LAHORE: The Bank of Punjab (BoP), during the Board of Directors’ meeting, announced highest-ever quarterly earnings of Rs2 billion before-tax-profits during 1st quarter of the calendar year 2015 as compared to Rs0.7 billion it earned during the same period of 2014, showing 186% growth.
During the meeting, the Board of Directors approved the un-audited financial statements of the bank for the quarter ended March 31, 2015. The earnings per share (EPS) for the corresponding period showed remarkable surge and touched the level Rs. 0.84.
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During the 1st quarter, net interest margin (NIM) of the Bank improved significantly to Rs. 2.5 billion as against Rs. 1.0 billion during corresponding period of last year thereby registering a commendable growth of 150%. The Bank’s non-markup/interest income for 1st quarter of year 2015 also touched the level of Rs. 1.9 billion as against Rs. 0.8 billion during corresponding period of last year, showing a remarkable growth of 138%.
Bank’s total assets as on March 31, 2015 stood at Rs. 425 billion as against Rs. 420 billion as on December 31, 2014. The deposits of the bank stood at the level of Rs. 330 billion, while the advances and Investments remained at Rs. 178 billion and Rs. 180 billion, respectively.
