and optimization initiatives and went through an internal re-organisation, the cost of which has impacted the fourth quarter results.
In order to improve efficiency and to remove redundancies, processes were centralized, and branches where management felt prospects were limited, were closed.
Total non-mark up expenses were reported at Rs25.389 billion as against Rs23.692 billion last year, growing by 7.2 percent despite incurring significant non recurring cost.
With reversals against NPLs significantly in excess of the charge considered for the year, net reversals for the current year were recorded at Rs. 434.16 million, as against a charge of Rs1.083 billion considered last year, which further aided bottom line profitability. As of December 31, 2017, the Bank’s Non-performing loans (NPLs) ratio stood at 4.2 percent, and continues to remain one of the lowest infection ratios in the industry which is better than the industry average. The Bank’s coverage ratio improved further to 89.2 percent as against 86 percent at end 2016.
The Bank’s total Assets at December 2017 stand at Rs988.829 billion as against Rs917.457 billion last year, while deposits improved to Rs. 653.406 billion from Rs. 640.944 billion. The Bank has a gross ADR at 63.8 percent at year end 2017, one of the highest amongst peers.

ISLAMABAD, Feb 26 (APP):Minister of State and Chairman Board of Investment Naeem Y. Zamindar, who is on a visit to Japan, stressed Japanese investors to exploit rising investment opportunities in Pakistan.
Addressing a special meeting of the Keidanren on emerging business and investment opportunities in Pakistan, Naeem Zamindar said that Pakistan’s location on the cusp of important economic regions, young population and skilled labour force supported by very rapidly growing technology infrastructure made Pakistan a very attractive destination for investment not only for domestic market but also as a production and export hub for rest of the world.
.Keidanren is the premier institution representing business and industry in Japan, a statement received here Monday
said.
Chair, Policy Sub-Committee, Committee on South Asia, Keidanren Kiyoshi Miyake, in his welcoming remarks thanked Zamindar for visiting the Keidanren and giving a special briefing on Pakistan’s economy and investment framework.
Speaking to the members of the committee on South Asia, Zamindar said that
with improved security and a sustained economic turn around Pakistan is open for business. Japan with its historical business, economic linkages and the high regard that it enjoyed in Pakistan was best placed to avail of the emerging potential and opportunities. Pakistan, he said, would welcome Japan’s investment and BOI would offer every facilitation.
The Chairman BOI noted that government was committed to make Pakistan a business friendly country. Foreign investment in Pakistan is protected by rigorous laws and FDI regulations allow full repatriation of capital and profits in almost all cases.
Pakistan is rich in agricultural and mineral raw material. This is now supported by fast penetration of access to technology. Number of mobile phone holders increased 100 times between 2003 to 2008 and number of bank account holders is expected to increase 8 times to 80% of eligible population in 3 years.
The business environment is also helped by vast improvement in security situation in last three years. He identified energy, solar panels, electronics, auto, textile, chemicals and plastics and potential areas for Japanese investors and said through facilitation and incentive measures including one window operation and Special Economic Zones Japanese companies will find Pakistan a hospitable investment destination.
Ambassador of Pakistan Asad M. Khan also spoke on the occasion and highlighted the renewed interest in both capitals to further deepen bilateral engagement duly captured by the convening of a number of dialogue processes and the visit of Foreign Minister of Japan Taro Konoto Islamabad last month.
He reiterated that Pakistan firmly believed that common adherence to the ideals of peace, democracy, freedom and rule of law and shared commitment to promoting peace and security and expanding and deepening bilateral trade, investment and development cooperation provided a strong basis for a comprehensive, sustainable and mutually beneficial partnership between Pakistan and Japan.
Miyake concluded the session with the hope for stronger economic relations between the two countries.
Earlier, Kinji Saito head of Suzuki Corporation operations, Hiroto Murai Chief Operating Officer Sojitz Corporation and Itabashi, Managing Director Innovation Network Corporation of Japan also called upon Zamindar and discussed their future investment plans in Pakistan. Zamindar also met Yumikura Global Head of Infrastructure and Environment Finance JBIC and discussed investment opportunities for Japanese companies in Pakistan