NBP profit soars to over Rs22bn in March quarter

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.

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