LAHORE - Meeting of the Board of Directors (BoD) of National Bank of Pakistan (NBP) was held on Friday at the bank’s head office in which the BoD approved the financial statements of the bank for nine months period ended September 30, 2017.

Operating income of the bank for nine months period amounted to Rs61.3 billion, while net interest/mark-up income for the nine months period amounted to Rs38.3 billion being 2.4 percent lower than Rs39.3 billion of September 2016, the non-interest/mark-up income recorded a 10.0 percent growth and amounted to Rs23.0 billion (September 2016: Rs20.9 billion). After-tax profit for the nine months was 9.6 percent up YoY and amounted to Rs14.7 billion (September 2016: Rs13.4 billion), translating into earnings per share of Rs6.91 as against Rs6.31 for the similar period prior year.

During the period under review, the bank also achieved a significant growth in its Balance Sheet size that has now increased to Rs2.22 trillion being 12.6 percent up against December 2016 and 21.57 percent up against the corresponding nine months period of 2016. The bank’s deposits amounted to Rs1,684.8 billion, ie 1.7 percent up against that of December 2016 and 18.9 percent up against the corresponding nine months period. Accordingly, growth is also achieved in advances which amounted to Rs797.4 billion being 2 percent up compared to that of December 2016 and 8.2 percent up compared to that of September 2016.

The bank has filed a review petition against the recent judgement of the Supreme Court of Pakistan in the pension case. Pending the decision of review petition, financial impact of the recent decision has not been included in the instant financial statements for the nine months period.