Karachi, October 30, 2019: Meeting of the Board of Directors (BoD) of National Bank of Pakistan was held today i.e. October 29, 2019 at the bank’s Head Office in Karachi in which the BoD approved
For the nine-months period, total income of the bank amounted to PKR 79.4 billion which is 20.3 percent higher than PKR 66.0 billion YoY. While net interest income closed at PKR 53.9 billion, non-mark-up / interest income closed at PKR 25.6 billion, up by 23.7 percent and 13.7 percent respectively.
With an increase of 26.2 percent YoY, the bank’s profit before taxation amounted to PKR 29.2 billion as against PKR 23.1 billion for September 2018. After-tax profit for the nine- period amounted to PKR 16.3 billion being marginally 1.0 percent higher than PKR 16.2 billion earned during the corresponding period of 2018.
The drop in
Total assets of the bank amounted to PKR 3,025.4 billion which is 8.1 percent higher than PKR 2,798.6 billion as at December 31, 2018. These represent ~13.8 percent of the banking industry total assets. The bank’s market share in deposits, advances and investment
Representing ~12.0 percent of the total industry loans, gross advances of the bank amounted to PKR 1,093.4 billion, marginally higher than PKR 1,059.5 billion as at December 31, 2018.
However, compared to PKR 953.3 billion September 2018, gross advances stand increased by PKR 140.1 billion or 14.7 percent. As of September 30, 2019 deposits of the bank amounted to PKR 1,938.0 billion, depicting a drop of PKR 73.3 billion or 3.6 percent as against PKR 2,011.4 billion as of December 31, 2018. Deposits constitute translate into ~13.5 percent share in total banking industry deposits. Customer deposits that form 87.5 percent of the bank’s total funding pool remained stable during the period and amounted to PKR 1,695.0 billion (2018: PKR 1,674.12 billion).
2019 is NBP’s 70th year of service to the Nation, and it continues to deliver strong results. Its business strategy is evolving to ensure a focus on inclusive development through reaching and supporting underserved sectors including SME, Microfinance, Agriculture Finance, and finance for Micro-Housing on a priority basis. This is in addition to the bank’s dominant role in dealing with public sector enterprises and its employees.
Building a digital banking capability and a technology platform will be a central part of this strategy as will the inculcation of a performance driven culture within the institution. For achieving the strategic goals of the bank, certain functions at the Head Office level have been re-organized to create synergies and enhance risk controls.
