BOP half-year net profit down

LAHORE: The Bank of Punjab (BOP) has announced its financial results for first half of 2022, reporting Rs5.42 billion as its profit after tax, as compared Rs5.60 billion in the same period last year.

The bank posted before tax profit of Rs8.36 billion as against Rs7.37 billion earned during first half of 2021, showing a growth of 13 percent.

Its net interest margin improved to Rs15.86 billion as against Rs13.88 billion, registering a growth of 14 percent in the concerned period.

Non-markup/ interest income (excluding gains on securities) of the bank increased to Rs4.46 billion as against Rs2.77 billion during the 6 months, showing an increase of 61 percent. Earnings per Share (EPS) remained at Rs1.82 per share as against Rs1.88 per share. The bank’s total assets as of June 30, 2022 improved to Rs1,254.4 billion, up from Rs1,197.0 billion as of December 31, 2021.