National Bank declares 110 percent growth in quarterly profit

KARACHI: National Bank of Pakistan (NBP) on Tuesday declared massive growth in after tax profit by 110 percent to Rs11 billion for quarter ended September 30, 2020.

According to financial result, the sharp increase in profitability may be attributed to significant rise in gain securities. The bank’s gain on securities increased to Rs3.59 billion for the quarter ended September 30, 2020 as compared with Rs250 million in the same quarter of the last year.

The net interest income of the bank increased by 71.58 percent to Rs31.4 billion for the quarter ended September 30, 2020 as compared with Rs18.3 billion in the same quarter of the last year.

The total income of the bank jumped up by 58.86 percent percent to Rs40.78 billion for the quarter under review as compared with Rs25.67 billion in the same period of the last year.

Operating expenses of the bank increased to Rs15.45 billion for the quarter ended September 30, 2020 as compared with Rs13.43 billion in the same period of the last year, showing growth of 15.04 percent.

The NBP paid Rs7.67 billion as tax for the period under review as compared with Rs3.4 billion in the corresponding quarter of the last year, showing an increase of 126 percent.

Leave a Reply

You have to agree to the comment policy.