Bank Alfalah Accounts 17% Profit Growth in First Quarter of 2018


Bank Alfalah Limited (BAFL) is one of those limited banks which has been able to maintain its stable benefit development, which expanded by 17% in the primary quarter of 2018.

As per budgetary outcomes, the bank recorded a benefit of Rs. 3.26 billion in the primary quarter of 2018 when contrasted with Rs. 2.78 billion benefits enrolled in a similar period a year ago.

The bank’s EPS expanded to Rs. 2.02 for each share from Rs. 1.74 before the finish of March 2018.

The bank witnessed development to its greatest advantage based revenues and non-advantage based revenues which remain at Rs. 7.84 billion and Rs. 2.86 at the time of January to March.

Shehzad Naqvi Appointed As Director at Bank Alfalah

Moreover, senior banker Shahzad Naqvi has been chosen as the executive of Bank Alfalah by its governing body in place of Khalid Qurashi who surrendered a month ago.

Shehzad Naqvi is a member of the Investment Committee at Karandaaz and in addition the executive of the Innovation Challenge Committee for State Bank of Pakistan. Mr. Naqvi is moreover on the Board of Directors for Advans Pakistan; is a partner in a funding firm by Eplanet Ventures; and has been related to numerous renowned financial organizations universally for past thirty years.

Naqvi has had a long-standing association with ABN Amro Bank and also Citibank. He initially joined ABN AMRO in 1993 as the nation head in Pakistan and was then designated head of Asia-Pacific Management and Structured Finance, situated in Hong Kong and Singapore. In 1996, he became a part of Citibank as Country Head in Singapore.

Moving back to Pakistan as Country Head in 1998, he was consequently delegated as Regional Head of Citibank’s worldwide corporate and investment banking tasks in the Gulf and Pakistan, situated in Dubai. In 2003 he proceeded to London to create outsourcing communities for Citibank’s European customer and commercial banking back-office needs. From 2005-2008, he filled in as President and Chief Executive of Crescent Commercial Bank in Pakistan.

He has moreover filled in as a Director on the Board of MasterCard International and as a Member of the National Advisory Council to the Prime Minister of Pakistan. He is a graduate in Economic Institutions and Planning from the London School of Economics. He became a part of the Engro Board in 2015.

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