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NBP Rs18b profit: leap by 143pc, deposits climb to Rs76b

NBP Rs18b profit: leap by 143pc, deposits climb to Rs76b

KARACHI: The National Bank of Pakistan (NBP) has recorded Rs12.1 billion profit-after-tax from January to September in 2014, showing a growth of 107 per cent.

The NBP pre-tax profit increased by 143pc to Rs18 billion during in the nine months this year against Rs7.4 billion of the corresponding period of 2013. The bank’s earnings per share (eps) soared up to Rs5.67 against last year’s Rs2.74.

In third quarter, the NBP recorded after-tax-profit of Rs3.9 billion as compared to Rs97 million profit in the same quarter of last year.

Non interest and mark-up income increased by Rs3.9 billion or 22 per cent compared to the corresponding period last year. The bank capitalised on record high stock exchange index and recorded capital gains of Rs6 billion which was higher by Rs2.7 billion or 83pc against corresponding period last year. Provision charge against advances has reduced by Rs8.8 billion or 73pc mainly on account of better recoveries. Deposits compared to September 2013, increased by Rs76 billion.