NBP’s major highlights from 2QCY20 results

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NBP for the 2QCY20 posted an increase in NII of 58.55%YoY, now at PKR 31,869mn up from PKR 20,100mn during SPLY.

The total non-interest income climbed up by 1.09%YoY, and it was clocked in at PKR 10,045mn, contributing to pre-tax EPS of PKR 4.72/share during 2QCY20.

The majority of non-interest income earned for the quarter were contributed by Fees and Commission income, at PKR 4,217mn down by 27.43%YoY, it makes up 42% of total non interest income followed by gain on securities contributing to 20% of non-interest income, It increased by 7.65xYoY to PKR 1,974mn from PKR 258mn.

During the 1HCY20 income from gain on securities increased by 9.7xYoY. This gain can be attributed to capital gains on fixed income and equities Bank’s provisioning increased 3.5x in the 2QCY20, as the economy was battered down due to lockdowns and bank business were negatively impacted, leading bank to record provisions at PKR 11,851mn up from PKR 3,235mn during SPLY.

The profit after tax also recorded a healthy growth at by 60.05%YoY in 2QCY20, at PKR 11,071mn up from PKR 6,918mn in SPLY. EPS for the 2QCY20 was locked in at 5.20/share compared to earning of 3.25/share in 2QCY19.

National Bank of Pakistan was incorporated in Pakistan under the National Bank of Pakistan Ordinance, 1949. The Bank is engaged in providing commercial banking and related services in Pakistan and Overseas. The Bank also handles treasury transactions for the Government of Pakistan (GoP) as an agent to the State Bank of Pakistan.

(Spectrum Research)

 

 
 

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