The Bank of Punjab Ltd has announced a net profit of Rs 1.56 billion for the first quarter which ended March 31 2017.
It booked a profit of 1.45 billion in the same quarter last year. Earnings per share increased to Rs. 1.00 from Rs. 0.94 this year. Resultantly, script gained Rs. 0.18 at the intraday on Monday and is currently trading at Rs. 13.83. The overall Mark Up earned by the Bank is 7.64 billion.
No right shares, Bonus shares and Cash Dividend details have been announced by the bank.
Bank of Punjab has improved its net interest income by 1,100% in the last 5 years. The bank’s profits have risen from Rs. 347 million, in 2011, to around Rs. 4,700 million in 2016. That is a 1,200% increase in 4 years. During the last 3 quarters, the bank has earned Rs. 3,930 million already. The equity of BOP is 4% of the assets. On a comparative basis, the equity as a percentage is lower.
Bank of Punjab has shown exceptional results in terms of growth in profitability and strengthening its balance sheet, while continuing expansion in new banking ventures as well as improving its outreach to new areas. This bodes a very prosperous future ahead for the bank.
The financial results for year 2014-16 portray significant improvement in operational bottom line through prudent lending and substantial rise in low cost deposits.