Bank Alfalah (BAFL) has scheduled its Board of Directors meeting for 13th February 2020 to approve CY19 financial results. The Bank is forecast to post earnings of Rs7.9/share as against Rs6.1/share for the corresponding period last year. Together with the result, the BAFL is also expected to announce a dividend of Rs.002/share as against a payout of Rs4.00 for CY19. Four quarter 2019 profit after tax is likely to rise to Rs4.3 billion, to be driven by NII growth of 10.0%QoQ and potential impairment reversal. NIMs are likely to improve to 5.9% for 4QCY19 as compared to 5.6% in the earlier quarter as re-pricing kicks in. NFI is expected to post 64.5% growth on a sequential basis with pull up coming from seasonal factor pushing up fee income growth, up 52.0%QoQ and capital gains. The 20%QoQ increase in total income should be able to absorb expected surge in administrative costs on the back of branch expansion and digitization costs.