Bank Alfalah: A Leading Financial Institution in Pakistan

Bank Alfalah is a leading financial institution in Pakistan, with a strong presence in the country's banking sector. It was founded in 1992 by the Abu Dhabi Group.

The bank offers a wide range of financial services, including consumer and corporate banking, Islamic banking, and asset management. Its consumer banking services include credit cards, loans, and deposit accounts.

Bank Alfalah has a large network of branches and ATMs across Pakistan, making it easily accessible to customers. It has a strong online presence as well, with a user-friendly website and mobile banking app.

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Bank Alfalah Initiatives have made a significant impact on the community. The bank's commitment to Corporate Social Responsibility (CSR) is evident in its numerous initiatives.

The Alfalah Gharidaar Program is a notable example, providing financial assistance to low-income families in need. This program has helped hundreds of families across the country.

Bank Alfalah's focus on financial inclusion has also led to the development of innovative products and services, such as Alfalah EasyPay. This service allows customers to make payments and transfers using their mobile phones.

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Bank Alfalah has partnered with WWF-Pakistan to protect the endangered Indus River blind dolphins, committing Rs8.5 million to the cause.

The partnership aims to safeguard dolphin habitats and raise awareness among local communities.

WWF-Pakistan will engage local communities by establishing five community-based organisations (CBOs).

The Indus River dolphin, also known as 'Bulhan', faces an alarming decline due to threats like habitat loss, entanglement in fishing nets, and pollution.

The partnership will train 35 fishers and establish 10 nature clubs to promote conservation efforts.

700 students will be empowered to become conservation champions, ensuring a brighter future for the Indus River blind dolphins.

This initiative aligns with Bank Alfalah's commitment to environmental sustainability and UN Sustainable Development Goals (SDGs) 11 and 14.

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Bank Alfalah is spearheading a technological transformation in Pakistan's banking landscape, with a focus on creating a dynamic, technology-driven future for banking while enhancing customer experiences.

The bank's President and CEO, Atif Aslam Bajwa, emphasizes the institution's commitment to innovation and customer-centricity. He shared his pride in Bank Alfalah's achievements, particularly its recognition at the Pakistan Banking Awards 2024.

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Bank Alfalah received two distinguished awards, including the 'Best Bank Digital in Excellence' award for the third consecutive year. This highlights the bank's relentless pursuit of empowering customers with secure, seamless, and technology-driven solutions.

The bank's innovation journey includes the launch of Pakistan's first digital, instant-processing Cheque Deposit Kiosk (CDK). This cutting-edge solution enables 24/7 real-time cheque clearing, significantly reducing manual transactions.

The CDK is expected to attract small businesses, complementing the bank's popular Cash Deposit Machines, which process over Rs 500 billion annually.

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Bank Alfalah has been resilient in the face of economic challenges, posting a profit after tax of Rs 10.743 billion for the quarter ended March 31, 2023.

The bank's earnings per share (EPS) stood at Rs 6.81, a strong reflection of its strategy in motion. The bank's market share increased for several of its products.

Bank Alfalah's deposit base grew by 31.9% year-on-year, closing at Rs. 1.554 trillion as at March 31, 2023. This significant increase in deposits has likely helped the bank to maintain a stable financial position.

The bank's loan book closed at Rs 731.863 billion, with a sufficient coverage of over 103% of its non-performing loans. This high coverage ratio indicates that the bank has been able to manage its risk effectively.

Bank Alfalah has a strong capital management system, which has enabled it to stay afloat despite the challenging economic environment. The bank remains optimistic about a return to economic stability in the medium term.