NBP after-tax profit increases by 46 percent

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KARACHI, Aug 30 (APP):The National Bank of Pakistan (NBP) has earned the after-tax profit of Rs 12.49 billion in six
months ending June 30, 2018; which is 46 percent higher than Rs 8.55 billion for the corresponding period of 2017.
This shows Rs 5.87 earning per share against Rs. 4.02 for the corresponding period of last year, said a NBP statement on Thursday.
The National Bank had recorded pre-tax profit of Rs 17.16 billion over this period recording 26 percent increase in comparison to Rs 13.61 billion of the corresponding six months of 2017.
This was declared in a meeting of NBP’s Board of Directors held on August 30. The meeting approved the financial statements of the bank for the half year ending June 30, 2018.
Bank’s net interest / mark-up income increased by 15.7 percent at Rs 31.14 billion against
Rs 26.05 billion for the corresponding period of 2017. This was achieved through maintaining an
efficient asset-mix of high-yield loans and investments.
The bank has recently introduced changes in its operating structure for better service quality to
its customers. Income from dividend and capital gains, however, recorded a drop due to the lacklustre performance of stock market. Overall non-mark-up / interest income for the period amounted to
Rs 15.25 billion which is marginally lower by 2.7 percent as compared to Rs 15.68 billion for the corresponding period of last year.
With a 12.1 percent growth by reference to December 31, 2017, the balance sheet size of the
bank has increased to Rs. 2.66 trillion. As of June 2018, Bank’s deposits amounted to
Rs 1910.67 billion being 10.6 percent higher as compared to that of December 31, 2017. The net advances also increased to Rs 790.4 billion showing an increase of 6.8 percent as compared to December 2017.