LAHORE -  The Bank of Punjab (BoP) Board of Directors on Wednesday held a meeting to consider and approve the un-audited financial statements of the bank for the half year ended June 30, 2017.

During the first half of the year 2017, Net Interest Margin (NIM) of the bank improved to Rs7.2 billion as against Rs5.9 billion during corresponding period of last year. The bank’s Non-Markup/Interest Income remained at the level of Rs3.0 billion. Accordingly, the bank earned profit-before-tax of Rs3.8 billion during first half of year 2017 and Earnings per share (EPS) for the half year remained at Rs1.41.

As on June 30, 2017, the bank’s total assets increased to Rs627.5 billion. The deposits of the bank reached the level of Rs528.8 billion as against Rs453.2 billion as on December 31, 2016. Similarly, the advances and investments remained at Rs336.2 billion and Rs235.6 billion, respectively. The bank’s Tier-I equity improved to Rs27.1 billion as against Rs24.2 billion as on December 31, 2016.

The bank has been assigned long term entity rating of “AA” by The Pakistan Credit Rating Agency (PACRA) with short term rating being at highest rank of “A1+”.