A meeting of the Board of Directors (BoD) of National Bank of Pakistan (NBP) was held Friday at the Bank's head office here in which the BoD approved the financial statements of the Bank for nine months period ended September 30, 2017. Operating income of the Bank for nine months amounted to Rs 61.3 billion (September 2016: Rs 60.2 billion), while net interest/mark-up income for the nine months period amounted to Rs 38.3 billion being 2.4 percent lower than Rs 39.3 billion of September 2016.
The non-interest/mark-up income recorded a 10.0 percent growth and amounted to Rs 23.0 billion (September 2016: Rs 20.9 billion). After-tax profit for the nine months was 9.6 percent up on year-on-year basis and amounted to Rs 14.7 billion (September 2016: Rs 13.4 billion), translating into earnings per share of Rs 6.91 against Rs. 6.31 for the similar period prior year.
During the period under review, the Bank also achieved a significant growth in its balance sheet size that has now increased to Rs 2.22 trillion being 12.6 percent up against December 2016 and 21.57 percent up against the corresponding nine months period of 2016. The Bank's deposits amounted to Rs 1,684.8 billion, ie, 1.7 percent up against that of December 2016 and 18.9 percent up against the corresponding nine months period.
Accordingly, growth has also been achieved in advances which amounted to Rs 797.4 billion being 2 percent up compared to that of December 2016 and 8.2 percent up compared to that of September 2016.
The Bank has filed a review petition against the recent judgment of the Supreme Court of Pakistan in the pension case. Pending the decision of the review petition, financial impact of the recent decision has not been included in the instant financial statements for the nine months period.
National Bank is continuously expanding its market outreach through adding to its product range, restructuring its business model, and adopting the modern-day delivery strategies. Provision of services through Alternate Delivery Channels and Customer Service Quality are now among top priorities of the Bank.-PR
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