Staff Reporter
Karachi
National Bank of Pakistan’s (NBP) assets value has crossed Rs. 3 trillion. It becomes the second bank to hit this number after Habib Bank Limited (HBL).
The asset values of two other major and competitor banks – MCB Bank and United Bank Limited – stand far behind of HBL and NBP at Rs. 1.58 trillion and Rs 0.5 trillion (by end of September 2019) respectively.
The overall assets of the NBP amounted to Rs 3.02 trillion, constituting a 13.8% share of the banking industry’s total assets. The bank’s market share in deposits and advances stands at 14% and 12% respectively. As of September 30, 2019 deposits of the bank amounted to Rs. 1.938 trillion whereas the gross advances of the bank amounted to Rs. 1.093 trillion. NBP is the Most Profitable Bank in Pakistan
The public sector bank is the most profitable bank in the overall banking industry of Pakistan with a profit of Rs. 16.33 billion in the first nine months of 2019, just above the profit of Rs. 16.29 billion recorded by MCB Bank in the same period.
The bank posted a marginal growth of 1% year-on-year. The drop in after-tax profit is mainly attributed to higher taxation charge of 44.0% as compared to 30.0% for the corresponding period last year.
The net profit translates into earnings per share of Rs. 7.68 as against Rs. 7.60 for the corresponding nine-month period of the prior year.
For the nine-month period, total income of the bank amounted to Rs. 79.4 billion which is 20.3% higher than Rs 66 billion YoY. Net interest income closed at Rs. 53.9 billion, non-mark-up / interest income closed at Rs. 25.6 billion, up by 23.7% and 13.7% respectively.
At present, building up digital banking capability and a technology platform will be a central part of this strategy as will the inculcation of a performance-driven culture within the institution.
For achieving the strategic goals of the bank, certain functions at the Head Office level have been re-organized to create synergies and enhance risk controls.
