NBP Records a 46% Growth in Profits in First Half of 2018

National Bank of Pakistan (NBP) recorded a profit growth of 46% in the first half of 2018 which grew to Rs. 12.49 billion compared to Rs. 8.55 billion for the corresponding period of 2017. This translates into earnings per share of Rs 5.87 as against Rs. 4.02 for the corresponding period last year.

The bank recorded a pre-tax profit of Rs. 17.16 billion, 26% higher than the Rs. 13.61 billion earned during the corresponding six month period of 2017.

The bank’s net interest/mark-up income increased by 15.7% to Rs. 31.14 billion against Rs. 26.05 billion for the corresponding period of 2017. This was achieved by 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-markup/interest income for the period amounted to Rs. 15.25 billion which is marginally lower (2.7%) as compared to Rs. 15.68 billion for the corresponding period last year.

With a 12.1% growth by reference to December 31, 2017, the balance sheet of the Bank has increased to Rs. 2.66 trillion. As of June 2018, bank’s deposits amounted to Rs. 1910.67 billion, 10.6% higher as compared to that of December 31, 2017. The net advances also increased to Rs. 790.4 billion showing an increase of 6.8% as compared to December 2017.