bank al-falah 5 year income statement, balance sheet and ratio analysis

Bank Alfalah LimitedSummarized Balance Sheet

As on December 31,

Discription 2004 2005 2006Assets 154,834,534 248,313,793 275,685,541

19,708,518 24,798,070 27,859,360 In Hand 3,469,670 4,440,047 4,857,105 local Currency 2,971,777 3,542,352 3,387,226 Foregn currency 497,893 897,695 1,469,879 With SBP in 15,581,012 17,639,651 19,335,349 Local currency Current Account 13,132,499 14,334,985 16,077,606 Foreign Currency Current Account 655,193 939,111 939,560 Forign Currency Deposit Account 1,793,320 2,365,555 2,318,183 With other central banks in - 1,376,234 2,501,514 Forigen currency current account - 285,085 1,515,185 Forigen currency deposit account - 1,091,149 986,329 With National Bhank of Pakistan In 657,836 1,332,693 1,151,358 Local Currency Current Account 657,836 1,332,693 1,151,358 National prize Bonds - 9,445 14,034 BALANCE WITH OTHER BANKS 3,183,957 9,713,369 12,731,952

177,174 1,339,130 3,646,779 On current account 127,174 134,125 258,503 On deposit account 50,000 1,205,005 3,388,276 Outside Pakistan 3,006,783 8,374,239 9,085,173 On current account 1,861,578 1,864,632 2,544,191 On deposit account 1,145,205 6,509,607 6,540,982

- 27,050,493 12,456,653 Call money lendings - 790,000 2,589,788

- 26,260,493 9,866,865 INVEST MENT S 35,503,196 57,416,255 56,502,210 Held By Bank 29,747,529 57,160,928 54,821,813 Available for sales securities 4,433,935 8,792,276 23,878,490 treasury Bills - 5,534,534 19,981,883

3,328,439 2,151,343 1,859,240 Fedral Investment Bonds 15,598 - -

512,034 597,738 615,886

- 76,979 129,821 Term finance sertifcates 362,043 326,423 1,291,660 Certifcates of Investments 205,168 105,259 - Prize Bonds 4,297 - - Swift Shares 631 - -

CASH AND BALANCE WITH TREASURY BANKS

In Pakistan

LENDINGS TO FINANCIAL INSTITUTIONS

Repurchase agreement lendings(Reverse repo)

pakistan investment Bonds

Fully paid up ordnary shares / units- listedFully paid up ordnary shares / units- un-listed

5,725 - - Sukuk Bonds - - - Held to maturity securities 23,680,447 45,625,635 28,034,404 Government Bonds 85,341 85,341 85,341 Pakistan investments bonds 8,534,837 9,635,243 8,085,321 treasury Bills 13,918,840 33,967,529 17,197,812 Term finance sertifcates 1,141,429 1,937,522 1,975,432 Pakistan Dollar bond - - - Credit linked note - - - Overseas bonds - - - Preference shares - - - Sukook Bonds - - 690,498 Held for trading securities 283,065 713,603 839,977 Treasury Bills - 276,775 -

283,065 436,828 839,977 Associates 1,138,176 1,948,804 2,586,464 Warid Telecom(pvt) ltd 1,138,176 1,848,804 2,000,000 Wateen Telecom(pvt) ltd - - 417,474 Alfalah Insurance ltd - - 68,990 Alfalah GHP value fund - 100,000 100,000

Alfalah GHP income multiplier fund - - - Alfalah GHP Islamic fund - - -

- - - Subsidiaries 75,600 109,600 132,000 Alfalah Securities (pvt) Ltd 42,000 76,000 76,000 Alfalah GHP Investment - - - Management Ltd 33,600 33,600 56,000 Investment Cost 29,611,223 57,189,918 55,471,335

- - - Investments (net or provisions) 29,611,223 57,189,918 55,471,335

138,471 20,998 (6,601)

(2,165) (49,988) (63,548)

- - (579,373) Given as Collateral 5,755,667 255,327 1,680,397 Available for sale security 877,420 - 1,681,213 Tresury Bills - - 1,681,213

877,420 - - Fedral Investment Bonds - - -

Fully paid up ordnary shares-Listed - - -

- - -

Share of Pakistan Export Finance Gurantee Agency Ltd

Fully paid up ordnary shares of Listed Companies

Alfalah GHP Investment management ltd

Less: Provision for diminution in value of investments

surplus/(Defecit) on revaluation of held on trading securitiesProvision for diminution in value of held for trading investment(Deficit) on revaluation of securities-associate


Fully paid up ordinary shares -unlisted

Term finance sertifcates - - - Certifcates of Investments - - - Prize Bonds - - - Swift Shares - - -

- - - Sukuk Bonds - - - Held to maturity securities 4,857,898 255,327 - Government Bonds - - - Pakistan investments bonds 1,598,129 255,327 - treasury Bills 3,259,769 - - Term finance sertifcates - - - Pakistan Dollar bond - - - Credit linked note - - - Overseas bonds - - - Preference shares - - - Sukook Bonds - - - Held for trading securities - - - Treasury bills - - -

- - - Associates - - - Warid Telecom(pvt) ltd - - - Wateen Telecom(pvt) ltd - - - Alfalah Insurance ltd - - - Alfalah GHP value fund - - -


- - - Subsidiaries - - - Alfalah Securities (pvt) Ltd - - - Alfalah GHP Investment - - - Management Ltd - - - Investment Cost 5,735,318 255,327 1,681,213

- - - Investments (net or provisions) 5,735,318 255,327 1,681,213

20,349 - -

- - (816)

- - - Total 35,503,196 57,416,255 56,502,210 Available for sales securities 5,311,355 8,792,276 25,559,703 treasury Bills - 5,534,534 21,663,096

4,205,859 2,151,343 1,859,240 Fedral Investment Bonds 15,598 - - Fully paid up ordnary shares 512,034 597,738 615,886


Fully paid up ordnary shares of listed companies



surplus/(Defecit) on revaluation of held on trading securitiesProvision for diminution in value of held for trading investment

(Deficit) on revaluation of securities-associate


Term finance sertifcates 362,043 326,423 1,291,660 Certifcates of Investments 205,168 105,259 - Prize Bonds 4,297 - - Swift Shares 631 - -

5,725 - - Held to maturity securities 28,538,345 45,880,962 28,034,404 Government Bonds 85,341 85,341 85,341 Pakistan investments bonds 10,132,966 9,890,570 8,085,321 treasury Bills 17,178,609 33,967,529 17,197,812 Term finance sertifcates 1,141,429 1,937,522 1,975,432 Pakistan Dollar bond - - - Credit linked note - - - Overseas bonds - - - Preference shares - - - Sukook Bonds - - 690,498 Held for trading securities 283,065 713,603 839,977

283,065 436,828 839,977 Associates 1,138,176 1,948,804 2,586,464 Warid Telecom(pvt) ltd 1,138,176 1,848,804 2,000,000 Wateen Telecom(pvt) ltd - - 417,474 Alfalah Insurance ltd - - 68,990 Alfalah GHP value fund - 100,000 100,000


- - - Subsidiaries 75,600 109,600 132,000 Alfalah Securities (pvt) Ltd 42,000 76,000 76,000 Alfalah GHP Investment - - - Management Ltd 33,600 33,600 56,000 Investment Cost 35,346,541 57,445,245 57,152,548

- - - Investments (net or provisions) 35,346,541 57,445,245 57,152,548

158,820 20,998 (6,601)

(2,165) (49,988) (64,364)

- - (579,373)ADVANCES 88,931,400 118,864,010 149,999,325

80,733,210 101,187,918 131,607,049 in Pakistan 80,733,210 99,826,193 128,054,207 Outside Pakistan - 1,361,725 3,552,842

6,374,637 12,158,131 14,289,817







Loans, cash credits, running finances, etc.

Net investment in Finance Lease/Ijarah financing

Payable in pakistan 6,374,637 12,158,131 14,289,817 Payable outside pakistan - - -

3,183,610 7,070,942 6,338,915 Payable in pakistan 1,647,111 2,222,723 1,687,954 Payable outside pakistan 1,536,499 4,848,219 4,650,961

(1,360,057) (1,552,981) (2,236,456)

- - - OTHER ASSETS 3,226,959 3,851,529 5,633,051

1,330,454 2,423,566 3,407,048

22,325 107,158 162,588

752,856 1,137,084 1,596,153 Advance taxation - 142,483 446,791 Dividend receiveable 413 60 943 Branch adjustment account 947,883 - -

29,994 26,095 25,002

Prepaid exchange risk fee 3,552 1,628 5,277 Stationery and samples on hands 32,032 49,258 66,771 Short term receivables 1,328 1,824 - Receivable against issue of rights - 400 160 Receivable from brokers 246,558 116,289 200,497 Others - - -

3,367,395 4,005,845 5,911,230

(9,619) (10,071) (9,674)

(130,817) (144,245) (268,505) OPERATING FIXED ASSETS 4,280,504 6,620,067 10,502,990 Capital work- in-progress 495,553 1,038,875 1,370,175 Property and equipment 3,752,322 5,551,517 9,093,909 Intangible assets 32,629 29,675 38,906

- - -

Liabilities 154,834,534 248,313,793 275,685,541 BILLS PAYABLE 2,233,671 3,733,124 3,091,135 in pakistan 2,233,671 3,458,499 3,059,519 Outside pakistan - 274,625 31,616

12,723,830 5,844,389 8,394,130 In pakistan 12,252,275 5,815,915 8,286,053 outside pakistan 471,555 28,474 108,077

Bills discounted and purchased(excluding treasury bills)

provisions for non-performing advancesGeneral provision against consumer financings

Income/ Mark-up accrued in local currencyIncome/ Mark-up accrued in foreign currencyAdvances, deposits, advance rent and other payments

Unrealised gain on forward foreign exchange contractsAsset accuired in satisfaction of claims

Less: Provision held against other assets Less: Markup held in suspense account

Deferred tax assets

BORROWINGS FROMFINANCIAL INSTITUTION

129,714,891 222,345,067 239,509,391 CustomerFixed deposits 21,892,081 80,167,779 88,851,222 Saving deposits 65,965,795 81,057,975 78,893,481 Current accounts- Remunerative - - -

36,213,567 45,814,316 58,234,013 Margin, call and sundry deposits 2,123,779 3,509,310 3,616,936

126,195,222 210,549,380 229,595,652 Financial InstitutionsRemunerative deposits 3,503,281 11,760,879 9,892,433 Non-remunerative deposits 16,388 34,808 21,306

3,519,669 11,795,687 9,913,739 SUB-ORDINATED LOANS 1,899,480 3,223,355 3,222,106

649,480 649,220 648,960

1,250,000 1,249,520 1,249,040

- 1,324,615 1,324,106

- - - OTHER LIABILITIES 2,725,344 5,219,666 7,305,496

701,230 1,783,284 2,733,874

37,154 97,558 205,197

88,495 118,326 119,971 Accrued expanses 280,216 138,381 158,506 Current taxtion - - -

- 102,793 136,224 Branch adjustment account - 344,186 296,512 Taxtion 79,255 - - Lease security deposit 997,677 2,302,841 3,318,786 Payable to defined benefit plan - - -

6,693 13,099 8 Payable to brokers 384,043 98,959 49,162

- - -

- - - Workers welfare fund - - - Others 150,581 220,239 287,256 DEFERRED TAX LIABILITIES (275,834) (484,066) (1,921,338)

DEPOSITS AND OTHER ACCOUNTS

Current accounts- Non-remunerative

Term Finance Certificates I - Quoted, UnsecuredTerm Finance Certificates II - Quoted, UnsecuredTerm Finance Certificates III - Quoted, Unsecured

LIABILITIES AGAINST ASSETS SUBJECT TO FINANCE LEASE

Mark-up/ return/intrest payable in local currencyMark-up/ return/intrest payable in foreign currencyUnearned commition and incom on bills discounted

Payable against redemption of credit card reward point

Exchange difference payable to SBP

Unrealised loss on forward exchange contractsProvision against off-balance sheet obligations

Provision for doubtful debts 729,330 883,798 1,187,667

21,720 - - Deficit on revaluation of assets - 18,803 213,257 Licence fee charged off 14,053 13,475 -

- - -

- - -

- - -

Deficit on revaluation of securities - - - 765,103 916,076 1,400,924

(450401) (563,178) (688974) Leasing operations (119135) (356,921) (665463)

- (72,414) (837272)

- - - Accelerated tax deprecation - - -

(422,874) (407,629) (1130553)

(48,527) - - (1,040,937) (1,400,142) (3,322,262) 149,573,050 240,849,667 263,443,596

NET ASSETS 5,261,484 7,464,126 12,241,945 REPRESENTED BY:SHARE CAPITAL 2,500,000 3,000,000 5,000,000 Authorised Capital

4,000,000 4,000,000 8,000,000

Issued, subscribed and paid up

750,000 750,000 2,250,000

1,750,000 1,750,000 2,750,000

Deferred debits arising in respect of:

Excess of tax WDV over accounting WDV of Fixed assets

Provisions against off balance sheet obligationsProvisions for diminution in value of investment

Unrealised loss on revaluation of investments classified as held for trading / transferred from held for trading to available for sale

Deferrd credit arising in respect of:Write offs/ reversals of provision for bad debts

Excess of accounting net book value over tax written down value of fixed assetsDifference between accounting book value of leased asset and lease liabilities

Surplus on revaluation of fixed assetSurplus on revaluation of securities

400,000,000 Ordinary shares of Rs 10 each

75,000,000 Ordinary shares of Rs10 each fully paid in cash175,000,000 Bonus Shares issued during the year

- 500,000 - RESERVES 1,008,772 2,351,218 2,749,533 UNAPPROPRIATED PROFIT 860,300 1,386,845 2,823,072

4,369,072 6,738,063 10,572,605

892,412 726,063 1,669,340

782,118 757,248 2,099,820

110,294 (31,185) (53,887)

- - (376,593)

50,000,000 Right shares issued during the year

SURPLUS ON REVALUATION OF ASSETSSurplus arising on revaluation of fixed assetsSurplus arising on revaluation of SecuritiesSurplus arising on revaluation of investment in associate

Bank Alfalah Limited Bank Alfalah LimitedSummarized Balance Sheet Comparative Chain Base Balance Sheet

As on December 31, As on December 31,

2007 2008 Discription 328,895,152 348,990,764 Assets

29,436,378 32,687,335 6,635,122 9,334,859 In Hand 4,797,473 6,335,731 local Currency 1,837,649 2,999,128 Foregn currency 18,532,830 16,397,350 With SBP in 16,566,799 11,392,141 Local currency Current Account 1,036,674 1,399,973 Foreign Currency Current Account 929,357 3,605,236 Forign Currency Deposit Account 2,923,250 4,349,234 With other central banks in 1,413,622 2,108,534 Forigen currency current account 1,509,628 2,240,700 Forigen currency deposit account 1,323,806 2,590,762 With National Bhank of Pakistan In 1,323,806 2,590,762 Local Currency Current Account 21,370 15,130 National prize Bonds 18,380,738 21,581,043 BALANCE WITH OTHER BANKS 2,202,233 4,458,491 422,132 604,204 On current account 1,780,101 3,854,287 On deposit account 16,178,505 17,122,552 Outside Pakistan 3,262,949 8,161,367 On current account 12,915,556 8,961,185 On deposit account

3,452,059 3,315,500 997,582 3,315,500 Call money lendings

2,454,477 - 88,491,564 75,973,238 INVEST MENT S 73,783,080 71,115,890 Held By Bank 36,632,045 33,701,492 Available for sales securities 32,763,607 25,350,662 treasury Bills 375,592 458,280 - - Fedral Investment Bonds

2,289,220 4,274,461

129,821 129,821 1,073,805 1,388,391 Term finance sertifcates - - Certifcates of Investments - - Prize Bonds - - Swift Shares


In Pakistan





- - - 2,099,877 Sukuk Bonds 32,370,246 33,076,039 Held to maturity securities 85,341 85,341 Government Bonds 6,855,500 5,220,710 Pakistan investments bonds 21,453,797 13,991,810 treasury Bills 1,413,401 9,102,204 Term finance sertifcates - 357,199 Pakistan Dollar bond - 395,492 Credit linked note - 57,339 Overseas bonds - 303,894 Preference shares 2,562,207 3,562,050 Sukook Bonds 550,932 10,200 Held for trading securities - - Treasury Bills

550,932 10,200 4,196,535 5,883,753 Associates 2,679,578 4,366,796 Warid Telecom(pvt) ltd 417,474 417,474 Wateen Telecom(pvt) ltd 68,990 68,990 Alfalah Insurance ltd 100,000 100,000 Alfalah GHP value fund

550,000 550,000 Alfalah GHP income multiplier fund 250,000 250,000 Alfalah GHP Islamic fund

130,493 130,493 76,000 76,000 Subsidiaries 76,000 76,000 Alfalah Securities (pvt) Ltd - - Alfalah GHP Investment - - Management Ltd 73,825,758 72,747,484 Investment Cost

- (1,479,062) 73,825,758 71,268,422 Investments (net or provisions)

(21,530) 1,068

(21,148) (153,600)

- - 14,708,484 4,857,348 Given as Collateral 14,742,700 4,907,993 Available for sale security 14,683,909 4,848,492 Tresury Bills 58,791 59,501 - - Fedral Investment Bonds

- - Fully paid up ordnary shares-Listed

- -








- - Term finance sertifcates - - Certifcates of Investments - - Prize Bonds - - Swift Shares

- - - - Sukuk Bonds - - Held to maturity securities - - Government Bonds - - Pakistan investments bonds - - treasury Bills - - Term finance sertifcates - - Pakistan Dollar bond - - Credit linked note - - Overseas bonds - - Preference shares - - Sukook Bonds - - Held for trading securities - - Treasury bills - - - - Associates - - Warid Telecom(pvt) ltd - - Wateen Telecom(pvt) ltd - - Alfalah Insurance ltd - - Alfalah GHP value fund

- - Alfalah GHP income multiplier fund - - Alfalah GHP Islamic fund

- - - - Subsidiaries - - Alfalah Securities (pvt) Ltd - - Alfalah GHP Investment - - Management Ltd 14,742,700 4,907,993 Investment Cost

- - 14,742,700 4,907,993 Investments (net or provisions)

- -

(34,216) (50,645)

- - 88,491,564 75,973,238 Total 51,374,745 38,609,485 Available for sales securities 47,447,516 30,199,154 treasury Bills 434,383 517,781 - - Fedral Investment Bonds 2,289,220 4,274,461 Fully paid up ordnary shares








1,073,805 1,388,391 Term finance sertifcates - - Certifcates of Investments - - Prize Bonds - - Swift Shares

- - 32,370,246 33,076,039 Held to maturity securities 85,341 85,341 Government Bonds 6,855,500 5,220,710 Pakistan investments bonds 21,453,797 13,991,810 treasury Bills 1,413,401 9,102,204 Term finance sertifcates - 357,199 Pakistan Dollar bond - 395,492 Credit linked note - 57,339 Overseas bonds - 303,894 Preference shares 2,562,207 3,562,050 Sukook Bonds 550,932 10,200 Held for trading securities

550,932 10,200 4,196,535 5,883,753 Associates 2,679,578 4,366,796 Warid Telecom(pvt) ltd 417,474 417,474 Wateen Telecom(pvt) ltd 68,990 68,990 Alfalah Insurance ltd 100,000 100,000 Alfalah GHP value fund

550,000 550,000 Alfalah GHP income multiplier fund 250,000 250,000 Alfalah GHP Islamic fund

130,493 130,493 76,000 76,000 Subsidiaries 76,000 76,000 Alfalah Securities (pvt) Ltd - - Alfalah GHP Investment - - Management Ltd 88,568,458 77,655,477 Investment Cost

- (1,479,062) 88,568,458 76,176,415 Investments (net or provisions)

(21,530) 1,068

(55,364) (204,245)

- - 171,198,992 192,671,169 ADVANCES

152,706,236 179,066,461 145,107,469 169,059,162 in Pakistan 7,598,767 10,007,299 Outside Pakistan

15,824,501 14,118,406









15,824,501 14,118,406 Payable in pakistan - - Payable outside pakistan

7,148,073 5,626,985 1,579,472 1,092,683 Payable in pakistan 5,568,601 4,534,302 Payable outside pakistan

(3,380,409) (5,055,598)

(1,099,409) (1,085,085) 6,013,097 8,989,186 OTHER ASSETS

4,058,539 7,309,047

368,151 302,222

2,080,789 2,509,701 - - Advance taxation 8,464 11,169 Dividend receiveable 32,919 - Branch adjustment account

26,506 -

48,884 23,146 2,111 2,290 Prepaid exchange risk fee 70,926 81,333 Stationery and samples on hands - - Short term receivables - - Receivable against issue of rights 27 6 Receivable from brokers - - Others 6,697,316 10,238,914

(9,674) (9,674)

(674,545) (1,240,054) 11,922,324 13,773,293 OPERATING FIXED ASSETS 1,742,554 2,417,954 Capital work- in-progress 10,063,094 11,137,408 Property and equipment 116,676 217,931 Intangible assets - -

328,895,152 348,990,764 Liabilities 4,138,243 3,452,031 BILLS PAYABLE 4,090,688 3,228,056 in pakistan 47,555 223,975 Outside pakistan

21,230,697 13,690,222 20,602,695 13,004,055 In pakistan 628,002 686,167 outside pakistan






Deferred tax assets


273,173,841 300,732,858 Customer

85,520,839 116,688,618 Fixed deposits 107,879,576 86,416,689 Saving deposits - - Current accounts- Remunerative

67,604,689 78,316,246 3,267,104 7,715,468 Margin, call and sundry deposits 264,272,208 289,137,021

Financial Institutions 8,759,047 11,570,748 Remunerative deposits 142,586 25,089 Non-remunerative deposits 8,901,633 11,595,837 3,220,858 2,571,169 SUB-ORDINATED LOANS

648,700 -

1,248,560 1,248,080

1,323,598 1,323,089

- - 9,531,860 11,291,280 OTHER LIABILITIES

3,130,081 4,103,569

371,360 360,133

147,231 151,561 388,155 431,803 Accrued expanses 760,873 1,057,727 Current taxtion

177,557 199,409 - 14,028 Branch adjustment account - - Taxtion 4,189,049 4,321,506 Lease security deposit - - Payable to defined benefit plan

34,840 45,246 1,011 19 Payable to brokers

- 180,845

6,959 38,142 - 106,621 Workers welfare fund 324,744 280,671 Others 1,379,809 208,465 DEFERRED TAX LIABILITIES









(1,222,335) (1,802,452) Provision for doubtful debts

- - - - Deficit on revaluation of assets - - Licence fee charged off

- (4,969)

- (517,703)

- (63,550)

(28,300) (71,488) Deficit on revaluation of securities (1,250,635) (2,460,162)

- - - - Leasing operations

- -

935,251 778,188 982,878 1,304,686 Accelerated tax deprecation

712,315 585,753

- - 2,630,444 2,668,627 312,675,308 331,946,025 16,219,844 17,044,739 NET ASSETS

REPRESENTED BY: 6,500,000 7,995,000 SHARE CAPITAL

Authorised Capital

8,000,000 1,500,000,000

Issued, subscribed and paid up

2,250,000 2,250,000

4,250,000 5,745,000










- - 2,414,833 3,166,056 RESERVES 4,851,840 3,447,467 UNAPPROPRIATED PROFIT 13,766,673 14,608,523

2,453,171 2,436,216

2,480,235 2,568,973

(27,064) (132,757)

- -



Bank Alfalah LimitedComparative Chain Base Balance Sheet

As on December 31,

2005 2006 2007 2008 93,479,259 27,371,748 53,209,611 20,095,612

5,089,552 3,061,290 1,577,018 3,250,957 970,377 417,058 1,778,017 2,699,737 570,575 (155,126) 1,410,247 1,538,258 399,802 572,184 367,770 1,161,479 2,058,639 1,695,698 (802,519) (2,135,480) 1,202,486 1,742,621 489,193 (5,174,658) 283,918 449 97,114 363,299 572,235 (47,372) (1,388,826) 2,675,879 1,376,234 1,125,280 421,736 1,425,984 285,085 1,230,100 (101,563) 694,912 1,091,149 (104,820) 523,299 731,072 674,857 (181,335) 172,448 1,266,956 674,857 (181,335) 172,448 1,266,956 9,445 4,589 7,336 (6,240) 6,529,412 3,018,583 5,648,786 3,200,305 1,161,956 2,307,649 (1,444,546) 2,256,258 6,951 124,378 163,629 182,072 1,155,005 2,183,271 (1,608,175) 2,074,186 5,367,456 710,934 7,093,332 944,047 3,054 679,559 718,758 4,898,418 5,364,402 31,375 6,374,574 (3,954,371)

27,050,493 (14,593,840) (9,004,594) (136,559) 790,000 1,799,788 (1,592,206) 2,317,918

26,260,493 (16,393,628) (7,412,388) (2,454,477) 21,913,059 (914,045) 31,989,354 (12,518,326) 27,413,399 (2,339,115) 18,961,267 (2,667,190) 4,358,341 15,086,214 12,753,555 (2,930,553) 5,534,534 14,447,349 12,781,724 (7,412,945) (1,177,096) (292,103) (1,483,648) 82,688 (15,598) - - -

85,704 18,148 1,673,334 1,985,241

76,979 52,842 - - (35,620) 965,237 (217,855) 314,586 (99,909) (105,259) - - (4,297) - - - (631) - - -

(5,725) - - - - - - 2,099,877 21,945,188 (17,591,231) 4,335,842 705,793 - - - - 1,100,406 (1,549,922) (1,229,821) (1,634,790) 20,048,689 (16,769,717) 4,255,985 (7,461,987) 796,093 37,910 (562,031) 7,688,803 - - - 357,199 - - - 395,492 - - - 57,339 - - - 303,894 - 690,498 1,871,709 999,843 430,538 126,374 (289,045) (540,732) 276,775 (276,775) - -

153,763 403,149 (289,045) (540,732) 810,628 637,660 1,610,071 1,687,218 710,628 151,196 679,578 1,687,218 - 417,474 - - - 68,990 - - 100,000 - - -

- - 550,000 - - - 250,000 -

- - 130,493 - 34,000 22,400 (56,000) - 34,000 - - - - - - - - 22,400 (56,000) - 27,578,695 (1,718,583) 18,354,423 (1,078,274)

- - - (1,479,062) 27,578,695 (1,718,583) 18,354,423 (2,557,336)

(117,473) (27,599) (14,929) 22,598

(47,823) (13,560) 42,400 (132,452)

- (579,373) 579,373 - (5,500,340) 1,425,070 13,028,087 (9,851,136) (877,420) 1,681,213 13,061,487 (9,834,707) - 1,681,213 13,002,696 (9,835,417) (877,420) - 58,791 710 - - - -

- - - -

- - - -

- - - - - - - - - - - - - - - -

- - - - - - - - (4,602,571) (255,327) - - - - - - (1,342,802) (255,327) - - (3,259,769) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - -

- - - - - - - - - - - - - - - - - - - - (5,479,991) 1,425,886 13,061,487 (9,834,707)

- - - - (5,479,991) 1,425,886 13,061,487 (9,834,707)

(20,349) - - -

- (816) (33,400) (16,429)

- - - - 21,913,059 (914,045) 31,989,354 (12,518,326) 3,480,921 16,767,427 25,815,042 (12,765,260) 5,534,534 16,128,562 25,784,420 (17,248,362) (2,054,516) (292,103) (1,424,857) 83,398 (15,598) - - - 85,704 18,148 1,673,334 1,985,241

(35,620) 965,237 (217,855) 314,586 (99,909) (105,259) - - (4,297) - - - (631) - - -

(5,725) - - - 17,342,617 (17,846,558) 4,335,842 705,793 - - - - (242,396) (1,805,249) (1,229,821) (1,634,790) 16,788,920 (16,769,717) 4,255,985 (7,461,987) 796,093 37,910 (562,031) 7,688,803 - - - 357,199 - - - 395,492 - - - 57,339 - - - 303,894 - 690,498 1,871,709 999,843 430,538 126,374 (289,045) (540,732)

153,763 403,149 (289,045) (540,732) 810,628 637,660 1,610,071 1,687,218 710,628 151,196 679,578 1,687,218 - 417,474 - - - 68,990 - - 100,000 - - -

- - 550,000 - - - 250,000 -

- - 130,493 - 34,000 22,400 (56,000) - 34,000 - - - - - - - - 22,400 (56,000) - 22,098,704 (292,697) 31,415,910 (10,912,981)

- - - (1,479,062) 22,098,704 (292,697) 31,415,910 (12,392,043)

(137,822) (27,599) (14,929) 22,598

(47,823) (14,376) 9,000 (148,881)

- (579,373) 579,373 - 29,932,610 31,135,315 21,199,667 21,472,177

20,454,708 30,419,131 21,099,187 26,360,225 19,092,983 28,228,014 17,053,262 23,951,693 1,361,725 2,191,117 4,045,925 2,408,532

5,783,494 2,131,686 1,534,684 (1,706,095)

5,783,494 2,131,686 1,534,684 (1,706,095) - - - -

3,887,332 (732,027) 809,158 (1,521,088) 575,612 (534,769) (108,482) (486,789) 3,311,720 (197,258) 917,640 (1,034,299)

(192,924) (683,475) (1,143,953) (1,675,189)

- - (1,099,409) 14,324 624,570 1,781,522 380,046 2,976,089

1,093,112 983,482 651,491 3,250,508

84,833 55,430 205,563 (65,929)

384,228 459,069 484,636 428,912 142,483 304,308 (446,791) - (353) 883 7,521 2,705 (947,883) - 32,919 (32,919)

(3,899) (1,093) 1,504 (26,506)

- - 48,884 (25,738) (1,924) 3,649 (3,166) 179 17,226 17,513 4,155 10,407 496 (1,824) - - 400 (240) (160) - (130,269) 84,208 (200,470) (21) - - - - 638,450 1,905,385 786,086 3,541,598

(452) 397 - -

(13,428) (124,260) (406,040) (565,509) 2,339,563 3,882,923 1,419,334 1,850,969 543,322 331,300 372,379 675,400 1,799,195 3,542,392 969,185 1,074,314 (2,954) 9,231 77,770 101,255 - - - -

93,479,259 27,371,748 53,209,611 20,095,612 1,499,453 (641,989) 1,047,108 (686,212) 1,224,828 (398,980) 1,031,169 (862,632) 274,625 (243,009) 15,939 176,420

(6,879,441) 2,549,741 12,836,567 (7,540,475) (6,436,360) 2,470,138 12,316,642 (7,598,640) (443,081) 79,603 519,925 58,165

92,630,176 17,164,324 33,664,450 27,559,017 - - - - 58,275,698 8,683,443 (3,330,383) 31,167,779 15,092,180 (2,164,494) 28,986,095 (21,462,887) - - - -

9,600,749 12,419,697 9,370,676 10,711,557 1,385,531 107,626 (349,832) 4,448,364 84,354,158 19,046,272 34,676,556 24,864,813 - - - - 8,257,598 (1,868,446) (1,133,386) 2,811,701 18,420 (13,502) 121,280 (117,497) 8,276,018 (1,881,948) (1,012,106) 2,694,204 1,323,875 (1,249) (1,248) (649,689)

(260) (260) (260) (648,700)

(480) (480) (480) (480)

1,324,615 (509) (508) (509)

- - - - 2,494,322 2,085,830 2,226,364 1,759,420

1,082,054 950,590 396,207 973,488

60,404 107,639 166,163 (11,227)

29,831 1,645 27,260 4,330 (141,835) 20,125 229,649 43,648 - - 760,873 296,854

102,793 33,431 41,333 21,852 344,186 (47,674) (296,512) 14,028 (79,255) - - - 1,305,164 1,015,945 870,263 132,457 - - - -

6,406 (13,091) 34,832 10,406 (285,084) (49,797) (48,151) (992)

- - - 180,845

- - 6,959 31,183 - - - 106,621 69,658 67,017 37,488 (44,073) (208,232) (1,437,272) 3,301,147 (1,171,344)

- - - - 154,468 303,869 (2,410,002) (580,117)

(21,720) - - - 18,803 194,454 (213,257) - (578) (13,475) - -

- - - (4,969)

- - - (517,703)

- - - (63,550)

- - (28,300) (43,188) 150,973 484,848 (2,651,559) (1,209,527)

- - - -

(112,777) (125,796) 688,974 - (237,786) (308,542) 665,463 -

(72,414) (764,858) 837,272 -

- - 935,251 (157,063) - - 982,878 321,808

15,245 (722,924) 1,842,868 (126,562)

48,527 - - - (359,205) (1,922,120) 5,952,706 38,183 91,276,617 22,593,929 49,231,712 19,270,717 2,202,642 4,777,819 3,977,899 824,895 - - - - 500,000 2,000,000 1,500,000 1,495,000 - - - -

- 4,000,000 - 1,492,000,000

- - - -

- 1,500,000 - -

- 1,000,000 1,500,000 1,495,000

500,000 (500,000) - - 1,342,446 398,315 (334,700) 751,223 526,545 1,436,227 2,028,768 (1,404,373) 2,368,991 3,834,542 3,194,068 841,850

(166,349) 943,277 783,831 (16,955)

(24,870) 1,342,572 380,415 88,738

(141,479) (22,702) 26,823 (105,693)

- (376,593) 376,593 -

Bank Alfalah LimitedPercentage Comparative Chain Base Balance Sheet

As on December 31,

Discription 2005 2006 2007 2008Assets 60.37% 11.02% 19.30% 6.11%

25.82% 12.34% 5.66% 11.04%In Hand 27.97% 9.39% 36.61% 40.69%local Currency 19.20% -4.38% 41.63% 32.06%Foregn currency 80.30% 63.74% 25.02% 63.20%With SBP in 13.21% 9.61% -4.15% -11.52%Local currency Current Account 9.16% 12.16% 3.04% -31.24%Foreign Currency Current Account 43.33% 0.05% 10.34% 35.04%Forign Currency Deposit Account 31.91% -2.00% -59.91% 287.93%With other central banks in #DIV/0! 81.77% 16.86% 48.78%Forigen currency current account #DIV/0! 431.49% -6.70% 49.16%Forigen currency deposit account #DIV/0! -9.61% 53.06% 48.43%With National Bhank of Pakistan In 102.59% -13.61% 14.98% 95.71%Local Currency Current Account 102.59% -13.61% 14.98% 95.71%National prize Bonds #DIV/0! 48.59% 52.27% -29.20%BALANCE WITH OTHER BANKS 205.07% 31.08% 44.37% 17.41%

655.83% 172.32% -39.61% 102.45%On current account 5.47% 92.73% 63.30% 43.13%On deposit account 2310.01% 181.18% -47.46% 116.52%Outside Pakistan 178.51% 8.49% 78.08% 5.84%On current account 0.16% 36.44% 28.25% 150.12%On deposit account 468.42% 0.48% 97.46% -30.62%

#DIV/0! -53.95% -72.29% -3.96%Call money lendings #DIV/0! 227.82% -61.48% 232.35%

#DIV/0! -62.43% -75.12% -100.00%INVEST MENT S 61.72% -1.59% 56.62% -14.15%Held By Bank 92.15% -4.09% 34.59% -3.61%Available for sales securities 98.30% 171.58% 53.41% -8.00%treasury Bills #DIV/0! 261.04% 63.97% -22.63%

-35.36% -13.58% -79.80% 22.02%Fedral Investment Bonds -100.00% #DIV/0! #DIV/0! #DIV/0!

16.74% 3.04% 271.70% 86.72%

#DIV/0! 68.64% 0.00% 0.00%Term finance sertifcates -9.84% 295.70% -16.87% 29.30%Certifcates of Investments -48.70% -100.00% #DIV/0! #DIV/0!Prize Bonds -100.00% #DIV/0! #DIV/0! #DIV/0!Swift Shares -100.00% #DIV/0! #DIV/0! #DIV/0!


In Pakistan





-100.00% #DIV/0! #DIV/0! #DIV/0!Sukuk Bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Held to maturity securities 92.67% -38.56% 15.47% 2.18%Government Bonds 0.00% 0.00% 0.00% 0.00%Pakistan investments bonds 12.89% -16.09% -15.21% -23.85%treasury Bills 144.04% -49.37% 24.75% -34.78%Term finance sertifcates 69.75% 1.96% -28.45% 543.99%Pakistan Dollar bond #DIV/0! #DIV/0! #DIV/0! #DIV/0!Credit linked note #DIV/0! #DIV/0! #DIV/0! #DIV/0!Overseas bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Preference shares #DIV/0! #DIV/0! #DIV/0! #DIV/0!Sukook Bonds #DIV/0! #DIV/0! 271.07% 39.02%Held for trading securities 152.10% 17.71% -34.41% -98.15%Treasury Bills #DIV/0! -100.00% #DIV/0! #DIV/0!

54.32% 92.29% -34.41% -98.15%Associates 71.22% 32.72% 62.25% 40.21%Warid Telecom(pvt) ltd 62.44% 8.18% 33.98% 62.97%Wateen Telecom(pvt) ltd #DIV/0! #DIV/0! 0.00% 0.00%Alfalah Insurance ltd #DIV/0! #DIV/0! 0.00% 0.00%Alfalah GHP value fund #DIV/0! 0.00% 0.00% 0.00%

Alfalah GHP income multiplier fund #DIV/0! #DIV/0! #DIV/0! 0.00%Alfalah GHP Islamic fund #DIV/0! #DIV/0! #DIV/0! 0.00%

#DIV/0! #DIV/0! #DIV/0! 0.00%Subsidiaries 44.97% 20.44% -42.42% 0.00%Alfalah Securities (pvt) Ltd 80.95% 0.00% 0.00% 0.00%Alfalah GHP Investment #DIV/0! #DIV/0! #DIV/0! #DIV/0!Management Ltd 0.00% 66.67% -100.00% #DIV/0!Investment Cost 93.14% -3.01% 33.09% -1.46%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Investments (net or provisions) 93.14% -3.01% 33.09% -3.46%

-84.84% -131.44% 226.16% -104.96%

2208.91% 27.13% -66.72% 626.31%

#DIV/0! #DIV/0! -100.00% #DIV/0!Given as Collateral -95.56% 558.14% 775.30% -66.98%Available for sale security -100.00% #DIV/0! 776.91% -66.71%Tresury Bills #DIV/0! #DIV/0! 773.41% -66.98%

-100.00% #DIV/0! #DIV/0! 1.21%Fedral Investment Bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Fully paid up ordnary shares-Listed #DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!








Term finance sertifcates #DIV/0! #DIV/0! #DIV/0! #DIV/0!Certifcates of Investments #DIV/0! #DIV/0! #DIV/0! #DIV/0!Prize Bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Swift Shares #DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Sukuk Bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Held to maturity securities -94.74% -100.00% #DIV/0! #DIV/0!Government Bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Pakistan investments bonds -84.02% -100.00% #DIV/0! #DIV/0!treasury Bills -100.00% #DIV/0! #DIV/0! #DIV/0!Term finance sertifcates #DIV/0! #DIV/0! #DIV/0! #DIV/0!Pakistan Dollar bond #DIV/0! #DIV/0! #DIV/0! #DIV/0!Credit linked note #DIV/0! #DIV/0! #DIV/0! #DIV/0!Overseas bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Preference shares #DIV/0! #DIV/0! #DIV/0! #DIV/0!Sukook Bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Held for trading securities #DIV/0! #DIV/0! #DIV/0! #DIV/0!Treasury bills #DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Associates #DIV/0! #DIV/0! #DIV/0! #DIV/0!Warid Telecom(pvt) ltd #DIV/0! #DIV/0! #DIV/0! #DIV/0!Wateen Telecom(pvt) ltd #DIV/0! #DIV/0! #DIV/0! #DIV/0!Alfalah Insurance ltd #DIV/0! #DIV/0! #DIV/0! #DIV/0!Alfalah GHP value fund #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Alfalah GHP income multiplier fund #DIV/0! #DIV/0! #DIV/0! #DIV/0!Alfalah GHP Islamic fund #DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Subsidiaries #DIV/0! #DIV/0! #DIV/0! #DIV/0!Alfalah Securities (pvt) Ltd #DIV/0! #DIV/0! #DIV/0! #DIV/0!Alfalah GHP Investment #DIV/0! #DIV/0! #DIV/0! #DIV/0!Management Ltd #DIV/0! #DIV/0! #DIV/0! #DIV/0!Investment Cost -95.55% 558.45% 776.91% -66.71%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Investments (net or provisions) -95.55% 558.45% 776.91% -66.71%

-100.00% #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! 4093.14% 48.02%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Total 61.72% -1.59% 56.62% -14.15%Available for sales securities 65.54% 190.71% 101.00% -24.85%treasury Bills #DIV/0! 291.42% 119.02% -36.35%

-48.85% -13.58% -76.64% 19.20%Fedral Investment Bonds -100.00% #DIV/0! #DIV/0! #DIV/0!Fully paid up ordnary shares 16.74% 3.04% 271.70% 86.72%








Term finance sertifcates -9.84% 295.70% -16.87% 29.30%Certifcates of Investments -48.70% -100.00% #DIV/0! #DIV/0!Prize Bonds -100.00% #DIV/0! #DIV/0! #DIV/0!Swift Shares -100.00% #DIV/0! #DIV/0! #DIV/0!

-100.00% #DIV/0! #DIV/0! #DIV/0!Held to maturity securities 60.77% -38.90% 15.47% 2.18%Government Bonds 0.00% 0.00% 0.00% 0.00%Pakistan investments bonds -2.39% -18.25% -15.21% -23.85%treasury Bills 97.73% -49.37% 24.75% -34.78%Term finance sertifcates 69.75% 1.96% -28.45% 543.99%Pakistan Dollar bond #DIV/0! #DIV/0! #DIV/0! #DIV/0!Credit linked note #DIV/0! #DIV/0! #DIV/0! #DIV/0!Overseas bonds #DIV/0! #DIV/0! #DIV/0! #DIV/0!Preference shares #DIV/0! #DIV/0! #DIV/0! #DIV/0!Sukook Bonds #DIV/0! #DIV/0! 271.07% 39.02%Held for trading securities 152.10% 17.71% -34.41% -98.15%

54.32% 92.29% -34.41% -98.15%Associates 71.22% 32.72% 62.25% 40.21%Warid Telecom(pvt) ltd 62.44% 8.18% 33.98% 62.97%Wateen Telecom(pvt) ltd #DIV/0! #DIV/0! 0.00% 0.00%Alfalah Insurance ltd #DIV/0! #DIV/0! 0.00% 0.00%Alfalah GHP value fund #DIV/0! 0.00% 0.00% 0.00%

Alfalah GHP income multiplier fund #DIV/0! #DIV/0! #DIV/0! 0.00%Alfalah GHP Islamic fund #DIV/0! #DIV/0! #DIV/0! 0.00%

#DIV/0! #DIV/0! #DIV/0! 0.00%Subsidiaries 44.97% 20.44% -42.42% 0.00%Alfalah Securities (pvt) Ltd 80.95% 0.00% 0.00% 0.00%Alfalah GHP Investment #DIV/0! #DIV/0! #DIV/0! #DIV/0! Management Ltd 0.00% 66.67% -100.00% #DIV/0!Investment Cost 62.52% -0.51% 54.97% -12.32%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Investments (net or provisions) 62.52% -0.51% 54.97% -13.99%

-86.78% -131.44% 226.16% -104.96%

2208.91% 28.76% -13.98% 268.91%

#DIV/0! #DIV/0! -100.00% #DIV/0!ADVANCES 33.66% 26.19% 14.13% 12.54%

25.34% 30.06% 16.03% 17.26%in Pakistan 23.65% 28.28% 13.32% 16.51%Outside Pakistan #DIV/0! 160.91% 113.88% 31.70%

90.73% 17.53% 10.74% -10.78%









Payable in pakistan 90.73% 17.53% 10.74% -10.78%Payable outside pakistan #DIV/0! #DIV/0! #DIV/0! #DIV/0!

122.10% -10.35% 12.76% -21.28%Payable in pakistan 34.95% -24.06% -6.43% -30.82%Payable outside pakistan 215.54% -4.07% 19.73% -18.57%

14.18% 44.01% 51.15% 49.56%

#DIV/0! #DIV/0! #DIV/0! -1.30%OTHER ASSETS 19.35% 46.25% 6.75% 49.49%

82.16% 40.58% 19.12% 80.09%

379.99% 51.73% 126.43% -17.91%

51.04% 40.37% 30.36% 20.61%Advance taxation #DIV/0! 213.57% -100.00% #DIV/0!Dividend receiveable -85.47% 1471.67% 797.56% 31.96%Branch adjustment account -100.00% #DIV/0! #DIV/0! -100.00%

-13.00% -4.19% 6.02% -100.00%

#DIV/0! #DIV/0! #DIV/0! -52.65%Prepaid exchange risk fee -54.17% 224.14% -60.00% 8.48%Stationery and samples on hands 53.78% 35.55% 6.22% 14.67%Short term receivables 37.35% -100.00% #DIV/0! #DIV/0!Receivable against issue of rights #DIV/0! -60.00% -100.00% #DIV/0!Receivable from brokers -52.84% 72.41% -99.99% -77.78%Others #DIV/0! #DIV/0! #DIV/0! #DIV/0!

18.96% 47.57% 13.30% 52.88%

4.70% -3.94% 0.00% 0.00%

10.26% 86.15% 151.22% 83.84%OPERATING FIXED ASSETS 54.66% 58.65% 13.51% 15.53%Capital work- in-progress 109.64% 31.89% 27.18% 38.76%Property and equipment 47.95% 63.81% 10.66% 10.68%Intangible assets -9.05% 31.11% 199.89% 86.78%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

Liabilities 60.37% 11.02% 19.30% 6.11%BILLS PAYABLE 67.13% -17.20% 33.87% -16.58%in pakistan 54.83% -11.54% 33.70% -21.09%Outside pakistan #DIV/0! -88.49% 50.41% 370.98%

-54.07% 43.63% 152.92% -35.52%In pakistan -52.53% 42.47% 148.64% -36.88%outside pakistan -93.96% 279.56% 481.07% 9.26%






Deferred tax assets


71.41% 7.72% 14.06% 10.09%Customer #DIV/0! #DIV/0! #DIV/0! #DIV/0!Fixed deposits 266.20% 10.83% -3.75% 36.44%Saving deposits 22.88% -2.67% 36.74% -19.90%Current accounts- Remunerative #DIV/0! #DIV/0! #DIV/0! #DIV/0!

26.51% 27.11% 16.09% 15.84%Margin, call and sundry deposits 65.24% 3.07% -9.67% 136.16%

66.84% 9.05% 15.10% 9.41%Financial Institutions #DIV/0! #DIV/0! #DIV/0! #DIV/0!Remunerative deposits 235.71% -15.89% -11.46% 32.10%Non-remunerative deposits 112.40% -38.79% 569.23% -82.40%

235.14% -15.95% -10.21% 30.27%SUB-ORDINATED LOANS 69.70% -0.04% -0.04% -20.17%

-0.04% -0.04% -0.04% -100.00%

-0.04% -0.04% -0.04% -0.04%

#DIV/0! -0.04% -0.04% -0.04%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!OTHER LIABILITIES 91.52% 39.96% 30.48% 18.46%

154.31% 53.31% 14.49% 31.10%

162.58% 110.33% 80.98% -3.02%

33.71% 1.39% 22.72% 2.94%Accrued expanses -50.62% 14.54% 144.88% 11.24%Current taxtion #DIV/0! #DIV/0! #DIV/0! 39.01%

#DIV/0! 32.52% 30.34% 12.31%Branch adjustment account #DIV/0! -13.85% -100.00% #DIV/0!Taxtion -100.00% #DIV/0! #DIV/0! #DIV/0!Lease security deposit 130.82% 44.12% 26.22% 3.16%Payable to defined benefit plan #DIV/0! #DIV/0! #DIV/0! #DIV/0!

95.71% -99.94% 435400.00% 29.87%Payable to brokers -74.23% -50.32% -97.94% -98.12%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! 448.10%Workers welfare fund #DIV/0! #DIV/0! #DIV/0! #DIV/0!Others 46.26% 30.43% 13.05% -13.57%DEFERRED TAX LIABILITIES 75.49% 296.92% -171.82% -84.89%









#DIV/0! #DIV/0! #DIV/0! #DIV/0!Provision for doubtful debts 21.18% 34.38% -202.92% 47.46%

-100.00% #DIV/0! #DIV/0! #DIV/0!Deficit on revaluation of assets #DIV/0! 1034.16% -100.00% #DIV/0!Licence fee charged off -4.11% -100.00% #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

Deficit on revaluation of securities #DIV/0! #DIV/0! #DIV/0! 152.61%19.73% 52.93% -189.27% 96.71%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

25.04% 22.34% -100.00% #DIV/0!Leasing operations 199.59% 86.45% -100.00% #DIV/0!

#DIV/0! 1056.23% -100.00% #DIV/0!

#DIV/0! #DIV/0! #DIV/0! -16.79%Accelerated tax deprecation #DIV/0! #DIV/0! #DIV/0! 32.74%

-3.61% 177.35% -163.01% -17.77%

-100.00% #DIV/0! #DIV/0! #DIV/0!34.51% 137.28% -179.18% 1.45%61.02% 9.38% 18.69% 6.16%

NET ASSETS 41.86% 64.01% 32.49% 5.09%REPRESENTED BY: #DIV/0! #DIV/0! #DIV/0! #DIV/0!SHARE CAPITAL 20.00% 66.67% 30.00% 23.00%Authorised Capital #DIV/0! #DIV/0! #DIV/0! #DIV/0!

0.00% 100.00% 0.00% 18650.00%

Issued, subscribed and paid up #DIV/0! #DIV/0! #DIV/0! #DIV/0!

0.00% 200.00% 0.00% 0.00%

0.00% 57.14% 54.55% 35.18%










#DIV/0! -100.00% #DIV/0! #DIV/0!RESERVES 133.08% 16.94% -12.17% 31.11%UNAPPROPRIATED PROFIT 61.20% 103.56% 71.86% -28.95%

54.22% 56.91% 30.21% 6.12%

-18.64% 129.92% 46.95% -0.69%

-3.18% 177.30% 18.12% 3.58%

-128.27% 72.80% -49.78% 390.53%

#DIV/0! #DIV/0! -100.00% #DIV/0!



Bank Alfalah LimitedPercentage Comparative 2004 Base Balance Sheet

As on December 31,

Discription 2005 2006 2007Assets 160.37% 178.05% 212.42%

125.82% 141.36% 149.36%In Hand 127.97% 139.99% 191.23%local Currency 119.20% 113.98% 161.43%Foregn currency 180.30% 295.22% 369.09%With SBP in 113.21% 124.10% 118.94%Local currency Current Account 109.16% 122.43% 126.15%Foreign Currency Current Account 143.33% 143.40% 158.22%Forign Currency Deposit Account 131.91% 129.27% 51.82%With other central banks in #DIV/0! #DIV/0! #DIV/0!Forigen currency current account #DIV/0! #DIV/0! #DIV/0!Forigen currency deposit account #DIV/0! #DIV/0! #DIV/0!With National Bhank of Pakistan In 202.59% 175.02% 201.24%Local Currency Current Account 202.59% 175.02% 201.24%National prize Bonds #DIV/0! #DIV/0! #DIV/0!BALANCE WITH OTHER BANKS 305.07% 399.88% 577.29%

755.83% 2058.30% 1242.98%On current account 105.47% 203.27% 331.93%On deposit account 2410.01% 6776.55% 3560.20%Outside Pakistan 278.51% 302.16% 538.07%On current account 100.16% 136.67% 175.28%On deposit account 568.42% 571.16% 1127.79%

#DIV/0! #DIV/0! #DIV/0!Call money lendings #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!INVEST MENT S 161.72% 159.15% 249.25%Held By Bank 192.15% 184.29% 248.03%Available for sales securities 198.30% 538.54% 826.17%treasury Bills #DIV/0! #DIV/0! #DIV/0!

64.64% 55.86% 11.28%Fedral Investment Bonds 0.00% 0.00% 0.00%

116.74% 120.28% 447.08%

#DIV/0! #DIV/0! #DIV/0!Term finance sertifcates 90.16% 356.77% 296.60%Certifcates of Investments 51.30% 0.00% 0.00%Prize Bonds 0.00% 0.00% 0.00%Swift Shares 0.00% 0.00% 0.00%


In Pakistan





0.00% 0.00% 0.00%Sukuk Bonds #DIV/0! #DIV/0! #DIV/0!Held to maturity securities 192.67% 118.39% 136.70%Government Bonds 100.00% 100.00% 100.00%Pakistan investments bonds 112.89% 94.73% 80.32%treasury Bills 244.04% 123.56% 154.13%Term finance sertifcates 169.75% 173.07% 123.83%Pakistan Dollar bond #DIV/0! #DIV/0! #DIV/0!Credit linked note #DIV/0! #DIV/0! #DIV/0!Overseas bonds #DIV/0! #DIV/0! #DIV/0!Preference shares #DIV/0! #DIV/0! #DIV/0!Sukook Bonds #DIV/0! #DIV/0! #DIV/0!Held for trading securities 252.10% 296.74% 194.63%Treasury Bills #DIV/0! #DIV/0! #DIV/0!

154.32% 296.74% 194.63%Associates 171.22% 227.25% 368.71%Warid Telecom(pvt) ltd 162.44% 175.72% 235.43%Wateen Telecom(pvt) ltd #DIV/0! #DIV/0! #DIV/0!Alfalah Insurance ltd #DIV/0! #DIV/0! #DIV/0!Alfalah GHP value fund #DIV/0! #DIV/0! #DIV/0!

Alfalah GHP income multiplier fund #DIV/0! #DIV/0! #DIV/0!Alfalah GHP Islamic fund #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Subsidiaries 144.97% 174.60% 100.53%Alfalah Securities (pvt) Ltd 180.95% 180.95% 180.95%Alfalah GHP Investment #DIV/0! #DIV/0! #DIV/0!Management Ltd 100.00% 166.67% 0.00%Investment Cost 193.14% 187.33% 249.32%

#DIV/0! #DIV/0! #DIV/0!Investments (net or provisions) 193.14% 187.33% 249.32%

15.16% -4.77% -15.55%

2308.91% 2935.24% 976.81%

#DIV/0! #DIV/0! #DIV/0!Given as Collateral 4.44% 29.20% 255.55%Available for sale security 0.00% 191.61% 1680.23%Tresury Bills #DIV/0! #DIV/0! #DIV/0!

0.00% 0.00% 6.70%Fedral Investment Bonds #DIV/0! #DIV/0! #DIV/0!

Fully paid up ordnary shares-Listed #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!








Term finance sertifcates #DIV/0! #DIV/0! #DIV/0!Certifcates of Investments #DIV/0! #DIV/0! #DIV/0!Prize Bonds #DIV/0! #DIV/0! #DIV/0!Swift Shares #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Sukuk Bonds #DIV/0! #DIV/0! #DIV/0!Held to maturity securities 5.26% 0.00% 0.00%Government Bonds #DIV/0! #DIV/0! #DIV/0!Pakistan investments bonds 15.98% 0.00% 0.00%treasury Bills 0.00% 0.00% 0.00%Term finance sertifcates #DIV/0! #DIV/0! #DIV/0!Pakistan Dollar bond #DIV/0! #DIV/0! #DIV/0!Credit linked note #DIV/0! #DIV/0! #DIV/0!Overseas bonds #DIV/0! #DIV/0! #DIV/0!Preference shares #DIV/0! #DIV/0! #DIV/0!Sukook Bonds #DIV/0! #DIV/0! #DIV/0!Held for trading securities #DIV/0! #DIV/0! #DIV/0!Treasury bills #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Associates #DIV/0! #DIV/0! #DIV/0!Warid Telecom(pvt) ltd #DIV/0! #DIV/0! #DIV/0!Wateen Telecom(pvt) ltd #DIV/0! #DIV/0! #DIV/0!Alfalah Insurance ltd #DIV/0! #DIV/0! #DIV/0!Alfalah GHP value fund #DIV/0! #DIV/0! #DIV/0!


#DIV/0! #DIV/0! #DIV/0!Subsidiaries #DIV/0! #DIV/0! #DIV/0!Alfalah Securities (pvt) Ltd #DIV/0! #DIV/0! #DIV/0!Alfalah GHP Investment #DIV/0! #DIV/0! #DIV/0!Management Ltd #DIV/0! #DIV/0! #DIV/0!Investment Cost 4.45% 29.31% 257.05%


0.00% 0.00% 0.00%

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Total 161.72% 159.15% 249.25%Available for sales securities 165.54% 481.23% 967.26%treasury Bills #DIV/0! #DIV/0! #DIV/0!

51.15% 44.21% 10.33%Fedral Investment Bonds 0.00% 0.00% 0.00%Fully paid up ordnary shares 116.74% 120.28% 447.08%








Term finance sertifcates 90.16% 356.77% 296.60%Certifcates of Investments 51.30% 0.00% 0.00%Prize Bonds 0.00% 0.00% 0.00%Swift Shares 0.00% 0.00% 0.00%

0.00% 0.00% 0.00%Held to maturity securities 160.77% 98.23% 113.43%Government Bonds 100.00% 100.00% 100.00%Pakistan investments bonds 97.61% 79.79% 67.66%treasury Bills 197.73% 100.11% 124.89%Term finance sertifcates 169.75% 173.07% 123.83%Pakistan Dollar bond #DIV/0! #DIV/0! #DIV/0!Credit linked note #DIV/0! #DIV/0! #DIV/0!Overseas bonds #DIV/0! #DIV/0! #DIV/0!Preference shares #DIV/0! #DIV/0! #DIV/0!Sukook Bonds #DIV/0! #DIV/0! #DIV/0!Held for trading securities 252.10% 296.74% 194.63%

154.32% 296.74% 194.63%Associates 171.22% 227.25% 368.71%Warid Telecom(pvt) ltd 162.44% 175.72% 235.43%Wateen Telecom(pvt) ltd #DIV/0! #DIV/0! #DIV/0!Alfalah Insurance ltd #DIV/0! #DIV/0! #DIV/0!Alfalah GHP value fund #DIV/0! #DIV/0! #DIV/0!


#DIV/0! #DIV/0! #DIV/0!Subsidiaries 144.97% 174.60% 100.53%Alfalah Securities (pvt) Ltd 180.95% 180.95% 180.95%Alfalah GHP Investment #DIV/0! #DIV/0! #DIV/0! Management Ltd 100.00% 166.67% 0.00%Investment Cost 162.52% 161.69% 250.57%


13.22% -4.16% -13.56%

2308.91% 2972.93% 2557.23%

#DIV/0! #DIV/0! #DIV/0!ADVANCES 133.66% 168.67% 192.51%

125.34% 163.01% 189.15%in Pakistan 123.65% 158.61% 179.74%Outside Pakistan #DIV/0! #DIV/0! #DIV/0!

190.73% 224.17% 248.24%









Payable in pakistan 190.73% 224.17% 248.24%Payable outside pakistan #DIV/0! #DIV/0! #DIV/0!

222.10% 199.11% 224.53%Payable in pakistan 134.95% 102.48% 95.89%Payable outside pakistan 315.54% 302.70% 362.42%

114.18% 164.44% 248.55%

#DIV/0! #DIV/0! #DIV/0!OTHER ASSETS 119.35% 174.56% 186.34%

182.16% 256.08% 305.05%

479.99% 728.28% 1649.05%

151.04% 212.01% 276.39%Advance taxation #DIV/0! #DIV/0! #DIV/0!Dividend receiveable 14.53% 228.33% 2049.39%Branch adjustment account 0.00% 0.00% 3.47%

87.00% 83.36% 88.37%

#DIV/0! #DIV/0! #DIV/0!Prepaid exchange risk fee 45.83% 148.56% 59.43%Stationery and samples on hands 153.78% 208.45% 221.42%Short term receivables 137.35% 0.00% 0.00%Receivable against issue of rights #DIV/0! #DIV/0! #DIV/0!Receivable from brokers 47.16% 81.32% 0.01%Others #DIV/0! #DIV/0! #DIV/0!

118.96% 175.54% 198.89%

104.70% 100.57% 100.57%

110.26% 205.25% 515.64%OPERATING FIXED ASSETS 154.66% 245.37% 278.53%Capital work- in-progress 209.64% 276.49% 351.64%Property and equipment 147.95% 242.35% 268.18%Intangible assets 90.95% 119.24% 357.58%

#DIV/0! #DIV/0! #DIV/0!

Liabilities 160.37% 178.05% 212.42%BILLS PAYABLE 167.13% 138.39% 185.27%in pakistan 154.83% 136.97% 183.14%Outside pakistan #DIV/0! #DIV/0! #DIV/0!

45.93% 65.97% 166.86%In pakistan 47.47% 67.63% 168.15%outside pakistan 6.04% 22.92% 133.18%






Deferred tax assets


171.41% 184.64% 210.60%Customer #DIV/0! #DIV/0! #DIV/0!Fixed deposits 366.20% 405.86% 390.65%Saving deposits 122.88% 119.60% 163.54%Current accounts- Remunerative #DIV/0! #DIV/0! #DIV/0!

126.51% 160.81% 186.68%Margin, call and sundry deposits 165.24% 170.31% 153.83%

166.84% 181.94% 209.42%Financial Institutions #DIV/0! #DIV/0! #DIV/0!Remunerative deposits 335.71% 282.38% 250.02%Non-remunerative deposits 212.40% 130.01% 870.06%

335.14% 281.67% 252.91%SUB-ORDINATED LOANS 169.70% 169.63% 169.57%

99.96% 99.92% 99.88%

99.96% 99.92% 99.88%

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!OTHER LIABILITIES 191.52% 268.06% 349.75%

254.31% 389.87% 446.37%

262.58% 552.29% 999.52%

133.71% 135.57% 166.37%Accrued expanses 49.38% 56.57% 138.52%Current taxtion #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Branch adjustment account #DIV/0! #DIV/0! #DIV/0!Taxtion 0.00% 0.00% 0.00%Lease security deposit 230.82% 332.65% 419.88%Payable to defined benefit plan #DIV/0! #DIV/0! #DIV/0!

195.71% 0.12% 520.54%Payable to brokers 25.77% 12.80% 0.26%

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Workers welfare fund #DIV/0! #DIV/0! #DIV/0!Others 146.26% 190.77% 215.66%DEFERRED TAX LIABILITIES 175.49% 396.92% -71.82%









#DIV/0! #DIV/0! #DIV/0!Provision for doubtful debts 121.18% 162.84% -167.60%

0.00% 0.00% 0.00%Deficit on revaluation of assets #DIV/0! #DIV/0! #DIV/0!Licence fee charged off 95.89% 0.00% 0.00%

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!

Deficit on revaluation of securities #DIV/0! #DIV/0! #DIV/0!119.73% 183.10% -163.46%

#DIV/0! #DIV/0! #DIV/0!

125.04% 152.97% 0.00%Leasing operations 299.59% 558.58% 0.00%

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!Accelerated tax deprecation #DIV/0! #DIV/0! #DIV/0!

96.39% 267.35% -168.45%

0.00% 0.00% 0.00%134.51% 319.16% -252.70%161.02% 176.13% 209.05%

NET ASSETS 141.86% 164.01% 132.49%REPRESENTED BY: #DIV/0! #DIV/0! #DIV/0!SHARE CAPITAL 120.00% 166.67% 130.00%Authorised Capital #DIV/0! #DIV/0! #DIV/0!

100.00% 200.00% 200.00%

Issued, subscribed and paid up #DIV/0! #DIV/0! #DIV/0!

100.00% 300.00% 300.00%

100.00% 157.14% 242.86%










#DIV/0! #DIV/0! #DIV/0!RESERVES 233.08% 116.94% 87.83%UNAPPROPRIATED PROFIT 161.20% 203.56% 171.86%

154.22% 241.99% 315.09%

81.36% 229.92% 146.95%

96.82% 268.48% 317.12%

-28.27% -48.86% -24.54%

#DIV/0! #DIV/0! #DIV/0!



Bank Alfalah Limited Bank Alfalah LimitedPercentage Comparative 2004 Base Balance Sheet Comparative Vertical Commonsize Balance Sheet

As on December 31, As on December 31,

2008 Discription 2004 2005225.40% Assets 100.00% 100.00%

165.85% 12.73% 9.99%269.04% In Hand 2.24% 1.79%213.20% local Currency 1.92% 1.43%602.36% Foregn currency 0.32% 0.36%105.24% With SBP in 10.06% 7.10%

86.75% Local currency Current Account 8.48% 5.77%213.67% Foreign Currency Current Account 0.42% 0.38%201.04% Forign Currency Deposit Account 1.16% 0.95%#DIV/0! With other central banks in 0.00% 0.55%#DIV/0! Forigen currency current account 0.00% 0.11%#DIV/0! Forigen currency deposit account 0.00% 0.44%

393.83% With National Bhank of Pakistan In 0.42% 0.54%393.83% Local Currency Current Account 0.42% 0.54%#DIV/0! National prize Bonds 0.00% 0.00%

677.81% BALANCE WITH OTHER BANKS 2.06% 3.91%2516.45% 0.11% 0.54%

475.10% On current account 0.08% 0.05%7708.57% On deposit account 0.03% 0.49%

569.46% Outside Pakistan 1.94% 3.37%438.41% On current account 1.20% 0.75%782.50% On deposit account 0.74% 2.62%

#DIV/0! 0.00% 10.89%#DIV/0! Call money lendings 0.00% 0.32%

#DIV/0! 0.00% 10.58%213.99% INVEST MENT S 22.93% 23.12%239.06% Held By Bank 19.21% 23.02%760.08% Available for sales securities 2.86% 3.54%#DIV/0! treasury Bills 0.00% 2.23%13.77% 2.15% 0.87%

0.00% Fedral Investment Bonds 0.01% 0.00%

834.80% 0.33% 0.24%

#DIV/0! 0.00% 0.03%383.49% Term finance sertifcates 0.23% 0.13%

0.00% Certifcates of Investments 0.13% 0.04%0.00% Prize Bonds 0.00% 0.00%0.00% Swift Shares 0.00% 0.00%


In Pakistan





0.00% 0.00% 0.00%#DIV/0! Sukuk Bonds 0.00% 0.00%

139.68% Held to maturity securities 15.29% 18.37%100.00% Government Bonds 0.06% 0.03%

61.17% Pakistan investments bonds 5.51% 3.88%100.52% treasury Bills 8.99% 13.68%797.44% Term finance sertifcates 0.74% 0.78%#DIV/0! Pakistan Dollar bond 0.00% 0.00%#DIV/0! Credit linked note 0.00% 0.00%#DIV/0! Overseas bonds 0.00% 0.00%#DIV/0! Preference shares 0.00% 0.00%#DIV/0! Sukook Bonds 0.00% 0.00%

3.60% Held for trading securities 0.18% 0.29%#DIV/0! Treasury Bills 0.00% 0.11%

3.60% 0.18% 0.18%516.95% Associates 0.74% 0.78%383.67% Warid Telecom(pvt) ltd 0.74% 0.74%#DIV/0! Wateen Telecom(pvt) ltd 0.00% 0.00%#DIV/0! Alfalah Insurance ltd 0.00% 0.00%#DIV/0! Alfalah GHP value fund 0.00% 0.04%

#DIV/0! Alfalah GHP income multiplier fund 0.00% 0.00%#DIV/0! Alfalah GHP Islamic fund 0.00% 0.00%

#DIV/0! 0.00% 0.00%100.53% Subsidiaries 0.05% 0.04%180.95% Alfalah Securities (pvt) Ltd 0.03% 0.03%#DIV/0! Alfalah GHP Investment 0.00% 0.00%

0.00% Management Ltd 0.02% 0.01%245.68% Investment Cost 19.12% 23.03%

#DIV/0! 0.00% 0.00%240.68% Investments (net or provisions) 19.12% 23.03%

0.77% 0.09% 0.01%

7094.69% 0.00% -0.02%

#DIV/0! 0.00% 0.00%84.39% Given as Collateral 3.72% 0.10%

559.37% Available for sale security 0.57% 0.00%#DIV/0! Tresury Bills 0.00% 0.00%

6.78% 0.57% 0.00%#DIV/0! Fedral Investment Bonds 0.00% 0.00%

#DIV/0! Fully paid up ordnary shares-Listed 0.00% 0.00%

#DIV/0! 0.00% 0.00%








#DIV/0! Term finance sertifcates 0.00% 0.00%#DIV/0! Certifcates of Investments 0.00% 0.00%#DIV/0! Prize Bonds 0.00% 0.00%#DIV/0! Swift Shares 0.00% 0.00%

#DIV/0! 0.00% 0.00%#DIV/0! Sukuk Bonds 0.00% 0.00%

0.00% Held to maturity securities 3.14% 0.10%#DIV/0! Government Bonds 0.00% 0.00%

0.00% Pakistan investments bonds 1.03% 0.10%0.00% treasury Bills 2.11% 0.00%

#DIV/0! Term finance sertifcates 0.00% 0.00%#DIV/0! Pakistan Dollar bond 0.00% 0.00%#DIV/0! Credit linked note 0.00% 0.00%#DIV/0! Overseas bonds 0.00% 0.00%#DIV/0! Preference shares 0.00% 0.00%#DIV/0! Sukook Bonds 0.00% 0.00%#DIV/0! Held for trading securities 0.00% 0.00%#DIV/0! Treasury bills 0.00% 0.00%#DIV/0! 0.00% 0.00%#DIV/0! Associates 0.00% 0.00%#DIV/0! Warid Telecom(pvt) ltd 0.00% 0.00%#DIV/0! Wateen Telecom(pvt) ltd 0.00% 0.00%#DIV/0! Alfalah Insurance ltd 0.00% 0.00%#DIV/0! Alfalah GHP value fund 0.00% 0.00%


#DIV/0! 0.00% 0.00%#DIV/0! Subsidiaries 0.00% 0.00%#DIV/0! Alfalah Securities (pvt) Ltd 0.00% 0.00%#DIV/0! Alfalah GHP Investment 0.00% 0.00%#DIV/0! Management Ltd 0.00% 0.00%85.57% Investment Cost 3.70% 0.10%


0.00% 0.01% 0.00%

#DIV/0! 0.00% 0.00%

#DIV/0! 0.00% 0.00%213.99% Total 22.93% 23.12%726.92% Available for sales securities 3.43% 3.54%#DIV/0! treasury Bills 0.00% 2.23%12.31% 2.72% 0.87%

0.00% Fedral Investment Bonds 0.01% 0.00%834.80% Fully paid up ordnary shares 0.33% 0.24%








383.49% Term finance sertifcates 0.23% 0.13%0.00% Certifcates of Investments 0.13% 0.04%0.00% Prize Bonds 0.00% 0.00%0.00% Swift Shares 0.00% 0.00%

0.00% 0.00% 0.00%115.90% Held to maturity securities 18.43% 18.48%100.00% Government Bonds 0.06% 0.03%

51.52% Pakistan investments bonds 6.54% 3.98%81.45% treasury Bills 11.09% 13.68%

797.44% Term finance sertifcates 0.74% 0.78%#DIV/0! Pakistan Dollar bond 0.00% 0.00%#DIV/0! Credit linked note 0.00% 0.00%#DIV/0! Overseas bonds 0.00% 0.00%#DIV/0! Preference shares 0.00% 0.00%#DIV/0! Sukook Bonds 0.00% 0.00%

3.60% Held for trading securities 0.18% 0.29%

3.60% 0.18% 0.18%516.95% Associates 0.74% 0.78%383.67% Warid Telecom(pvt) ltd 0.74% 0.74%#DIV/0! Wateen Telecom(pvt) ltd 0.00% 0.00%#DIV/0! Alfalah Insurance ltd 0.00% 0.00%#DIV/0! Alfalah GHP value fund 0.00% 0.04%


#DIV/0! 0.00% 0.00%100.53% Subsidiaries 0.05% 0.04%180.95% Alfalah Securities (pvt) Ltd 0.03% 0.03%#DIV/0! Alfalah GHP Investment 0.00% 0.00%

0.00% Management Ltd 0.02% 0.01%219.70% Investment Cost 22.83% 23.13%


0.67% 0.10% 0.01%

9433.95% 0.00% -0.02%

#DIV/0! 0.00% 0.00%216.65% ADVANCES 57.44% 47.87%

221.80% 52.14% 40.75%209.40% in Pakistan 52.14% 40.20%#DIV/0! Outside Pakistan 0.00% 0.55%

221.48% 4.12% 4.90%









221.48% Payable in pakistan 4.12% 4.90%#DIV/0! Payable outside pakistan 0.00% 0.00%

176.75% 2.06% 2.85%66.34% Payable in pakistan 1.06% 0.90%

295.11% Payable outside pakistan 0.99% 1.95%

371.72% -0.88% -0.63%

#DIV/0! 0.00% 0.00%278.57% OTHER ASSETS 2.08% 1.55%

549.36% 0.86% 0.98%

1353.74% 0.01% 0.04%

333.36% 0.49% 0.46%#DIV/0! Advance taxation 0.00% 0.06%

2704.36% Dividend receiveable 0.00% 0.00%0.00% Branch adjustment account 0.61% 0.00%

0.00% 0.02% 0.01%

#DIV/0! 0.00% 0.00%64.47% Prepaid exchange risk fee 0.00% 0.00%

253.91% Stationery and samples on hands 0.02% 0.02%0.00% Short term receivables 0.00% 0.00%

#DIV/0! Receivable against issue of rights 0.00% 0.00%0.00% Receivable from brokers 0.16% 0.05%

#DIV/0! Others 0.00% 0.00%304.06% 2.17% 1.61%

100.57% -0.01% 0.00%

947.93% -0.08% -0.06%321.77% OPERATING FIXED ASSETS 2.76% 2.67%487.93% Capital work- in-progress 0.32% 0.42%296.81% Property and equipment 2.42% 2.24%667.91% Intangible assets 0.02% 0.01%#DIV/0! 0.00% 0.00%

225.40% Liabilities 100.00% 100.00%154.55% BILLS PAYABLE 1.44% 1.50%144.52% in pakistan 1.44% 1.39%#DIV/0! Outside pakistan 0.00% 0.11%

107.60% 8.22% 2.35%106.14% In pakistan 7.91% 2.34%145.51% outside pakistan 0.30% 0.01%






Deferred tax assets


231.84% 83.78% 89.54%#DIV/0! Customer 0.00% 0.00%

533.02% Fixed deposits 14.14% 32.28%131.00% Saving deposits 42.60% 32.64%#DIV/0! Current accounts- Remunerative 0.00% 0.00%

216.26% 23.39% 18.45%363.29% Margin, call and sundry deposits 1.37% 1.41%229.12% 81.50% 84.79%#DIV/0! Financial Institutions 0.00% 0.00%

330.28% Remunerative deposits 2.26% 4.74%153.09% Non-remunerative deposits 0.01% 0.01%329.46% 2.27% 4.75%135.36% SUB-ORDINATED LOANS 1.23% 1.30%

0.00% 0.42% 0.26%

99.85% 0.81% 0.50%

#DIV/0! 0.00% 0.53%

#DIV/0! 0.00% 0.00%414.31% OTHER LIABILITIES 1.76% 2.10%

585.20% 0.45% 0.72%

969.30% 0.02% 0.04%

171.27% 0.06% 0.05%154.10% Accrued expanses 0.18% 0.06%#DIV/0! Current taxtion 0.00% 0.00%

#DIV/0! 0.00% 0.04%#DIV/0! Branch adjustment account 0.00% 0.14%

0.00% Taxtion 0.05% 0.00%433.16% Lease security deposit 0.64% 0.93%#DIV/0! Payable to defined benefit plan 0.00% 0.00%

676.02% 0.00% 0.01%0.00% Payable to brokers 0.25% 0.04%

#DIV/0! 0.00% 0.00%

#DIV/0! 0.00% 0.00%#DIV/0! Workers welfare fund 0.00% 0.00%

186.39% Others 0.10% 0.09%15.11% DEFERRED TAX LIABILITIES -0.18% -0.19%









#DIV/0! 0.00% 0.00%-247.14% Provision for doubtful debts 0.47% 0.36%

0.00% 0.01% 0.00%#DIV/0! Deficit on revaluation of assets 0.00% 0.01%

0.00% Licence fee charged off 0.01% 0.01%

#DIV/0! 0.00% 0.00%

#DIV/0! 0.00% 0.00%

#DIV/0! 0.00% 0.00%

#DIV/0! Deficit on revaluation of securities 0.00% 0.00%-321.55% 0.49% 0.37%

#DIV/0! 0.00% 0.00%

0.00% -0.29% -0.23%0.00% Leasing operations -0.08% -0.14%

#DIV/0! 0.00% -0.03%

#DIV/0! 0.00% 0.00%#DIV/0! Accelerated tax deprecation 0.00% 0.00%

-138.52% -0.27% -0.16%

0.00% -0.03% 0.00%-256.37% -0.67% -0.56%221.93% 96.60% 96.99%105.09% NET ASSETS 3.40% 3.01%#DIV/0! REPRESENTED BY: 0.00% 0.00%

123.00% SHARE CAPITAL 1.61% 1.21%#DIV/0! Authorised Capital 0.00% 0.00%

37500.00% 2.58% 1.61%

#DIV/0! Issued, subscribed and paid up 0.00% 0.00%

300.00% 0.48% 0.30%

328.29% 1.13% 0.70%










#DIV/0! 0.00% 0.20%131.11% RESERVES 0.65% 0.95%

71.05% UNAPPROPRIATED PROFIT 0.56% 0.56%334.36% 2.82% 2.71%

99.31% 0.58% 0.29%

328.46% 0.51% 0.30%

-120.37% 0.07% -0.01%

#DIV/0! 0.00% 0.00%



Bank Alfalah LimitedComparative Vertical Commonsize Balance Sheet

As on December 31,

2006 2007 2008100.00% 100.00% 100.00%

10.11% 8.95% 9.37%1.76% 2.02% 2.67%1.23% 1.46% 1.82%0.53% 0.56% 0.86%7.01% 5.63% 4.70%5.83% 5.04% 3.26%0.34% 0.32% 0.40%0.84% 0.28% 1.03%0.91% 0.89% 1.25%0.55% 0.43% 0.60%0.36% 0.46% 0.64%0.42% 0.40% 0.74%0.42% 0.40% 0.74%0.01% 0.01% 0.00%4.62% 5.59% 6.18%1.32% 0.67% 1.28%0.09% 0.13% 0.17%1.23% 0.54% 1.10%3.30% 4.92% 4.91%0.92% 0.99% 2.34%2.37% 3.93% 2.57%

4.52% 1.05% 0.95%0.94% 0.30% 0.95%

3.58% 0.75% 0.00%20.50% 26.91% 21.77%19.89% 22.43% 20.38%

8.66% 11.14% 9.66%7.25% 9.96% 7.26%0.67% 0.11% 0.13%0.00% 0.00% 0.00%

0.22% 0.70% 1.22%

0.05% 0.04% 0.04%0.47% 0.33% 0.40%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%0.00% 0.00% 0.60%

10.17% 9.84% 9.48%0.03% 0.03% 0.02%2.93% 2.08% 1.50%6.24% 6.52% 4.01%0.72% 0.43% 2.61%0.00% 0.00% 0.10%0.00% 0.00% 0.11%0.00% 0.00% 0.02%0.00% 0.00% 0.09%0.25% 0.78% 1.02%0.30% 0.17% 0.00%0.00% 0.00% 0.00%

0.30% 0.17% 0.00%0.94% 1.28% 1.69%0.73% 0.81% 1.25%0.15% 0.13% 0.12%0.03% 0.02% 0.02%0.04% 0.03% 0.03%

0.00% 0.17% 0.16%0.00% 0.08% 0.07%

0.00% 0.04% 0.04%0.05% 0.02% 0.02%0.03% 0.02% 0.02%0.00% 0.00% 0.00%0.02% 0.00% 0.00%

20.12% 22.45% 20.85%

0.00% 0.00% -0.42%20.12% 22.45% 20.42%

0.00% -0.01% 0.00%

-0.02% -0.01% -0.04%

-0.21% 0.00% 0.00%0.61% 4.47% 1.39%0.61% 4.48% 1.41%0.61% 4.46% 1.39%0.00% 0.02% 0.02%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.61% 4.48% 1.41%

0.00% 0.00% 0.00%0.61% 4.48% 1.41%

0.00% 0.00% 0.00%

0.00% -0.01% -0.01%

0.00% 0.00% 0.00%20.50% 26.91% 21.77%

9.27% 15.62% 11.06%7.86% 14.43% 8.65%0.67% 0.13% 0.15%0.00% 0.00% 0.00%0.22% 0.70% 1.22%

0.47% 0.33% 0.40%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%10.17% 9.84% 9.48%

0.03% 0.03% 0.02%2.93% 2.08% 1.50%6.24% 6.52% 4.01%0.72% 0.43% 2.61%0.00% 0.00% 0.10%0.00% 0.00% 0.11%0.00% 0.00% 0.02%0.00% 0.00% 0.09%0.25% 0.78% 1.02%0.30% 0.17% 0.00%

0.30% 0.17% 0.00%0.94% 1.28% 1.69%0.73% 0.81% 1.25%0.15% 0.13% 0.12%0.03% 0.02% 0.02%0.04% 0.03% 0.03%

0.00% 0.17% 0.16%0.00% 0.08% 0.07%

0.00% 0.04% 0.04%0.05% 0.02% 0.02%0.03% 0.02% 0.02%0.00% 0.00% 0.00%0.02% 0.00% 0.00%

20.73% 26.93% 22.25%

0.00% 0.00% -0.42%20.73% 26.93% 21.83%

0.00% -0.01% 0.00%

-0.02% -0.02% -0.06%

-0.21% 0.00% 0.00%54.41% 52.05% 55.21%

47.74% 46.43% 51.31%46.45% 44.12% 48.44%

1.29% 2.31% 2.87%

5.18% 4.81% 4.05%

5.18% 4.81% 4.05%0.00% 0.00% 0.00%

2.30% 2.17% 1.61%0.61% 0.48% 0.31%1.69% 1.69% 1.30%

-0.81% -1.03% -1.45%

0.00% -0.33% -0.31%2.04% 1.83% 2.58%

1.24% 1.23% 2.09%

0.06% 0.11% 0.09%

0.58% 0.63% 0.72%0.16% 0.00% 0.00%0.00% 0.00% 0.00%0.00% 0.01% 0.00%

0.01% 0.01% 0.00%

0.00% 0.01% 0.01%0.00% 0.00% 0.00%0.02% 0.02% 0.02%0.00% 0.00% 0.00%0.00% 0.00% 0.00%0.07% 0.00% 0.00%0.00% 0.00% 0.00%2.14% 2.04% 2.93%

0.00% 0.00% 0.00%

-0.10% -0.21% -0.36%3.81% 3.62% 3.95%0.50% 0.53% 0.69%3.30% 3.06% 3.19%0.01% 0.04% 0.06%0.00% 0.00% 0.00%

100.00% 100.00% 100.00%1.12% 1.26% 0.99%1.11% 1.24% 0.92%0.01% 0.01% 0.06%

3.04% 6.46% 3.92%3.01% 6.26% 3.73%0.04% 0.19% 0.20%

86.88% 83.06% 86.17%0.00% 0.00% 0.00%

32.23% 26.00% 33.44%28.62% 32.80% 24.76%

0.00% 0.00% 0.00%

21.12% 20.56% 22.44%1.31% 0.99% 2.21%

83.28% 80.35% 82.85%0.00% 0.00% 0.00%3.59% 2.66% 3.32%0.01% 0.04% 0.01%3.60% 2.71% 3.32%1.17% 0.98% 0.74%

0.24% 0.20% 0.00%

0.45% 0.38% 0.36%

0.48% 0.40% 0.38%

0.00% 0.00% 0.00%2.65% 2.90% 3.24%

0.99% 0.95% 1.18%

0.07% 0.11% 0.10%

0.04% 0.04% 0.04%0.06% 0.12% 0.12%0.00% 0.23% 0.30%

0.05% 0.05% 0.06%0.11% 0.00% 0.00%0.00% 0.00% 0.00%1.20% 1.27% 1.24%0.00% 0.00% 0.00%

0.00% 0.01% 0.01%0.02% 0.00% 0.00%

0.00% 0.00% 0.05%

0.00% 0.00% 0.01%0.00% 0.00% 0.03%0.10% 0.10% 0.08%

-0.70% 0.42% 0.06%

0.00% 0.00% 0.00%0.43% -0.37% -0.52%

0.00% 0.00% 0.00%0.08% 0.00% 0.00%0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% -0.15%

0.00% 0.00% -0.02%

0.00% -0.01% -0.02%0.51% -0.38% -0.70%

0.00% 0.00% 0.00%

-0.25% 0.00% 0.00%-0.24% 0.00% 0.00%

-0.30% 0.00% 0.00%

0.00% 0.28% 0.22%0.00% 0.30% 0.37%

-0.41% 0.22% 0.17%

0.00% 0.00% 0.00%-1.21% 0.80% 0.76%95.56% 95.07% 95.12%

4.44% 4.93% 4.88%0.00% 0.00% 0.00%1.81% 1.98% 2.29%0.00% 0.00% 0.00%

2.90% 2.43% 429.81%

0.00% 0.00% 0.00%

0.82% 0.68% 0.64%

1.00% 1.29% 1.65%

0.00% 0.00% 0.00%1.00% 0.73% 0.91%1.02% 1.48% 0.99%3.84% 4.19% 4.19%

0.61% 0.75% 0.70%

0.76% 0.75% 0.74%

-0.02% -0.01% -0.04%

-0.14% 0.00% 0.00%

Bank Alfalah Limited Summarized Income Statement

For The Year Ended December 31,

DISCRIPTION 2004 2005 2006 2007 2008

5,620,203 12,246,811 21,191,470 25,783,871 31,046,583 on loans and advances to; 4,171,634 8,869,379 14,433,129 18,231,498 23,221,534 customers 4,152,725 8,779,866 14,336,612 17,894,187 22,850,436 Financial institutions 18,909 89,513 96,517 337,311 371,098 On investments in: 1,319,841 2,464,614 5,544,731 5,842,408 6,110,347 Available for sales securities 628,338 574,719 2,513,194 3,246,017 4,458,115 Held to maturity securities 691,503 1,888,494 3,020,932 2,596,391 1,651,521 Held for trading - 1,401 10,605 - 711

81,913 420,056 740,026 1,154,110 1,406,104

46,815 492,762 473,584 555,855 308,598

2,434,459 7,204,992 15,232,886 16,620,963 20,331,194

1,795,093 6,447,085 13,476,973 15,235,243 18,310,713

398,704 235,177 1,032,832 589,210 745,671 Other short term borrowings 156,290 314,856 369,911 419,803 856,722 Term finance certifcates 84,372 207,874 353,170 376,707 408,967 Others - - - - 9,121 Net mark-up/ intrest income 3,185,744 5,041,819 5,958,584 9,162,908 10,715,389

SpecificOpening balance 1,006,215 851,119 707,369 1,175,568 3,380,409

- 20,787 - - - Exchange adjustments - - 70 (1662) 20,291 Change for the year 92,053 206,704 652,227 2,559,795 3,026,822 Reversals (80887) (124451) (171463) (230336) (932594)

11,166 82,253 480,764 2,329,459 2,094,228 Transfer from intrest in suspense - 3,637 - - - Amount written off (166262) (250427) (12635) (122956) (439330) Closing balance 851,119 707,369 1,175,568 3,380,409 5,055,598 GeneralOpening balance 149,896 508,938 845,612 1,060,888 1,099,409

- 16,629 - - - Exchange adjustments - - (1650) (2887) 43,907

MARK-UP/ RETURNE/INTREST EARNED

On deposits with financial institutions On securities purchase under resale agreementMARK-UP/ RETURNE/INTREST EXPENSEDDeposits(includind exchange risk fee)Securities sold under repurchase agreements

PROVISIONS AGAINST NON- PERFORMING LOANS AND ADVANCES- NET

Opening balance of foreign branch acquired during the year


Change for the year 359,052 320,269 217,069 154,726 73,906 Reversals (10) (224) (143) (113318) (132137)

359,042 320,045 216,926 41,408 (58,231)Transfer from intrest in suspense - - - - - Amount written off - - - - - Closing balance 508,938 845,612 1,060,888 1,099,409 1,085,085 TotalOpening balance 1,156,111 1,360,057 1,552,981 2,236,456 4,479,818

- 37,416 - - - Change for the year 451,105 526,973 869,296 2,714,521 3,100,728 Reversals (80,897) (124,675) (171,606) (343,654) (1,064,731)

370,208 402,298 697,690 2,370,867 2,035,997 Transfer from intrest in suspense - 3,637 - - - Amount written off (166,262) (250,427) (12,635) (122,956) (439,330)Closing balance 1,360,057 1,552,981 2,236,456 4,479,818 6,140,683

2,165 (23163) - - 1,479,062

351 512 1,537 5,844 28,298 372,724 379,647 699,227 2,376,711 3,543,357

2,813,020 4,662,172 5,259,357 6,786,197 7,172,032

NON MARK-UP/INTREST INCOME 1,520,049 2,245,370 3,252,238 6,053,395 5,426,998

675,868 1,158,747 1,804,998 2,429,599 2,539,321 Dividend income 52,539 52,014 37,393 64,722 300,943

218,820 290,091 386,997 474,510 914,845 Other income 572,822 744,518 1,022,850 3,084,564 1,671,889 Market tresury bills - - (1324) - -

Postage, telex, service charges etc 319,276 500,658 829,100 1,017,444 1,169,672

4,297 4,309 12,999 13,928 77,997

246,117 231,878 182,161 264,678 252,857

- - - 1,788,514 171,363

3,132 7,673 (86) - -

- - (27599) (14929) (181571)

Total non mark-up/ intrest income 4,333,069 6,907,542 8,483,996 12,824,663 12,417,459


PROVISIONS FOR DIMINUTION IN THE VALUE OF INVESTMENTSBAD DEBTS WRITTEN OFF DIRECTLY

NET MARK-UP/ INTREST INCOME AFTER PROVISIONS

Fee, commission and brokerage income

Income from dealing in forigen currencies

Net profit on sales of property and equipmentGain on sale of shares/ certifcates/ units listedGain on sale of shares/ certifcates/ units un-listedGain on sale of Pakistan Investment BondsUnrealized loss on revaluation of investments classified as held for trading

NON MARK-UP INTREST EXPENSES

Administrative expenses 2,677,635 4,313,023 5,874,745 8,272,587 10,471,399

- - - 4,937 14,560 Salaries, allowances, etc 1,025,856 1,538,299 2,267,122 3,531,139 4,350,015

27,531 46,637 62,797 90,289 142,926

34,014 53,281 79,535 114,015 146,620 Brokerage and commissions 140,039 320,808 458,167 535,532 585,664

Rent, taxes, insurance, electricty, etc 324,774 529,956 731,401 912,361 1,254,212 Legal and professional charges 41,977 48,394 66,161 154,295 163,069 Communication 125,968 209,750 263,925 305,767 401,237 Repair and mantinance 110,136 178,312 266,002 399,100 574,876 Stationery and printing 78,272 115,982 138,420 135,175 163,745 Advertisement and publicity 243,643 283,426 357,832 476,878 528,432 Donations 17,100 117,600 3,625 36,173 2,350 Auditors remunration 2,820 4,311 5,124 6,262 12,532 Depriciation 294,446 468,973 691,836 956,947 1,205,825 Amortization of intangibal assets 11,886 14,397 16,660 39,628 105,751

127,214 207,161 279,415 329,514 452,100 Others 71,959 175,736 186,723 244,575 367,485 Other provisions / write offs - 10,125 - 6,959 28,582 Other charges

1,700 21,104 43,306 9,565 122,758

Total non mark-up/ intrest expenses 2,679,335 4,344,252 5,918,051 8,289,111 10,622,739 Extra ordniry/ unusual items 1,653,734 2,563,290 2,565,945 4,535,552 1,794,720 PROFIT BEFORE TAXATION 561,745 861,196 803,254 1,405,323 493,419

586,159 592,635 476,226 1,726,810 1,730,051 (3663) 267,524 427,902 (321487) (1151019) (30000) (7000) - - (221797) 9,249 8,037 (100874) - 136,184

PROFIT AFTER TAXATION 1,091,989 1,702,094 1,762,691 3,130,229 1,301,301

963,042 860,300 1,886,845 2,823,072 - Transfer from general reserve - - - - -

23,667 24,870 26,074 24,585 -

Profit available for appropriation 2,078,698 2,587,264 3,675,610 5,977,886 1,301,301 APPROPRIATIONSTransferred to statutory reserve (218398) (340419) - - -

(500000) - - - -

(500000) - - - -

Non-executive director fee and allowances

Chaing for defined benefit plan- GratuityContribution to defined contribution plan- Provident Fund

Entertainment, vehical running expenses, travelling and subscription

Penalities imposed by State Bank of Pakistan

Taxation for the year -CurrentTaxation for the year -DeferredFor prior year- CurrentFor prior year- Deferred

Unappropriated profit brought forward

Transfered from surpluson revaluation of fixed asset-net of tax

Bonus shares- interim @nil (2004: @25%)Final dividend for 2004: @ nil (2003: @ 25%)

- (360000) - - -

- (500000) - - - (1,218,398) (1,200,419) - - -

Unappropriated profit carried forward 860,300 1,386,845 3,675,610 5,977,886 1,301,301

Basic/ Diluted earnings per share 3.89 5.75 3.86 4.82 1.63 Profit for the year 1,091,989 1,702,094 1,762,691 3,130,229 1,301,301

280,428 296,016 456,132 650,000 799,500

Interim dividend @ 12% (2004: @ nil)Transfer to reserves for issue of bonus shares

Weighted average number of ordinary shares

Bank Alfalah LimitedComparative Change Base Income Statement


DISCRIPTION 2005 2006 2007 2008

6,626,608 8,944,659 4,592,401 5,262,712 on loans and advances to; 4,697,745 5,563,750 3,798,369 4,990,036 customers 4,627,141 5,556,746 3,557,575 4,956,249 Financial institutions 70,604 7,004 240,794 33,787 On investments in: 1,144,773 3,080,117 297,677 267,939 Available for sales securities (53,619) 1,938,475 732,823 1,212,098 Held to maturity securities 1,196,991 1,132,438 (424,541) (944,870)Held for trading 1,401 9,204 (10,605) 711

338,143 319,970 414,084 251,994

445,947 (19,178) 82,271 (247,257)

4,770,533 8,027,894 1,388,077 3,710,231

Deposits(includind exchange risk fee) 4,651,992 7,029,888 1,758,270 3,075,470

(163,527) 797,655 (443,622) 156,461 Other short term borrowings 158,566 55,055 49,892 436,919 Term finance certifcates 123,502 145,296 23,537 32,260 Others - - - 9,121 Net mark-up/ intrest income 1,856,075 916,765 3,204,324 1,552,481

- - - - Specific - - - - Opening balance (155,096) (143,750) 468,199 2,204,841

20,787 (20,787) - - Exchange adjustments - 70 (1,732) 21,953 Change for the year 114,651 445,523 1,907,568 467,027 Reversals (43,564) (47,012) (58,873) (702,258)

71,087 398,511 1,848,695 (235,231)Transfer from intrest in suspense 3,637 (3,637) - - Amount written off (84,165) 237,792 (110,321) (316,374)Closing balance (143,750) 468,199 2,204,841 1,675,189 General - - - - Opening balance 359,042 336,674 215,276 38,521

16,629 (16,629) - - Exchange adjustments - (1,650) (1,237) 46,794


On deposits with financial institutions On securities purchase under resale agreementMARK-UP/ RETURNE/INTREST EXPENSED

Securities sold under repurchase agreements




Change for the year (38,783) (103,200) (62,343) (80,820)Reversals (214) 81 (113,175) (18,819)

(38,997) (103,119) (175,518) (99,639)Transfer from intrest in suspense - - - - Amount written off - - - - Closing balance 336,674 215,276 38,521 (14,324)Total - - - - Opening balance 203,946 192,924 683,475 2,243,362

37,416 (37,416) - - Change for the year 75,868 342,323 1,845,225 386,207 Reversals (43,778) (46,931) (172,048) (721,077)

32,090 295,392 1,673,177 (334,870)Transfer from intrest in suspense 3,637 (3,637) - - Amount written off (84,165) 237,792 (110,321) (316,374)Closing balance 192,924 683,475 2,243,362 1,660,865

(25,328) 23,163 - 1,479,062

161 1,025 4,307 22,454 6,923 319,580 1,677,484 1,166,646

1,849,152 597,185 1,526,840 385,835

NON MARK-UP/INTREST INCOME 725,321 1,006,868 2,801,157 (626,397)

Fee, commission and brokerage income 482,879 646,251 624,601 109,722 Dividend income (525) (14,621) 27,329 236,221

71,271 96,906 87,513 440,335 Other income 171,696 278,332 2,061,714 (1,412,675)Market tresury bills - (1,324) 1,324 -

Postage, telex, service charges etc 181,382 328,442 188,344 152,228

12 8,690 929 64,069

(14,239) (49,717) 82,517 (11,821)

- - 1,788,514 (1,617,151)

4,541 (7,759) 86 -

- (27,599) 12,670 (166,642)

Total non mark-up/ intrest income 2,574,473 1,576,454 4,340,667 (407,204)

NON MARK-UP INTREST EXPENSES - - - -






Administrative expenses 1,635,388 1,561,722 2,397,842 2,198,812

- - 4,937 9,623 Salaries, allowances, etc 512,443 728,823 1,264,017 818,876

Chaing for defined benefit plan- Gratuity 19,106 16,160 27,492 52,637

19,267 26,254 34,480 32,605 Brokerage and commissions 180,769 137,359 77,365 50,132

Rent, taxes, insurance, electricty, etc 205,182 201,445 180,960 341,851 Legal and professional charges 6,417 17,767 88,134 8,774 Communication 83,782 54,175 41,842 95,470 Repair and mantinance 68,176 87,690 133,098 175,776 Stationery and printing 37,710 22,438 (3,245) 28,570 Advertisement and publicity 39,783 74,406 119,046 51,554 Donations 100,500 (113,975) 32,548 (33,823)Auditors remunration 1,491 813 1,138 6,270 Depriciation 174,527 222,863 265,111 248,878 Amortization of intangibal assets 2,511 2,263 22,968 66,123

79,947 72,254 50,099 122,586 Others 103,777 10,987 57,852 122,910 Other provisions / write offs 10,125 (10,125) 6,959 21,623 Other charges - - - -

19,404 22,202 (33,741) 113,193

Total non mark-up/ intrest expenses 1,664,917 1,573,799 2,371,060 2,333,628 Extra ordniry/ unusual items 909,556 2,655 1,969,607 (2,740,832)PROFIT BEFORE TAXATION 299,451 (57,942) 602,069 (911,904)

6,476 (116,409) 1,250,584 3,241 271,187 160,378 (749,389) (829,532) 23,000 7,000 - (221,797) (1,212) (108,911) 100,874 136,184

PROFIT AFTER TAXATION 610,105 60,597 1,367,538 (1,828,928)

Unappropriated profit brought forward (102,742) 1,026,545 936,227 (2,823,072)Transfer from general reserve - - - -

1,203 1,204 (1,489) (24,585)

Profit available for appropriation 508,566 1,088,346 2,302,276 (4,676,585)APPROPRIATIONS - - - - Transferred to statutory reserve (122,021) 340,419 - -

500,000 - - -

500,000 - - -


Contribution to defined contribution plan- Provident Fund






Interim dividend @ 12% (2004: @ nil) (360,000) 360,000 - -

(500,000) 500,000 - - 17,979 1,200,419 - -

Unappropriated profit carried forward 526,545 2,288,765 2,302,276 (4,676,585)

Basic/ Diluted earnings per share 2 (2) 1 (3)Profit for the year 610,105 60,597 1,367,538 (1,828,928)

15,588 160,116 193,868 149,500

Transfer to reserves for issue of bonus shares


Bank Alfalah LimitedPercentage Comparative Chain Base Income Statement


DISCRIPTION 2005 2006 2007 2008

MARK-UP/ RETURNE/INTREST EARNED 117.91% 73.04% 21.67% 20.41%on loans and advances to; 112.61% 62.73% 26.32% 27.37%customers 111.42% 63.29% 24.81% 27.70%Financial institutions 373.39% 7.82% 249.48% 10.02%On investments in: 86.74% 124.97% 5.37% 4.59%Available for sales securities -8.53% 337.29% 29.16% 37.34%Held to maturity securities 173.10% 59.97% -14.05% -36.39%Held for trading #DIV/0! 656.96% -100.00% #DIV/0!

On deposits with financial institutions 412.81% 76.17% 55.96% 21.83%

952.57% -3.89% 17.37% -44.48%

195.96% 111.42% 9.11% 22.32%

Deposits(includind exchange risk fee) 259.15% 109.04% 13.05% 20.19%

-41.01% 339.17% -42.95% 26.55%Other short term borrowings 101.46% 17.49% 13.49% 104.08%Term finance certifcates 146.38% 69.90% 6.66% 8.56%Others #DIV/0! #DIV/0! #DIV/0! #DIV/0!Net mark-up/ intrest income 58.26% 18.18% 53.78% 16.94%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Specific #DIV/0! #DIV/0! #DIV/0! #DIV/0!Opening balance -15.41% -16.89% 66.19% 187.56%

#DIV/0! -100.00% #DIV/0! #DIV/0!Exchange adjustments #DIV/0! #DIV/0! -2474.29% -1320.88%Change for the year 124.55% 215.54% 292.47% 18.24%Reversals 53.86% 37.78% 34.34% 304.88%

636.64% 484.49% 384.53% -10.10%Transfer from intrest in suspense #DIV/0! -100.00% #DIV/0! #DIV/0!Amount written off 50.62% -94.95% 873.14% 257.31%Closing balance -16.89% 66.19% 187.56% 49.56%General #DIV/0! #DIV/0! #DIV/0! #DIV/0!Opening balance 239.53% 66.15% 25.46% 3.63%

#DIV/0! -100.00% #DIV/0! #DIV/0!Exchange adjustments #DIV/0! #DIV/0! 74.97% -1620.85%

On securities purchase under resale agreementMARK-UP/ RETURNE/INTREST EXPENSED





Change for the year -10.80% -32.22% -28.72% -52.23%Reversals 2140.00% -36.16% 79143.36% 16.61%

-10.86% -32.22% -80.91% -240.63%Transfer from intrest in suspense #DIV/0! #DIV/0! #DIV/0! #DIV/0!Amount written off #DIV/0! #DIV/0! #DIV/0! #DIV/0!Closing balance 66.15% 25.46% 3.63% -1.30%Total #DIV/0! #DIV/0! #DIV/0! #DIV/0!Opening balance 17.64% 14.18% 44.01% 100.31%

#DIV/0! -100.00% #DIV/0! #DIV/0!Change for the year 16.82% 64.96% 212.27% 14.23%Reversals 54.12% 37.64% 100.26% 209.83%

8.67% 73.43% 239.82% -14.12%Transfer from intrest in suspense #DIV/0! -100.00% #DIV/0! #DIV/0!Amount written off 50.62% -94.95% 873.14% 257.31%Closing balance 14.18% 44.01% 100.31% 37.07%

-1169.88% -100.00% #DIV/0! #DIV/0!

BAD DEBTS WRITTEN OFF DIRECTLY 45.87% 200.20% 280.22% 384.22%1.86% 84.18% 239.91% 49.09%

65.74% 12.81% 29.03% 5.69%

NON MARK-UP/INTREST INCOME 47.72% 44.84% 86.13% -10.35%

Fee, commission and brokerage income 71.45% 55.77% 34.60% 4.52%Dividend income -1.00% -28.11% 73.09% 364.98%

Income from dealing in forigen currencies 32.57% 33.41% 22.61% 92.80%Other income 29.97% 37.38% 201.57% -45.80%Market tresury bills #DIV/0! #DIV/0! -100.00% #DIV/0!

Postage, telex, service charges etc 56.81% 65.60% 22.72% 14.96%

0.28% 201.67% 7.15% 460.00%

-5.79% -21.44% 45.30% -4.47%

#DIV/0! #DIV/0! #DIV/0! -90.42%

Gain on sale of Pakistan Investment Bonds 144.99% -101.12% -100.00% #DIV/0!

#DIV/0! #DIV/0! -45.91% 1116.23%

Total non mark-up/ intrest income 59.41% 22.82% 51.16% -3.18%

NON MARK-UP INTREST EXPENSES #DIV/0! #DIV/0! #DIV/0! #DIV/0!


PROVISIONS FOR DIMINUTION IN THE VALUE OF INVESTMENTS


Net profit on sales of property and equipmentGain on sale of shares/ certifcates/ units listedGain on sale of shares/ certifcates/ units un-listed

Unrealized loss on revaluation of investments classified as held for trading

Administrative expenses 61.08% 36.21% 40.82% 26.58%

Non-executive director fee and allowances #DIV/0! #DIV/0! #DIV/0! 194.92%Salaries, allowances, etc 49.95% 47.38% 55.75% 23.19%

Chaing for defined benefit plan- Gratuity 69.40% 34.65% 43.78% 58.30%

56.64% 49.27% 43.35% 28.60%Brokerage and commissions 129.08% 42.82% 16.89% 9.36%

Rent, taxes, insurance, electricty, etc 63.18% 38.01% 24.74% 37.47%Legal and professional charges 15.29% 36.71% 133.21% 5.69%Communication 66.51% 25.83% 15.85% 31.22%Repair and mantinance 61.90% 49.18% 50.04% 44.04%Stationery and printing 48.18% 19.35% -2.34% 21.14%Advertisement and publicity 16.33% 26.25% 33.27% 10.81%Donations 587.72% -96.92% 897.88% -93.50%Auditors remunration 52.87% 18.86% 22.21% 100.13%Depriciation 59.27% 47.52% 38.32% 26.01%Amortization of intangibal assets 21.13% 15.72% 137.86% 166.86%

62.84% 34.88% 17.93% 37.20%Others 144.22% 6.25% 30.98% 50.25%Other provisions / write offs #DIV/0! -100.00% #DIV/0! 310.72%Other charges #DIV/0! #DIV/0! #DIV/0! #DIV/0!

1141.41% 105.20% -77.91% 1183.41%

Total non mark-up/ intrest expenses 62.14% 36.23% 40.06% 28.15%Extra ordniry/ unusual items 55.00% 0.10% 76.76% -60.43%PROFIT BEFORE TAXATION 53.31% -6.73% 74.95% -64.89%

1.10% -19.64% 262.60% 0.19%-7403.41% 59.95% -175.13% 258.03%

-76.67% -100.00% #DIV/0! #DIV/0!-13.10% -1355.12% -100.00% #DIV/0!

PROFIT AFTER TAXATION 55.87% 3.56% 77.58% -58.43%

Unappropriated profit brought forward -10.67% 119.32% 49.62% -100.00%Transfer from general reserve #DIV/0! #DIV/0! #DIV/0! #DIV/0!

5.08% 4.84% -5.71% -100.00%

Profit available for appropriation 24.47% 42.07% 62.64% -78.23%APPROPRIATIONS #DIV/0! #DIV/0! #DIV/0! #DIV/0!Transferred to statutory reserve 55.87% -100.00% #DIV/0! #DIV/0!

Bonus shares- interim @nil (2004: @25%) -100.00% #DIV/0! #DIV/0! #DIV/0!

-100.00% #DIV/0! #DIV/0! #DIV/0!

Contribution to defined contribution plan- Provident Fund





Final dividend for 2004: @ nil (2003: @ 25%)

Interim dividend @ 12% (2004: @ nil) #DIV/0! -100.00% #DIV/0! #DIV/0!

#DIV/0! -100.00% #DIV/0! #DIV/0!-1.48% -100.00% #DIV/0! #DIV/0!

Unappropriated profit carried forward 61.20% 165.03% 62.64% -78.23%

Basic/ Diluted earnings per share 47.66% -32.79% 24.62% -66.20%Profit for the year 55.87% 3.56% 77.58% -58.43%

5.56% 54.09% 42.50% 23.00%



Bank Alfalah LimitedTrends Analysis


DISCRIPTION 2005 2006 2007 2008

217.91% 377.06% 458.77% 552.41%on loans and advances to; 212.61% 345.98% 437.03% 556.65%customers 211.42% 345.23% 430.90% 550.25%Financial institutions 473.39% 510.43% 1783.86% 1962.55%On investments in: 186.74% 420.11% 442.66% 462.96%Available for sales securities 91.47% 399.97% 516.60% 709.51%Held to maturity securities 273.10% 436.86% 375.47% 238.83%Held for trading #DIV/0! #DIV/0! #DIV/0! #DIV/0!

512.81% 903.43% 1408.95% 1716.58%

1052.57% 1011.61% 1187.34% 659.19%

295.96% 625.72% 682.74% 835.14%

359.15% 750.77% 848.72% 1020.04%

58.99% 259.05% 147.78% 187.02%Other short term borrowings 201.46% 236.68% 268.61% 548.16%Term finance certifcates 246.38% 418.59% 446.48% 484.72%Others #DIV/0! #DIV/0! #DIV/0! #DIV/0!Net mark-up/ intrest income 158.26% 187.04% 287.62% 336.35%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Specific #DIV/0! #DIV/0! #DIV/0! #DIV/0!Opening balance 84.59% 70.30% 116.83% 335.95%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Exchange adjustments #DIV/0! #DIV/0! #DIV/0! #DIV/0!Change for the year 224.55% 708.53% 2780.78% 3288.13%Reversals 153.86% 211.98% 284.76% 1152.96%

736.64% 4305.61% 20862.07% 18755.40%Transfer from intrest in suspense #DIV/0! #DIV/0! #DIV/0! #DIV/0!Amount written off 150.62% 7.60% 73.95% 264.24%Closing balance 83.11% 138.12% 397.17% 593.99%General #DIV/0! #DIV/0! #DIV/0! #DIV/0!Opening balance 339.53% 564.13% 707.75% 733.45%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Exchange adjustments #DIV/0! #DIV/0! #DIV/0! #DIV/0!


On deposits with financial institutions On securities purchase under resale agreementMARK-UP/ RETURNE/INTREST EXPENSEDDeposits(includind exchange risk fee)Securities sold under repurchase agreements




Change for the year 89.20% 60.46% 43.09% 20.58%Reversals 2240.00% 1430.00% 1133180.00% 1321370.00%

89.14% 60.42% 11.53% -16.22%Transfer from intrest in suspense #DIV/0! #DIV/0! #DIV/0! #DIV/0!Amount written off #DIV/0! #DIV/0! #DIV/0! #DIV/0!Closing balance 166.15% 208.45% 216.02% 213.21%Total #DIV/0! #DIV/0! #DIV/0! #DIV/0!Opening balance 117.64% 134.33% 193.45% 387.49%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!Change for the year 116.82% 192.70% 601.75% 687.36%Reversals 154.12% 212.13% 424.80% 1316.16%

108.67% 188.46% 640.41% 549.96%Transfer from intrest in suspense #DIV/0! #DIV/0! #DIV/0! #DIV/0!Amount written off 150.62% 7.60% 73.95% 264.24%Closing balance 114.18% 164.44% 329.38% 451.50%

-1069.88% 0.00% 0.00% 68316.95%

145.87% 437.89% 1664.96% 8062.11%101.86% 187.60% 637.66% 950.67%

165.74% 186.96% 241.24% 254.96%

NON MARK-UP/INTREST INCOME 147.72% 213.96% 398.24% 357.03%

171.45% 267.06% 359.48% 375.71%Dividend income 99.00% 71.17% 123.19% 572.80%

132.57% 176.86% 216.85% 418.08%Other income 129.97% 178.56% 538.49% 291.87%Market tresury bills #DIV/0! #DIV/0! #DIV/0! #DIV/0!


100.28% 302.51% 324.13% 1815.15%

94.21% 74.01% 107.54% 102.74%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

244.99% -2.75% 0.00% 0.00%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

Total non mark-up/ intrest income 159.41% 195.80% 295.97% 286.57%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!




Fee, commission and brokerage income





#DIV/0! #DIV/0! #DIV/0! #DIV/0!Salaries, allowances, etc 149.95% 221.00% 344.21% 424.04%

169.40% 228.10% 327.95% 519.15%


Rent, taxes, insurance, electricty, etc 163.18% 225.20% 280.92% 386.18%Legal and professional charges 115.29% 157.61% 367.57% 388.47%Communication 166.51% 209.52% 242.73% 318.52%Repair and mantinance 161.90% 241.52% 362.37% 521.97%Stationery and printing 148.18% 176.84% 172.70% 209.20%Advertisement and publicity 116.33% 146.87% 195.73% 216.89%Donations 687.72% 21.20% 211.54% 13.74%Auditors remunration 152.87% 181.70% 222.06% 444.40%Depriciation 159.27% 234.96% 325.00% 409.52%Amortization of intangibal assets 121.13% 140.16% 333.40% 889.71%

162.84% 219.64% 259.02% 355.39%Others 244.22% 259.49% 339.88% 510.69%Other provisions / write offs #DIV/0! #DIV/0! #DIV/0! #DIV/0!Other charges #DIV/0! #DIV/0! #DIV/0! #DIV/0!

1241.41% 2547.41% 562.65% 7221.06%

Total non mark-up/ intrest expenses 162.14% 220.88% 309.37% 396.47%Extra ordniry/ unusual items 155.00% 155.16% 274.26% 108.53%PROFIT BEFORE TAXATION 153.31% 142.99% 250.17% 87.84%

101.10% 81.25% 294.60% 295.15%-7303.41% -11681.74% 8776.60% 31422.85%

23.33% 0.00% 0.00% 739.32%86.90% -1090.65% 0.00% 1472.42%

PROFIT AFTER TAXATION 155.87% 161.42% 286.65% 119.17%

89.33% 195.93% 293.14% 0.00%Transfer from general reserve #DIV/0! #DIV/0! #DIV/0! #DIV/0!

105.08% 110.17% 103.88% 0.00%

Profit available for appropriation 124.47% 176.82% 287.58% 62.60%APPROPRIATIONS #DIV/0! #DIV/0! #DIV/0! #DIV/0!Transferred to statutory reserve 155.87% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00%






Unappropriated profit brought forward



#DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!98.52% 0.00% 0.00% 0.00%

Unappropriated profit carried forward 161.20% 427.25% 694.86% 151.26%

Basic/ Diluted earnings per share 147.66% 99.24% 123.67% 41.80%Profit for the year 155.87% 161.42% 286.65% 119.17%

105.56% 162.66% 231.79% 285.10%

Interim dividend @ 12% (2004: @ nil)Transfer to reserves for issue of bonus shares


Bank Alfalah LimitedComparative Vertical Common Size Income Statement


DISCRIPTION 2004 2005 2006 2007

100% 100% 100% 100%on loans and advances to; 74.23% 72.42% 68.11% 70.71%customers 73.89% 71.69% 67.65% 69.40%Financial institutions 0.34% 0.73% 0.46% 1.31%On investments in: 23.48% 20.12% 26.16% 22.66%Available for sales securities 11.18% 4.69% 11.86% 12.59%Held to maturity securities 12.30% 15.42% 14.26% 10.07%Held for trading 0.00% 0.01% 0.05% 0.00%

1.46% 3.43% 3.49% 4.48%

0.83% 4.02% 2.23% 2.16%

43.32% 58.83% 71.88% 64.46%

Deposits(includind exchange risk fee) 31.94% 52.64% 63.60% 59.09%

7.09% 1.92% 4.87% 2.29%Other short term borrowings 2.78% 2.57% 1.75% 1.63%Term finance certifcates 1.50% 1.70% 1.67% 1.46%Others 0.00% 0.00% 0.00% 0.00%Net mark-up/ intrest income 56.68% 41.17% 28.12% 35.54%

0.00% 0.00% 0.00% 0.00%Specific 0.00% 0.00% 0.00% 0.00%Opening balance 17.90% 6.95% 3.34% 4.56%

0.00% 0.17% 0.00% 0.00%Exchange adjustments 0.00% 0.00% 0.00% -0.01%Change for the year 1.64% 1.69% 3.08% 9.93%Reversals -1.44% -1.02% -0.81% -0.89%

0.20% 0.67% 2.27% 9.03%Transfer from intrest in suspense 0.00% 0.03% 0.00% 0.00%Amount written off -2.96% -2.04% -0.06% -0.48%Closing balance 15.14% 5.78% 5.55% 13.11%General 0.00% 0.00% 0.00% 0.00%Opening balance 2.67% 4.16% 3.99% 4.11%

0.00% 0.14% 0.00% 0.00%Exchange adjustments 0.00% 0.00% -0.01% -0.01%


On deposits with financial institutions On securities purchase under resale agreementMARK-UP/ RETURNE/INTREST EXPENSED





Change for the year 6.39% 2.62% 1.02% 0.60%Reversals 0.00% 0.00% 0.00% -0.44%

6.39% 2.61% 1.02% 0.16%Transfer from intrest in suspense 0.00% 0.00% 0.00% 0.00%Amount written off 0.00% 0.00% 0.00% 0.00%Closing balance 9.06% 6.90% 5.01% 4.26%Total 0.00% 0.00% 0.00% 0.00%Opening balance 20.57% 11.11% 7.33% 8.67%

0.00% 0.31% 0.00% 0.00%Change for the year 8.03% 4.30% 4.10% 10.53%Reversals -1.44% -1.02% -0.81% -1.33%

6.59% 3.28% 3.29% 9.20%Transfer from intrest in suspense 0.00% 0.03% 0.00% 0.00%Amount written off -2.96% -2.04% -0.06% -0.48%Closing balance 24.20% 12.68% 10.55% 17.37%

0.04% -0.19% 0.00% 0.00%

0.01% 0.00% 0.01% 0.02%6.63% 3.10% 3.30% 9.22%

50.05% 38.07% 24.82% 26.32%

27.05% 18.33% 15.35% 23.48%

Fee, commission and brokerage income 12.03% 9.46% 8.52% 9.42%Dividend income 0.93% 0.42% 0.18% 0.25%

3.89% 2.37% 1.83% 1.84%Other income 10.19% 6.08% 4.83% 11.96%Market tresury bills 0.00% 0.00% -0.01% 0.00%


0.08% 0.04% 0.06% 0.05%

4.38% 1.89% 0.86% 1.03%

0.00% 0.00% 0.00% 6.94%

0.06% 0.06% 0.00% 0.00%

0.00% 0.00% -0.13% -0.06%

Total non mark-up/ intrest income 77.10% 56.40% 40.03% 49.74%

0.00% 0.00% 0.00% 0.00%



NET MARK-UP/ INTREST INCOME AFTER PROVISIONSNON MARK-UP/INTREST INCOME





0.00% 0.00% 0.00% 0.02%Salaries, allowances, etc 18.25% 12.56% 10.70% 13.70%

0.49% 0.38% 0.30% 0.35%


Rent, taxes, insurance, electricty, etc 5.78% 4.33% 3.45% 3.54%Legal and professional charges 0.75% 0.40% 0.31% 0.60%Communication 2.24% 1.71% 1.25% 1.19%Repair and mantinance 1.96% 1.46% 1.26% 1.55%Stationery and printing 1.39% 0.95% 0.65% 0.52%Advertisement and publicity 4.34% 2.31% 1.69% 1.85%Donations 0.30% 0.96% 0.02% 0.14%Auditors remunration 0.05% 0.04% 0.02% 0.02%Depriciation 5.24% 3.83% 3.26% 3.71%Amortization of intangibal assets 0.21% 0.12% 0.08% 0.15%

2.26% 1.69% 1.32% 1.28%Others 1.28% 1.43% 0.88% 0.95%Other provisions / write offs 0.00% 0.08% 0.00% 0.03%Other charges 0.00% 0.00% 0.00% 0.00%

0.03% 0.17% 0.20% 0.04%

Total non mark-up/ intrest expenses 47.67% 35.47% 27.93% 32.15%Extra ordniry/ unusual items 29.42% 20.93% 12.11% 17.59%PROFIT BEFORE TAXATION 10.00% 7.03% 3.79% 5.45%

10.43% 4.84% 2.25% 6.70%-0.07% 2.18% 2.02% -1.25%-0.53% -0.06% 0.00% 0.00%0.16% 0.07% -0.48% 0.00%

PROFIT AFTER TAXATION 19.43% 13.90% 8.32% 12.14%

Unappropriated profit brought forward 17.14% 7.02% 8.90% 10.95%Transfer from general reserve 0.00% 0.00% 0.00% 0.00%

0.42% 0.20% 0.12% 0.10%

Profit available for appropriation 36.99% 21.13% 17.34% 23.18%APPROPRIATIONS 0.00% 0.00% 0.00% 0.00%Transferred to statutory reserve -3.89% -2.78% 0.00% 0.00%

-8.90% 0.00% 0.00% 0.00%

-8.90% 0.00% 0.00% 0.00%








Interim dividend @ 12% (2004: @ nil) 0.00% -2.94% 0.00% 0.00%

0.00% -4.08% 0.00% 0.00%-21.68% -9.80% 0.00% 0.00%

Unappropriated profit carried forward 15.31% 11.32% 17.34% 23.18%

Basic/ Diluted earnings per share 0.00% 0.00% 0.00% 0.00%Profit for the year 19.43% 13.90% 8.32% 12.14%

4.99% 2.42% 2.15% 2.52%



Bank Alfalah LimitedComparative Vertical Common Size Income Statement


2008

100%74.80%73.60%

1.20%19.68%14.36%

5.32%0.00%

4.53%

0.99%

65.49%

58.98%

2.40%2.76%1.32%0.03%

34.51%

0.00%0.00%

10.89%

0.00%0.07%9.75%

-3.00%6.75%0.00%

-1.42%16.28%

0.00%3.54%

0.00%0.14%

0.24%-0.43%-0.19%0.00%0.00%3.50%0.00%

14.43%

0.00%9.99%

-3.43%6.56%0.00%

-1.42%19.78%

4.76%

0.09%11.41%

23.10%

17.48%

8.18%0.97%

2.95%5.39%0.00%

3.77%

0.25%

0.81%

0.55%

0.00%

-0.58%

40.00%

0.00%

33.73%

0.05%14.01%

0.46%

0.47%1.89%

4.04%0.53%1.29%1.85%0.53%1.70%0.01%0.04%3.88%0.34%

1.46%1.18%0.09%0.00%

0.40%

34.22%5.78%1.59%5.57%

-3.71%-0.71%0.44%4.19%

0.00%0.00%

0.00%

4.19%0.00%0.00%

0.00%

0.00%

0.00%

0.00%0.00%

4.19%

0.00%4.19%

2.58%

2004 2005 2006 2007

1. Net Working CapitalCurrent Asset - Current Liabilities

150554030 241693726 265182551 316972828

134673906 231297857 249906022 286843944

15880124 10395869 15276529 30128884

2. Current RatioCurrent Asset

Current Liabilities

150554030 241693726 265182551 316972828

134673906 231297857 249906022 286843944

1.12 1.04 1.06 1.11

3.Sales to Working CapitalSales

Working Capuital

Sales 5,620,203 12,246,811 21191470 25783871

15880124 10395869 15276529 30128884

0.35 1.18 1.39 0.86

Current AssetCurrent Liabilities


Working Capital

4. Time Intrest EarnedEBIT

Intrest Charges

EBIT 4088193 9768282 17798831 21156515

2,434,459 7,204,992 15232886 16620963

1.68 1.36 1.17 1.27

5.Debt RatioTotal Debt

Total Assets

Total Debt 149,573,050 240,849,667 263443596 312675308

Total Asset 154,834,534 248,313,793 275685541 328895152

0.97 0.97 0.96 0.95

6.Debt to Equity RatioTotal Debt

Total Equity

Total Debt 149573050 240849667 263443596 312675308

4369072 6738063 10572605 13766673

34.23 35.74 24.92 22.71

Intrest Charges

Total Equity

Current WorthNet Worth

15880124 10395869 15276529 30128884Net Worth 5,261,484 7,464,126 12241945 16219844

3.02 1.39 1.25 1.86

8.Total Capitlization RatioLong-Term Debt

Long-Term Debt+SHE

LTD 14899144 9551810 13537574 25831364LTD+SHE 19268216 16289873 24110179 39598037

0.77 0.59 0.56 0.65

Long-term AssetLong-term Debt

4,280,504 6,620,067 10502990 11922324

14899144 9551810 13537574 25831364

0.29 0.69 0.78 0.46

10. Debt Coverage ratioNet Operating Income

7. Current Worth to Net worth Ratio

Current worth

9.Long-Term Assets versus long-term Debt

Long term assetLong term Debt

10. Debt Coverage ratio Total Debt

14574192 15118049Total debt 149,573,050 240,849,667 263443596 312675308

0.00 0.00 0.06 0.05

11.Net Profit MarginNet Profit

sales

Net Profit 1,091,989 1,702,094 1762691 3130229sales 5,620,203 12,246,811 21191470 25783871

19.43% 13.90% 8.32% 12.14%

12. Operating Income MarginOperating Income

Net Sales

14574192 15118049Net sales 5,620,203 12,246,811 21191470 25783871

0.00% 0.00% 68.77% 58.63%

13. Return on Asset(ROA)Net Proft

Total asset

1,091,989 1,702,094 1762691 3130229

Net operating Income

Operating Income

Profit after Taxation

154,834,534 248,313,793 275685541 328895152

0.71% 0.69% 0.64% 0.95%

14.Return on Equity(ROE)Net Profit

Total Equity

1,091,989 1,702,094 1762691 3130229

4369072 6738063 10572605 13766673

24.99% 25.26% 16.67% 22.74%

15. Operating Asset TurnoverOperating Asset

Net Sales

27172979 41122061 51094302 59739440Net sales 5,620,203 12,246,811 21191470 25783871

0.21 0.30 0.41 0.43

16.Return on Operating AssetNet Profit

Operating Asset

1,091,989 1,702,094 1762691 3130229

27172979 41122061 51094302 59739440

Avg total Asset

Profit after taxationTotal equity

Operating Asset

Net Profit

Operating Assets

4.02% 4.14% 3.45% 5.24%

17.Sales to Fix AssetNet Sales

Total Fixed Asset

Net Sales 5,620,203 12,246,811 21191470 25783871

4,280,504 6,620,067 10502990 11922324

1.31 1.85 2.02 2.16

18. Total Asset TurnoverNet Sales

Total Assets

5,620,203 12,246,811 21191470 25783871

154,834,534 248,313,793 275685541 328895152

0.04 0.05 0.08 0.08

19. Earning Per ShareProfit After Taxation

No of Shares

PAT 1,091,989 1,702,094 1762691 3130229N O S 250000 300000 500000 650000

4.37 5.67 3.53 4.82

Fixed Asset

Total SalesTotal Asset

Inverstor's Analysis

20. Price / Earning Ratio Stock Price Per SharesEarning Per Share

SPPS 10 10 10 10EPS 4.365 5.665 3.525 4.815

2.29 1.77 2.84 2.08

21. Dividend Payout RatioDividend Per ShareEarning Per Share

DPS 0 0EPS 4.365 5.665 3.525 4.815

0.00 0.00 0.00 0.00

22.Dividend YieldDividend Per Shares

Share Price

DPS 0 0SP 10 10 10 10

0.00 0.00 0.00 0.00

2008

Current Asset - Current Liabilities

335217471

315476169

19741302


335217471

315476169

1.06

SalesWorking Capuital

31046583

19741302

1.57

2004 2005 2006 2007 20080

5000000

10000000

15000000

20000000

25000000

30000000

35000000

Net Working Capital

2004 2005 2006 2007 20081.00

1.02

1.04

1.06

1.08

1.10

1.12

1.14

Current Ratio

2004 2005 2006 2007 20080.000.200.400.600.801.001.201.401.601.80

Sales to Working Capital

EBITIntrest Charges

22125914

20331194

1.09

Total DebtTotal Assets

331946025

348990764

0.95

Total DebtTotal Equity

331946025

14608523

22.72

2004 2005 2006 2007 20080.000.200.400.600.801.001.201.401.601.80

Time In-terest Earned

2004 2005 2006 2007 20080.94

0.95

0.96

0.97

0.98

Debt Ratio

2004 2005 2006 2007 20080.005.00

10.0015.0020.0025.0030.0035.0040.00

Debt to Equity Ratio

Current WorthNet Worth

1974130217044739

1.16

Long-Term DebtLong-Term Debt+SHE

1646985631078379

0.53

Long-term AssetLong-term Debt

13773293

16469856

0.84

Net Operating Income

2004 2005 2006 2007 20080.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

Current Worth to Networth

2004 2005 2006 2007 20080.000.100.200.300.400.500.600.700.800.90

Total Capital-ization

2004 2005 2006 2007 20080.000.100.200.300.400.500.600.700.800.90

Long term asset vs Long term debt

2004 2005 2006 2007 20080.00

0.01

0.02

0.03

0.04

0.05

0.06

Debt cov-erage ratio

Total Debt

16880487331946025

0.05

100*1301301

31046583

4.19%

100*

1688048731046583

54.37%

*100

1301301

2004 2005 2006 2007 20080.00%

5.00%

10.00%

15.00%

20.00%

25.00%

Net Profit Margin

2004 2005 2006 2007 20080.00%0.10%0.20%0.30%0.40%0.50%0.60%0.70%0.80%0.90%1.00%

Return on Assets

1 2 3 4 50.00%

10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%

Row 171

2004 2005 2006 2007 20080.00

0.01

0.02

0.03

0.04

0.05

0.06

Debt cov-erage ratio

348990764

0.37%

*100

1301301

14608523

8.91%

*100

6804167131046583

0.46

*1001301301

68041671

2004 2005 2006 2007 20080.00%0.10%0.20%0.30%0.40%0.50%0.60%0.70%0.80%0.90%1.00%

Return on Assets

2004 2005 2006 2007 20080.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

Return on equity

2004 2005 2006 2007 20080.000.050.100.150.200.250.300.350.400.450.50

Operating assets turnover

2004 2005 2006 2007 20080.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

Return on operating assets

1.91%

Net SalesTotal Fixed Asset

31046583

13773293

2.25

Net Sales `Total Assets

31046583

348990764

0.09

Profit After TaxationNo of Shares

1301301799500

1.63

2004 2005 2006 2007 20080.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

Return on operating assets

2004 2005 2006 2007 20080.00

0.50

1.00

1.50

2.00

2.50

Sales to fixed assets

2004 2005 2006 2007 20080.000.010.020.030.040.050.060.070.080.090.10

Total as-sets turnover

2004 2005 2006 2007 20080.00

1.00

2.00

3.00

4.00

5.00

6.00

Earning per share

Inverstor's Analysis

Stock Price Per SharesEarning Per Share

101.627

6.15

Dividend Per ShareEarning Per Share

1.211.627

0.74

Dividend Per SharesShare Price

1.2110

0.12

2004 2005 2006 2007 20080.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

Dividend yield

2004 2005 2006 2007 20080.00

1.00

2.00

3.00

4.00

5.00

6.00

Earning per share

2004 2005 2006 2007 20080.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

Price earning ratio

2004 2005 2006 2007 20080.000.100.20

0.30

0.400.50

0.600.70

0.80

Dividend Payout

2004 2005 2006 2007 20080.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

Dividend yield

bank al-falah 5 year income statement, balance sheet and ratio analysis

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