AIRLINK 74.25 Decreased By ▼ -0.35 (-0.47%)
BOP 5.05 Decreased By ▼ -0.09 (-1.75%)
CNERGY 4.42 Decreased By ▼ -0.08 (-1.78%)
DFML 35.84 Increased By ▲ 2.84 (8.61%)
DGKC 88.00 Decreased By ▼ -0.90 (-1.01%)
FCCL 22.20 Decreased By ▼ -0.35 (-1.55%)
FFBL 32.72 Increased By ▲ 0.02 (0.06%)
FFL 9.79 Decreased By ▼ -0.05 (-0.51%)
GGL 10.80 Decreased By ▼ -0.08 (-0.74%)
HBL 115.90 Increased By ▲ 0.59 (0.51%)
HUBC 135.84 Decreased By ▼ -0.79 (-0.58%)
HUMNL 9.84 Decreased By ▼ -0.13 (-1.3%)
KEL 4.61 Decreased By ▼ -0.02 (-0.43%)
KOSM 4.66 Decreased By ▼ -0.04 (-0.85%)
MLCF 39.88 Increased By ▲ 0.18 (0.45%)
OGDC 137.90 Decreased By ▼ -1.06 (-0.76%)
PAEL 26.43 Decreased By ▼ -0.46 (-1.71%)
PIAA 26.28 Increased By ▲ 1.13 (4.49%)
PIBTL 6.76 Decreased By ▼ -0.08 (-1.17%)
PPL 122.90 Increased By ▲ 0.16 (0.13%)
PRL 26.69 Decreased By ▼ -0.32 (-1.18%)
PTC 14.00 No Change ▼ 0.00 (0%)
SEARL 58.70 Decreased By ▼ -0.77 (-1.29%)
SNGP 70.40 Decreased By ▼ -0.75 (-1.05%)
SSGC 10.36 Decreased By ▼ -0.08 (-0.77%)
TELE 8.56 Decreased By ▼ -0.09 (-1.04%)
TPLP 11.38 Decreased By ▼ -0.13 (-1.13%)
TRG 64.23 Decreased By ▼ -0.90 (-1.38%)
UNITY 26.05 Increased By ▲ 0.25 (0.97%)
WTL 1.38 Decreased By ▼ -0.03 (-2.13%)
BR100 7,838 Increased By 19.2 (0.24%)
BR30 25,460 Decreased By -117.2 (-0.46%)
KSE100 74,931 Increased By 266.7 (0.36%)
KSE30 24,146 Increased By 74.2 (0.31%)

National Bank of Pakistan (NBP), one of the country’s largest commercial banks, registered a profit-after-tax (PAT) of Rs9.82 billion during quarter ended March 31, 2024, a decline of 13% year-on-year.

The bank registered a PAT of Rs11.29 billion in the same period of the preceding year.

As per a notice sent to the Pakistan Stock Exchange (PSX) on Monday, NBP’s earnings per share stood at Rs4.56 in 1QCY24, a decrease from Rs5.29 in 1QCY23.

The decline in profit comes despite a massive increase in interest income.

During the period, NBP’s mark-up/return earned rose from Rs192.5 billion in 1QCY23 to Rs275.08 billion in 1QCY24, an increase of nearly 43%.

NBP’s profit surges by 72%, clocks in at Rs53.3bn in 2023

However, the bank also saw an interest expense of Rs245.95 billion in 1QCY24, up 54% as compared to Rs159.87 billion in SPLY.

As a result, the bank’s net mark-up/return earned declined to Rs29.13 billion in 1QCY24, compared to Rs32.62 billion in 1QCY23, a fall of 11%.

During the period, the fee and commission income earned by NBP in 1QCY24 clocked in at Rs6.28 billion, an increase of 27% against Rs4.96 billion earned in the same period last year.

NBP’s foreign exchange income rose by nearly 31%, up from Rs1.35 billion in 1QCY23 to Rs1.77 billion in 1QCY24.

Meanwhile, the bank recorded a massive gain of 1,098% on securities to the tune of Rs4.24 billion in 1QCY24, in comparison to a gain of only Rs369 million in SPLY.

During the period, NBP’s share of profit from joint venture and from association increased to Rs37.5 million, as compared to a loss Rs9.38 million SPLY.

During the period, the bank saw its non interest income increase 69%.

NBP’s operating expenses clocked in at Rs22.47 billion in 1QCY24, up over 4% against Rs21.54 billion in SPLY. The bank’s profit before tax clocked in at Rs20.43 billion in 1QCY24, an increase of 8%.

During the period, NBP paid taxes to the tune of Rs10.6 billion, as compared to Rs7.6 billion in 1QCY23, an increase of 39%.

Comments

200 characters
T Apr 30, 2024 01:10am
They have not given back our 1 Rs dividend till now we are waiting for two year. Nations bank is corrupt like nation
thumb_up Recommended (0) reply Reply