950813

AHSAN*NINTH

FABM earns

Rs 35.439m

in 6 months

LAHORE: First Allied Bank Modaraba (FABM) has earned a profit of Rs.35.439 million during the first half year ended June 30, 1995. The annualized profit comes to about 20 percent of its capital, says a press release.

The half-yearly accounts of First Allied Bank Modaraba were approved in the Board of Directors Meeting of Allied Management Services (Pvt) Limited (AMSL), held in Lahore on Sunday, chaired by Shaukat A. Kazmi, President Allied Bank of Pakistan Limited and Chairman, AMSL. Kazmi appreciated the performance of FABM during the half year and desired that efforts be made to further improve the results.

FABM would soon be launching Certificate of Musharika (COM) which would give handsome return to its subscribers. The proceeds of COM would supplement the resources of FABM thereby giving further boost to its earning capacity and would also result in declaration of better profit to its Certificate Holders.

During the half year ended June 30, 1995, FABM has significantly diversified its portfolio and has tapped non-traditional avenues e.g. trading, leasing etc., to optimize the profits. Due to diversification in Portfolio, it is expected that the results for the second half year would be far better than the above results.