Pakistan banking sector profit register massive increase in FY 2019

Shares
Pakistan banking sector profit register massive increase in FY 2019

ISLAMABAD - Banking sector profitability rose to Rs45.5 billion in the third quarter of 2019, up 48pc when compared with the same period last year (20pc QoQ).

The increase in profitability is primarily on the back of a 33pc YoY increase in net interest income and 17pc YoY growth in non-interest income. The biggest increase was posted by BankIslami (+176pc), followed by HBL (+175pc) and Meezan bank (+86pc).

The listed sector’s cumulative profits for the first nine months of 2019 grew by 20pc YoY to Rs127.7 billion.

In absolute terms, the highest quarterly profit was earned by MCB Bank (Rs5.7 billion), followed by National Bank (Rs5.2 billion) and UBL bank (Rs5.0 billion).