National Bank of Pakistan records unprecedented profit in 2019

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National Bank of Pakistan records unprecedented profit in 2019

KARACHI - National Bank of Pakistan (NBP) during last nine months till September earned Rs 79.4 billion, which is 20.3% higher than Rs 66 billion of the last year's same period; with net interest income of Rs 53.9 billion, non-mark-up / interest income of Rs 25.6 billion, up by 23.7% and 13.7% respectively.

With an increase of 26.2% year-on-year, the bank's profit before taxation amounted to Rs 29.2 billion as against Rs 23.1 billion for September 2018. After-tax profit for the nine-months period amounted to Rs 16.3 billion being marginally 1.0 % higher than Rs 16.2 billion earned during the corresponding period of 2018, said NBP statement here on Tuesday.

The drop in after-tax profit is mainly attributed to higher taxation charge of 44.0% as compared to 30.0% for the corresponding period last year. Net profit translates into earnings per share of Rs 7.68 as against Rs 7.60 for the corresponding nine-months period of prior year.

Total assets of the bank amounted to Rs 3,025.4 billion which is 8.1% higher than Rs 2,798.6 billion as on Dec. 31, 2018. These represent 13.8% of the banking industry total assets.

The bank's market share in deposits, advances and investment is around 14%, 12%, and15% respectively.

Representing 12.0% of the total industry loans, gross advances of the bank amounted to Rs 1,093.4 billion, marginally higher than Rs 1,059.5 billion as at December 31, 2018. However, compared to Rs 953.3 billion of Sept. 2018, gross advances stand increased by Rs 140.1 billion or 14.7%.