NBP holds Board of Directors meeting


Board of Directors of National Bank of Pakistan in their meeting held on August 18, 2011 at the bank’s Head Office Karachi approved the financial statements of the bank for the six months period ended June 30, 2011. The bank recorded pretax profit of Rs11,659 million for the first half year 2011 which is at the same level as corresponding period last year. Earnings per share stands at Rs4.81 compared to Rs4.65 of the corresponding period last year.
Pre tax return on equity stands at 22.6 per cent whereas pre tax return on assets is at 2.2 per cent. Bank’s net interest income increased by Rs1,947 million or 9.4 per cent from corresponding period last year. Non interest markup income increased by Rs1,531 million or 18.4 per cent compared to corresponding period last year as a result of higher fee income and compensation on tax refunds.
Administrative expenses increased by 12 per cent which is in line with inflation and salary increases. Deposits are at the same level as year end December 2010. Compared to June 2010, increase in deposit is Rs.14 billion. Advances increased by Rs26.0 billion compared to year end December 2010 mainly in corporate and agriculture sector. The bank is on track for its infrastructure up gradation project for online branches.