Meeting of the Board of Directors (BoD) of National Bank of Pakistan (bank) was held on April 21, 2017 at Bank’s Head Office in Karachi in which the BoD approved the financial statements of the bank for three months period ended March 31, 2017.
The bank recorded a pre-tax profit of Rs. 6.7 billion i.e. 7.8% up against Rs. 6.2 billion for the corresponding three months period of 2016. After-tax profit for the period was Rs. 4.2 billion i.e. 4.1% higher than Rs. 4.0 billion for the corresponding three months period of 2016. This translates into earnings per share of Rs.1.98 as against Rs.1.90 for the corresponding quarter of 2016.
Bank’s net interest / mark-up income increased by 2.2% to Rs. 12.3 billion against Rs. 12.0 billion for Q1 of 2016. This was achieved through maintaining an efficient asset-mix of high-yield loans and investments. Similarly, growth was also achieved in non-mark-up / interest income for the period which increased by 13.1% YoY to Rs. 7.4 billion.
While the balance sheet footing dropped by 2% compared to year end 2016, the bank recorded a healthy YoY growth in both deposits and advances. As of March 2017 bank’s deposits amounted to Rs. 1,588 billion being 25% up against that of March 2016; whereas the net advances also increased to Rs. 648 billion i.e. 17% up YoY.