National Bank of Pakistan, for year 2016, reported highest ever performance numbers in its history. Outstanding growth during the year was achieved both in financial performance and financial position of the Bank, said a statement issued by the bank.
After-tax profit for the year 2016 amounted Rs. 22.8 billion i.e. 18% up against Rs. 19.2 billion of 2015. This translates into earnings per share of Rs. 10.69 compared to Rs. 9.03 of 2015.
The Board recommended cash dividend of Rs. 7.5 per share for the year which translates into payout ratio of 78 % (after statutory reserve allocation).
Despite a generally difficult year with downward trend for the banking industry on account of reduction in discount rate and lower exchange arbitrage opportunities, the Bank recorded a growth of Rs. 3.9 billion i.e. 12% in pre-tax profit which amounted to Rs. 37.1 billion in 2016. Pre-tax and after-tax return on equity were 31.5% and 19.3% (2015: 29.3% and 17%) respectively.
The bank made significant progress in improving its loan book quality as non-performing loans recorded a net reduction of Rs. 7.9 billion during the year.
During the reported year, healthy balance sheet growth has also been recorded reaching to Rs. 1,975 billion, depicting a 16 % YoY growth against Rs. 1,706 billion at the end of year 2015. During the year, gross advances of the bank increased by 13% to Rs. 782 billion compared to Rs. 692 billion as of December 2015. Similarly, the bank achieved a 16% growth in its deposits as the same reached Rs. 1,657 billion.
With “AAA” credit rating, the Bank operates with 118 Islamic branches and over 1,300 ATMs.
NBP Still in Profit :
Wo Bhi Third Class Services Dene K Bad :
Jin K Staff Ko Ap Main Or Tum Main Farq Nahi Pata :
Jinko Ye Nahi Pata Buzourgo Ka Ahtaram Kiya Hota Hai
& Again still profit :
On one hand it shows the potential in its growth, on the other hand being the only Government bank it has Monopoly over various sectors, government business is one such example!
I am not a PMLn supporter but its clear that some PTI/PPP/MQM choosni here. You have so much prejudice that any good news for country is difficult to digest for them.
o bhai saab koi bhi idara raatun raat theek nai hota . . . or ab please ye ghisi pitti daleel mat dena ki this PMLn came in power 3 times at federal level.
Without consistency even if you are in power 10 times, your policies will fail.
ab koi thanda juice peo or rona band karo coz as it seems this Gov will not only complete 5 years but its gonna win 2018 elections too.
Next Election 2018 Winner goes to : Mian Sahab :
Account of all army personals are forcedly opened in the said bank. You are very right, their attitude is very pathetic and third class. but with these 500 thousand new accounts they will surely in profit
Agreed