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

The Pak Banker - - FRONT PAGE - Staff Re­porter

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.

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