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Bank Alfalah Limited

Summarized Balance Sheet


As on December 31,

Discription 2004 2005 2006


Assets 154,834,534 248,313,793 275,685,541
CASH AND BALANCE WITH
TREASURY BANKS 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
Account 13,132,499 14,334,985 16,077,606
Account 655,193 939,111 939,560
Account 1,793,320 2,365,555 2,318,183
With other central banks in - 1,376,234 2,501,514
account - 285,085 1,515,185
account - 1,091,149 986,329
Pakistan In 657,836 1,332,693 1,151,358
Account 657,836 1,332,693 1,151,358
National prize
BALANCE WITHBonds
OTHER - 9,445 14,034
BANKS 3,183,957 9,713,369 12,731,952
In Pakistan 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
LENDINGS TO FINANCIAL
INSTITUTIONS - 27,050,493 12,456,653
Call money lendings - 790,000 2,589,788
Repurchase agreement
lendings(Reverse repo) - 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
securities 4,433,935 8,792,276 23,878,490
treasury Bills - 5,534,534 19,981,883
pakistan investment Bonds 3,328,439 2,151,343 1,859,240
Fedral Investment Bonds 15,598 - -
Fully paid up ordnary shares /
units- listed 512,034 597,738 615,886
Fully paid up ordnary shares /
units- un-listed - 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 - -
Share of Pakistan Export
Finance Gurantee Agency Ltd 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 -
Fully paid up ordnary shares
of Listed Companies 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 - - -
Alfalah GHP Investment
management ltd - - -
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
Less: Provision for diminution
in value of investments - - -
provisions)
surplus/(Defecit) on 29,611,223 57,189,918 55,471,335
revaluation of held on trading
securities
Provision for diminution in 138,471 20,998 (6,601)
value of held for trading
investment (2,165) (49,988) (63,548)
(Deficit) on revaluation of
securities-associate - - (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
pakistan investment Bonds 877,420 - -
Fedral Investment Bonds - - -
Fully paid up ordnary shares-
Listed - - -
Fully paid up ordinary shares
-unlisted - - -
Term finance sertifcates - - -
Certifcates of Investments - - -
Prize Bonds - - -
Swift Shares - - -
Share of Pakistan Export
Finance Gurantee Agency Ltd - - -
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
Fully paidbills
up ordnary shares of - - -
listed companies - - -
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 - - -
Alfalah GHP Investment
management ltd - - -
Subsidiaries - - -
Alfalah Securities (pvt) Ltd - - -
Alfalah GHP Investment - - -
Management Ltd - - -
Investment Cost 5,735,318 255,327 1,681,213
Less: Provision for diminution
in value of investments - - -
provisions)
surplus/(Defecit) on 5,735,318 255,327 1,681,213
revaluation of held on trading
securities
Provision for diminution in 20,349 - -
value of held for trading
investment - - (816)
(Deficit) on revaluation of
securities-associate - - -
Total 35,503,196 57,416,255 56,502,210
securities 5,311,355 8,792,276 25,559,703
treasury Bills - 5,534,534 21,663,096
pakistan investment Bonds 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
Term finance sertifcates 362,043 326,423 1,291,660
Certifcates of Investments 205,168 105,259 -
Prize Bonds 4,297 - -
Swift Shares 631 - -
Share of Pakistan Export
Finance Gurantee Agency Ltd 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
Fully paid up ordnary shares of
listed companies 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 - - -
Alfalah GHP Investment
management ltd - - -
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
Less: Provision for diminution
in value of investments - - -
provisions)
surplus/(Defecit) on 35,346,541 57,445,245 57,152,548
revaluation of held on trading
securities
Provision for diminution in 158,820 20,998 (6,601)
value of held for trading
investment (2,165) (49,988) (64,364)
(Deficit) on revaluation of
securities-associate - - (579,373)
ADVANCES 88,931,400 118,864,010 149,999,325
Loans, cash credits,
running finances, etc. 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
Net investment in Finance
Lease/Ijarah financing 6,374,637 12,158,131 14,289,817
Payable in pakistan 6,374,637 12,158,131 14,289,817
Payable
Bills outside pakistan
discounted and - - -
purchased(excluding
treasury bills) 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
provisions for non-performing
advances (1,360,057) (1,552,981) (2,236,456)
General provision against
consumer financings - - -
OTHER ASSETS 3,226,959 3,851,529 5,633,051
Income/ Mark-up accrued in
local currency 1,330,454 2,423,566 3,407,048
Income/ Mark-up accrued in
foreign currency 22,325 107,158 162,588
Advances, deposits, advance
rent and other payments 752,856 1,137,084 1,596,153
Advance taxation - 142,483 446,791
Dividend receiveable 413 60 943
Branch adjustment account 947,883 - -
Unrealised gain on forward
foreign exchange contracts 29,994 26,095 25,002
Asset accuired in satisfaction
of claims
Prepaid exchange risk fee 3,552 1,628 5,277
hands 32,032 49,258 66,771
Short term receivables 1,328 1,824 -
rights - 400 160
Receivable from brokers 246,558 116,289 200,497
Others - - -
3,367,395 4,005,845 5,911,230
Less: Provision held against
other assets (9,619) (10,071) (9,674)
Less: Markup held in suspense
account (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
Deferred tax assets - - -

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

BORROWINGS
FROMFINANCIAL INSTITUTION 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
DEPOSITS AND OTHER
ACCOUNTS 129,714,891 222,345,067 239,509,391
Customer
Fixed deposits 21,892,081 80,167,779 88,851,222
Saving deposits 65,965,795 81,057,975 78,893,481
Current accounts- Remunerative - - -
Current accounts- Non-
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 Institutions
Remunerative 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
Term Finance Certificates I -
Quoted, Unsecured 649,480 649,220 648,960
Term Finance Certificates II -
Quoted, Unsecured 1,250,000 1,249,520 1,249,040
Term Finance Certificates III -
Quoted, Unsecured - 1,324,615 1,324,106

LIABILITIES AGAINST ASSETS


SUBJECT TO FINANCE LEASE - - -
OTHER LIABILITIES 2,725,344 5,219,666 7,305,496
Mark-up/ return/intrest payable in
local currency 701,230 1,783,284 2,733,874
Mark-up/ return/intrest payable in
foreign currency 37,154 97,558 205,197
Unearned commition and incom on
bills discounted 88,495 118,326 119,971
Accrued expanses 280,216 138,381 158,506
Current taxtion - - -
Payable against redemption of
credit card reward point - 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 - - -
Exchange difference payable to
SBP 6,693 13,099 8
Payable to brokers 384,043 98,959 49,162
Unrealised loss on forward
exchange contracts - - -
Provision against off-balance
sheet obligations - - -
Workers welfare fund - - -
Others 150,581 220,239 287,256
DEFERRED TAX LIABILITIES (275,834) (484,066) (1,921,338)
Deferred debits arising in
respect of:
Provision for doubtful debts 729,330 883,798 1,187,667

Excess of tax WDV over


accounting WDV of Fixed assets 21,720 - -
Deficit on revaluation of assets - 18,803 213,257
Licence fee charged off 14,053 13,475 -
Provisions against off balance
sheet obligations - - -
Provisions 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 - - -

Deficit on revaluation of securities - - -


765,103 916,076 1,400,924
Deferrd credit arising in respect
of:
Write offs/ reversals of provision
for bad debts (450401) (563,178) (688974)
Leasing operations (119135) (356,921) (665463)
Excess of accounting net book
value over tax written down value
of fixed assets - (72,414) (837272)
Difference between accounting
book value of leased asset and
lease liabilities - - -
Accelerated tax deprecation - - -
Surplus on revaluation of fixed
asset (422,874) (407,629) (1130553)
Surplus on revaluation of
securities (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
400,000,000 Ordinary shares of
Rs 10 each 4,000,000 4,000,000 8,000,000

Issued, subscribed and paid up


75,000,000 Ordinary shares of
Rs10 each fully paid in cash 750,000 750,000 2,250,000
175,000,000 Bonus Shares issued
during the year 1,750,000 1,750,000 2,750,000
50,000,000 Right 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
SURPLUS ON REVALUATION
OF ASSETS 892,412 726,063 1,669,340
Surplus arising on revaluation of
fixed assets 782,118 757,248 2,099,820
Surplus arising on revaluation of
Securities 110,294 (31,185) (53,887)
Surplus arising on revaluation of
investment in associate - - (376,593)
Bank Alfalah Limit
et Comparative Chain Base Ba
As on December 3

2007 2008 Discription


328,895,152 348,990,764 Assets
CASH AND BALANCE WITH
29,436,378 32,687,335 TREASURY BANKS
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 Account
1,036,674 1,399,973 Account
929,357 3,605,236 Account
2,923,250 4,349,234 With other central banks in
1,413,622 2,108,534 account
1,509,628 2,240,700 account
1,323,806 2,590,762 Pakistan In
1,323,806 2,590,762 Account
21,370 15,130 National prize
BALANCE WITHBonds
OTHER
18,380,738 21,581,043 BANKS
2,202,233 4,458,491 In Pakistan
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
LENDINGS TO FINANCIAL
3,452,059 3,315,500 INSTITUTIONS
997,582 3,315,500 Call money lendings
Repurchase agreement
2,454,477 - lendings(Reverse repo)
88,491,564 75,973,238 INVEST MENT S
73,783,080 71,115,890 Held By Bank
36,632,045 33,701,492 securities
32,763,607 25,350,662 treasury Bills
375,592 458,280 pakistan investment Bonds
- - Fedral Investment Bonds
Fully paid up ordnary shares /
2,289,220 4,274,461 units- listed
Fully paid up ordnary shares /
129,821 129,821 units- un-listed
1,073,805 1,388,391 Term finance sertifcates
- - Certifcates of Investments
- - Prize Bonds
- - Swift Shares
Share of Pakistan Export
- - Finance Gurantee Agency Ltd
- 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
Fully paid up ordnary shares
550,932 10,200 of Listed Companies
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
Alfalah GHP income multiplier
550,000 550,000 fund
250,000 250,000 Alfalah GHP Islamic fund
Alfalah GHP Investment
130,493 130,493 management ltd
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
Less: Provision for diminution
- (1,479,062) in value of investments
73,825,758 71,268,422 provisions)
surplus/(Defecit) on
revaluation of held on trading
(21,530) 1,068 securities
Provision for diminution in
value of held for trading
(21,148) (153,600) investment
(Deficit) on revaluation of
- - securities-associate
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 pakistan investment Bonds
- - Fedral Investment Bonds
Fully paid up ordnary shares-
- - Listed
Fully paid up ordinary shares
- - -unlisted
- - Term finance sertifcates
- - Certifcates of Investments
- - Prize Bonds
- - Swift Shares
Share of Pakistan Export
- - Finance Gurantee Agency Ltd
- - 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
Fully paidbills
up ordnary shares of
- - listed companies
- - 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
Alfalah GHP Investment
- - management ltd
- - Subsidiaries
- - Alfalah Securities (pvt) Ltd
- - Alfalah GHP Investment
- - Management Ltd
14,742,700 4,907,993 Investment Cost
Less: Provision for diminution
- - in value of investments
14,742,700 4,907,993 provisions)
surplus/(Defecit) on
revaluation of held on trading
- - securities
Provision for diminution in
value of held for trading
(34,216) (50,645) investment
(Deficit) on revaluation of
- - securities-associate
88,491,564 75,973,238 Total
51,374,745 38,609,485 securities
47,447,516 30,199,154 treasury Bills
434,383 517,781 pakistan investment Bonds
- - 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
Share of Pakistan Export
- - Finance Gurantee Agency Ltd
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
Fully paid up ordnary shares of
550,932 10,200 listed companies
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
Alfalah GHP income multiplier
550,000 550,000 fund
250,000 250,000 Alfalah GHP Islamic fund
Alfalah GHP Investment
130,493 130,493 management ltd
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
Less: Provision for diminution
- (1,479,062) in value of investments
88,568,458 76,176,415 provisions)
surplus/(Defecit) on
revaluation of held on trading
(21,530) 1,068 securities
Provision for diminution in
value of held for trading
(55,364) (204,245) investment
(Deficit) on revaluation of
- - securities-associate
171,198,992 192,671,169 ADVANCES
Loans, cash credits,
152,706,236 179,066,461 running finances, etc.
145,107,469 169,059,162 in Pakistan
7,598,767 10,007,299 Outside Pakistan
Net investment in Finance
15,824,501 14,118,406 Lease/Ijarah financing
15,824,501 14,118,406 Payable in pakistan
- - Payable
Bills outside pakistan
discounted and
purchased(excluding
7,148,073 5,626,985 treasury bills)
1,579,472 1,092,683 Payable in pakistan
5,568,601 4,534,302 Payable outside pakistan
provisions for non-performing
(3,380,409) (5,055,598) advances
General provision against
(1,099,409) (1,085,085) consumer financings
6,013,097 8,989,186 OTHER ASSETS
Income/ Mark-up accrued in
4,058,539 7,309,047 local currency
Income/ Mark-up accrued in
368,151 302,222 foreign currency
Advances, deposits, advance
2,080,789 2,509,701 rent and other payments
- - Advance taxation
8,464 11,169 Dividend receiveable
32,919 - Branch adjustment account
Unrealised gain on forward
26,506 - foreign exchange contracts
Asset accuired in satisfaction
48,884 23,146 of claims
2,111 2,290 Prepaid exchange risk fee
70,926 81,333 hands
- - Short term receivables
- - rights
27 6 Receivable from brokers
- - Others
6,697,316 10,238,914
Less: Provision held against
(9,674) (9,674) other assets
Less: Markup held in suspense
(674,545) (1,240,054) account
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
- - Deferred tax 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

BORROWINGS
21,230,697 13,690,222 FROMFINANCIAL INSTITUTION
20,602,695 13,004,055 In pakistan
628,002 686,167 outside pakistan
DEPOSITS AND OTHER
273,173,841 300,732,858 ACCOUNTS
Customer
85,520,839 116,688,618 Fixed deposits
107,879,576 86,416,689 Saving deposits
- - Current accounts- Remunerative
Current accounts- Non-
67,604,689 78,316,246 remunerative
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
Term Finance Certificates I -
648,700 - Quoted, Unsecured
Term Finance Certificates II -
1,248,560 1,248,080 Quoted, Unsecured
Term Finance Certificates III -
1,323,598 1,323,089 Quoted, Unsecured

LIABILITIES AGAINST ASSETS


- - SUBJECT TO FINANCE LEASE
9,531,860 11,291,280 OTHER LIABILITIES
Mark-up/ return/intrest payable in
3,130,081 4,103,569 local currency
Mark-up/ return/intrest payable in
371,360 360,133 foreign currency
Unearned commition and incom on
147,231 151,561 bills discounted
388,155 431,803 Accrued expanses
760,873 1,057,727 Current taxtion
Payable against redemption of
177,557 199,409 credit card reward point
- 14,028 Branch adjustment account
- - Taxtion
4,189,049 4,321,506 Lease security deposit
- - Payable to defined benefit plan
Exchange difference payable to
34,840 45,246 SBP
1,011 19 Payable to brokers
Unrealised loss on forward
- 180,845 exchange contracts
Provision against off-balance
6,959 38,142 sheet obligations
- 106,621 Workers welfare fund
324,744 280,671 Others
1,379,809 208,465 DEFERRED TAX LIABILITIES
Deferred debits arising in
respect of:
(1,222,335) (1,802,452) Provision for doubtful debts

Excess of tax WDV over


- - accounting WDV of Fixed assets
- - Deficit on revaluation of assets
- - Licence fee charged off
Provisions against off balance
- (4,969) sheet obligations
Provisions for diminution in value
- (517,703) of investment
Unrealised loss on revaluation of
investments classified as held for
trading / transferred from held for
- (63,550) trading to available for sale

(28,300) (71,488) Deficit on revaluation of securities


(1,250,635) (2,460,162)
Deferrd credit arising in respect
of:
Write offs/ reversals of provision
- - for bad debts
- - Leasing operations
Excess of accounting net book
value over tax written down value
- - of fixed assets
Difference between accounting
book value of leased asset and
935,251 778,188 lease liabilities
982,878 1,304,686 Accelerated tax deprecation
Surplus on revaluation of fixed
712,315 585,753 asset
Surplus on revaluation of
- - securities
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
400,000,000 Ordinary shares of
8,000,000 1,500,000,000 Rs 10 each

Issued, subscribed and paid up


75,000,000 Ordinary shares of
2,250,000 2,250,000 Rs10 each fully paid in cash
175,000,000 Bonus Shares issued
4,250,000 5,745,000 during the year
50,000,000 Right shares issued
- - during the year
2,414,833 3,166,056 RESERVES
4,851,840 3,447,467 UNAPPROPRIATED PROFIT
13,766,673 14,608,523
SURPLUS ON REVALUATION
2,453,171 2,436,216 OF ASSETS
Surplus arising on revaluation of
2,480,235 2,568,973 fixed assets
Surplus arising on revaluation of
(27,064) (132,757) Securities
Surplus arising on revaluation of
- - investment in associate
Bank Alfalah Limited
Comparative 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 Limited
Percentage Comparative Chain Base Balance Sheet
As on December 31,

Discription 2005 2006 2007 2008


Assets 60.37% 11.02% 19.30% 6.11%
CASH AND BALANCE WITH
TREASURY BANKS 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%
Account 9.16% 12.16% 3.04% -31.24%
Account 43.33% 0.05% 10.34% 35.04%
Account 31.91% -2.00% -59.91% 287.93%
With other central banks in #DIV/0! 81.77% 16.86% 48.78%
account #DIV/0! 431.49% -6.70% 49.16%
account #DIV/0! -9.61% 53.06% 48.43%
Pakistan In 102.59% -13.61% 14.98% 95.71%
Account 102.59% -13.61% 14.98% 95.71%
National prize
BALANCE WITHBonds
OTHER #DIV/0! 48.59% 52.27% -29.20%
BANKS 205.07% 31.08% 44.37% 17.41%
In Pakistan 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%
LENDINGS TO FINANCIAL
INSTITUTIONS #DIV/0! -53.95% -72.29% -3.96%
Call money lendings #DIV/0! 227.82% -61.48% 232.35%
Repurchase agreement
lendings(Reverse repo) #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%
securities 98.30% 171.58% 53.41% -8.00%
treasury Bills #DIV/0! 261.04% 63.97% -22.63%
pakistan investment Bonds -35.36% -13.58% -79.80% 22.02%
Fedral Investment Bonds -100.00% #DIV/0! #DIV/0! #DIV/0!
Fully paid up ordnary shares /
units- listed 16.74% 3.04% 271.70% 86.72%
Fully paid up ordnary shares /
units- un-listed #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!
Share of Pakistan Export
Finance Gurantee Agency Ltd -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!
Fully paid up ordnary shares
of Listed Companies 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%
Alfalah GHP Investment
management ltd #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%
Less: Provision for diminution
in value of investments #DIV/0! #DIV/0! #DIV/0! #DIV/0!
provisions)
surplus/(Defecit) on 93.14% -3.01% 33.09% -3.46%
revaluation of held on trading
securities
Provision for diminution in -84.84% -131.44% 226.16% -104.96%
value of held for trading
investment 2208.91% 27.13% -66.72% 626.31%
(Deficit) on revaluation of
securities-associate #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%
pakistan investment Bonds -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!
Fully paid up ordinary shares
-unlisted #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!
Share of Pakistan Export
Finance Gurantee Agency Ltd #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
Fully paidbills
up ordnary shares of #DIV/0! #DIV/0! #DIV/0! #DIV/0!
listed companies #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!
Alfalah GHP Investment
management ltd #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%
Less: Provision for diminution
in value of investments #DIV/0! #DIV/0! #DIV/0! #DIV/0!
provisions)
surplus/(Defecit) on -95.55% 558.45% 776.91% -66.71%
revaluation of held on trading
securities
Provision for diminution in -100.00% #DIV/0! #DIV/0! #DIV/0!
value of held for trading
investment #DIV/0! #DIV/0! 4093.14% 48.02%
(Deficit) on revaluation of
securities-associate #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Total 61.72% -1.59% 56.62% -14.15%
securities 65.54% 190.71% 101.00% -24.85%
treasury Bills #DIV/0! 291.42% 119.02% -36.35%
pakistan investment Bonds -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!
Share of Pakistan Export
Finance Gurantee Agency Ltd -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%
Fully paid up ordnary shares of
listed companies 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%
Alfalah GHP Investment
management ltd #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%
Less: Provision for diminution
in value of investments #DIV/0! #DIV/0! #DIV/0! #DIV/0!
provisions)
surplus/(Defecit) on 62.52% -0.51% 54.97% -13.99%
revaluation of held on trading
securities
Provision for diminution in -86.78% -131.44% 226.16% -104.96%
value of held for trading
investment 2208.91% 28.76% -13.98% 268.91%
(Deficit) on revaluation of
securities-associate #DIV/0! #DIV/0! -100.00% #DIV/0!
ADVANCES 33.66% 26.19% 14.13% 12.54%
Loans, cash credits,
running finances, etc. 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%
Net investment in Finance
Lease/Ijarah financing 90.73% 17.53% 10.74% -10.78%
Payable in pakistan 90.73% 17.53% 10.74% -10.78%
Payable
Bills outside pakistan
discounted and #DIV/0! #DIV/0! #DIV/0! #DIV/0!
purchased(excluding
treasury bills) 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%
provisions for non-performing
advances 14.18% 44.01% 51.15% 49.56%
General provision against
consumer financings #DIV/0! #DIV/0! #DIV/0! -1.30%
OTHER ASSETS 19.35% 46.25% 6.75% 49.49%
Income/ Mark-up accrued in
local currency 82.16% 40.58% 19.12% 80.09%
Income/ Mark-up accrued in
foreign currency 379.99% 51.73% 126.43% -17.91%
Advances, deposits, advance
rent and other payments 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%
Unrealised gain on forward
foreign exchange contracts -13.00% -4.19% 6.02% -100.00%
Asset accuired in satisfaction
of claims #DIV/0! #DIV/0! #DIV/0! -52.65%
Prepaid exchange risk fee -54.17% 224.14% -60.00% 8.48%
hands 53.78% 35.55% 6.22% 14.67%
Short term receivables 37.35% -100.00% #DIV/0! #DIV/0!
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%
Less: Provision held against
other assets 4.70% -3.94% 0.00% 0.00%
Less: Markup held in suspense
account 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%
Deferred tax assets #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%

BORROWINGS
FROMFINANCIAL INSTITUTION -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%
DEPOSITS AND OTHER
ACCOUNTS 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!
Current accounts- Non-
remunerative 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%
Term Finance Certificates I -
Quoted, Unsecured -0.04% -0.04% -0.04% -100.00%
Term Finance Certificates II -
Quoted, Unsecured -0.04% -0.04% -0.04% -0.04%
Term Finance Certificates III -
Quoted, Unsecured #DIV/0! -0.04% -0.04% -0.04%

LIABILITIES AGAINST ASSETS


SUBJECT TO FINANCE LEASE #DIV/0! #DIV/0! #DIV/0! #DIV/0!
OTHER LIABILITIES 91.52% 39.96% 30.48% 18.46%
Mark-up/ return/intrest payable in
local currency 154.31% 53.31% 14.49% 31.10%
Mark-up/ return/intrest payable in
foreign currency 162.58% 110.33% 80.98% -3.02%
Unearned commition and incom on
bills discounted 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%
Payable against redemption of
credit card reward point #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!
Exchange difference payable to
SBP 95.71% -99.94% 435400.00% 29.87%
Payable to brokers -74.23% -50.32% -97.94% -98.12%
Unrealised loss on forward
exchange contracts #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Provision against off-balance
sheet obligations #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%
Deferred debits arising in
respect of: #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Provision for doubtful debts 21.18% 34.38% -202.92% 47.46%

Excess of tax WDV over


accounting WDV of Fixed assets -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!
Provisions against off balance
sheet obligations #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Provisions for diminution in value
of investment #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Unrealised loss on revaluation of
investments classified as held for
trading / transferred from held for
trading to available for sale #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%
Deferrd credit arising in respect
of: #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Write offs/ reversals of provision
for bad debts 25.04% 22.34% -100.00% #DIV/0!
Leasing operations 199.59% 86.45% -100.00% #DIV/0!
Excess of accounting net book
value over tax written down value
of fixed assets #DIV/0! 1056.23% -100.00% #DIV/0!
Difference between accounting
book value of leased asset and
lease liabilities #DIV/0! #DIV/0! #DIV/0! -16.79%
Accelerated tax deprecation #DIV/0! #DIV/0! #DIV/0! 32.74%
Surplus on revaluation of fixed
asset -3.61% 177.35% -163.01% -17.77%
Surplus on revaluation of
securities -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!
400,000,000 Ordinary shares of
Rs 10 each 0.00% 100.00% 0.00% 18650.00%

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


75,000,000 Ordinary shares of
Rs10 each fully paid in cash 0.00% 200.00% 0.00% 0.00%
175,000,000 Bonus Shares issued
during the year 0.00% 57.14% 54.55% 35.18%
50,000,000 Right shares issued
during the year #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%
SURPLUS ON REVALUATION
OF ASSETS -18.64% 129.92% 46.95% -0.69%
Surplus arising on revaluation of
fixed assets -3.18% 177.30% 18.12% 3.58%
Surplus arising on revaluation of
Securities -128.27% 72.80% -49.78% 390.53%
Surplus arising on revaluation of
investment in associate #DIV/0! #DIV/0! -100.00% #DIV/0!
Bank Alfalah Limited
Percentage Comparative 2004 Base Balance Sheet
As on December 31,

Discription 2005 2006 2007


Assets 160.37% 178.05% 212.42%
CASH AND BALANCE WITH
TREASURY BANKS 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%
Account 109.16% 122.43% 126.15%
Account 143.33% 143.40% 158.22%
Account 131.91% 129.27% 51.82%
With other central banks in #DIV/0! #DIV/0! #DIV/0!
account #DIV/0! #DIV/0! #DIV/0!
account #DIV/0! #DIV/0! #DIV/0!
Pakistan In 202.59% 175.02% 201.24%
Account 202.59% 175.02% 201.24%
National prize
BALANCE WITHBonds
OTHER #DIV/0! #DIV/0! #DIV/0!
BANKS 305.07% 399.88% 577.29%
In Pakistan 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%
LENDINGS TO FINANCIAL
INSTITUTIONS #DIV/0! #DIV/0! #DIV/0!
Call money lendings #DIV/0! #DIV/0! #DIV/0!
Repurchase agreement
lendings(Reverse repo) #DIV/0! #DIV/0! #DIV/0!
INVEST MENT S 161.72% 159.15% 249.25%
Held By Bank 192.15% 184.29% 248.03%
securities 198.30% 538.54% 826.17%
treasury Bills #DIV/0! #DIV/0! #DIV/0!
pakistan investment Bonds 64.64% 55.86% 11.28%
Fedral Investment Bonds 0.00% 0.00% 0.00%
Fully paid up ordnary shares /
units- listed 116.74% 120.28% 447.08%
Fully paid up ordnary shares /
units- un-listed #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%
Share of Pakistan Export
Finance Gurantee Agency Ltd 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!
Fully paid up ordnary shares
of Listed Companies 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!
Alfalah GHP Investment
management ltd #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%
Less: Provision for diminution
in value of investments #DIV/0! #DIV/0! #DIV/0!
provisions)
surplus/(Defecit) on 193.14% 187.33% 249.32%
revaluation of held on trading
securities
Provision for diminution in 15.16% -4.77% -15.55%
value of held for trading
investment 2308.91% 2935.24% 976.81%
(Deficit) on revaluation of
securities-associate #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!
pakistan investment Bonds 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!
Fully paid up ordinary shares
-unlisted #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!
Share of Pakistan Export
Finance Gurantee Agency Ltd #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
Fully paidbills
up ordnary shares of #DIV/0! #DIV/0! #DIV/0!
listed companies #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!
Alfalah GHP income multiplier
fund #DIV/0! #DIV/0! #DIV/0!
Alfalah GHP Islamic fund #DIV/0! #DIV/0! #DIV/0!
Alfalah GHP Investment
management ltd #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%
Less: Provision for diminution
in value of investments #DIV/0! #DIV/0! #DIV/0!
provisions)
surplus/(Defecit) on 4.45% 29.31% 257.05%
revaluation of held on trading
securities
Provision for diminution in 0.00% 0.00% 0.00%
value of held for trading
investment #DIV/0! #DIV/0! #DIV/0!
(Deficit) on revaluation of
securities-associate #DIV/0! #DIV/0! #DIV/0!
Total 161.72% 159.15% 249.25%
securities 165.54% 481.23% 967.26%
treasury Bills #DIV/0! #DIV/0! #DIV/0!
pakistan investment Bonds 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%
Share of Pakistan Export
Finance Gurantee Agency Ltd 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%
Fully paid up ordnary shares of
listed companies 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!
Alfalah GHP Investment
management ltd #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%
Less: Provision for diminution
in value of investments #DIV/0! #DIV/0! #DIV/0!
provisions)
surplus/(Defecit) on 162.52% 161.69% 250.57%
revaluation of held on trading
securities
Provision for diminution in 13.22% -4.16% -13.56%
value of held for trading
investment 2308.91% 2972.93% 2557.23%
(Deficit) on revaluation of
securities-associate #DIV/0! #DIV/0! #DIV/0!
ADVANCES 133.66% 168.67% 192.51%
Loans, cash credits,
running finances, etc. 125.34% 163.01% 189.15%
in Pakistan 123.65% 158.61% 179.74%
Outside Pakistan #DIV/0! #DIV/0! #DIV/0!
Net investment in Finance
Lease/Ijarah financing 190.73% 224.17% 248.24%
Payable in pakistan 190.73% 224.17% 248.24%
Payable
Bills outside pakistan
discounted and #DIV/0! #DIV/0! #DIV/0!
purchased(excluding
treasury bills) 222.10% 199.11% 224.53%
Payable in pakistan 134.95% 102.48% 95.89%
Payable outside pakistan 315.54% 302.70% 362.42%
provisions for non-performing
advances 114.18% 164.44% 248.55%
General provision against
consumer financings #DIV/0! #DIV/0! #DIV/0!
OTHER ASSETS 119.35% 174.56% 186.34%
Income/ Mark-up accrued in
local currency 182.16% 256.08% 305.05%
Income/ Mark-up accrued in
foreign currency 479.99% 728.28% 1649.05%
Advances, deposits, advance
rent and other payments 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%
Unrealised gain on forward
foreign exchange contracts 87.00% 83.36% 88.37%
Asset accuired in satisfaction
of claims #DIV/0! #DIV/0! #DIV/0!
Prepaid exchange risk fee 45.83% 148.56% 59.43%
hands 153.78% 208.45% 221.42%
Short term receivables 137.35% 0.00% 0.00%
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%
Less: Provision held against
other assets 104.70% 100.57% 100.57%
Less: Markup held in suspense
account 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%
Deferred tax assets #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!

BORROWINGS
FROMFINANCIAL INSTITUTION 45.93% 65.97% 166.86%
In pakistan 47.47% 67.63% 168.15%
outside pakistan 6.04% 22.92% 133.18%
DEPOSITS AND OTHER
ACCOUNTS 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!
Current accounts- Non-
remunerative 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%
Term Finance Certificates I -
Quoted, Unsecured 99.96% 99.92% 99.88%
Term Finance Certificates II -
Quoted, Unsecured 99.96% 99.92% 99.88%
Term Finance Certificates III -
Quoted, Unsecured #DIV/0! #DIV/0! #DIV/0!

LIABILITIES AGAINST ASSETS


SUBJECT TO FINANCE LEASE #DIV/0! #DIV/0! #DIV/0!
OTHER LIABILITIES 191.52% 268.06% 349.75%
Mark-up/ return/intrest payable in
local currency 254.31% 389.87% 446.37%
Mark-up/ return/intrest payable in
foreign currency 262.58% 552.29% 999.52%
Unearned commition and incom on
bills discounted 133.71% 135.57% 166.37%
Accrued expanses 49.38% 56.57% 138.52%
Current taxtion #DIV/0! #DIV/0! #DIV/0!
Payable against redemption of
credit card reward point #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!
Exchange difference payable to
SBP 195.71% 0.12% 520.54%
Payable to brokers 25.77% 12.80% 0.26%
Unrealised loss on forward
exchange contracts #DIV/0! #DIV/0! #DIV/0!
Provision against off-balance
sheet obligations #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%
Deferred debits arising in
respect of: #DIV/0! #DIV/0! #DIV/0!
Provision for doubtful debts 121.18% 162.84% -167.60%

Excess of tax WDV over


accounting WDV of Fixed assets 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%
Provisions against off balance
sheet obligations #DIV/0! #DIV/0! #DIV/0!
Provisions for diminution in value
of investment #DIV/0! #DIV/0! #DIV/0!
Unrealised loss on revaluation of
investments classified as held for
trading / transferred from held for
trading to available for sale #DIV/0! #DIV/0! #DIV/0!

Deficit on revaluation of securities #DIV/0! #DIV/0! #DIV/0!


119.73% 183.10% -163.46%
Deferrd credit arising in respect
of: #DIV/0! #DIV/0! #DIV/0!
Write offs/ reversals of provision
for bad debts 125.04% 152.97% 0.00%
Leasing operations 299.59% 558.58% 0.00%
Excess of accounting net book
value over tax written down value
of fixed assets #DIV/0! #DIV/0! #DIV/0!
Difference between accounting
book value of leased asset and
lease liabilities #DIV/0! #DIV/0! #DIV/0!
Accelerated tax deprecation #DIV/0! #DIV/0! #DIV/0!
Surplus on revaluation of fixed
asset 96.39% 267.35% -168.45%
Surplus on revaluation of
securities 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!
400,000,000 Ordinary shares of
Rs 10 each 100.00% 200.00% 200.00%

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


75,000,000 Ordinary shares of
Rs10 each fully paid in cash 100.00% 300.00% 300.00%
175,000,000 Bonus Shares issued
during the year 100.00% 157.14% 242.86%
50,000,000 Right shares issued
during the year #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%
SURPLUS ON REVALUATION
OF ASSETS 81.36% 229.92% 146.95%
Surplus arising on revaluation of
fixed assets 96.82% 268.48% 317.12%
Surplus arising on revaluation of
Securities -28.27% -48.86% -24.54%
Surplus arising on revaluation of
investment in associate #DIV/0! #DIV/0! #DIV/0!
Bank Alfalah Limited
Sheet Comparative Vertical Commonsize Balance Shee
As on December 31,

2008 Discription 2004 2005


225.40% Assets 100.00% 100.00%
CASH AND BALANCE WITH
165.85% TREASURY BANKS 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% Account 8.48% 5.77%
213.67% Account 0.42% 0.38%
201.04% Account 1.16% 0.95%
#DIV/0! With other central banks in 0.00% 0.55%
#DIV/0! account 0.00% 0.11%
#DIV/0! account 0.00% 0.44%
393.83% Pakistan In 0.42% 0.54%
393.83% Account 0.42% 0.54%
#DIV/0! National prize
BALANCE WITHBonds
OTHER 0.00% 0.00%
677.81% BANKS 2.06% 3.91%
2516.45% In Pakistan 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%
LENDINGS TO FINANCIAL
#DIV/0! INSTITUTIONS 0.00% 10.89%
#DIV/0! Call money lendings 0.00% 0.32%
Repurchase agreement
#DIV/0! lendings(Reverse repo) 0.00% 10.58%
213.99% INVEST MENT S 22.93% 23.12%
239.06% Held By Bank 19.21% 23.02%
760.08% securities 2.86% 3.54%
#DIV/0! treasury Bills 0.00% 2.23%
13.77% pakistan investment Bonds 2.15% 0.87%
0.00% Fedral Investment Bonds 0.01% 0.00%
Fully paid up ordnary shares /
834.80% units- listed 0.33% 0.24%
Fully paid up ordnary shares /
#DIV/0! units- un-listed 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%
Share of Pakistan Export
0.00% Finance Gurantee Agency Ltd 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%
Fully paid up ordnary shares
3.60% of Listed Companies 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%
Alfalah GHP income multiplier
#DIV/0! fund 0.00% 0.00%
#DIV/0! Alfalah GHP Islamic fund 0.00% 0.00%
Alfalah GHP Investment
#DIV/0! management ltd 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%
Less: Provision for diminution
#DIV/0! in value of investments 0.00% 0.00%
240.68% provisions)
surplus/(Defecit) on 19.12% 23.03%
revaluation of held on trading
0.77% securities
Provision for diminution in 0.09% 0.01%
value of held for trading
7094.69% investment 0.00% -0.02%
(Deficit) on revaluation of
#DIV/0! securities-associate 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% pakistan investment Bonds 0.57% 0.00%
#DIV/0! Fedral Investment Bonds 0.00% 0.00%
Fully paid up ordnary shares-
#DIV/0! Listed 0.00% 0.00%
Fully paid up ordinary shares
#DIV/0! -unlisted 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%
Share of Pakistan Export
#DIV/0! Finance Gurantee Agency Ltd 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
Fully paidbills
up ordnary shares of 0.00% 0.00%
#DIV/0! listed companies 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%
Alfalah GHP income multiplier
#DIV/0! fund 0.00% 0.00%
#DIV/0! Alfalah GHP Islamic fund 0.00% 0.00%
Alfalah GHP Investment
#DIV/0! management ltd 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%
Less: Provision for diminution
#DIV/0! in value of investments 0.00% 0.00%
85.57% provisions)
surplus/(Defecit) on 3.70% 0.10%
revaluation of held on trading
0.00% securities
Provision for diminution in 0.01% 0.00%
value of held for trading
#DIV/0! investment 0.00% 0.00%
(Deficit) on revaluation of
#DIV/0! securities-associate 0.00% 0.00%
213.99% Total 22.93% 23.12%
726.92% securities 3.43% 3.54%
#DIV/0! treasury Bills 0.00% 2.23%
12.31% pakistan investment Bonds 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%
Share of Pakistan Export
0.00% Finance Gurantee Agency Ltd 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%
Fully paid up ordnary shares of
3.60% listed companies 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%
Alfalah GHP income multiplier
#DIV/0! fund 0.00% 0.00%
#DIV/0! Alfalah GHP Islamic fund 0.00% 0.00%
Alfalah GHP Investment
#DIV/0! management ltd 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%
Less: Provision for diminution
#DIV/0! in value of investments 0.00% 0.00%
215.51% provisions)
surplus/(Defecit) on 22.83% 23.13%
revaluation of held on trading
0.67% securities
Provision for diminution in 0.10% 0.01%
value of held for trading
9433.95% investment 0.00% -0.02%
(Deficit) on revaluation of
#DIV/0! securities-associate 0.00% 0.00%
216.65% ADVANCES 57.44% 47.87%
Loans, cash credits,
221.80% running finances, etc. 52.14% 40.75%
209.40% in Pakistan 52.14% 40.20%
#DIV/0! Outside Pakistan 0.00% 0.55%
Net investment in Finance
221.48% Lease/Ijarah financing 4.12% 4.90%
221.48% Payable in pakistan 4.12% 4.90%
#DIV/0! Payable
Bills outside pakistan
discounted and 0.00% 0.00%
purchased(excluding
176.75% treasury bills) 2.06% 2.85%
66.34% Payable in pakistan 1.06% 0.90%
295.11% Payable outside pakistan 0.99% 1.95%
provisions for non-performing
371.72% advances -0.88% -0.63%
General provision against
#DIV/0! consumer financings 0.00% 0.00%
278.57% OTHER ASSETS 2.08% 1.55%
Income/ Mark-up accrued in
549.36% local currency 0.86% 0.98%
Income/ Mark-up accrued in
1353.74% foreign currency 0.01% 0.04%
Advances, deposits, advance
333.36% rent and other payments 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%
Unrealised gain on forward
0.00% foreign exchange contracts 0.02% 0.01%
Asset accuired in satisfaction
#DIV/0! of claims 0.00% 0.00%
64.47% Prepaid exchange risk fee 0.00% 0.00%
253.91% hands 0.02% 0.02%
0.00% Short term receivables 0.00% 0.00%
#DIV/0! 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%
Less: Provision held against
100.57% other assets -0.01% 0.00%
Less: Markup held in suspense
947.93% account -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! Deferred tax assets 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%

BORROWINGS
107.60% FROMFINANCIAL INSTITUTION 8.22% 2.35%
106.14% In pakistan 7.91% 2.34%
145.51% outside pakistan 0.30% 0.01%
DEPOSITS AND OTHER
231.84% ACCOUNTS 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%
Current accounts- Non-
216.26% remunerative 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%
Term Finance Certificates I -
0.00% Quoted, Unsecured 0.42% 0.26%
Term Finance Certificates II -
99.85% Quoted, Unsecured 0.81% 0.50%
Term Finance Certificates III -
#DIV/0! Quoted, Unsecured 0.00% 0.53%

LIABILITIES AGAINST ASSETS


#DIV/0! SUBJECT TO FINANCE LEASE 0.00% 0.00%
414.31% OTHER LIABILITIES 1.76% 2.10%
Mark-up/ return/intrest payable in
585.20% local currency 0.45% 0.72%
Mark-up/ return/intrest payable in
969.30% foreign currency 0.02% 0.04%
Unearned commition and incom on
171.27% bills discounted 0.06% 0.05%
154.10% Accrued expanses 0.18% 0.06%
#DIV/0! Current taxtion 0.00% 0.00%
Payable against redemption of
#DIV/0! credit card reward point 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%
Exchange difference payable to
676.02% SBP 0.00% 0.01%
0.00% Payable to brokers 0.25% 0.04%
Unrealised loss on forward
#DIV/0! exchange contracts 0.00% 0.00%
Provision against off-balance
#DIV/0! sheet obligations 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%
Deferred debits arising in
#DIV/0! respect of: 0.00% 0.00%
-247.14% Provision for doubtful debts 0.47% 0.36%

Excess of tax WDV over


0.00% accounting WDV of Fixed assets 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%
Provisions against off balance
#DIV/0! sheet obligations 0.00% 0.00%
Provisions for diminution in value
#DIV/0! of investment 0.00% 0.00%
Unrealised loss on revaluation of
investments classified as held for
trading / transferred from held for
#DIV/0! trading to available for sale 0.00% 0.00%

#DIV/0! Deficit on revaluation of securities 0.00% 0.00%


-321.55% 0.49% 0.37%
Deferrd credit arising in respect
#DIV/0! of: 0.00% 0.00%
Write offs/ reversals of provision
0.00% for bad debts -0.29% -0.23%
0.00% Leasing operations -0.08% -0.14%
Excess of accounting net book
value over tax written down value
#DIV/0! of fixed assets 0.00% -0.03%
Difference between accounting
book value of leased asset and
#DIV/0! lease liabilities 0.00% 0.00%
#DIV/0! Accelerated tax deprecation 0.00% 0.00%
Surplus on revaluation of fixed
-138.52% asset -0.27% -0.16%
Surplus on revaluation of
0.00% securities -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%
400,000,000 Ordinary shares of
37500.00% Rs 10 each 2.58% 1.61%

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


75,000,000 Ordinary shares of
300.00% Rs10 each fully paid in cash 0.48% 0.30%
175,000,000 Bonus Shares issued
328.29% during the year 1.13% 0.70%
50,000,000 Right shares issued
#DIV/0! during the year 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%
SURPLUS ON REVALUATION
99.31% OF ASSETS 0.58% 0.29%
Surplus arising on revaluation of
328.46% fixed assets 0.51% 0.30%
Surplus arising on revaluation of
-120.37% Securities 0.07% -0.01%
Surplus arising on revaluation of
#DIV/0! investment in associate 0.00% 0.00%
lfalah Limited
Commonsize Balance Sheet
December 31,

2006 2007 2008


100.00% 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


MARK-UP/ RETURNE/INTREST
EARNED 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
On deposits with financial
institutions 81,913 420,056 740,026 1,154,110 1,406,104
On securities purchase under
resale agreement 46,815 492,762 473,584 555,855 308,598
MARK-UP/ RETURNE/INTREST
EXPENSED 2,434,459 7,204,992 15,232,886 16,620,963 20,331,194
Deposits(includind exchange risk
fee) 1,795,093 6,447,085 13,476,973 15,235,243 18,310,713
Securities sold under repurchase
agreements 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
PROVISIONS AGAINST NON-
PERFORMING LOANS AND
ADVANCES- NET
Specific
Opening balance 1,006,215 851,119 707,369 1,175,568 3,380,409
Opening balance of foreign branch
acquired during the year - 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
General
Opening balance 149,896 508,938 845,612 1,060,888 1,099,409
Opening balance of foreign branch
acquired during the year - 16,629 - - -
Exchange adjustments - - (1650) (2887) 43,907
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
Total
Opening balance 1,156,111 1,360,057 1,552,981 2,236,456 4,479,818
Opening balance of foreign branch
acquired during the year - 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

PROVISIONS FOR DIMINUTION IN


THE VALUE OF INVESTMENTS 2,165 (23163) - - 1,479,062
BAD DEBTS WRITTEN OFF
DIRECTLY 351 512 1,537 5,844 28,298
372,724 379,647 699,227 2,376,711 3,543,357
NET MARK-UP/ INTREST INCOME
AFTER PROVISIONS 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


Fee, commission and brokerage
income 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
Income from dealing in forigen
currencies 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
Net profit on sales of property and
equipment 4,297 4,309 12,999 13,928 77,997
Gain on sale of shares/ certifcates/
units listed 246,117 231,878 182,161 264,678 252,857
Gain on sale of shares/ certifcates/
units un-listed - - - 1,788,514 171,363
Gain on sale of Pakistan Investment
Bonds 3,132 7,673 (86) - -
Unrealized loss on revaluation of
investments classified as held for
trading - - (27599) (14929) (181571)

Total non mark-up/ intrest income 4,333,069 6,907,542 8,483,996 12,824,663 12,417,459
NON MARK-UP INTREST
EXPENSES
Administrative expenses 2,677,635 4,313,023 5,874,745 8,272,587 10,471,399
Non-executive director fee and
allowances - - - 4,937 14,560
Salaries, allowances, etc 1,025,856 1,538,299 2,267,122 3,531,139 4,350,015
Chaing for defined benefit plan-
Gratuity 27,531 46,637 62,797 90,289 142,926
Contribution to defined contribution
plan- Provident Fund 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

Entertainment, vehical running


expenses, travelling and subscription 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
Penalities imposed by State Bank of
Pakistan 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
Taxation for the year -Current 586,159 592,635 476,226 1,726,810 1,730,051
Taxation for the year -Deferred (3663) 267,524 427,902 (321487) (1151019)
For prior year- Current (30000) (7000) - - (221797)
For prior year- Deferred 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
Unappropriated profit brought
forward 963,042 860,300 1,886,845 2,823,072 -
Transfer from general reserve - - - - -
Transfered from surpluson
revaluation of fixed asset-net of tax 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


APPROPRIATIONS
Transferred to statutory reserve (218398) (340419) - - -
Bonus shares- interim @nil (2004:
@25%) (500000) - - - -
Final dividend for 2004: @ nil (2003:
@ 25%) (500000) - - - -
Interim dividend @ 12% (2004: @
nil) - (360000) - - -
Transfer to reserves for issue of
bonus shares - (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
Weighted average number of
ordinary shares 280,428 296,016 456,132 650,000 799,500
Bank Alfalah Limited
Comparative Change Base Income Statement
For The Year Ended December 31,

DISCRIPTION 2005 2006 2007 2008


MARK-UP/ RETURNE/INTREST
EARNED 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

On deposits with financial institutions 338,143 319,970 414,084 251,994


On securities purchase under resale
agreement 445,947 (19,178) 82,271 (247,257)
MARK-UP/ RETURNE/INTREST
EXPENSED 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


Securities sold under repurchase
agreements (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
PROVISIONS AGAINST NON-
PERFORMING LOANS AND
ADVANCES- NET - - - -
Specific - - - -
Opening balance (155,096) (143,750) 468,199 2,204,841
Opening balance of foreign branch
acquired during the year 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
Opening balance of foreign branch
acquired during the year 16,629 (16,629) - -
Exchange adjustments - (1,650) (1,237) 46,794
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
Opening balance of foreign branch
acquired during the year 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

PROVISIONS FOR DIMINUTION IN


THE VALUE OF INVESTMENTS (25,328) 23,163 - 1,479,062
BAD DEBTS WRITTEN OFF
DIRECTLY 161 1,025 4,307 22,454
6,923 319,580 1,677,484 1,166,646
NET MARK-UP/ INTREST INCOME
AFTER PROVISIONS 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
Income from dealing in forigen
currencies 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


Net profit on sales of property and
equipment 12 8,690 929 64,069
Gain on sale of shares/ certifcates/ units
listed (14,239) (49,717) 82,517 (11,821)
Gain on sale of shares/ certifcates/ units
un-listed - - 1,788,514 (1,617,151)
Gain on sale of Pakistan Investment
Bonds 4,541 (7,759) 86 -
Unrealized loss on revaluation of
investments classified as held for
trading - (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
Non-executive director fee and
allowances - - 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
Contribution to defined contribution plan-
Provident Fund 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

Entertainment, vehical running


expenses, travelling and subscription 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 - - - -
Penalities imposed by State Bank of
Pakistan 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)
Taxation for the year -Current 6,476 (116,409) 1,250,584 3,241
Taxation for the year -Deferred 271,187 160,378 (749,389) (829,532)
For prior year- Current 23,000 7,000 - (221,797)
For prior year- Deferred (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 - - - -
Transfered from surpluson revaluation of
fixed asset-net of tax 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 - -
Bonus shares- interim @nil (2004:
@25%) 500,000 - - -
Final dividend for 2004: @ nil (2003: @
25%) 500,000 - - -
Interim dividend @ 12% (2004: @ nil) (360,000) 360,000 - -
Transfer to reserves for issue of bonus
shares (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)
Weighted average number of ordinary
shares 15,588 160,116 193,868 149,500
Bank Alfalah Limited
Percentage Comparative Chain Base Income Statement
For The Year Ended December 31,

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%


On securities purchase under resale
agreement 952.57% -3.89% 17.37% -44.48%
MARK-UP/ RETURNE/INTREST
EXPENSED 195.96% 111.42% 9.11% 22.32%

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


Securities sold under repurchase
agreements -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%
PROVISIONS AGAINST NON-
PERFORMING LOANS AND ADVANCES-
NET #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%
Opening balance of foreign branch acquired
during the year #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%
Opening balance of foreign branch acquired
during the year #DIV/0! -100.00% #DIV/0! #DIV/0!
Exchange adjustments #DIV/0! #DIV/0! 74.97% -1620.85%
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%
Opening balance of foreign branch acquired
during the year #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%

PROVISIONS FOR DIMINUTION IN THE


VALUE OF INVESTMENTS -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%
NET MARK-UP/ INTREST INCOME AFTER
PROVISIONS 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%

Net profit on sales of property and equipment 0.28% 201.67% 7.15% 460.00%
Gain on sale of shares/ certifcates/ units
listed -5.79% -21.44% 45.30% -4.47%
Gain on sale of shares/ certifcates/ units un-
listed #DIV/0! #DIV/0! #DIV/0! -90.42%

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

Unrealized loss on revaluation of


investments classified as held for trading #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!


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%
Contribution to defined contribution plan-
Provident Fund 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%

Entertainment, vehical running expenses,


travelling and subscription 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!
Penalities imposed by State Bank of
Pakistan 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%
Taxation for the year -Current 1.10% -19.64% 262.60% 0.19%
Taxation for the year -Deferred -7403.41% 59.95% -175.13% 258.03%
For prior year- Current -76.67% -100.00% #DIV/0! #DIV/0!
For prior year- Deferred -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!
Transfered from surpluson revaluation of
fixed asset-net of tax 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!

Final dividend for 2004: @ nil (2003: @ 25%) -100.00% #DIV/0! #DIV/0! #DIV/0!
Interim dividend @ 12% (2004: @ nil) #DIV/0! -100.00% #DIV/0! #DIV/0!
Transfer to reserves for issue of bonus
shares #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%

Weighted average number of ordinary shares 5.56% 54.09% 42.50% 23.00%


Bank Alfalah Limited
Trends Analysis
For The Year Ended December 31,

DISCRIPTION 2005 2006 2007 2008


MARK-UP/ RETURNE/INTREST
EARNED 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!
On deposits with financial
institutions 512.81% 903.43% 1408.95% 1716.58%
On securities purchase under
resale agreement 1052.57% 1011.61% 1187.34% 659.19%
MARK-UP/ RETURNE/INTREST
EXPENSED 295.96% 625.72% 682.74% 835.14%
Deposits(includind exchange risk
fee) 359.15% 750.77% 848.72% 1020.04%
Securities sold under repurchase
agreements 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%
PROVISIONS AGAINST NON-
PERFORMING LOANS AND
ADVANCES- NET #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%
Opening balance of foreign branch
acquired during the year #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%
Opening balance of foreign branch
acquired during the year #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Exchange adjustments #DIV/0! #DIV/0! #DIV/0! #DIV/0!
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%
Opening balance of foreign branch
acquired during the year #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%

PROVISIONS FOR DIMINUTION IN


THE VALUE OF INVESTMENTS -1069.88% 0.00% 0.00% 68316.95%
BAD DEBTS WRITTEN OFF
DIRECTLY 145.87% 437.89% 1664.96% 8062.11%
101.86% 187.60% 637.66% 950.67%
NET MARK-UP/ INTREST INCOME
AFTER PROVISIONS 165.74% 186.96% 241.24% 254.96%

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


Fee, commission and brokerage
income 171.45% 267.06% 359.48% 375.71%
Dividend income 99.00% 71.17% 123.19% 572.80%
Income from dealing in forigen
currencies 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!

Postage, telex, service charges etc 156.81% 259.68% 318.67% 366.35%


Net profit on sales of property and
equipment 100.28% 302.51% 324.13% 1815.15%
Gain on sale of shares/ certifcates/
units listed 94.21% 74.01% 107.54% 102.74%
Gain on sale of shares/ certifcates/
units un-listed #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Gain on sale of Pakistan Investment
Bonds 244.99% -2.75% 0.00% 0.00%
Unrealized loss on revaluation of
investments classified as held for
trading #DIV/0! #DIV/0! #DIV/0! #DIV/0!

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


NON MARK-UP INTREST
EXPENSES #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Administrative expenses 161.08% 219.40% 308.95% 391.07%
Non-executive director fee and
allowances #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Salaries, allowances, etc 149.95% 221.00% 344.21% 424.04%
Chaing for defined benefit plan-
Gratuity 169.40% 228.10% 327.95% 519.15%
Contribution to defined contribution
plan- Provident Fund 156.64% 233.83% 335.20% 431.06%
Brokerage and commissions 229.08% 327.17% 382.42% 418.21%

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%

Entertainment, vehical running


expenses, travelling and subscription 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!
Penalities imposed by State Bank of
Pakistan 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%
Taxation for the year -Current 101.10% 81.25% 294.60% 295.15%
Taxation for the year -Deferred -7303.41% -11681.74% 8776.60% 31422.85%
For prior year- Current 23.33% 0.00% 0.00% 739.32%
For prior year- Deferred 86.90% -1090.65% 0.00% 1472.42%
PROFIT AFTER TAXATION 155.87% 161.42% 286.65% 119.17%
Unappropriated profit brought
forward 89.33% 195.93% 293.14% 0.00%
Transfer from general reserve #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Transfered from surpluson
revaluation of fixed asset-net of tax 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%
Bonus shares- interim @nil (2004:
@25%) 0.00% 0.00% 0.00% 0.00%
Final dividend for 2004: @ nil (2003:
@ 25%) 0.00% 0.00% 0.00% 0.00%
Interim dividend @ 12% (2004: @
nil) #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Transfer to reserves for issue of
bonus shares #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%
Weighted average number of
ordinary shares 105.56% 162.66% 231.79% 285.10%
Bank Alfalah Limited
Comparative Vertical Common Size Income Statement
For The Year Ended December 31,

DISCRIPTION 2004 2005 2006 2007


MARK-UP/ RETURNE/INTREST
EARNED 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%

On deposits with financial institutions 1.46% 3.43% 3.49% 4.48%


On securities purchase under resale
agreement 0.83% 4.02% 2.23% 2.16%
MARK-UP/ RETURNE/INTREST
EXPENSED 43.32% 58.83% 71.88% 64.46%

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


Securities sold under repurchase
agreements 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%
PROVISIONS AGAINST NON-
PERFORMING LOANS AND
ADVANCES- NET 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%
Opening balance of foreign branch
acquired during the year 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%
Opening balance of foreign branch
acquired during the year 0.00% 0.14% 0.00% 0.00%
Exchange adjustments 0.00% 0.00% -0.01% -0.01%
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%
Opening balance of foreign branch
acquired during the year 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%
PROVISIONS FOR DIMINUTION
IN THE VALUE OF
INVESTMENTS 0.04% -0.19% 0.00% 0.00%
BAD DEBTS WRITTEN OFF
DIRECTLY 0.01% 0.00% 0.01% 0.02%
6.63% 3.10% 3.30% 9.22%
NET MARK-UP/ INTREST
INCOME AFTER PROVISIONS 50.05% 38.07% 24.82% 26.32%
NON MARK-UP/INTREST
INCOME 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%
Income from dealing in forigen
currencies 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%

Postage, telex, service charges etc 5.68% 4.09% 3.91% 3.95%


Net profit on sales of property and
equipment 0.08% 0.04% 0.06% 0.05%
Gain on sale of shares/ certifcates/ units
listed 4.38% 1.89% 0.86% 1.03%
Gain on sale of shares/ certifcates/ units
un-listed 0.00% 0.00% 0.00% 6.94%
Gain on sale of Pakistan Investment
Bonds 0.06% 0.06% 0.00% 0.00%
Unrealized loss on revaluation of
investments classified as held for
trading 0.00% 0.00% -0.13% -0.06%

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


NON MARK-UP INTREST
EXPENSES 0.00% 0.00% 0.00% 0.00%
Administrative expenses 47.64% 35.22% 27.72% 32.08%
Non-executive director fee and
allowances 0.00% 0.00% 0.00% 0.02%
Salaries, allowances, etc 18.25% 12.56% 10.70% 13.70%
Chaing for defined benefit plan-
Gratuity 0.49% 0.38% 0.30% 0.35%
Contribution to defined contribution
plan- Provident Fund 0.61% 0.44% 0.38% 0.44%
Brokerage and commissions 2.49% 2.62% 2.16% 2.08%

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%

Entertainment, vehical running


expenses, travelling and subscription 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%
Penalities imposed by State Bank of
Pakistan 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%
Taxation for the year -Current 10.43% 4.84% 2.25% 6.70%
Taxation for the year -Deferred -0.07% 2.18% 2.02% -1.25%
For prior year- Current -0.53% -0.06% 0.00% 0.00%
For prior year- Deferred 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%
Transfered from surpluson revaluation
of fixed asset-net of tax 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%
Bonus shares- interim @nil (2004:
@25%) -8.90% 0.00% 0.00% 0.00%
Final dividend for 2004: @ nil (2003:
@ 25%) -8.90% 0.00% 0.00% 0.00%
Interim dividend @ 12% (2004: @ nil) 0.00% -2.94% 0.00% 0.00%
Transfer to reserves for issue of bonus
shares 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%
Weighted average number of ordinary
shares 4.99% 2.42% 2.15% 2.52%
ement

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

Current Asset - Current Liabilities


1. Net Working Capital

Current
Asset 150554030 241693726 265182551 316972828
Current
Liabilities 134673906 231297857 249906022 286843944

15880124 10395869 15276529 30128884

Current Asset
2. Current Ratio
Current Liabilities

Current
Asset 150554030 241693726 265182551 316972828
Current
Liabilities 134673906 231297857 249906022 286843944

1.12 1.04 1.06 1.11

Sales
3.Sales to Working Capital
Working Capuital

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


Working
Capital 15880124 10395869 15276529 30128884

0.35 1.18 1.39 0.86


EBIT
4. Time Intrest Earned Intrest Charges

EBIT 4088193 9768282 17798831 21156515


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

1.68 1.36 1.17 1.27

Total Debt
5.Debt Ratio
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

Total Debt
6.Debt to Equity Ratio
Total Equity

Total Debt 149573050 240849667 263443596 312675308


Total
Equity 4369072 6738063 10572605 13766673

34.23 35.74 24.92 22.71


7. Current Worth to Net worth Current Worth
Ratio Net Worth

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

3.02 1.39 1.25 1.86

Long-Term Debt
8.Total Capitlization Ratio
Long-Term Debt+SHE

LTD 14899144 9551810 13537574 25831364


LTD+SHE 19268216 16289873 24110179 39598037

0.77 0.59 0.56 0.65

9.Long-Term Assets versus Long-term Asset


long-term Debt Long-term Debt

Long term
asset 4,280,504 6,620,067 10502990 11922324
Long term
Debt 14899144 9551810 13537574 25831364

0.29 0.69 0.78 0.46

Net Operating Income


10. Debt Coverage ratio
10. Debt Coverage ratio Total Debt

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

0.00 0.00 0.06 0.05

Net Profit
11.Net Profit Margin
sales

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


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

19.43% 13.90% 8.32% 12.14%

Operating Income
12. Operating Income Margin
Net Sales

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

0.00% 0.00% 68.77% 58.63%

Net Proft
13. Return on Asset(ROA)
Total asset

Profit after
Taxation 1,091,989 1,702,094 1762691 3130229
Avg total
Asset 154,834,534 248,313,793 275685541 328895152

0.71% 0.69% 0.64% 0.95%

Net Profit
14.Return on Equity(ROE) Total Equity

Profit after
taxation 1,091,989 1,702,094 1762691 3130229

Total equity 4369072 6738063 10572605 13766673

24.99% 25.26% 16.67% 22.74%

Operating Asset
15. Operating Asset Turnover Net Sales

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

0.21 0.30 0.41 0.43

Net Profit
16.Return on Operating Asset Operating Asset

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


Operating
Assets
27172979 41122061 51094302 59739440
4.02% 4.14% 3.45% 5.24%

Net Sales
17.Sales to Fix Asset Total Fixed Asset

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

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

1.31 1.85 2.02 2.16

Net Sales
18. Total Asset Turnover Total Assets

Total
Sales 5,620,203 12,246,811 21191470 25783871
Total
Asset 154,834,534 248,313,793 275685541 328895152

0.04 0.05 0.08 0.08

Profit After Taxation


19. Earning Per Share No of Shares

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


NOS 250000 300000 500000 650000

4.37 5.67 3.53 4.82


Inverstor's Analysis

20. Price / Earning Ratio Stock Price Per Shares


Earning Per Share

SPPS 10 10 10 10
EPS 4.37 5.67 3.53 4.82

2.29 1.77 2.84 2.08

Dividend Per Share


21. Dividend Payout Ratio Earning Per Share

DPS 0 0
EPS 4.37 5.67 3.53 4.82

0.00 0.00 0.00 0.00

Dividend Per Shares


22.Dividend Yield Share Price

DPS 0 0
SP 10 10 10 10

0.00 0.00 0.00 0.00


2008

Liabilities
35000000
30000000

335217471 25000000
20000000 Row 12
315476169
15000000
19741302 10000000
5000000
0
2004 2005 2006 2007 2008

1.14
s 1.12
1.10
335217471 1.08
1.06 Row 25
315476169
1.04
1.06 1.02
1.00
2004 2005 2006 2007 2008

1.80
1.60
al 1.40
1.20 Row 39
31046583 1.00
0.80
19741302 0.60
0.40
1.57
0.20
0.00
2004 2005 2006 2007 2008
2.00

1.50

22125914 Row 54
1.00

20331194
0.50
1.09
0.00
2004 2005 2006 2007 2008

0.98
0.97
0.97
0.96
331946025 0.96 Row 70

348990764 0.95
0.95
0.95
0.94
2004 2005 2006 2007 2008

40.00
35.00

331946025 30.00
25.00
14608523 20.00 Row 85
15.00
22.72
10.00
5.00
0.00
2004 2005 2006 2007 2008
3.50
3.00
2.50
19741302
2.00
17044739 Row 100
1.50
1.16 1.00
0.50
0.00
2004 2005 2006 2007 2008

t 0.90
HE 0.80
0.70
16469856
0.60
31078379
0.50
0.40 Row 115
0.53
0.30
0.20
0.10
0.00
2004 2005 2006 2007 2008

t
0.90
0.80
0.70 Row 130
13773293 0.60
0.50
16469856 0.40
0.30
0.84
0.20
0.10
0.00
2004 2005 2006 2007 2008

me 0.06

0.05

0.04

0.03 Row 143


0.06

0.05

0.04
16880487
0.03 Row 143
331946025
0.02
0.05
0.01

0.00
2004 2005 2006 2007 2008

100* 25.00%

20.00%
1301301
31046583 15.00%
Row 156
4.19% 10.00%

5.00%

0.00%
2004 2005 2006 2007 2008

100* 80.00%
70.00%
60.00%
16880487 50.00%
31046583 40.00% Row 171
30.00%
54.37%
20.00%
10.00%
0.00%
1 2 3 4 5

*100 1.00%
0.90%
0.80%
0.70%
1301301 Row 185
0.60%
0.50%
0.40%
0.30%
0.20%
0.10%
1.00%
0.90%
0.80%
0.70%
0.60% Row 185

348990764 0.50%
0.40%
0.37% 0.30%
0.20%
0.10%
0.00%
2004 2005 2006 2007 2008

*100 30.00%

25.00%

1301301 20.00%

14608523 15.00% Row 199

8.91% 10.00%

5.00%

0.00%
2004 2005 2006 2007 2008

0.50

*100 0.40

0.30
68041671 Row 213
31046583 0.20

0.46 0.10

0.00
2004 2005 2006 2007 2008

6.00%
*100 5.00%

1301301 4.00%

3.00% Row 227


68041671
2.00%

1.00%

0.00%
2004 2005 2006 2007 2008
5.00%

4.00%

3.00% Row 227

2.00%
1.91%
1.00%

0.00%
2004 2005 2006 2007 2008

2.50

et
2.00
31046583
1.50
Row 242
13773293
1.00
2.25
0.50

0.00
2004 2005 2006 2007 2008

` 0.10
0.09
0.08
0.07
31046583
0.06
0.05 Row 256
348990764
0.04
0.03
0.09
0.02
0.01
0.00
2004 2005 2006 2007 2008

on 6.00

5.00
1301301
4.00
799500
3.00 Row 270
1.63
2.00

1.00

0.00
2004 2005 2006 2007 2008
4.00

3.00 Row 270


2.00

1.00

0.00
2004 2005 2006 2007 2008

alysis

ares 7.00
e
6.00
10 5.00
1.63
4.00
6.15 3.00 Row 288

2.00
1.00
0.00
2004 2005 2006 2007 2008

re 0.80
e
0.70

1.21 0.60

1.63 0.50
0.40
Row 302
0.74 0.30
0.20
0.10
0.00
2004 2005 2006 2007 2008

es
0.14
0.12
1.21 0.10
10
0.08
0.12 0.06 Row 316

0.04
0.02
0.00
2004 2005 2006 2007 2008
0.06 Row 316

0.04
0.02
0.00
2004 2005 2006 2007 2008