February 28, 2020 (MLN): National Bank of Pakistan has earned profits of Rs. 16.6 billion (EPS: Rs. 7.79) for the year ended December 31, 2019, showing a decline of 17% as compared to the figures of last year.
The bank Net Interest Income grew by 18.5%, whereas Non-Interest Income remained almost static during the abovementioned period. This resulted in a 11.5% increase in total income.
On the contrary, the total expenses of the company increased by 17.2% on the back of higher operating costs.
Another notable change in the bank’s performance was the 25% increase in income tax expense, as well as 21% surge in provisions and write-offs.
|
Consolidated financial results for the year ended December 31, 2019 ('000 Rupees) |
|||
|---|---|---|---|
|
Dec-19 |
Dec-18 |
% Change |
|
|
Mark-up/return/interest earned |
239,710,290 |
150,178,178 |
59.62% |
|
Mark-up/return/interest expensed |
167,556,408 |
89,286,854 |
87.66% |
|
Net mark-up/interest income |
72,153,882 |
60,891,324 |
18.50% |
|
NON-MARK-UP/INTEREST INCOME |
|||
|
Fee and commission income |
20,416,642 |
19,123,980 |
6.76% |
|
Dividend income |
3,099,277 |
2,503,711 |
23.79% |
|
Foreign Exchange income |
6,320,455 |
9,799,855 |
-35.50% |
|
Gain on securities – net |
2,165,524 |
3,940,977 |
-45.05% |
|
Share of (loss)/profit from joint venture – net of tax |
(96,336) |
(334,149) |
|
|
Share of(loss)/profit from associates – net of tax |
37,331 |
(35,359) |
-205.58% |
|
Other income |
5,816,974 |
2,675,429 |
117.42% |
|
Total non-mark-up/interest income |
37,759,867 |
37,674,444 |
0.23% |
|
Total Income |
109,913,749 |
98,565,768 |
11.51% |
|
NON-MARK-UP/INTEREST EXPENSES |
|||
|
Operating expenses |
67,228,062 |
57,234,494 |
17.46% |
|
Workers welfare fund |
– |
– |
|
|
Other charges |
150,585 |
245,997 |
-38.79% |
|
Total non-mark-up/interest expenses |
67,378,647 |
57,480,491 |
17.22% |
|
Profit before provisions |
42,535,102 |
41,085,277 |
3.53% |
|
Provisions and write offs – net |
13,557,101 |
11,205,488 |
21% |
|
Profit before taxation |
28,978,001 |
29,879,789 |
-3.02% |
|
Taxation |
12,330,809 |
9,844,489 |
25.26% |
|
Profit after taxation |
16,647,192 |
20,035,300 |
-16.91% |
|
Basic and diluted earnings per share |
7.79 |
9.39 |
-17.04% |
Copyright Mettis Link News
33076
