BoP announced highest ever quarterly profit of its history

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A meeting of the Board of Directors of The Bank of Punjab was held on Tuesday. During the meeting, un-audited financial statements of the Bank for the quarter ended March 31, 2015 were approved by the Board. During first quarter of the year 2015, The Bank of Punjab earned highest ever quarterly before tax profit of Rs 2.0 billion as against Rs 0.7 billion for the first quarter of year 2014 thereby registering a phenomenal rise of 186%. Similarly, the earning per share (EPS) for the quarter ended March 31, 2015, showed remarkable surge and touched the level Rs 0.84. During the first quarter of the year 2015, Net Interest Margin (NIM) of the Bank improved significantly to Rs 2.5 billion as against Rs 1.0 billion during corresponding period of last year thereby registering a commendable growth of 150%. The Bank’s non-markup/interest income for first quarter of year 2015 also touched the level of Rs 1.9 billion as against Rs 0.8 billion during corresponding period of last year, showing a remarkable growth of 138%. Bank’s total assets as on March 31, 2015 stood at Rs 425 billion as against Rs 420 billion on December 31, 2014. The Deposits of the Bank stood at the level of Rs 330 billion, while the advances and investments remained at Rs 178 billion and Rs 180 billion, respectively.