KARACHI: The National Bank of Pakistan (NBP) profit for 2014 increased to Rs16.1 billion, showing threefold hike in its earnings of Rs5.3 billion of the preceding year.
The earnings per share increased to Rs7.5 from Rs2.4 in 2013. NBP also announced a final cash dividend of Rs5.5 per share. An anylist said the year showed a decline of 52% in provision charges on a year-on-year basis, as the bank provided for bad advances rolled out in Bangladesh. Provisions against non-performing loans (NPLs) declined Rs10.2 billion, or 52.4%, to Rs9.3 billion on an annual basis. For the year, net interest income (NII) increased 15% on a year-on-year basis to Rs45.1 billion. Interest income increased 15% on a year-on-year basis, which was roughly equal to the rise in interest expense during the year. In contrast, NBP’s non-interest income went up 21% to Rs31.3 billion in 2014.
