NBP’s profit surges by 72%, clocks in at Rs 53.3bn in 2023

Author: News Desk

National Bank of Pakistan (NBP), one of the country’s largest commercial banks, registered a profit-after-tax (PAT) of Rs53.32 billion during calendar year 2023, a growth of over 72% year-on-year.

The bank registered a PAT of Rs30.95 billion in the same period of the preceding year. As per a notice sent to the Pakistan Stock Exchange (PSX) on Thursday, NBP’s earnings per share stood in at Rs24.96 in 2023, an increase from Rs14.49 in 2022.

The Board of Directors of the bank did not recommended any cash dividend. The profit comes on the back of a massive increase in interest income. During the period, NBP’s mark-up/return earned rose from Rs503.58 billion in 2022 to Rs 1,025.13 billion in 2023, an increase of nearly 104%.

As a result, the bank’s net mark-up/return earned increased to Rs169.36 billion in 2023, as compared to Rs117.1 billion in 2022, a jump of 45%. The fee and commission income earned by NBP in 2023 clocked in at Rs24.14 billion, an increase of 7% against Rs22.56 billion earned in the same period last year. On the other hand, NBP’s foreign exchange income declined by nearly 7%, down from Rs8.3 billion in 2022 to Rs7.7 billion in 2023.

The bank recorded massive gain of 294% on securities to the tune of Rs4.42 billion in 2023, in comparison to a gain of Rs1.12 billion in SPLY. During the period, NBP’s share of profit from joint venture and from association increased to Rs1.47 billion, as compared to only Rs450 million in 2022, an increase of 227%. During the period, the bank saw its non-interest income increased 14%.

Share
Leave a Comment

Recent Posts

  • Sports

Unbeaten India face record-setting N Zealand for Champions Trophy glory

India play New Zealand in the Champions Trophy final in Dubai on Sunday in what…

9 hours ago
  • Sports

Fonseca delivers on Indian Wells debut, Kyrgios exits with injury

Highly touted Brazilian teenager Joao Fonseca rallied from a break down in the third set…

9 hours ago
  • Sports

Two-time Olympic taekwondo champion Jade Jones launches boxing career

Jade Jones, a two-time Olympic gold medalist in taekwondo, is launching a career in boxing.…

9 hours ago
  • Sports

Saudi PIF to pay ‘up to 12 months maternity leave’ for tennis players

Saudi Arabia's Public Investment Fund (PIF) is to finance a joint initiative with the WTA…

9 hours ago
  • Sports

Chhetri comes out of retirement aged 40

Indian football legend Sunil Chhetri will return to the national team aged 40 in an…

9 hours ago
  • Sports

Suárez, Allende score to lead Inter Miami past Cavalier FC 2-0

Luis Suárez and Tadeo Allende scored second-half goals with a healthy Lionel Messi on the…

9 hours ago