National Bank of Pakistan profits rise 1.121% to Rs. 23.345 billion
MG News | February 20, 2018 at 02:48 PM GMT+05:00
National Bank Ltd. during the year ending December, 2017 reported profits worth Rupees 23.345 billion after the company net markup income grew by more than 7 percent.
National Bank of Pakistan profit grew by 1.12% during the year 2017 as company profits clocked in at Rs. 23.345 billion against Rupees 23.087 billion in 2016. In tandem with the entire market trend, the Bank profits from investments in securities dropped by more than 23% to Rs. 6.5 billion.
However, the company’s earnings per share grew by 0.65% with earnings per share clocked in at Rupees 10.9 per share.
| Unconsolidated Profit and Loss Account - For the Year Ended, December 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Net mark-up/return/interest earned | 123,415,023 | 115,028,828 | 7.29% |
| Net mark-up/return/interest earned after provisions | 55,936,582 | 56,402,674 | -0.83% |
| Fee, commission and brokerage income | 18,403,001 | 15,908,884 | 15.68% |
| Dividend Income | 3,531,391 | 2,797,675 | 26.23% |
| Income from Foreign Currencies | 2,417,473 | 2,314,852 | 4.43% |
| Capital gain on sale of securities - net | 6,507,225 | 8,525,471 | -23.67% |
| Other income | 1,756,537 | 1,566,568 | 12.13% |
| Total non-mark-up/interest income | 32,115,231 | 31,032,139 | 3.49% |
| Administrative Expenses | 49,735,202 | 48,432,410 | 2.69% |
| Other provisions - net | 1,867,034 | 1,098,216 | 70.01% |
| Other charges/reversals | 306,057 | 309,450 | -1.10% |
| Total non-mark-up/interest expenses | 51,908,293 | 49,840,076 | 4.15% |
| Profit before Taxation | 36,143,520 | 37,594,737 | -3.86% |
| Taxation | 12,797,658 | 14,507,477 | -11.79% |
| Profit after Taxation | 23,345,862 | 23,087,260 | 1.12% |
| Taxation | 12,797,658 | 14,507,477 | -11.79% |
| Profit after Taxation | 23,345,862 | 23,087,260 | 1.12% |
| EPS - Basic and diluted | 10.90 | 10.83 | 0.65% |
Company release on Earnings Report can be accessed here.
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