NBP Records Double-Digit Growth in Profits in Q3 2018

National Bank of Pakistan (NBP) maintained its profitability and the after-tax profit showed a growth of 10 percent for the period of nine months of 2018 as compared to the similar period last year.

According to its financial statement, the bank recorded a profit of Rs. 16.18 billion i.e. 10% 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 recorded a pre-tax profit of Rs. 23.12 billion which is slightly lower than Rs. 23.22 billion earned during the corresponding nine months of 2017.


ALSO READ

Federal Cabinet Sacks President NBP Due to Money Laundering Allegations


Its net interest/markup income increased by 13.70% to Rs. 43.55 billion against Rs. 38.31 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. 22.49 billion, which is marginally lower as compared to Rs. 22.99 billion for the corresponding period of last year.

With a 4.19% 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, NBP’s deposits amounted to Rs. 1,799.79 billion, 4.21% higher as compared to that of December 31, 2017. The net advances also increased to Rs. 828.46 billion showing an increase of 12% as compared to December 2017.