NBP profit soars to over Rs22bn in March quarter

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

0:00

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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