NBP posts Rs16.3bn profit after tax

The National Bank of Pakistan Board of Directors on Tuesday approved the bank’s financial statements for the nine-month period ended June 30, 2019.

During the period under review, the total income of the bank amounted to Rs79.4 billion which is 20.3pc higher than Rs66.0 billion recorded during the same period last year. Net interest income closed at Rs53.9 billion while non-mark-up/interest income closed at Rs25.6 billion, up by 23.7pc and 13.7pc respectively. With an increase of 26.2pc YoY, the bank’s profit before taxation amounted to Rs29.2 billion as against Rs23.1 billion for September 2018.

After-tax profit for the nine-months period amounted to Rs16.3 billion, higher by 1pc compared with Rs16.2 billion earned during the corresponding period of 2018. The drop in after-tax profit is mainly attributed to higher taxation charge of 44pc as compared to 30.0pc for the corresponding period last year.

Net profit translates into earnings per share of Rs7.68 as against Rs7.60 for the corresponding nine-month period of the prior year.

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Total assets of the bank amounted to Rs3,025.4 billion, which is 8.1pc higher than Rs2,798.6 billion as of December 31, 2018. These represent 13.8pc of the banking industry’s total assets. The bank’s market share in deposits, advances and investment stood at 14pc, 12pc, and 15pc respectively.

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