Meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) was held on August 30, 2018 at Bank’s Head Office in Karachi in which the BoD approved the financial statements of the Bank for half year ended June 30, 2018.
The Bank recorded a pre-tax profit of Rs.
17.16 billion being 26% higher than the Rs. 13.61 billion earned during the corresponding six months period of 2017. The after-tax profit for the period amounted to Rs. 12.49 billion i.e. 46% higher than the Rs. 8.55 billion for the corresponding period of 2017. This translates into earnings per share of Rs 5.87 as against Rs. 4.02 for the corresponding period last year.
Bank’s net interest / mark-up income increased by 15.7% to 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 in order to enhance customer loyalty. 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% as compared to Rs. 15.68 billion for the corresponding period of last year.
With a 12.1% 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% 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% as compared to December, 2017.