NBP maintains growth, post-tax profit up by 10.
KARACHI -- National Bank of Pakistan (NBP) maintains growth with ten percent increase in its post-tax profit. This was declared in a meeting of NBP's Board of Directors on Tuesday here, in which the board approved financial statements of the bank for the nine months period ending September 30, 2018, said a NBP statement.
The bank recorded a pre-tax profit of Rs. 23.12 billion, which is slightly lower than Rs. 23.22 earned during the corresponding period of 2017.
The after-tax profit for the period amounted to Rs 16.18 billion i.e. 10% higher than Rs. 14.70 billion earned for the corresponding period of 2017. It translates into earnings per share of Rs 7.60 as against Rs. 6.91 for the corresponding period last year.
Bank's net interest / mark-up income increased by 13.70% to Rs 43.55 billion against Rs 38.31 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 enhance customer loyalty. Income from dividend and capital gains however recorded a drop due to the lacklustre performance of the stock market.
Overall non mark-up / interest income for the period amounted toRs. 22.49 billion which is marginally lower by 2.15% as compared to Rs. 22.99 billion for the c orresponding period of last year.
With a 4.19% growth in reference to December 31, 2017, the balance sheet size of the bank had increased to Rs 2.47 trillion. As of September 30, 2018, the bank's deposits amounted to Rs 1,799.79 billion being 4.21% higher as compared to that of December 31, 2017.
The net advances also increased to Rs. 828.46 billion showing an increase of 12% as compared to December, 2017.