NBP’s pre-tax profit up 15.3 percent

KARACHI: The National Bank of Pakistan earned pre-tax profit of Rs8.7 billion as against Rs7.6 billion for the corresponding quarter of 2018, registering an increase of 15.3 percent, a bank statement said.

After-tax profit for the period under review amounted to Rs4.2 billion, 14.5 percent lower than Rs4.9 billion earned during the corresponding period of 2018 due to imposition of super tax.

Earnings per share amounted to Rs1.97 as against Rs2.30 for the corresponding quarter ended March 31, 2018.

The mark-up / interest income amounted to Rs45.8 billion, 45.9 percent higher than Rs31.4 billion earned during the corresponding period last year, a statement said.

This growth is attributed to the increase in discount rate, as well as a volumetric growth in both investment and advances, YoY.

The bank’s non-mark-up / interest income increased 40.2 percent YoY and amounted to Rs8.3 billion.

The bank’s unconsolidated pre-provision profit amounted to Rs10.98 billion, 45.2 percent higher than Rs7.6 billion for the corresponding period of the last year.

Total assets of the bank as of March 31, 2019, stood at Rs2,401.8 billion, compared with Rs2,798.6 billion as of December 31, 2018, registering a decline of 14.2 percent, it said.