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Karachi, In accordance with the Pakistan Stock Exchange (PSX) regulations, Bank Alfalah Limited has disclosed the profit payments for its Term Finance Certificates (TFC) 6 and 8 for the period ending December 31, 2023. The detailed statement released by the bank underlines the financial outcomes of these specific issues.
For TFC 6, which was issued on September 26, 2023, Bank Alfalah reported an 11th coupon payment for the six months ended on September 26, 2023, amounting to PKR 758,947,360. Similarly, TFC 8, with an issue date of June 21, 2023, saw its 2nd coupon payment for the six months concluding on December 21, 2023, reaching PKR 771,377,089.
The announcement further breaks down the distribution of these profits among various institutional holders of the TFCs, noting the tax-exempt status for several major financial institutions including MCB Bank Limited, Habib Bank Limited, Bank AL Habib Limited, and National Bank of Pakistan among others. These entities are listed with their respective number of TFCs held, the total value of holdings, and the bank account details for the transfer of these profits.
Notably, several institutions such as Pakistan Kuwait Investment Co. (Pvt) Ltd., Roomi Enterprises (Pvt) Limited, Masood Fabrics Ltd., and several others are subject to a 15% tax on their earnings from these TFCs. The detailed list also mentions exemptions for entities such as Trustees of UBL Staff Pension Fund Trust and Trustees of PIAC Employees Provident Fund Trust among others.
The comprehensive announcement underscores the significant participation of a wide range of financial and non-financial institutions in Bank Alfalah’s TFC issues, reflecting a robust interest and investment in the bank’s financial instruments.