KARACHI: National Bank of Pakistan (NBP) on Tuesday announced decline in its annual net profit to Rs28.76 billion for the year ended December 31, 2021.
The annual net profit of the NBP fell by 6 per cent from Rs30.58 billion in the preceding year.
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The bank announced basic earnings per share (EPS) at Rs13.44 for 2021 as compared with Rs14.33 in the preceding year.
The bank said that the board of directors of NBP met on Tuesday March 18, 2022 and approved cash dividend for the year ended December 31, 2021 at Re 1 per share i.e. 10 per cent.
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The net mark-up/interest income of the bank declined to Rs97.76 billon during 2021 as compared with Rs104 billion in the preceding year. Total non-markup /interest income slightly up at Rs38.86 billion for the year ended December 31, 2021 as compared with Rs37.36 billion in the preceding year.
Operating expenses of the bank also reduced to Rs61 billion for the year under review as compared with Rs64.12 billion in the preceding year.
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Provisioning and write-offs of the bank fell to Rs11.66 billion for the year under review as compared with Rs31 billion. However, an amount of Rs9.78 billion has been spend on extra-ordinary item during the year ended December 31, 2021.
It is pertinent to mention that the US Federal Service imposed penalty to the tune of $55 million on the NBP for violating anti-money laundering rules in the US.
