Pakistan’s Allied Bank Q3 profit rises 25pc

KARACHI — Allied Bank Ltd., Pakistan’s third- largest lender by market value, reported a 25 per cent increase in third-quarter profit because of higher income from investments and trading in shares.

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By (Bloomberg)

Published: Wed 24 Oct 2007, 8:57 AM

Last updated: Sat 4 Apr 2015, 11:29 PM

Net income rose to Rs1.39 billion ($23 million), or Rs2.60 a share, in the three months ended Sept. 30, from Rs1.12 billion, or Rs2.08, a year earlier, the Karachi-based lender said in a statement to the stock exchange today. Revenue rose to Rs3.81 billion, from Rs3.14 billion a year ago.

“Income from interest boosted profit,” said Abdul Azeem, research analyst at Invest Capital & Securities Ltd., in Karachi, who has a “sell” recommendation on the stock. “Income from trading in various financial instruments also raised profits.”

(Bloomberg)

Published: Wed 24 Oct 2007, 8:57 AM

Last updated: Sat 4 Apr 2015, 11:29 PM

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