BoP declares 100pc rise in 1H un-audited earnings in 2015

A meeting of the Board of Directors of The Bank of Punjab was held here to review un-audited financial statements of the Bank for the half year ended June 30, 2015 and approved by the Board.

During 1st half of the year 2015, The Bank of Punjab earned before tax profit of Rs 4.2 billion as against Rs2.1 billion for the 1st half of year 2014 thereby registering a massive rise of 100pc.

Similarly, the earning per share (EPS) for the half year ended June 30, 2015 showed phenomenal surge and touched the level of Rs 1.78.

During the 1st half of the year 2015, Net Interest Margin (NIM) of the Bank improved significantly to Rs5.4 billion as against Rs2.8 billion during corresponding period of last year thereby registering a commendable growth of 93pc.

The bank's Non-Markup/ Interest Income for 1st half of year 2015 also reached the level of Rs4.3 billion as against Rs1.3 billion during corresponding period of last year, showing a tremendous growth of 231pc. Bank's total assets as on June 30, 2015 increased to Rs 441 billion. The deposits of the Bank touched the level of Rs 386 billion as against Rs 342 billion as on December 31, 2014, showing a significant rise of 13pc. The advances and investments increased to Rs. 195 billion and Rs170 billion, respectively.

With a view to take the brand name of the Bank to every corner of the country and ensure easy access of every segment of society to state of the art banking products and services, Bank is expanding its outreach to unbanked areas of the country. The Bank now has a network of 364 online branches, including 37 Islamic Banking Branches, spanned across the country. Further, Bank also has a vast network of ATMs providing 24/7 banking services to the customers.