KARACHI NIB Bank announced that it has earned a profit after tax of Rs. 1.565 billion for the 3rd quarter of 2011 on an unconsolidated basis, says a press release. This result is a combination of improving performance on an operating level as well as better recoveries and reversals of provisions taken in previous periods. NIB Bank put into place a revised strategy in early 2010 which decreased emphasis on SME and Consumer lending and increased focus on low cost deposit generation and transaction banking solutions for its growing customer base in 59 cities and towns through 179 branches. Non-mark-up income increased to Rs. 815 million in 3rd quarter 2011 due to improved earnings from foreign exchange activities, capital gains on securities and dividends from PICIC Asset Management Company - NIBs wholly owned subsidiary.