Bank Alfalah Bangladesh's profits soared more than three times in 2023 mainly thanks to higher net interest income and income from investment in treasury bonds and bills.

The multinational bank owned by the Abu Dhabi Group logged profits of Tk 43 crore in 2023, posting a 214 percent rise year-on-year.

The bank's net interest income rose 34 percent year-on-year to Tk 67 crore last year. Investment income of the bank rose 25 percent to Tk 45 crore, according to the financial reports of the bank that started its operation in Bangladesh in 2005.

The bank, which has seven branches in the country, disbursed Tk 1,616 crore in loans.

Around 79 percent of the loans went to the Dhaka division and the rest to the Chattogram division. Of the amount, 1.75 percent or Tk 28 crore are bad loans.