NBP profit soars to over Rs22bn in March quarter

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MG News | April 25, 2025 at 01:47 PM GMT+05:00

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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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