The National Bank of Pakistan (NBP) has announced earned profit after tax deduction of Rs 12.49 billion in six months ending June 30, 2018; which is 46 percent higher than Rs: 8.55 billion for the corresponding period of 2017. NBP Profit 2018 was declared in a meeting of NBP’s Board of Directors held on 30th August chaired by President Tariq Jamali. The meeting approved the financial statements of the bank for the half year ending June 30, 2018.
This shows Rs 5.87 earnings per share against Rs. 4.02 for the corresponding period of last year, said an NBP statement on Thursday. The National Bank had recorded pre-tax profit of Rs 17.16 billion over this period recording 26 percent increase in comparison to Rs 13.61 billion of the corresponding six months of 2017.
Bank’s net interest/markup income increased by 15.7 percent at 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 newly announced changes in its operating structure for better service quality to its customers. Income from dividend and capital gains, however, recorded a drop due to the uninspiring performance of the Stock Market. Overall non-mark-up / interest income for the period amounted to Rs 15.25 billion which is slightly lower by 2.7 percent as compared to Rs 15.68 billion for the corresponding period of last year.
With a 12.1 percent development by reference to December 31, 2017, the balance sheet size of the bank has increased to Rs. 2.66 trillion. As of June 2018, Bank’s deposits amounted to Rs 1910.67 billion being 10.6 percent 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 percent as compared to December 2017.