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NBP profit rises 28pc to Rs19.2bn

NBP profit rises 28pc to Rs19.2bn

KARACHI: National Bank of Pakistan’s (NBP) post-tax profit grew 28 per cent year-on-year to Rs19.2 billion for the year ended Dec 31, 2015.

The board on Friday proposed a final cash dividend of Rs7.5 per share (75pc) for the year, which was 36pc higher than last year.

“This translates into 92pc dividend pay-out of the bank’s distributable profit for the year 2015 (after statutory reserve allocation) and is the highest in the banking industry,” said a press release issued by the bank.

The pre-tax profit rose 51pc year-on-year to Rs33.2bn in 2015, a complete turnaround from Rs7.1bn earned in 2013, it added.

All key ratios have improved significantly, the bank said, adding that the after-tax return on equity and assets stood at 17pc and 1.2pc, respectively.

On a year-on-year basis, core net interest income rose 17.25pc to Rs53.7bn from Rs45.8bn, while non-interest income increased by 15.13pc from Rs30.4bn to Rs35bn in 2015. Administrative expenses increased by 5pc.

Courtesy : Dawn News



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