LAHORE - A meeting of the Board of Directors of The Bank of Punjab was held on Thursday. During the meeting, un-audited financial statements of the bank for nine months ended September 30, 2016 were approved by the Board.

During first nine months of the year 2016, Bank of Punjab earned before tax profit of Rs6.0 billion as against Rs5.6 billion during corresponding period of year 2015. Similarly, the Earnings per share (EPS) for the nine months ended September 30, 2016 touched the level of Rs2.53 per share.

During the period, Net Interest Margin (NIM) of the bank improved to Rs8.9 billion as against Rs 8.1 billion during corresponding period of last year. The bank’s non-markup/ interest income also reached the level of Rs. 4.0 billion.

Bank’s total assets as on September 30 increased to Rs526.6 billion as against Rs472.3 billion as on December 31, 2015. The deposits of the bank touched the level of Rs 420.5 billion as against Rs 375.0 billion as on December 31, 2015. The gross advances and investments were recorded at Rs 273.3 billion and Rs209.1 billion, respectively.