The earnings of National Bank of Pakistan (NBP) surged 84pc to Rs30.58 billion during the year ended December 31, 2020, according to financial results announced by the bank on Wednesday.
Against a 28.95pc growth in total income, the bank saw a 4.36pc decline in total expenses, which further helped boost its earnings. The bank’s earning per share (EPS) was recorded at Rs14.33.
The interest income increased by 7.64pc with decline in interest expense by 8.3pc. Thus, the net interest income of NBP grew by 44.66pc. However, the non-interest income didn’t show the same momentum as it fell by 1.06pc on account of lower fee income, dividend income, forex income as well as non-core income.
It is worth mentioning that NBP saw a 265pc growth in securities. However, some setbacks were faced in the form of a 128pc increase in provisioning costs, as well as a 28.12pc rise in income tax expense.