NBP profit soars to over Rs22bn in March quarter
MG News | April 25, 2025 at 01:47 PM GMT+05:00
April 25, 2025 (MLN): National Bank of Pakistan (PSX: NBP) has released its financial results for the quarter ended March 31, 2025, reporting a profit after tax of Rs22.11 billion [EPS: Rs10.29], marking a significant increase of 125.14% compared to Rs9.82bn [EPS: Rs4.56] in the same period last year (SPLY).
As per the consolidated statement of profit and loss, the bank’s net mark-up/interest income surged by 139.47% YoY to Rs69.75bn in 1QCY25, up from Rs29.13bn reported in SPLY, despite a 22.48% drop in mark-up earned.
Total non-mark-up/interest income clocked in at Rs26.89bn, reflecting a decline of 7.67% YoY, largely due to lower other income and the absence of gains from derivatives recorded last year.
Fee and commission income rose by 46.65% to Rs9.21bn, while foreign exchange income also improved 13.04% YoY to Rs2bn. However, the bank saw a net loss of Rs100.42 million from derivatives and a Rs327.81m loss on securities.
Share of profit from associates surged 458.46% YoY to Rs394.45m, while profit from joint ventures dropped 39.61% to Rs22.65m. Dividend income remained relatively flat at Rs1.75bn.
On the expense side, total non-mark-up/interest expenses rose by 29.97% YoY to Rs29.22bn, driven mainly by a 29.98% increase in operating expenses.
Credit loss allowance and write-offs increased sharply by 778.88% to Rs6.39bn in the review period.
The bank’s profit before taxation jumped 130.52% YoY to Rs47.09bn, while taxation expenses nearly doubled, rising 135.5% YoY to Rs24.98bn.
Out of the total profit, Rs21.88bn was attributable to equity holders of the bank, and Rs221.44m to non-controlling interest.
| Consolidated statement of profit and loss account for the quarter ended March 31, 2025 (in Rupees ‘000) | |||
| Category | Mar-25 | Mar-24 | %Change |
| Mark-up / Return / Interest Earned | 213,255,175 | 275,082,071 | -22.48% |
| Mark-up / Return / Interest Expensed | (143,502,258) | (245,954,549) | -41.65% |
| Net Mark-up / Interest Income | 69,752,917 | 29,127,522 | 139.47% |
| Non-Mark-up / Interest Income | |||
| Fee and Commission Income | 9,209,691 | 6,280,035 | 46.65% |
| Dividend Income | 1,746,465 | 1,765,477 | -1.08% |
| Foreign Exchange Income | 2,002,261 | 1,771,214 | 13.04% |
| Income / (Loss) from Derivatives | (100,420) | 4,424,218 | |
| (Loss) / Gain on Securities - Net | (327,814) | - | |
| Net Loss on Derecognition of Financial Assets | - | 158,211 | |
| Share of Profit from Joint Venture - Net of Tax | 22,649 | 37,504 | -39.61% |
| Share of Profit from Associates - Net of Tax | 394,454 | 70,632 | 458.46% |
| Other Income | 12,947,286 | 14,507,291 | -10.75% |
| Total Non-Mark-up / Interest Income | 26,894,572 | 29,127,522 | -7.67% |
| Total Income | 82,700,203 | 43,634,813 | 89.53% |
| Non-Mark-up / Interest Expenses | |||
| Operating Expenses | (29,206,993) | (22,469,860) | 29.98% |
| Other Charges | (11,790) | (10,891) | 8.25% |
| Total Non-Mark-up / Interest Expenses | (29,218,783) | (22,480,751) | 29.97% |
| Profit Before Credit Loss Allowance | 53,481,420 | 21,154,062 | 152.82% |
| Credit Loss Allowance and Write Offs - Net | (6,393,799) | (727,490) | 778.88% |
| Extraordinary / Unusual Items | - | - | |
| Profit Before Taxation | 47,087,621 | 20,426,572 | 130.52% |
| Taxation | (24,982,579) | (10,608,281) | 135.50% |
| Profit After Taxation | 22,105,042 | 9,818,291 | 125.14% |
| Attributable to Equity Holders of the Bank | 21,883,603 | 9,708,340 | 125.41% |
| Attributable to Non-Controlling Interest | 221,439 | 109,951 | 101.40% |
| Earnings Per Share - Basic and Diluted | 10.29 | 4.56 | 125.66% |
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