KARACHI: A meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) was held on Friday at the its Head Office in Karachi in which the BoD approved the financial statements of the Bank for nine months period ended September 30, 2017.
A statement of the NBP said that the operating income of the Bank for nine months period amounted to Rs. 61.3 billion (Sep 16 : Rs. 60.2 billion), while net interest / mark-up income for the nine months period amounted to Rs. 38.3 billion being 2.4% lower than Rs. 39.3 billion of Sep 16, the non-interest / mark-up income recorded a 10.0% growth and amounted to Rs. 23.0 billion (Sep 16 : Rs. 20.9 billion). It said that after-tax profit for the nine months was 9.6% up Year on Year (YoY) and amounted to Rs. 14.7 billion (Sep 16: Rs. 13.4 billion), translating into earnings per share of Rs 6.91 as against Rs. 6.31 for the similar period prior year.
During the period under review, the Bank also achieved a significant growth in its Balance Sheet size that has now increased to Rs. 2.22 trillion being 12.6% up against December 2016 and 21.57% up against the corresponding nine months period of 2016.
Bank’s deposits amounted to Rs. 1,684.8 billion, i.e. 1.7% up against that of December 2016 and 18.9% up against the corresponding nine months period. Accordingly, growth is also achieved in advances which amounted to Rs. 797.4 billion being 2% up compared to that of December 2016 and 8.2 % up compared to that of Sep 16. The Bank has filed a review petition against the recent judgement of the Supreme Court of Pakistan in the pension case. Pending the decision of review petition, financial impact of the recent decision has not been included in the instant financial statements for the nine months period.
NBP is continuously expanding its market outreach through adding to its product range, restructuring its business model, and adopting the modern-day delivery strategies. Provision of services through Alternate Delivery Channels and Customer Service Quality are now among top priorities of the Bank.
