BOP announces 75 percent hefty growth in 2015

Lahore:  A meeting of the Board of Directors of The Bank of Punjab (BOP) was held. During the meeting, audited Financial Statements of the Bank for the year ended December 31, 2015 along with un-audited Financial Statements for 1st quarter of year 2016 ended March 31, 2016 were approved by the Board.

As a testimony to an epic triumph, BOP announced a hefty growth of 75% in its pre-tax profit for the year 2015 which reached the level of Rs. 7.5 billion. Defying all odds and denying all negative perceptions, BOP has emerged as a successful, resilient and self-reliant corporate entity. The Bank’s journey of last few years witnessed one of the most remarkable and worth emulating success story from a sinking ship to a stable voyager and then to a flag bearer of progress and prosperity.

During the year 2015, Net Interest Margin (NIM) of the Bank improved significantly to Rs. 11.1 billion as against Rs. 9.0 billion during last year thereby reflecting a healthy growth of 23%. Accordingly, before tax profit increased to Rs. 7.5 billion as against Rs. 4.3 billion for the year 2014 registering a commendable growth of 75%.

The Earning per share (EPS) for the year 2015 improved to the level of Rs. 3.05 as against Rs. 1.94 for year 2014 thereby registering a massive growth of 57%.**