The meeting of the Board of Directors (BoD) of National Bank of Pakistan was held on Friday at the Bank's head office in Karachi in which the BoDs approved the financial statements of the Bank for three months period ended March 31, 2018.
Operating income of the Bank remained flat YoY with 1.7 per cent increase amounted to Rs 20.02 billion compared to Rs 19.69 billion for similar period last year. Net interest/mark-up income amounted to Rs 14.12 billion with 14.9 per cent growth as compared to Rs 12.29 billion of the corresponding period last year. On the other side, non-interest/mark-up income declined by 20.3 per cent on YoY basis from Rs 7.40 billion to Rs 5.89 billion mainly due to decline in Capital Gains &Exchange Income.
Profit-After-Tax during Q1 2018 was Rs 4.89 billion, ie 16.5 per cent higher against Rs 4.20 billion during corresponding period of last year. This translates into earnings per share of Rs 2.30 (March '17: Rs 1.98) representing an increase of 16.2 per cent. Bank's pre-tax profit during Q1 2018 was Rs 7.57 billion, ie, 13.8 per cent higher against Rs 6.65 billion during corresponding period last year. Pre-tax and after-tax return on average equity were 23.62 per cent and 15.27 per cent (Mar'17: 23.29 per cent and 14.72pc) respectively.
Maintaining its leadership position in the banking industry, NBP has continued emphasizing on customer satisfaction by improving service quality, market outreach through reducing turnaround time, adding more to its product suite, restructuring its business model, and adopting the modern-day banking practices.
Provision of services through Alternate Delivery Channels and Customer Service Quality are now among top priorities of the Bank. With "AAA" credit rating, the Bank is a driving force in financial industry with its large domestic distribution network and international branches, and a wide range of products & services.-PR
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