You are on page 1of 36

1

CONTENTS

Page No.

CORPORATE INFORMATION 2

DIRECTORS’ REVIEW 3

REVIEW REPORT TO THE MEMBERS 5

BALANCE SHEET 6

PROFIT AND LOSS ACCOUNT 7

CASH FLOW STATEMENT 8

STATEMENT OF CHANGES IN EQUITY 9

NOTES TO THE ACCOUNTS 10

CONSOLIDATED BALANCE SHEET 20

CONSOLIDATED PROFIT AND LOSS ACCOUNT 21

CONSOLIDATED CASH FLOW STATEMENT 22

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 23

CONSOLIDATED NOTES TO THE ACCOUNTS 24

BRANCH NETWORK 32

The Half Yearly financial statement is available on bank’s official website: www.bankalfalah.com

BANK ALFALAH LIMITED

2

CORPORATE INFORMATION

Board of Directors
HE. Sheikh Hamdan Bin Mubarak Al Nahayan Chairman
Mr. Abdulla Khalil Al Mutawa Director
Mr. Abdulla Nasser Hawaileel AI-Mansoori Director
Mr. Khalid Mana Saeed Al Otaiba Director
Mr. Ikram Ul-Majeed Sehgal Director
Mr. Nadeem lqbal Sheikh Director
Mr. Mohammad Saleem Akhtar Chief Executive Officer

Board Advisory Committee
Mr. Abdulla Khalil Al Mutawa Director
Mr. Khalid Mana Saeed Al Otaiba Director
Mr. Bashir A. Tahir Member
Mr. Ganpat Singhvi Member
Mr. M. lftikhar Shabbir Secretary

Company Secretary
Mr. Hamid Ashraf

Chief Financial Officer
Mr. Zahid Ali H. Jamall

Auditors
Taseer Hadi Khalid & Co.
Chartered Accountants

Registered / Head Office
B.A. Building
I.I. Chundrigar Road
P.O. Box 6773
Karachi.
Website: www.bankalfalah.com

BANK ALFALAH LIMITED

3

DIRECTORS’ REVIEW
FOR THE SIX MONTHS ENDED JUNE 30, 2005

The Board of Directors is pleased to present the un-audited financial statements of the Bank for the half-year
ended June 30, 2005.

Six Month Six Month
Period Period
Ended Ended
June 2005 June 2004
(Rupees in '000')
Profit before provisions and Taxation 1,491,949 949,807
Provisions (216,685) (96,956)
Profit before Taxation 1,275,264 852,851
Taxation (428,662) (260,091)
Profit After Taxation 846,602 592,760
Un-appropriated profit brought forward 860,300 463,042
Transfer from Surplus on revaluation of Fixed Assets 12,435 11,834
Profit available for appropriations 1,719,337 1,067,636

Appropriations
Transfer to statutory reserve (169,320) (118,552)
Interim dividend @12% (360,000) -
(529,320) (118,552)
Un-appropriated profit carried forward 1,190,017 949,084

Earnings per share Rs. 2.90 Rs. 2.64

During the half-year ended the Bank’s profit before provision and taxation stood at Rs. 1,491.949
million as compared to Rs.949.807 million for the previous comparable period, registering an
increase of 57%. This increase in profit is primarily attributable to overall increase in business
volumes.

In compliance with the current prudential regulations on consumer banking, your Bank has
created general provisions amounting to Rs.141.533 million against the consumer portfolio,
for the half-year ended June 2005. These provisions are in addition to the specific provisions
made on the same consumer portfolio.

The Bank has successfully carved in the market an enviable niche for its consumer products.
Our Auto Finance, Credit Cards and Home Loans have significantly contributed to the profit
and growth in addition to contributions made by the core banking activities during the period
under review. We are indisputably market leaders in some of these initiatives.

BANK ALFALAH LIMITED

professionalism and sincere efforts of the senior management. your Bank acquired the operations of Shamil Bank of Bahrain’s B. SME. corporate and investment banking sectors of the economy. Afghanistan. We have also successfully obtained license to establish banking operations in Kabul.C. as of June 30. In summary. we have a nationwide network of 115 branches that includes 15 Islamic Banking branches and one overseas branch in Dhaka. we are ideally poised and positioned to carry forward the success. coupled with the Management’s well defined. 2005. Accordingly the Board would like to thank our valued clients and Correspondents and also to acknowledge the support of the State Bank of Pakistan. With expanding network of branches.S. has rated the Bank ‘AA’. dedication. PACRA. These ratings denote a very low expectation of credit risk. 2005. During the period. focused strategies and positioning. Our plan is to add more branches to the network during the 2nd half of 2005. Bangladesh operations for US$ 17. The entire undertaking of the Bangladesh operations including all the properties. Entity Rating for Long Term and A1+ for the Short Term. The Board would also like to place on record its appreciation for the hard work. Ministry of Finance and other regulatory authorities for their invaluable support which has greatly facilitated our work. a premier rating agency of the country. MOHAMMAD SALEEM AKHTAR Director & Chief Executive Officer Date: August 23. 2004. the unsecured subordinated debt (Term Finance Certificates) of the Bank has been awarded a credit rating of AA. 4 We continue to make significant in-roads into the agri-rural finance. Bangladesh. officers and staff of the Bank. Further. 2005 Place: Abu Dhabi BANK ALFALAH LIMITED . strong capacity for timely payment of financial commitments in the long term and by highest capacity for timely repayment in the short term. We continue to strengthen our presence in the market place and as of June 30. we had a successful half year results.(double A minus).88 million under an agreement dated November 1. respectively. This was achieved primarily due to our long standing and stable customer base. assets and liabilities and all the right and obligations were taken over.

Our responsibility is to issue a report on these financial statements based on our review. We have not performed an audit and. we do not express an audit opinion. Taseer Hadi Khalid & Co. 2005 Karachi BANK ALFALAH LIMITED . in accordance with approved accounting standards as applicable in Pakistan. accordingly. These financial statements are the responsibility of the Bank's management. cash flow statement and statement of changes in equity together with the notes forming part thereof (here-in-after referred to as the "financial statements") for the six months period then ended. 5 REVIEW REPORT TO THE MEMBERS We have reviewed the annexed balance sheet of Bank Alfalah Limited as at 30 June 2005 and the related profit and loss account. nothing has come to our attention that causes us to believe that the annexed financial statements are not presented fairly. A review is limited primarily to inquiries of Bank personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We conducted our review in accordance with the International Standard on Auditing applicable to review engagements. in all material respects. Chartered Accountants Date: August 23. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. Based on our review.

009 5.873 12.226.300 5.369.480 Liabilities against assets subject to finance lease . 6 BALANCE SHEET AS AT JUNE 30.196 Advances 6 97.127 - Investments 5 41.309 892.072 Surplus on revaluation of assets .484 CONTINGENCIES AND COMMITMENTS 10 The annexed notes 1 to 15 form an integral part of these accounts.400 Other assets 3.504 Deferred tax assets .500.521.438.190.325. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .359 88.762 35.573.996.412 6.183.316 129.899.233.488.723.546.net of deferred tax 678.034.403.714.708.546.110 1.891 Sub-ordinated loans 1. 2005 Note 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') ASSETS Cash and balances with treasury banks 4 18.772 Unappropriated profit 1.671 Borrowings from financial institutions 8 6.001 4.267 149.755.830 Deposits and other accounts 9 162.800 2.677. - Other liabilities 4.834 178.834.725.931.261.172 2.895 3.008.503.999.883 1.122.000 Reserves 1.661.518 Balances with other banks 8.830.280.344 Deferred tax liabilities 238.050 NET ASSETS 6.009 5.593. - 185.261.736.534 LIABILITIES Bills payable 2.867.276 154.311 19.959 Operating fixed assets 7 5.484 REPRESENTED BY Share capital 2.821 3.470 2.957 Lendings to financial institutions 9.700 4.326 275.899.017 860.

- Income from dealing in foreign currencies 60.192.628.552) Bonus shares .792.713) (118.362.570 330.198 32.301.435 5.956) Provision for diminution in the value of investments 37.Deferred 47.275.190.552) Un-appropriated profit carried forward 1.664 Non mark-up / interest income Fee.760 Unappropriated profit brought forward 1.991 852.045.Prior .410) 245.478 25. 2005 30 June.Current 12 197.629 296. 2005 30 June.603 1.300 660.099 345. . Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .896 1.017 1.000) . commission and brokerage income 258.587) Net mark-up / return / interest income 1.308 Provision against non-performing loans and advances (88.851 Taxation .802.181 1.812 628.297.631 1.992 Income from trading in government securities . .025 2.58 2.534 1.612 Extra ordinary / unusual items .015.265 1.644) Net mark-up / return / interest income after provisions 1.705) (529.64 The annexed notes 1 to 15 form an integral part of these accounts.101 2. .190.722 1.594 2.759 393.636 Appropriations Transferred to statutory reserve (84.501 .602 353.634.042 Transferred from surplus on revaluation of fixed assets 6.084 949.713) (118.969) (48.722 (32.642 13.221.629 737.706 40. 2004 (Rupees in '000') Mark-up / return / interest earned 2.000) (30.217 12.647) (97.219 2.078.814 628.991 1.979 860.235) (216.844) (1.424 260. 7 PROFIT AND LOSS ACCOUNT (un-audited) FOR THE SIX MONTHS ENDED JUNE 30.060 823.204.418 449.465 428. - (444.838 Dividend income 11.686 230. .996 108.526 846.333 Other income 11 47.078 1.705) (169.786 932.598.192.719.215 88.482) (167. 2005 2005 2004 Three Months Six Months Three Months Six Months Period Ended Period Ended Period Ended Period Ended Note 30 June.017 949.200 48. . - Interim dividend @ 12 percent (360.018 405.636 (535.334.000) .019.000) (30.273.313 463.201) .337 1.631.799 1.673 .662 155.463 Non mark-up / interest expense Administrative expenses 959.145. 2004 30 June.940 218.887 3.067.320) (70. - Profit before taxation 668.660 688.137.797 1.834 Profit available for appropriation 1. (6.319. .90 1. - Bad debts written off directly (240) (284) (688) (688) (51.091 Profit after taxation 423.959) (96.564 Other provisions / write-offs .742 467.675) (55.555 4.084 Basic/ Diluted earnings per share Rupees 1.41 2.890 157.917 11.336 2.250.320) (70.264 508.895 Mark-up / return / interest expensed 1.484) (47. - Other charges 265 329 48 48 Total non-markup / interest expenses 959.000) (360.268. 9.636 Total non-markup / interest income 378.567 592.555 1.487 (49.

501 679.170) (1.602 Net cash flow from investing activities (7.176) Dividend received 24.418.019 Write off /Amortisation .296 12.859 Adjustments for non-cash charges Depreciation 208.132 12.549 Advances (8.957) 13.755.805) (16.201 - Bad debts written-off directly 284 688 Gain on sale of operating fixed assets (1.386.232 19.622 819.275.407 Income tax paid (514.649.230 (500.022) (328.308.081.514.892.643) Investment in subsidiary companies (34.824) (1.132 12.813.127) 3.657 2.012.674.503) (14.316 Cash and cash equivalents at end of the period 27.473 28.642) (32.851 Less: Dividend income (25.327 132.050 CASH FLOW FROM INVESTING ACTIVITIES Net investment in available-for-sale securities (4.858) Net investment in held-to-maturity securities (1.702.382) (18.357) Net cash flow from operating activities 11.000) Net cash flow from financing activities 999.000) - Investment in associated company (561.093.371 453.359) Other assets (310.444 1.075.059.250 Provision against non-performing advances (net off reversals) 167.821 1.009) CASH FLOW FROM FINANCING ACTIVITIES Issue of Share Capital 499.892.264 852. (500.321 29.059) (662.395.763.311 10.138.748) Net investment in held-for-trading securities 4.203.254 19.338.484 96.514.952.021.800 - Redemption of term finance certificates (370) (130) Dividend paid .277.029 17.130) Increase in cash and cash equivalents 5.996.609) (10.227 CASH AND CASH EQUIVALENTS AT END OF THE PERIOD Cash and balances with treasury banks 18.033.723.227 The annexed notes 1 to 15 form an integral part of these accounts.992) 1. 8 CASH FLOW STATEMENT (un-audited) FOR THE SIX MONTHS ENDED JUNE 30.920 250.383.327.416 Other liabilities 1.833 2.000 27.542 1.293 Balances with other banks 8.830 Deposits 33.727) (14.354 Investments in operating fixed assets (1.249.502.755) (407.475 9.540) Sale proceeds of property and equipment disposed-off 3.164) (199.703.911 Cash and cash equivalents at beginning of the period 22.577 Borrowings from financial institutions (5.070.934 Call money lendings 200. 2005 30 June 30 June 2005 2004 (Rupees in '000') CASH FLOW FROM OPERATING ACTIVITIES Profit before taxation 1.826 (104.956 Provision for diminution in value of investments 49.086 34.800 - Share premium received 499.192) Increase / (decrease) in operating liabilities Bills payable 427. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .840) Provision for gratuity 23.352 305.303 (Increase) / decrease in operating assets Lending to financial institutions (9.intangible assets 6.000 625.115.425 15.952.700.765 5.561.848.

.000 . . 2004 2.552) - Dividend paid .772 .net of tax .042 3. . . (169.846 . . (99. . . .000 500.092 (9) 1. . 499.000 .833 11. 2004 as previously reported 2. .072 Net profit for the period .190. .253. . 500.000.300 4. .000 .320 . . 2005 2.320) - Transfer from surplus on revaluation of fixed assets . .999. .753.800 499.229 499. (360. 908.834 11. 2004 as restated 2. 2005 Exchange Share Share Statutory Translation Unappropriated Capital Premium Reserve Reserve profit TOTAL (Rupees in '000') Balance at January 1. (500.867.834 Transfer to statutory reserve . 11.000.602 846.008. . 846.800 499. (9) Interim dividend @ 12 percent . 11.600 Effect of foreign currency translation . . 592.000 Balance at January 1.178. .760 592.846) - Issue of bonus shares 500. .760 Transfer from surplus on revaluation of fixed assets .700 The annexed notes 1 to 15 form an integral part of these accounts.416 Net profit for the period . .229 Transfer from surplus on revaluation of fixed assets .435 Issue of Rights shares 499.042 3.369. 1. .000 . .010 Net profit for the period .374 .435 12.602 Transfer to statutory reserve .000) Balance at June 30. . . 463.833 Transfer to statutory reserve .017 5. 169.552 . 790.800 . . .000) - Balance at December 31. . . (118.000. (500. 2004 2.000 .926 .000) Balance at June 30. 790. 99. 860.500. .000) (360.416 Effect of Change in accounting policy with respect to dividend declared after the balance sheet date .000) (500. . 999. .net of tax . .084 3.374 . (9) . 949. 118. . 12. . 9 STATEMENT OF CHANGES IN EQUITY (un-audited) FOR THE SIX MONTHS ENDED JUNE 30.net of tax .800 1. . Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED . 963.858.

2004. BASIS OF PRESENTATION These financial statements are being presented in a condensed form in accordance with the requirements of ‘International Accounting Standard 34 – Interim Financial Reporting’ and on the ‘Format of the Accounts and Mode of Disclosures’ issued by the State Bank of Pakistan through its BSD Circular Letter No. assets and liabilities and all the rights and obligations were taken over by the Bank. 2. 2004 and July 6. Subsequent measurement Assets and liabilities of the foreign operation are translated into rupees at the exchange rate prevailing at the balance sheet date. I. It commenced banking operations from November 1. Its registered office is situated at B. Profit and loss account is translated at the average rate of conversion for the period. During the period. 1984. The Bank is listed on Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited with effect from July 5.88 million under an agreement dated November 1. 1992 as a public limited company under the Companies Ordinance. Foreign operations Initial recognition The assets and liabilities of foreign branches taken over are initially recognised at cost any resulting goodwill is immediately written off. 1984. 2005 1. 3. Bangladesh operations for USD 17. Gains and losses arising on translation are taken to Exchange Translation Reserve. 1962 and is operating through 99 conventional banking (December 2004: 90) branches. these accounts are being circulated to the shareholders in accordance with the requirements of Section 245 of the Companies Ordinance. 1992. 15 Islamic Banking (December 2004: 11) branches and 1 overseas (December 2004:NIL) branch. 2004. The Bank is engaged in banking services as described in the Banking Companies Ordinance. STATUS AND NATURE OF BUSINESS Bank Alfalah Limited (the Bank) was incorporated in Pakistan on June 21.S. Chundrigar Road.A. 2004 respectively. BANK ALFALAH LIMITED . 02 dated May 12. 10 NOTES TO THE ACCOUNTS FOR THE SIX MONTHS ENDED JUNE 30. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies adopted in preparation of half yearly financial statements are same as those adopted in the preparation of the financial statements for the preceding year ended December 31. Building. the Bank acquired the operations of Shamil Bank of Bahrain B. Further. 2004. According to the agreement the entire undertaking of the Branch including all the property. Karachi. I.C.

11 NOTES TO THE ACCOUNTS 4.433.380.349 158.007 billion placed with Central Bank of Bangladesh to meet the minimum capital requirement of the Dhaka branch.735. (51.345 39.318 35.680. 75. 278.078) .206 29.1. 283.318 34.538.667 35.649.471 20.857.541 Provision for diminution in value of held for trading investments (51.2 million) ordinary shares of Rs.700.606 28.884. 1.347 41.817 million) ordinary shares of Rs.2 This represents investment in 170 million (2004: 113. 10 each of Warid Telecom (Private) Limited.447 4.700.543 million placed with Da Afghan Bank of Afghanistan to comply the minimum capital requirement for grant of banking licence for proposed branch in Afghanistan.859 141.503.165) (Deficit) / surplus on revaluation of available for sale securities (121.165) . 10 each of Alfalah Securities (Private) Limited and 3.898 28.1.029 141.366) .000 .2 1. 9.762 29.991 .88 million (Taka 1 billion) equivalent to Rs. 4.259 141.415 141. 109.1.36 million) ordinary shares of Rs. 1.743.239 . 1. 287.600 . BANK ALFALAH LIMITED .078) 138. (121.935 877.397.815.347 39.355 Held to maturity securities 29.065 Available for sale securities 9. CASH AND BALANCES WITH TREASURY BANKS 4.521.991 4.649.1 This includes an amount of USD 15.1 This represents investment in 7.1 Investments by types 30 June 2005 (un-audited) 31 December 2004 Held by Given as Total Held by Given as Total bank collateral bank collateral (Rupees in '000') Held for trading securities 278. INVESTMENTS 5.138.346. 10 each in Alfalah GHP Investment Management Limited.6 million (2004: 4.552.447 5.956.36 million (2004: 3.000 1.176 41.529 5.347 29.239 283.1 109.755.735.311.611.376 23.347 41.138.176 .065 .822 million equivalent to Rs.820 41.2 This includes an amount of USD 4.600 Associates 5. (2. 5.196 5.747.132.366) (2.694.223 5.420 5.600 75.1.600 .765 Subsidiaries 5. 5.

18.355 Held to maturity securities Unquoted Term Finance Certificates 1. 10. 5.447 4.837 1.334 3.2 Investments by types (Rupees in '000') Held for trading securities Ordinary shares / units of listed companies 278.129 10.043 789.346.328. 6.259.341 85.311.240 13.991 4.538.1 This includes investments in ordinary shares of listed companies of Rs.223 5.077 Unquoted Securities Ordinary shares of unlisted companies 76.141.318 35.956.471 20.065 Available for sale securities Government Securities Market Treasury Bills 5.138.334 .670 .600 75.221 211.552.225.420 5.524 9.898 28. 85. 76.667 35. 362.649.240 .628.376 23.029 141.138.755.235.366) .034 .747.935 877. (2.168 232.735.150 .1 426.349 158.297 8.700.221 .865 . 4.345 Subsidiary Companies 109.239 283.168 . 1.524 . 874.017 million (2004: Rs.165) (Deficit) / surplus on revaluation of available for sale securities (121.176 41.141. 1.150 4.206 29. 15.120 .356 Certificates of investment 155.347 10. 155.600 . 205. 426.769 17.859 141. - Pakistan Investment Bonds 2.189 .2.649.341 29. (51.600 Associated Company 1.534.316 362. 75.415 141. 1. 8. 278.176 .196 5.000 1.762 29.000 .778 141.347 41.356 .700.429 Pakistan Investment Bonds 9.521.366) (2.697.356 .420 4. 2.139.436 .915.034 Listed Term Finance Certificates 363.341 .429 .433.541 Provision for diminution in value of held for trading investments (51. 283.078) .865 205. 512. 789.017 million) of Islamic Banking Division.680.132.600 .859 Federal Investment Bonds 10.341 .857. 139.436 874.503.670 1.694.078) 138.010.609 Government Bonds 85.820 41. 1.348.754 Quoted Securities Ordinary shares / units of listed companies 5.598.235.380. 85.043 . 9.915.125 8.165) .991 . 109.598 .598 Prize Bonds 5.628.239 .439 877.347 29. BANK ALFALAH LIMITED .611.205.065 . (121.966 Treasury Bills 18. 12 NOTES TO THE ACCOUNTS 30 June 2005 (un-audited) 31 December 2004 Held by Given as Total Held by Given as Total bank collateral bank collateral 5.625.158 .868.189 15. 232.815.334 877.529 5. . 363.316 .625.837 .840 3.2.837 .158 3.697.120 512.356 6.297 .178.077 . 5.420 4. 211.347 41.918.

959 million (2004: Nil) of Islamic Banking Division.583 - Net investment in finance lease / Ijara Financing .111 .3 2. 2.183.092. 6.525.780 80.781 Loss 880.6 During the period the bank has written off advances amounting to Rs.536.610 98.623.2 1.5 (1. 6.324. 6.9.2 This represents advances of Dhaka Branch.139 1.437 43.647. Bangladesh amounting to Rs. 6.725 million (2004: Rs.617 827.903 6.333 1.733. 26.176 million (2004: 2. cash credits. 3.325.in Pakistan 9.097 90.499 5. . 29.954 .in Pakistan 6. Bangladesh.360. - Bills discounted and purchased (excluding treasury bills) .811 858.outside Pakistan .1 82.Payable in Pakistan 6.866 1.199 3.954 7.7 Advances include Rs.932 841.013 million (2004: Nil) respectively.75 million (2004: Rs. 6.8 Category of classification Provision Required Provision Held Domestic Overseas Total Specific General Specific General (Rupees in '000) Other Assets Especially Mentioned 73.903 .291. 6.935. 6.4 2.374.703 7.457 Provision for non-performing advances 6.4 This includes bills discounted and purchased by Islamic Banking Division and Dhaka Branch.413 million) which have been placed under non-performing status.362 Doubtful 29. 1.201 839. 36.3 This includes bills discounted and purchased by Islamic Banking Division amounting to Rs.936.400 6.Payable outside Pakistan 6.257. 166. 13 NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 6.049. ADVANCES Loans.752 43. 35.210 . 117.158 11.062 576.932.359 88.1 This includes murabaha and musharika financings of Rs.033.458 .5 This includes general provision for non-performing advances of Rs.262 million).932 million (2004: Rs.203 million (2004: Nil) and Rs.178.592 million) of Islamic Banking Division. running finances etc. - Substandard 65.931.458 .180 1.092.637 .293 million).180 923.456 BANK ALFALAH LIMITED .738) (1.851.535 6. 73.outside Pakistan 6.057) 97.282 667. 65.

757 69.968 million).091. 7. 7. Property and equipment and Intangible Assets of Rs.257 1.663 2.932 million (2004: Rs.2 This includes operating fixed assets of Rs.404 Vehicles 49 1.898 BANK ALFALAH LIMITED . 41.944 million (2004: Rs.614 1.722. fixture and equipment. 67.484 1.524 million (2004: Nil) respectively of Islamic Banking Division. fixtures and equipment 358. 3.984 427.442 (2004: Nil) million respectively of Islamic Banking Division.438.2 Following additions were made at cost during the period Leasehold land.2.1 This includes Leasehold land.198.1 This includes Capital work-in-progress. 3. Rs.069 million (2004: Rs.504 7.808 Vehicles 74. 34. 565.355 495. 14 NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 7.434 million) and Rs.001 4. 6. 10. building and improvement. building and improvements 755.385 million (2004: Rs. 464.280. fixtures and equipment 2.776 32. OPERATING FIXED ASSETS Capital work-in-progress 680.629 5.870 3. 6.322 Intangible assets 34. furniture.157 million (2004: Rs. 108.717 million) and Rs.596.752.605 million).553 Property and equipment 4. Bangladesh.072 million).3 Following disposals / deletions were made at written down value during the period Furniture. 7.547 1. 56.587 Intangibles 8.090 7. 10.211 Furniture.2.775 million (2004: Nil) of Dhaka Branch. vehicles and intangibles of Rs. Rs. Rs.969 7.494 2.

632. 15 NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 8.2.892.714.316 129.505 Repurchase agreement borrowings 100.891 9.972 3.267.830 9.031 21.669 162.281 Non-remunerative deposits 110.736.218 162.503.728.213.781 16.506.191 3.487.534 million (2004: Rs. managed modarabas and associated undertakings .316 129.587.555 243. BANK ALFALAH LIMITED .027.484 12.795 Non-remunerative Current accounts 46.653. call and sundry deposits 2.555 6.388 3.723.081 Savings deposits 70.000 5.137.2.463.570 117.673 In foreign currencies 9.891 9.2 Particulars of deposits In local currency 146.307 million) of Islamic Banking Division. - Borrowings from directors (including chief executive) of the bank .677.548. DEPOSITS AND OTHER ACCOUNTS Customers Remunerative Fixed deposits 39.389 471.687.1 This includes deposits of Rs.779 Financial Institutions Remunerative deposits 3. 10.830.275 Unsecured Call borrowings 100.000 Overdrawn nostro accounts 143.000 115.770 6. 1.116 million (2004: Nil) of Dhaka Branch.413 2.567 Margin.965.174.736. - Borrowings from subsidiary companies.105.873 12.123. - Borrowings from State Bank of Pakistan Under export refinance scheme 6.141 36.759 65.616. BORROWINGS FROM FINANCIAL INSTITUTIONS Secured Borrowings from financial institutions .1 16.746 12.519. Bangladesh.1 This includes deposits of Rs.272. 9.389 586.714. 6.459.484 6.

Government 1. - 2.1 Direct credit substitutes Contingent liability in respect of guarantees given favouring: .698.564 559. 93.300 10.286. 529.554 14.Banking companies and other financial institutions 259.1 This includes letters of guarantee of Rs.Others 987.4 Other contingencies Claims against the Banks not acknowledged as debt 306.177.Government 9.867 3.038 72.749. 10.013 Resale 9.892 636.268.516 .3.3 Trade-related contingent liabilities Letters of credit 10.887 12.3.000 10.267.500 866.516.487 10.1 17. - Forward repurchase agreement lending 500. 10.962 .416. shipping guarantees.Banking companies and other financial institutions 44.5 Commitments in respect of forward lending Forward call lending .000 Others .233. 10.2 Transaction-related contingent liabilities Contingent liability in respect of performance bonds.436 8.158 5. 16 NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 10.475 .947.132 119.6 Commitments in respect of forward exchange contracts Purchase 5.443 - BANK ALFALAH LIMITED . 112.317 Sale 5.Others 4. 555.149 million (2004: Nil) of Islamic Banking Division.724 4.258.107 9.542.510.2.913 75.828 million) of Islamic Banking Division.154.297.1 This includes letters of credit of Rs.473 million (2004: Rs. CONTINGENCIES AND COMMITMENTS 10.677.496 million) of Islamic Banking Division.913.034. bid bonds.3. standby letters of credit etc.3.247 10.853 million (2004: Rs. favouring: .2 4.494 1.2 This includes acceptances of Rs.107 10.261 701.066.050 2. 225.182 5.500 866.563 14.200 10.909 10.7 Commitments for the acquisition of operating fixed assets and intangibles 583.8 Commitments in respect repo transactions Repurchase 148.351.526.037 .842 Acceptances 10.000 - Commitments to extend credit 2.

1 This includes other income of Rs.636 11.950 97. . retirement benefit funds.448 Net movement 92. RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial or operational decisions and include holding company. Further.018 405. taxability of profit on government securities. Contributions to and accruals in respect of staff retirements and other benefit plans are made in accordance with the actuarial valuations / terms of the contribution plan. 70 2. Remuneration to the executives are determined in accordance with the terms of their appointment. TAXATION The income tax assessments of the Bank have been finalised upto and including tax year 2004. 13.1 Financing Balance at beginning of the period 100.787 1. Matters of disagreement exist between the Bank and tax authorities for various assessment years and are pending with the Commissioner of Income Tax (Appeals).557 Gain on sale of PIBs . The issues mainly relate to addition of mark-up in suspense to income.264 million) of Islamic Banking Division. However.170 1. 13. as those prevailing at the time for comparable transactions with unrelated parties and do not involve more than a normal risk (i. 2005 30 June.706 3.221 million (2004: Rs.253 225. various appeals have also been decided in bank’s favour pertaining to assessment years 1990-91 to tax year 2003. BANK ALFALAH LIMITED . directors and key management personnel. Income Tax Appellate Tribunal (ITAT) and High Court of Sind.656 100.e.258 Balance at the end of the period 193. associated companies with or without common directors.590 Others 77. adequate provision has been made in accounts. 17 NOTES TO THE ACCOUNTS 11. 12. during the year.908 175.366 136. including mark up rates and collateral. 2005 30 June.649 47. Details of transactions with related parties and balances with them excluding those entered into with directors/ executives as per their terms of employment as at the period-end were as follows: 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 13.840 Gain / (loss) on sale of shares / certificates . 2004 (Rupees in '000') Net profit on sale of property and equipment 598 1. OTHER INCOME 2005 (un-audited) 2004 (un-audited) Three Months Six Months Three Months Six Months Period Ended Period Ended Period Ended Period Ended 30 June.810) 142.150 91.782 187.570 330. 2004 30 June.706 These accounts are of current nature which are subject to variations. 14.686 230. under the comparable uncontrolled price method). Banking transactions with the related parties are executed substantially on the same terms.net (30. bad debts written off and disallowance relating to profit and loss expenses.

2005.625 Security deposit .885 Maximum amount utilised under Running Finance arrangement 222.843) Balance at the end of the period 826.795) (30.261 5.054 60.2 Deposits Balance at beginning of the period 60.874 211.152 Contribution to employee provident fund 21. 15. 503 Bank charges recovered 131 36 Subscription towards share capital of subsidiary 34.329 25.000 - There are no loans and advances to directors.906 34.799.763. GENERAL Figures have been rounded off to the nearest thousand rupees.3 Mark-up / interest earned 3. 18 NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 13.008 Withdrawal during the period (7.137 Brokerage expense 2. 1.520 30. DATE OF AUTHORIZATION These accounts were approved and authorised for issue in the Board of Directors meeting held on August 23. 209 Communication charges recovered .309. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .329 13.902 3.164 Placement during the period 8.299 Rent income 960 838 Finance lease income 50 82 Lease rentals 533 398 Leases disbursed during the period to subsidiary company .543.014 Remuneration to Directors / Chief Executive 4.400 9. 14.

Consolidated Financial Statements of Bank Alfalah Limited & Subsidiary Companies for the six months period ended 30 June 2005 BANK ALFALAH LIMITED .

794 129.233.907 155.654.608 4.127 - Investments 5 41.383 CONTINGENCIES AND COMMITMENTS 10 The annexed notes 1 to 15 form an integral part of these accounts.925 856.480 Liabilities against assets subject to finance lease 1.668.126.607 4.725.899.800 2.net of deferred tax 678.429 Other liabilities 4.007 5.007 5.838.309 892.299.184.233 3.226. 20 CONSOLIDATED BALANCE SHEET AS AT JUNE 30.266 LIABILITIES Bills payable 2.580.899.311 19.776 Lendings to financial institutions 9.146 275.172 2.339.588.561 Sub-ordinated loans 1.467.365.412 Minority interest 46.083 Operating fixed assets 7 5.862.769 88.427.756.194.927.677.821 2.297 5.772 Unappropriated profit 1.596 Advances 6 97.639.587.056.383 REPRESENTED BY Share capital 2.883 1.883 NET ASSETS 6.900 149.873 12.902 6. 2005 Note 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') ASSETS Cash and balances with treasury banks 4 18.258 Deferred tax liabilities 238.110 1. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .523 Balances with other banks 8.830.830 Deposits and other accounts 9 162.109 35.464 Deferred tax assets .069 Surplus on revaluation of assets .661.708.403.996.298.671 Borrowings from financial institutions 8 6.000 Reserves 1.500.008.999.723.090 41.587.654 178.984 2.824 Other assets 3.967.751 3.299. - 185.

178 300.000) (30.780 589.199 1.711 509.956) Provision for diminution in the value of investments 37.746 848.630.065.308 1.637. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .320) (70.160 1.661 1.058 452.713) (118.340 463.969) (48.120 631.484) (47.251.184.122 631.359 Total non-markup / interest income 386.812 430.000) (360.978 26. 2005 2005 2004 Three Months Six Months Three Months Six Months Period Ended Period Ended Period Ended Period Ended Note 30 June.785 Non mark-up / interest income Fee.048.435 5.591 1.925 1.935 845. - Interim dividend @ 12% (360.857 485.915) (1. .215 88. .165 1.254 2.200.200.184.912 Non mark-up / interest expense Administrative expenses 969.221.Prior .996 108.673 .231 Other provisions / write-offs .015.333 Other income 11 48.144.468) (535.128 Unappropriated profit brought forward 1.487 (49.59 2.212 1.664) Net mark-up / return / interest income 1.647) (97.172) (55.587 1.443 3.273. commission and brokerage income 264.812 1.332 827.000) (30.714. .140. - Profit before taxation 667.825.630 1.775 688.000) .741 405.142 13.907) 245. 9.452 Basic/ Diluted earnings per share Rupees 1.819 229.41 2.200.223 2.913) (2.273.361.296. 2005 30 June. - (444.993 2.552) Bonus shares .335. - Bad debts written off directly (240) (284) (688) (688) (51.705) (169.010 154.489 2.834 Profit available for appropriation 1.452 946.128 422.540 .552) Un-appropriated profit carried forward 1.925 946. - Other charges 265 329 48 48 Total non-markup / interest expenses 969.302.713) (118.633 Taxation .90 1.482) (167.908 590.128 1.217 12.443 Dividend income 11.706 40.358 333.235) (216.815.268.297 655.000) .106 395.127 1. .Deferred 47.701 354.042 Transferred from surplus on revaluation of fixed assets 6.959) (96.629.992 Income from trading in government securities .513 355. . (6.093 Mark-up / return / interest expensed (1.247 1.897 161.138 345.429 Provision against non-performing loans and advances (88.633 Profit after taxation 421.000 Loss attributable to minority interest 1.201) .Current 12 198.004 Appropriations Transferred to statutory reserve (84. .189 954.319.279 Extra ordinary / unusual items .017.917 11.200 48.320) (70.245 1.402 4. 2005 30 June.198 32.705) (529. - Income from dealing in foreign currencies 60.966 259.63 The annexed notes 1 to 15 form an integral part of these accounts.478 856.288 218. 2004 30 June.644) Net mark-up / return / interest income after provisions 1.098. 21 CONSOLIDATED PROFIT AND LOSS ACCOUNT (un-audited) FOR THE SIX MONTHS ENDED JUNE 30.744 737.833 1.856 1.722 (33.775 843. 2004 (Rupees in '000') Mark-up / return / interest earned 2.599.

227 The annexed notes 1 to 15 form an integral part of these accounts.830 Deposits 33.127) 3.824) (1.711 852.227 CASH AND CASH EQUIVALENTS AT END OF THE PERIOD Cash and balances with treasury banks 18.763 2.359) Other assets (281.000 - Dividend received 24.704.233 15.308.293 Balances with other banks 8.851 Less: Dividend income (26.848.952 305.000 625.586 34.000) Payment of lease obligation (608) - Net cash flow from financing activities 998.201 - Bad debts written-off directly 284 688 Gain on sale of operating fixed assets (1.723.296 12.000 27.864.250 Provision against non-performing advances (net off reversals) 167.813.354 Investments in operating fixed assets (1.800 - Share premium received 499.115.758) (16.514.493 19. 2005 30 June 30 June 2005 2004 (Rupees in '000') CASH FLOW FROM OPERATING ACTIVITIES Profit before taxation 1.473 28.386.070. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED . 22 CONSOLIDATED CASH FLOW STATEMENT (un-audited) FOR THE SIX MONTHS ENDED JUNE 30.311 10.017 2.922.502.506.350 1.577 Borrowings from financial institutions (5.203.903.273.514.746) (407.247.407 Income tax paid (516.019 Write off /Amortisation .029 17.014.674.303 (Increase) / decrease in operating assets Lending to financial institutions (9. (500.418.033.725.996.899 19.081.371 456.859 Adjustments for non-cash charges Depreciation 211.068.617.934 Call money lendings 200.957) 13.intangible assets 6.455.713) (14.781 250.416 Other liabilities 1.729 29.142) (32.012.184) (1.062 12.062 12.009) CASH FLOW FROM FINANCING ACTIVITIES Issue of Share Capital 499.858) Net investment in held-to-maturity securities (1.700.397.622 (500.800 - Redemption of term finance certificates (370) (130) Dividend paid .911 Cash and cash equivalents at beginning of the period 22.749) (662.192) Increase / (decrease) in operating liabilities Bills payable 427.751 1.844.018.117 132.850 5.569 819.395.050 CASH FLOW FROM INVESTING ACTIVITIES Net investment in available-for-sale securities (4.594) (328.956 Provision for diminution in value of investments 49.586) (10.643) Investment in associated company (561.501 679.840) Provision for gratuity 23.892.381.940.922.176) Proceeds from the issue of share capital of subsidiary company 6.549 Advances (8.316 Cash and cash equivalents at end of the period 27.299 9.748) Net investment in held-for-trading securities 4.382) (17.444 1.327.130) Increase in cash and cash equivalents 5.540) Sale proceeds of property and equipment disposed-off 4.031) (199.583) (14.992) 1.602 Net cash flow from investing activities (7.826 (104.138.357) Net cash flow from operating activities 11.484 96.

.net of tax . .435 12. .858 Transfer from surplus on revaluation of fixed assets .000 .net of tax . 908.000. 2004 2. 1.365. 463.800 .000 .834 Transfer to statutory reserve . . . (99.000) (500.184. (9) Interim dividend @ 12% .925 5.178. 11. . . .855. .000) Balance at June 30.000 Balance at January 1. 2004 2.092 (9) 1. . .600 Effect of foreign currency translation . 99. 118. (500. .000) - Balance at December 31.378 Net profit for the period . 23 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (un-audited) FOR THE SIX MONTHS ENDED JUNE 30. (169.862.846) - Issue of bonus shares 500.846 .833 11.000.926 . 11. . . . . 946.435 Issue of Rights shares 499. .320 .800 1. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .042 3.net of tax . 2004 as restated 2.128 Transfer from surplus on revaluation of fixed assets .128 590. .834 11. .416 Effect of Change in accounting policy with respect to dividend declared after the balance sheet date . 790. . .297 4. 2005 2.833 Transfer to statutory reserve . . . .000 500. 999.008. (360.000 .069 Net profit for the period .416 Net profit for the period . 2005 Exchange Share Share Statutory Translation Unappropriated Capital Premium Reserve Reserve profit TOTAL (Rupees in '000') Balance at January 1. . .452 3.800 499. . 845. (500. (118.374 .500. 590. .042 3.999.320) - Transfer from surplus on revaluation of fixed assets . 500. 790.513 845. 856. 963. 169.858 497.513 Transfer to statutory reserve .552) - Dividend paid .000) Balance at June 30.772 . .000) (360.000. 2004 as previously reported 2.000 .552 . 497.800 499. .753. (9) .374 . .608 The annexed notes 1 to 15 form an integral part of these accounts. 12. .000 . . .253.

the Bank acquired the operations of Shamil Bank of Bahrain B. Gains and losses arising on translation are taken to Exchange Translation Reserve. It commenced banking operations from November 1. 2004. 2004. The principal objective of the company is to undertake the business of brokerage house. 2004 and July 6. BANK ALFALAH LIMITED . 1984. During the period. float and manage open-ended and closed-ended funds. 02 dated May 12. 1962 and is operating through 99 conventional banking (December 2004: 90) branches. Foreign operations Initial recognition The assets and liabilities of foreign branches taken over are initially recognised at cost any resulting goodwill is immediately written off. assets and liabilities and all the rights and obligations were taken over by the Bank.A. 2003 with registered office in Karachi. BASIS OF PRESENTATION These financial statements are being presented in a condensed form in accordance with the requirements of ‘International Accounting Standard 34 – Interim Financial Reporting’ and on the ‘Format of the Accounts and Mode of Disclosures’ issued by the State Bank of Pakistan through its BSD Circular Letter No. The principal activity of the company is to act as asset management company. 2005 1. Karachi. The Bank has invested in 19.88 million under an agreement dated November 1. 15 Islamic Banking (December 2004: 11) branches and 1 overseas (December 2004: Nil) branch.44 percent shares of Warid Telecom (Private) Limited. Pakistan. 1984 with registered office in Karachi. Chundrigar Road.C. The principal activity of the company is to undertake the business of mobile telecommunication. According to the agreement the entire undertaking of the Branch including all the property. 24 CONSOLIDATED NOTES TO THE ACCOUNTS FOR THE SIX MONTHS ENDED JUNE 30. 1992. The Bank is listed on Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited with effect from July 5. 2. I. Subsequent measurement Assets and liabilities of the foreign operation are translated into rupees at the exchange rate prevailing at the balance sheet date. 2004 respectively. STATUS AND NATURE OF BUSINESS Bank Alfalah Limited (the Bank) was incorporated in Pakistan on June 21. Its registered office is situated at B. Bangladesh operations for USD 17.S. Building. 2004. The Bank has invested in 56 percent shares of Alfalah GHP Investment Management Limited. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies adopted in preparation of half yearly financial statements are same as those adopted in the preparation of the financial statements for the preceding year ended December 31. 1992 as a public limited company under the Companies Ordinance. The Bank has invested in 76 percent shares of Alfalah Securities (Private) Limited. The Bank is engaged in banking services as described in the Banking Companies Ordinance. 2004 as a public limited company under Companies Ordinance. investment advisor / fund manager and constitute. Further. 1984. Alfalah GHP Investment Management Limited was incorporated on October 18. Pakistan. Profit and loss account is translated at the average rate of conversion for the period. Alfalah Securites (Private) Limited was incorporated on September 23. these accounts are being circulated to the shareholders in accordance with the requirements of Section 245 of the Companies Ordinance. I. 3.

1.935 877.471 20.752.941 Provision for diminution in value of held for trading investments (51.206 141.239 283.078) 138.929 5.355 Held to maturity securities 29.239 . (51.029 141. 1.700.553 28.1 1.938 4.420 5.447 5.366) (2.596 5.735.938 .206 141. 278. 287.765 Associates 5.822 million equivalent to Rs. BANK ALFALAH LIMITED . (121.817.1 This represents investment in 170 million (2004: 113.065 .376 23. (2.138.433.911. CASH AND BALANCES WITH TREASURY BANKS 4.857.318 35.176 41.817.347 41. 10 each of Warid Telecom (Private) Limited.755.347 40. 9.611.88 million (Taka 1 billion) equivalent to Rs.700.438.815.1 This includes an amount of USD 15.176 .956.623 5.427.580.2 This includes an amount of USD 4.447 4.667 35.132.762 141. 1.165) .345 39.366) . INVESTMENTS 5.347 41.349 158.1 Investments by types 30 June 2005 (un-audited) 31 December 2004 Held by Given as Total Held by Given as Total bank collateral bank collateral (Rupees in '000') Held for trading securities 278.817 million) ordinary shares of Rs.109 29.397.000 . 5.820 41.543 million placed with Da Afghan Bank of Afghanistan to comply the minimum capital requirement for grant of banking licence for proposed branch in Afghanistan.680.065 Available for sale securities 9.165) (Deficit) / surplus on revaluation of available for sale securities (121.538.535.898 28.1. 25 CONSOLIDATED NOTES TO THE ACCOUNTS 4. 4.000 1.553 29.007 billion placed with Central Bank of Bangladesh to meet the minimum capital requirement of the Dhaka branch.311.318 34.138. 283.052.347 29.078) .735.270.671. 1.

6.017 million (2004: Rs.817.239 283.141.366) .538.347 41.150 5.078) .898 28.259.065 . 10. 8.109 29.2 Investments by types (Rupees in '000') Held for trading securities Ordinary shares / units of listed companies 278.029 141.239 .817.138. 9.138.349 158.165) (Deficit) / surplus on revaluation of available for sale securities (121. BANK ALFALAH LIMITED .915.628.221 . (51.168 .010. 205.240 .837 1. 85.043 .762 141.316 .2.941 Provision for diminution in value of held for trading investments (51.376 23.366) (2.815.168 232.341 .176 . 85.341 .383 874.820 41.598 Prize Bonds 5.125 8.347 29.189 . 1.176 41. 594.165) . 139.078) 138. 512. 362. 232.611.034 .625.318 35.158 3.700.334 877.341 29.129 10.316 362.221 211.132.420 4.752.1 This includes investments in ordinary shares of listed companies of Rs.139.433.438.865 .000 .938 . 4.553 29.868.067 .778 141.297 . 155.420 5.270.034 Listed Term Finance Certificates 363. 76. 5.077 Unquoted Securities Ordinary shares of unlisted companies 76.189 15. 283.956.141.697.205.700.017 million) of Islamic Banking Division. 278.865 205.178.240 13. 2.857.524 9.067 512.623 5.535.150 4.754 Quoted Securities Ordinary shares / units of listed companies 5.680.334 3.345 Associated Company 1. - Pakistan Investment Bonds 2.356 6.697.347 10.935 877.297 8.918.341 85.420 4.609 Government Bonds 85.347 41.383 .1 594.077 . 1.235.534. 957.670 1.447 4.043 957. 211.735. 363.524 .938 4.580.206 141.429 .427.328.348.355 Held to maturity securities Unquoted Term Finance Certificates 1.2.065 Available for sale securities Government Securities Market Treasury Bills 5.769 17.000 1.755.670 . (2. 26 CONSOLIDATED NOTES TO THE ACCOUNTS 30 June 2005 (un-audited) 31 December 2004 Held by Given as Total Held by Given as Total bank collateral bank collateral 5. .915.311.837 .471 20.598 .158 .235.837 .225. 1.356 .966 Treasury Bills 18.596 5.671. 15. 1.628.356 .929 5.429 Pakistan Investment Bonds 9. 874.840 3.859 Federal Investment Bonds 10.625.334 . 18.598. (121.439 877.667 35.356 Certificates of investment 155.

117.outside Pakistan .293 million).592 million) of Islamic Banking Division.413 million) which have been placed under non-performing status.4 This includes bills discounted and purchased by Islamic Banking Division and Dhaka Branch.333 1.5 (1. 29.458 . 166.2 1.437 43.935.954 .2 This represents advances of Dhaka Branch.in Pakistan 6. - Substandard 65. ADVANCES Loans.111 .092. 35.199 3. 36. 6.781 Loss 880.932.738) (1.180 1.652.4 2. 9.176 million (2004: 2.619.811 858. 1.1 This includes murabaha and musharika financings of Rs.536.013 million (2004: Nil) respectively.049.5 This includes general provision for non-performing advances of Rs. 6.903 6.752 43.7 Advances include Rs.824 6.282 667.959 million (2004: Nil) of Islamic Banking Division.033.838.642.507 90. .201 839.139 1.75 million (2004: Rs.903 . 6.703 7.3 This includes bills discounted and purchased by Islamic Banking Division amounting to Rs.8 Category of classification Provision Required Provision Held Domestic Overseas Total Specific General Specific General (Rupees in '000) Other Assets Especially Mentioned 73. cash credits.132 6.466 .126. 3. 27 CONSOLIDATED NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 6.647.262 million).092.6 During the period the bank has written off advances amounting to Rs.866 1.360.805 . 6.593 80.1 82.Payable in Pakistan 6. - Bills discounted and purchased (excluding treasury bills) . 26.881 Provision for non-performing advances 6.062 576.outside Pakistan 6. 6.372.617 827. 6.057) 97. 73.in Pakistan 9.204 million (2004: Nil) and Rs.183. 6.932 841. running finances etc.3 2.178.525.499 5.362 Doubtful 29.932 million (2004: Rs.Payable outside Pakistan 6.257.583 - Net investment in finance lease / Ijara Financing .769 88. Bangladesh.458 .610 98.324. 2. 65.954 7.158 11.725 million (2004: Rs. Bangladesh amounting to Rs.180 923.456 BANK ALFALAH LIMITED .198.742.

389 471. 464. Bangladesh 7.142 5.385 million (2004: Rs.404 Vehicles 49 1. - Borrowings from directors (including chief executive) of the bank .555 243.784 1.000 Overdrawn nostro accounts 143.770 6. fixture and equipment.168 1.677.211 Furniture. fixtures and equipment 2. Rs.775 million (2004: Nil) of Dhaka Branch . vehicles and intangibles of Rs. Property and equipment and Intangible Assets of Rs.587.397 3.298.004 Intangible assets 35.494 2.2 This includes operating fixed assets of Rs. 28 CONSOLIDATED NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 7. 41.987 436.830.932 million (2004: Rs. 10.091.663 Intangibles 8.484 6. 10.487. - Borrowings from State Bank of Pakistan Under export refinance scheme 6.723. BORROWINGS FROM FINANCIAL INSTITUTIONS Secured Borrowings from financial institutions . Rs. 7.484 12.830 BANK ALFALAH LIMITED . 3.459.605. building and improvements 755. 67.873 12.944 million (2004: Rs. 3.212. fixtures and equipment 369.524 million (2004: Nil) respectively of Islamic Banking Division. - Borrowings from subsidiary companies.318 Property and equipment 4.1 This includes Leasehold land.833 2.157 million (2004: Rs.434 million) and Rs.717 million) and Rs.467.555 6.2. 6.006 500. 34.223 Vehicles 77. 7. Rs.547 1.061 1. OPERATING FIXED ASSETS Capital work-in-progress 686. furniture.072 million).137.275 Unsecured Call borrowings 100.000 5.000 115.765. building and improvement.204 33. 6. managed modarabas and associated undertakings .607 4.464 7.969 8.746.505 Repurchase agreement borrowings 100.442 (2004: Nil) million respectively of Islamic Banking Division.389 586.2. 56.558 69.968 million).605 million). 565.3 Following disposals / deletions were made at written down value during the period Furniture.1 This includes Capital work-in-progress.069 million (2004: Rs.265 7. 108.898 8.2 Following additions were made at cost during the period Leasehold land.

779 Financial Institutions Remunerative deposits 3. 10.Government 1.781 16.2. 112.649 2.Others 987. 10.123.258.1 Direct credit substitutes Contingent liability in respect of guarantees given favouring: .112.913 75.516 .487 10.2 Particulars of deposits In local currency 146.794 129.153.174.671 36.Government 9.388 3.943 65.516.794 129.1 This includes deposits of Rs.Banking companies and other financial institutions 44. Bangladesh.034.588. DEPOSITS AND OTHER ACCOUNTS Customers Remunerative Fixed deposits 39.107 9. 29 CONSOLIDATED NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 9.038 72.066.534 million (2004: Rs.616.2 Transaction-related contingent liabilities Contingent liability in respect of performance bonds.867 3.548.343 In foreign currencies 9.668.654. CONTINGENCIES AND COMMITMENTS 10.267.561 9.853 million (2004: Rs.519.050 2.1 16.669 162.475 .2.081 Savings deposits 70.Others 4.717. 6.892 636.962 .494 1.1 This includes deposits of Rs.965. 225. favouring: . 1. bid bonds.564 559.307 million) of Islamic Banking Division.795 Non-remunerative Current accounts 46.037 .048 117.668.559 21.496 million) of Islamic Banking Division.561 9.281 Non-remunerative deposits 110.396.237 Margin. standby letters of credit etc.506.286.503.272.191 3.632.746 12. 9.268.027.Banking companies and other financial institutions 259.554 14. BANK ALFALAH LIMITED .2.1 This includes letters of guarantee of Rs.107 10.267.116 million (2004: Nil) of Dhaka Branch.154.218 162.627.654.972 3. call and sundry deposits 2.887 12.892. shipping guarantees.749.

297.221 million (2004: Rs.358 333. 2004 Net profit on sale of property (Rupees in '000') and equipment 612 1.253 225.787 1.819 229.1 17.557 Gain on sale of PIBs .net (26.190 91. - Forward repurchase agreement lending 500. 13.698.013 Resale 9.500 866.2 4.741 405.526. OTHER INCOME 2005 (un-audited) 2004 (un-audited) Three Months Six Months Three Months Six Months Period Ended Period Ended Period Ended Period Ended 30 June. 2005 30 June.3.7 Commitments for the acquisition of operating fixed assets and intangibles 583.828 million) of Islamic Banking Division.3 Trade-related contingent liabilities Letters of credit 10.149 million (2004: Nil) of Islamic Banking Division. 30 CONSOLIDATED NOTES TO THE ACCOUNTS 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 10.6 Commitments in respect of forward exchange contracts Purchase 5. 70 2.416. - 2. 2004 30 June.2 This includes acceptances of Rs.351.542.436 8.359 11.473 million (2004: Rs.317 Sale 5.913.132 119.264 million) of Islamic Banking Division.443 - 11.563 14. 2005 30 June.247 10.909 10. .731) 146.477 186.177.182 5.200 10. 10. BANK ALFALAH LIMITED .233.1 This includes other income of Rs.724 4.372 48. 10.947.5 Commitments in respect of forward lending Forward call lending .300 10.3.445 136. 529.840 Gain / (loss) on sale of shares / certificates .510.261 701.631 175.500 866.3.000 - Commitments to extend credit 2. 93. 555.4 Other contingencies Claims against the Banks not acknowledged as debt 306.842 Acceptances 10.000 Others .184 1.8 Commitments in respect repo transactions Repurchase 148. 14.3.000 10.677.158 5.590 Others 74.1 This includes letters of credit of Rs.

directors and key management personnel. Remuneration to the executives are determined in accordance with the terms of their appointment. 13. associated companies with or without common directors. Further. adequate provision has been made in accounts.431 9.476 There are no loans and advances to directors. 14. during the year. as those prevailing at the time for comparable transactions with unrelated parties and do not involve more than a normal risk (i.897 3. 31 CONSOLIDATED NOTES TO THE ACCOUNTS 12. Details of transactions with related parties and balances with them excluding those entered into with directors/ executives as per their terms of employment as at the period-end were as follows: 30 June 31 December 2005 2004 (un-audited) (Rupees in '000') 13.448 Net movement 781. However.1 Deposits Balance at beginning of the period 9. under the comparable uncontrolled price method). bad debts written off and disallowance relating to profit and loss expenses. including mark up rates and collateral.400 9.014 Remuneration to Directors / Chief Executive 4. Banking transactions with the related parties are executed substantially on the same terms. 2005. Matters of disagreement exist between the Bank and tax authorities for various assessment years and are pending with the Commissioner of Income Tax (Appeals). DATE OF AUTHORIZATION These accounts were approved and authorised for issue in the Board of Directors meeting held on August 23. taxability of profit on government securities. various appeals have also been decided in bank’s favour pertaining to assessment years 1990-91 to tax year 2003. Contributions to and accruals in respect of staff retirements and other benefit plans are made in accordance with the actuarial valuations / terms of the contribution plan. Income Tax Appellate Tribunal (ITAT) and High Court of Sind. TAXATION The income tax assessments of the Bank have been finalised upto and including tax year 2004.405 34. 15.014 1.449 Balance at the end of the period 791.534 6. GENERAL Figures have been rounded off to the nearest thousand rupees.625 Remuneration to Directors / Chief Executive of subsidiary company 1. Contribution to employee provident fund 22. retirement benefit funds. The issues mainly relate to addition of mark-up in suspense to income.897 These accounts are of current nature which are subject to variations. RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial or operational decisions and include holding company. Chief Executive Officer Director Director Chairman BANK ALFALAH LIMITED .e.

Phase-I. NP-10 (Old Surv. 32 BRANCH NETWORK KARACHI North Napier Road Branch Surv.A. Lawrence Quarters. 4984937. Phone : (021) 5833778-82 Fax : 5879175 Defence Housing Authority Branch Plot No. Main Shershah Road. 6625880 Fax : 6625402 North Karachi Industrial Area Branch Gulistan-e-Jauhar Branch Sector 12-B. Quaid-e-Azam New Truck Stand Phone : (021) 2355872 Fax : 2355873 Karachi Stock Exchange Branch 18-20. 2731502 Fax : 2750629 Phone : (021) 2414138-40 & 2412080 Fax : 2412082 S. Phone : (021) 4815926-27. 6626004. M. Haji Ishaq Market. Block 13-B. 6344700. Shershah Branch Stock Exchange Road. Jinnah Road.No. Main Korangi Road. Adamjee Nagar. Gulshan-e-Iqbal. Federal 'B' Area. 4128578-81 Fax : 4129676 Cochinwala Market.5&6 Fax : 6803043 Aiwan-e-Sanat. Clifton Branch Phone : (021) 2750635-9 Fax : 2750632 World Trade Centre. Progressive Square. Building.23/1. Bahadur Shah Zafar Road. Shahrah-e-Faisal.13. Saima Classic Rashid Minhas Road. Phone : (021) 2401621-6 Fax : 2401627-2418896 Timber Market Branch Ground Floor. Block 'E'.A. Plot # ST-4. 45/1/2. 15.Chundrigar Road.I. Paper Market.R. 4815930 Fax : 4815924 Phone : (021) 6987644. Siddique Wahab Road.Jinnah Road/Abdullah Haroon Road. Phone : (021)2750627-28. Korangi Industrial Area Branch Phone : (021) 6803041.A26/5). Khayaban-e-Romi.I. Jodia Bazar Branch Phone : (021) 4535861-2 4538423-24 Fax : 4314221 Gulzar Manzil. Marriot Road Branch M.C. Phone : (021) 2544021-24.T. Plot No.T.I. Plot No. Murad Khan Road. North Karachi Industrial Area. S. 1-3.26th Commercial Street Phase V. Shop No.E. Phone : (021) 4984851. Zelin Place (Habib Bank Building). Phone : (021) 2581247.Jinnah Road Branch Plot No. 2434181 Prime Arcade. 2582114-6 North Nazimabad.S.H. Main Hawksbay Road.R. Marriot Road. Block .E. Fax : 2582113. Karachi Stock Exchange Building. Campbell Street. Block-2. Karachi Survey # 67.7/23. Tipu Sultan Road. S. 4522441-2 Fax : 4313539 PECHS Branch Shop No. S. Jodia Bazar. D-283.A. Cloth Market Branch Phone : (021) 4129677-81. Siemens Chowrangi. Eidgah Branch Korangi Industrial Area. Sheet # M. 2540989 Fax : 2540066 B. 6986170 Fax : 6986051 Tipu Sultan Road Branch Paper Market Branch Z-111-112. : 111-777-786 Bahadurabad Branch Fax : 2417006. P. Phone : (021) 5374330-35 Fax : 5373722 Phone : (021) 4313536-37 .40 & 42 C. Estate Avenue. Clifton. Branch Hyderi (North Nazimabad) Branch D-40.A. Wadhumal Udharam Quarters. 3. Phone : (021) 5887571-73 Fax : 5887574 University Road. Shahrah-e-Faisal Branch Defence Housing Authority. 2581247 Phone : (021) 6626066. No. Phone : (021) 2741471-3 Fax : 2741474 M. Opp. KDA Scheme No. Sur. 35 / Sheet No.E. 30-31.SB-15. Main Branch Napier Quarters. Phone : (021) 5065701-2 Fax : 5050653 Near Light House.T. 9th East Street. 154-S. Bahadurabad.E.7544816-20 Fax : 7532485 Federal 'B' Area Branch C-28. Phone : (021) 4398457-9 Fax : 4398456 Phone : (021) 2211353-58 Fax : 2211243 DHA Phase-I Branch 114. 30.1. Luxmidas Street. 4984904 Hawksbay Road Branch Fax : 4984971 KB-28.24. Phone : (021) 7532483-4. Plot No. I. Phone : (021) 2417515-19 Fax : 2418353 Phone : (021) 2585001-4 Fax : 2585005 BANK ALFALAH LIMITED . No.I. Opp: Police Station Gabol Town. Al-Burhan Circle Hyderi. Gulshan-e-Iqbal Branch Defence Housing Authority. Sector 23.ST-4/2. Phone : (021) 2414030-39 UAN No.

Phone : (042) 6012000-30. 6300581. Azam Cloth Market G-9. New Airport Road. GAWADAR Phone : (042) 7708661-65 Fax : 7708660 Gawadar Palace Motel. Block 10. Akbar Block. 33 BRANCH NETWORK HYDERABAD Shadman Market Branch Shop No. 5729722-26 Fax : 5729727. 1-B. Faysal Chowk. Road. Shadman Market. Urdu Bazar Branch Phone : (042) 7638256-8 Fax : 7653384 Main Kabir Street. Main Ferozpur Road Phone : (042) 5807810. Hazar Gunji. Phone : (042) 5700301-309 Fax : 7500311 Phone : (042) 5877800-8 Fax : 5754900. 5807812-4 Fax : 5807811 Badami Bagh Branch 29-30 PECO Road. Jinnah Road Branch Phone : (042) 6307461-69 Fax : 6307460 Property No. Allam Iqbal Town. Commercial Area. Phone : (042)6306201-06 Fax : 6307836. Phone : (042) 7673401-6 Fax : 7673409 Phone : (051) 4435804-6 Fax : 4435807 BANK ALFALAH LIMITED . 841180-83 Fax : 827562 Baghbanpura Branch G. adjacent to Hotel Faran. Liberty Market. Frere Road. Circular Road. Jinnah Avenue. 2274766 Shah Alam Market Branch I-10 Markaz Branch Hilal-e-Ahmar Health Complex. Umer Din Road. Khayaban-e-Iqbal. Urdu Bazar Phone : (042) 7210644 Fax : 7210647 Township Branch 47-B/1. Badami Bagh. Baghbanpura. Gulberg-III. Akbar Chowk.A. Shah Alam Market. Phone : (042) 5431802-05 Fax : 5431806 Phone : (021) 2355872 Fax : 75127 Shahdin Manzil Branch LAHORE Shahdin Manzil. Business Centre. Mall Road. 333.T. 334. I-10 Markaz. Hazar Gunji Branch Phone : (042) 6844002-09 Fax : 6844010 Plot No. 24750 Fax : 28176 Lahore Stock Exchange Branch QUETTA Basement Level . Sarafa Bazar. Plot # 864/7. Commercial Area. Ground Floor. Airport Road. 332. 784242 Fax : 786023 Phone : (042) 7538116-18 Fax : 7538119 SUKKUR Tufail Road Branch 50/3. Liberty Branch Phone : (0864) 211796-98 Fax : 210185 10-C. Raiwind Road. Main Mmerkot Road. Truck Stand. M. Phone : (042) 6689016-19 Fax : 6688374 Phone : (071) 28173-75. Phone : (042) 7665526 Phone : (042) 5729772-6.Jinnah Road. Saddar. College Block. 24753. Phone : (081) 841057. Lahore Stock Exchange Building. M. 5877807 Azam Cloth Market Branch Defence Branch Raheem Centre.476/1 & 476/2. Wassanpura Circular Road Branch Phone : (042) 7616252-56 Fax : 6260295 A-43/A. 19. 6300586 LDA Plaza Branch Fax : 6300589 LDA Plaza. Gulberg Branch Lahore Cantt 125/E-I. Phone : (081) 460520 Fax : 460519 Ravi Road Branch 13 Ravi Raod. Phone : (042) 5756288 & 5756355 Fax : 5755226 MIRPURKHAS Raiwind Road Branch Thoker Niaz Beg. Phone : (0221) 786020-22. Blue Area Phone : (042) 5432961-5 Fax : 5432960 Phone : (051) 2206986-7 Fax : 2279897. B-2823/B-2851.2-12(1). Township. Main Boulevard. Gulberg-III. Tufail Road. 4-A. Ferozpur Road Branch Phone : (042) 5152833-6 Fax : 5113716 18-KM.2. 2. LCCHS. 5733591 Shad Bagh Branch 37. Opp: Mazar Hazrat Shah Mohammad Ghous. Phase-I. Adam Town. Phone : (042) 7704961-66 Fax : 7728074 ISLAMABAD Allama Iqbal Town Branch Blue Area Branch 36.Kashmir Road. Awan Arcade. Plot No. Near Bhatta Chowk.A. 6368905 DHA Extension Branch Divine Centre.

Satellite Town. Krishan Nagar. Road Branch 5-A. 34 BRANCH NETWORK F-7 Markaz Branch Hashtnagri G. 250796. Murree Road. Circular Road. Peoples Colony Branch Phone : (0451) 724138-9 Fax : 724193 237-B. 2623511-2 Fax : 2617432. Jamrud Road 24-Block # 15. G. 5567462 SIALKOT Satellite Town Branch 40/A. Peoples Colony No. Road Phone : (091) 2593003 Fax : 2593001 F-10 Markaz Branch 4-D. Opp: Rampair Mahal 25-Z-101.T. 1. Waqas Plaza. Markaz F-10 MULTAN Phone : (051) 2809703-11 Fax : 2809700 Islamabad Stock Exchange Branch Abdali Road Branch 101 W. Hayatabad. B/20. North Star Plaza. No. Circular Road. Karkhano Market.B.T. Phone : (051) 5775325-8 Fax : 5775324 Phone : (068) 5879880-1. 3255295 4-1/100. Madina Town Phone : (0433) 530219. Khyber Bazar. Branch Bank Road. 6/38/L-Islamia Road. Bdg. 2640834 Block # 5. G. 530068-70 Fax : 530319 Phone : (041) 8556673-5 Fax : 8556679 MARDAN PESHAWAR C-929 to 932 & C-662. B-29 & 30. The Mall. 3847031-33 Fax : 3856471. J. V/912. Hashtnagri. Phone : (0441) 67691-5 Fax : 67696 Main Branch Ground Floor. Phone : (091) 251794. Susan Road. Liaquat Bazar. Paris Road. T. Markaz F-7 1045-1046. Peshawar City. SARGODHA Phone : (041) 2617436-9. Phone : (091) 5822903-7 Fax : 5822908 Phone : (0641) 468105 Fax : 468104 BANK ALFALAH LIMITED . Liaqat Road. Phone : (051) 2804102-4 Fax : 2804106 Phone : (061) 4546792-6 Fax : 4570233. Phone : (051) 2653944-49 Fax : 2653940 Opp: Sarhad Chamber of Commerce. Phone : (0596) 539426-28 Fax : 511980 SAHIWAL FAISALABAD 183-Sarwar Shaheed Road. Urfi Center. City Centre Complex. 4540970 Vehari Road Branch RAWALPINDI 618/B. Phone : (051) 5566084-6 Fax : 5584213. Opp: Jamia Mosque Hamid Ali. Vehari Road. Peshawar Cantt. College Road GUJRANWALA Phone : (051) 5762008. 2590023-27 Ground Floor. Officers Colony. The Mall Branch Phone : (061) 6244492-95 Fax : 6244496 8. WAH CANTT Phone : (055) 3859931-3. 4591742 Phone : (051) 4424080-6 Fax : 4424087 RAHIM YAR KHAN Jinnah Road Branch A-351. 5885970 Fax : 5879882 College Road Branch E/20-26. Road. Abdali Road. State Life Building. Jinnah Road (Old City Saddar Road). Phone : (052) 4591741. The Mall. Shahi Road. Ex-Arif Hotel Building. Commercial Area. Blue Area 62-A. 5762010 Fax : 5762007 B XII-7S-145. 4591442 Fax : 4593210. D-Ground. Phone : (0931) 73631-3 Fax : 73733 Phone : (091) 287051-5 Fax : 287058. Liaqat Road. 9212254 Peshawar City Branch BAHAWALPUR Park Inn Hotel Building. Phone : (041) 722636-39 Fax : 722184 GUJRAT Susan Road Branch 15/231. Fax : 251380 Phone : (0621) 889922-5 Fax : 889874 Hayatabad Jamrud Road Branch DERA GHAZI KHAN Shop No. Plaza.

Phone : (047) 6000712 Fax : 6331322 Phone : (0462) 517837-9 Fax : 517841 DASKA BUREWALA Gujranwala Road. Opposite PTCL Office. 28-29 D. Main G. Katchery Chowk. 610172. 105-Farooq Road. Saidu Sharif Road. Alvi Hospital Chowk. 9-D. Tehsil Chowk. 191. 14. 95-C. Phone : (0992) 344723-6 Fax : 344728 Phone : (0925) 624641-43 Fax : 624644 JHANG CHICHAWATNI 1-Railway Road Rai House. Rizwan Plaza. Phone : (053) 518068 Fax : 518068 Phone : (065) 2665301-4 Fax : 2665383 ATTOCK SHEIKHUPURA Zila Council Plaza. Al-Aziz Market. Plot # 3666-B.67. Road. Kazam Kamal Road. Kohat Cantt. Plot No. Phalia Road. Kashmir Chowk. Main Mansehra Road. Phone : (0456) 509730-32 Fax : 509729 Phone : (0541) 610162. 35 BRANCH NETWORK MINGORA.T. Ghazi Morr. Kohat Road. Yousuf Shah Road. College Road. 726740-4 Fax : 726747 MANDI BAHAUDDIN JHELUM 17/207 Alvi Plaza. Phone : (0405) 487802-6 Fax : 487807 Phone : (0471) 624701-3 Fax : 624704 CHINIOT TOBA TEK SINGH 1-A. SWAT SADIQABAD Khasra No. Main Bazar. Opp. Makan Bagh. Chichawatni. UAN : 111-777-786 Fax : 2700248 Phone : (04931) 614972-79 Fax : 614976 KHARIAN DERA ISMAIL KHAN 1. District Sahiwal. 610182 Fax : 610050 LALA MUSA MIAN CHANNU G. Mohallah Jamia Masjid. Allama Iqbal Road. Phone : (0922) 522791-7 Fax : 522798 Phone : (0492) 765218-19 Fax : 770890 BANK ALFALAH LIMITED . North Circular Road. Phone : (068) 5802501-4 Fax : 5802704 Phone : (0936) 726745-6.T.95. G. Sharah-e-Quaid-e-Azam. Phone : (057) 2701568. Railway Road. DCO Bungalow. Hazrat Baba Bulley Shah. Rawalpindi Road. Road. 2701557-58 Main Lahore-Sargodha Road. Phone : (052) 6616834-35 Fax : 6619650 Phone : (067) 3771901-4 Fax : 3355042 KASUR KOHAT Shop # 8-12. Bunglow No. Jhang Saddar.T. Sahiwal Road. Phone : (0543) 555206-218 Fax : 555220 Phone : (0442) 550418-22 Fax : 550423 HANGU ABBOTTABAD Saif-ur-Rehman Market. Adjacent to Mazar. Road. Phone : (053) 7536241-43 Fax : 7536245 Phone : (0961) 720606-10 Fax : 720612 CHAKWAL OKARA City Trade Centre. Bannur Road. Supply Bazar.

Khadim Ali Road. Phone : (021) 4313580 Fax : 4313581 Multan 2. Phone : (042) 5746191-5 Fax : 5746190 Phone : (008802) 7168821-05 Fax : 9557413 BANK ALFALAH LIMITED . Qaboola Road. Commercial Area.A. Jail Road. Phone : (051) 2879580-4 Fax : 2879589 47/D. Lahore Phone : (061) 750941-5 Fax : 750885 66-Main Boulevard. BV-BS-26. Uni-Tower. 36 BRANCH NETWORK HAFIZABAD Johar Town. Lahore 93-Y. Lahore Phone : (091) 5701385-89 Fax : 5701392 Abid Plaza.Uni-Towers.A. Phone : (042) 5313401-05 Fax : 5313406 Phone : (0547) 540801 Fax : 540804 Jinnah Avenue. New Garden Town. Shahrah-e-Faisal. Jinnah Avenue. Phone : (042) 7211631-5 Fax : 7211640 Sialkot Ali Building. 5-Rajuk Avenue. Dhaka. Motijheel C. Bosan Road. Gulberg. REDCO Plaza.I. Blue Area.T. McLeod Road. Phone : (042) 5846374-8 Fax : 5846386 OVERSEAS BRANCH Y Block. McLeod Road. I. Road. 13. Phone : (041) 603021-5 Fax : 603028 ISLAMIC BANKING BRANCHES Medical College Road. Bangla Desh Defence Housing Authority. Johar Town.Faisalabad 1-Ramana. Karachi Phone : (0431) 557301-5 Fax : 557310 Faiyaz Centre. Kutchery Bazar. Kutchery Bazar Faisalabad Phone : (0457) 76020-22 Fax : 76024 P-36. PAKPATTAN Phone : (051) 5795184-88 Fax : 5795189 Main College Road. Phone : (0446) 35711-14 Fax : 35717 Cantt. Islamabad ARIFWALA 8-E.Chundrigar Road. M. Karachi Phone : (041) 8581602-04 Fax : 8581582 213 . Murree Road. Lahore 69-R-I. Railway Road. Main Branch. Opp: Punjab Medical College. Phone : (042) 5715241-5 Fax : 5715249 Peshawar Jamrud Road. Rawalpindi 125-D. Lahore Phone : (0432) 241302-5 Fax : 241306 Awami Complex Block # 1. Phase III. Zain Palace. New Garden Town. Phone : (021) 2472295-8 Fax : 2425970 Gujranwala Faisal Arcade G. Shahrah-e-Faisal.