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National Bank of Pakistan Posts Rs. 16.7 billion Pre-Tax Profit

Karachi: Board of Director’s of National Bank of Pakistan in their meeting held on October 27, 2011 at the bank’s Head Office Karachi approved the financial statements of the Bank for the nine months period ended September 30, 2011.

The bank recorded pretax profit of Rs. 16,751 million for the third quarter 2011 which is marginally higher then corresponding period last year. Earnings per share stands at Rs. 6.78 almost at the same level as the corresponding period last year. Pre tax return on equity stands at 21.4% whereas pre tax return on assets is at 2.2%.

Bank’s net interest income increased by Rs.3,597 million or 5.5% from corresponding period last year.

Non interest mark-up income increased by Rs. 1,787 million or 15.7% compared to corresponding period last year. Administrative Expenses increased by 12.6% in line with inflation and salary increases.

Deposits increased by 54 billion compared to September 2010. Advances increased by Rs. 36 billion compared to year end December 2010.

The bank is continuing its program of ‘Online Connectivity Services for Network Enhancement’ (OCSNE), in which branches are being automated, hardware and software is being upgraded along with connectivity infrastructure and network management. More than 575 branches have been upgraded so far.

For more information, contact:
Syed Ibne Hassan
Vice President,
Corporate Communication Division
National Bank of Pakistan
Tel: +9251 9922073
Cell: +92300 8202184

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