KARACH

The Pak Banker - - FRONT PAGE -

Pak­istan's premier len­der Na­tional Bank of Pak­istan (NBP) has achieved a profit of Rs 33.2 bil­lion in 2015, show­ing 51pc in­crease in its earn­ings com­pared to the correspondent year of 2014 re­sults.

This is a com­plete turn­around from 2013 profit of Rs 7.0 bil­lion (a 400pc in­crease). Af­ter tax profit growth was hit by Rs.2.3 bil­lion ad­di­tional tax charges due to last year's Fed­eral Bud­get changes. How­ever, de­spite ad­di­tional tax bur­den of Rs2.3 bil­lion, af­ter tax profit was recorded at Rs. 19.2 bil­lion which is 28 per­cent higher than pre­vi­ous year. Meet­ing of the Board of Di­rec­tors of Na­tional Bank of Pak­istan here at Bank's Head Of­fice in Karachi to ap­prove the Fi­nan­cial State­ments of the bank for the year ended De­cem­ber 31, 2015.

On year on year ba­sis (YoY), core net in­ter­est in­come in­creased 17 per­cent from Rs. 45.8 bil­lion to Rs 53.7 bil­lion, while non-in­ter­est in­come in­creased 15 per­cent from Rs30.4 bil­lion to Rs.35.0 bil­lion in 2015. Ad­min­is­tra­tive ex­penses were kept un­der con­trol and in­creased marginally by 5 per­cent. The bank is ag­gres­sively en­deav­our­ing to in­crease its mar­ket share. De­posits are at Rs1.43 tril­lion, in­crease of 16 per­cent in 2015 YoY, higher than the sec­tor growth and low cost CASA de­posits con­sti­tut­ing 77 per­cent of the do­mes­tic de­posits. To­tal as­sets of the bank have crossed Rs.1.7 tril­lion mark.

The Board of Di­rec­tors have pro­posed fi­nal cash div­i­dend of Rs 7.5 per share (75%) for the year ended De­cem­ber 31, 2015 which is 36 per­cent higher than last year. This trans­lates into 92 per­cent div­i­dend pay-out of the bank's dis­tributable profit for the year 2015 (af­ter statu­tory re­serve al­lo­ca­tion) and is the high­est in the bank­ing in­dus­try. The Na­tional Bank of Pak­istan (NBP) re­cently won the glob­ally recog­nised "The Bank of the Year in Pak­istan 2015" award. The awards pre­sen­ta­tion cer­e­mony was or­gan­ised in Lon­don by The Banker, which is a flag­ship pub­li­ca­tion of the Fi­nan­cial Times Group of UK. The award was re­ceived by Pres­i­dent, NBP, Syed Ahmed Iqbal Ashraf. The Banker se­lected only one bank from each of 120 coun­tries across the world.

Over 1,000 en­tries were col­lected and the judges se­lected win­ning banks based on progress over the past 12 months. From Pak­istan, only NBP was cho­sen for the award for the year 2015. The Banker "Bank of the Year Awards" is re­garded as the Os­cars of the bank­ing in­dus­try world­wide and for 90 years, The Banker has been the world's lead­ing monthly jour­nal of record for banks glob­ally.

The aim of the awards is to high­light in­dus­try-wide ex­cel­lence within the global bank­ing com­mu­nity. NBP is well known to be the largest bank of the coun­try in terms of cus­tomers, ru­ral pen­e­tra­tion and lend­ing port­fo­lio. Be­ing the "Na­tion's Bank", it also han­dles govern­ment trea­sury busi­ness.

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