February 22, 2019 (MLN): National Bank of Pakistan (NBP) has suffered declines of 14% in its annual profits for the year ended December 31, 2018, as provisions and write-offs for the period amounting to Rs.11 billion gave a major blow to the financial positon of the bank.
The total income of the bank exhibited fair growth of 14%, which was enough to control the increase in total expenses by 15%. However, increase in provisions and write-offs played a major role in dragging down the profits by Rs. 3 billion
NBP’s profits for the said period were stated at Rs. 20 billion, whereas its Earnings per share stood at Rs. 9.36.
|
Profit and loss account for the year ended December 31 2018 (Rupees'000) |
|||
|---|---|---|---|
|
|
Dec-18 |
Dec-17 |
% Change |
|
Mark-up / return / interest earned |
150,178,178 |
123,415,023 |
21.69% |
|
Mark-up / return / interest expensed |
89,286,854 |
68,810,743 |
29.76% |
|
Net mark-up / return / interest income |
60,891,324 |
54,604,280 |
11.51% |
|
NON MARK-UP / INTEREST INCOME |
|
|
|
|
Fee and commission income |
20,123,937 |
18,403,001 |
9.35% |
|
Dividend income |
2,503,711 |
3,531,391 |
-29.10% |
|
Foreign exchange income |
8,799,898 |
2,417,473 |
264.01% |
|
Gain on securities – net |
3,940,977 |
6,517,542 |
-39.53% |
|
Share of (loss) / profit from joint venture – net of tax |
-334,149 |
1,709 |
|
|
Share of loss from associates – net of tax |
-35,359 |
-512,422 |
-93.10% |
|
Other income |
2,675,429 |
1,756,537 |
52.31% |
|
Total non-markup / interest income |
37,674,444 |
32,115,231 |
17.31% |
|
Total income |
98,565,768 |
86,719,511 |
13.66% |
|
NON MARK-UP / INTEREST EXPENSES |
|
|
|
|
Operating expenses |
57,234,494 |
49,735,202 |
15.08% |
|
Other charges |
245,997 |
306,057 |
-19.62% |
|
Total non-markup / interest expenses |
57,480,491 |
50,041,259 |
14.87% |
|
Profit before provisions |
41,085,277 |
36,678,252 |
12.02% |
|
Provisions and write offs – net |
11,205,488 |
534,732 |
1995.53% |
|
PROFIT BEFORE TAXATION |
29,879,789 |
36,143,520 |
-17.33% |
|
Taxation |
9,844,489 |
12,797,658 |
-23.08% |
|
PROFIT AFTER TAXATION |
20,035,300 |
23,345,862 |
-14.18% |
|
Basic and diluted earnings per share |
9.36 |
10.90 |
-14.13% |
Copyright Mettis Link News
26292
