NBP’s Assets Surge to Rs. 6 Trillion

National Bank of Pakistan’s assets surged to over Rs. 6 trillion making it the second bank in the banking industry of the country to achieve this mark after Habib Bank Limited.

The bank’s total assets reached Rs. 6.6 trillion from Rs. 5.2 trillion at the end of 2022. This establishes NBP as the largest bank in Pakistan in terms of total assets.

The public sector bank also recorded a profit of Rs. 38.2 billion, reflecting a substantial increase of 99.1 percent over the Rs. 19.2 billion recorded in the same period of the previous year.

The strong financial performance of the bank is a consequence of its continued efforts in serving the national agenda of extending financing to priority sectors as well as extending access to financial services to those segments of the country’s populace that lack facilities. The Bank’s results are a balance of a focus on prudent financial management and the Bank’s tradition of serving the nation which has led to NBP being a Bank that is trusted by its stakeholders, according to the statement issued.

The bank demonstrated exceptional performance by reporting a profit before tax of Rs. 70.6 billion, depicting an impressive 46 percent increase YoY as compared to Rs. 48.3 billion for 9MCY22. These results were driven by robust performance in revenue streams as well as effective cost management.

Consequently, Earnings Per Share closed at Rs. 17.9, up from Rs. 9.0 in 9MCY22. This outstanding performance was a result of an efficient portfolio mix, mature risk profiling, effective risk management, and maintaining a stable funding pool that contributed to an improved and sustainable operating performance.

In an environment of rising interest rates, gross interest income recorded a YoY increase of 119.4 percent to close at Rs. 728.7 billion, a significant rise from Rs. 332.2 billion for the same period in 2022. Similarly, the Bank’s cost of funds also increased by 141.7 percent YoY, closing at Rs. 608.1 billion. Consequently, net interest income closed at Rs. 120.6 billion, representing a YoY increase of 49.6 percent.

Despite the challenging business environment and lackluster stock market performance for most of the review period, the Bank generated a total non-fund income of Rs. 24.7 billion, slightly below the Rs. 25.3 billion of the corresponding 9-month period of the previous year.

Amid the high inflationary pressures and Rupee depreciation, the bank’s operating expenses for the nine-month period under review amounted to Rs. 65.2 billion, a 19.2 percent YoY increase compared to Rs. 54.7 billion for the same period last year.

The bank is presently making significant investments in a major upgrade of its IT systems and infrastructure.

The bank operates one of the largest branch networks with over 1,500 branches in Pakistan and is aggressively pursuing a significant organizational transformation program through IT upgrades, digital product enhancements, and initiatives to promote financial inclusion, with a particular focus on commercial and rural segments.

With its business growth initiatives, NBP has continued to make progress in remediating legacy issues in the areas of international franchise, risk management, asset quality, operational effectiveness, and HR.

The management’s strategic focus remains on enhancing its service quality levels, diversifying its outreach through digitalization, and expanding its range of products and services. As the Nation’s bank, enhancing access to financial services for all remains a key goal of the Bank, a commitment since its establishment in 1949.



Get Alerts

Follow ProPakistani to get latest news and updates.


ProPakistani Community

Join the groups below to get latest news and updates.



>