NIB Bank posts Rs628.219mn after tax loss

RECORDER REPORT

KARACHI: NIB Bank has posted Rs 628.219 million as after tax loss in the nine month period ended September 30, as compared to after tax profit of Rs 195.704 million earned in the corresponding period in 2011.

The board of directors of the bank in its meeting held on Wednesday declared that the bank has posted Re 0.06 as per share loss in the period under review against earning per share of Re 0.04 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the bank’s mark-up/return/interest earning reduced to Rs 10.365 billion in this period against Rs 10.418 billion in the same period last year. The bank’s mark-up/return/interest expenses decreased to Rs 8.318 billion against Rs 8.911 billion. 

The bank’s total non-mark-up/interest income increased to Rs 1.773 billion against Rs 1.627 billion in the same period last year while total non-mark-up/interest expenses increased to Rs 3.885 billion against Rs 3.665 billion.

The bank posted Rs 552.524 million as loss before taxation in this period against after tax loss of Rs 1412.96 million posted in the same period last year.

On quarterly basis, the bank posted Rs 433.74 million as after tax loss translating into per share loss of Re 0.04 in the quarter ended September 30, as compared to after tax profit of Rs 1,564.52 million earned in the same quarter last year.