The 32nd Annual General Meeting of the members of The Bank of Punjab was held at Avari Hotel, Shahra-e-Quaid-e-Azam, Lahore on Wednesday.
The meeting was attended by members of the Board of Directors, Bank’s Senior Management and a large number of shareholders.
During the Annual General Meeting, a brief presentation on Bank’s financial performance was given to the shareholders. The participants were apprised that during the year 2022, Bank’s Balance Sheet grew by 24% and reached the level of Rs. 1.48 Trillion. As on December 31, 2022, Bank’s deposits stood at the level of Rs.1.23 Trillion showing a commendable growth of 22%.
With prudent management of resources, aggressive business expansion and introduction of new products & services, the Bank has been able to post before tax profit of Rs. 18.51 billion during year 2022.
The Effective Tax Rate increased by 10% over the corresponding period vide Finance Act 2022. Accordingly, the Bank posted After Tax Profit of Rs. 10.83 Billion. Earnings per Share (EPS) for year 2022 remained at Rs. 3.64 per share against Rs. 4.18 per share during year 2021.