KARACHI

The Pak Banker - - FRONT PAGE -

Na­tional Bank of Pak­istan has achieved an ex­po­nen­tial 51pc growth in pre-tax profit for the year as it in­creased by Rs11.2 bil­lion from Rs22.0 bil­lion for the year 2014 to Rs. 33.2 bil­lion for the year 2015.

This is a com­plete turn­around from year 2013; and is higher by 368 pc from 2013. The in­crease in profit be­fore tax is mainly de­rived through 17 pc growth in core net in­ter­est/ markup in­come, and 15 pc growth in non in­ter­est / mark-up in­come.

To mit­i­gate the im­pact of the pol­icy rate cut, the Bank man­aged its earn­ing as­sets port­fo­lio-mix in an op­ti­mum man­ner. It was pre­sented to the share­hold­ers that the im­proved re­sults were achieved through ef­fec­tive ex­e­cu­tion of strate­gies which en­com­pass im­prov­ing de­posits mix for higher net in­ter­est in­come, port­fo­lio op­ti­mi­sa­tion and re-pro­fil­ing, cost con­trols, busi­ness au­to­ma­tion and ex­pan­sion in branch net­work. The bank also fo­cused on re­cov­er­ies against non-per­form­ing loans.

The Board of Direc­tors in its meet­ing held on Fe­bru­ary 19, 2016, had pro­posed a fi­nal cash div­i­dend of Rs. 7.50 per share (75 pc) for the year ended De­cem­ber 31, 2015. This trans­lates into 92 pc div­i­dend pay­out of the bank's dis­tributable profit for the year 2015 (af­ter statu­tory re­serve al­lo­ca­tion) and is among the highest in the bank­ing in­dus­try.

Higher div­i­dend pay­out

re­flects bank's strong cap­i­tal po­si­tion with con­tin­u­ous fo­cus on in­creas­ing stake­holder value by cap­i­tal­is­ing on op­por­tu­ni­ties to drive strong per­for­mance for the or­gan­i­sa­tion and even higher pay­outs to the share­hold­ers in the years ahead.

The share­hold­ers ap­proved div­i­dend pay­out of 75 pc cash div­i­dend (Rs. 7.50/- per share) as rec­om­mended by the Board of Direc­tors of the bank. The 67th An­nual General Meet­ing of Na­tional Bank of Pak­istan was held at Mar­riot Ho­tel Karachi on Wed­nes­day. The meet­ing was well at­tended by the share­hold­ers. The Chair­man Muneer Ka­mal and Pres­i­dent Syed Iqbal Ashraf also at­tended the meet­ing.

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