The meeting of the Board of Directors (BoD) of National Bank of Pakistan (NBP) was held on October 23, 2018 at the Bank''s Head Office here, in which the BoD approved the financial statements of the Bank for the nine months period ended September 30, 2018. The Bank recorded a pre-tax profit of Rs 23.12 billion which is slightly lower than Rs 23.22 earned during the corresponding nine-month period of 2017. The after-tax profit for the period amounted to Rs 16.18 billion, ie, 10 percent higher than Rs 14.70 billion earned for the corresponding period of 2017. This translates into earnings per share of Rs 7.60 as against Rs 6.91 for the corresponding period last year.
The bank''s net interest/mark-up income increased by 13.70 percent 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 in order to enhance customer loyalty. Income from dividend and capital gains however recorded a drop due to the lackluster performance of the stock market. Overall non mark-up/interest income for the period amounted to Rs 22.49 billion which is marginally lower by 2.15 percent as compared to Rs 22.99 billion for the corresponding period of last year.
With a 4.19 percent growth by reference to December 31, 2017, the balance sheet size of the Bank has increased to Rs 2.47 trillion. As of September 30, 2018, Bank''s deposits amounted to Rs. 1,799.79 billion being 4.21 percent higher as compared to that of December 31, 2017. The net advances also increased to Rs 828.46 billion showing an increase of 12 percent as compared to December, 2017.-PR
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