Trade Chronicle May & June 2015

TRADE CHRONICLE
Banking & Insurance News
NBP posts Rs8.5bn preprovision
profit in Q1
The Board of Directors of National
Bank of Pakistan (NBP) has
approved the financial statements of
the bank for the three months period
ended March 31, 2015.
The bank in first quarter of 2015
recorded pre-provision profit of Rs
8.5 billion, an increase of 57 percent
from comparative period last year.
Pre-tax profit amounted to Rs 5 billion
which is higher by 14 percent from
the corresponding period last year.
After tax profit stood at Rs 3.3 billion
as compared to Rs 3.1 billion for the
same period last year showing an
increase of 4.2 percent. Despite
reduction in interest rates, net interest
income increased from Rs 8.6 billion
in first quarter of 2014 to Rs 10.5
billion in 2015 reflecting an increase
of 21 percent due to increase in
balance sheet size. Non-interest
income is Rs 8.4 billion, higher by Rs
4.3 billion or 29 percent.
Compared to March 2014, deposits
have increased by around 12 percent,
while advances marginally increased
by 0.4 percent. From December
2014, advances have declined by 2.9
percent mainly due to seasonal
adjustments. The bank is focusing on
reducing the non-performing loans
through restructuring. The bank is
strongly capitalized with capital and
reserves of Rs 166.8 billion, which
translates into break- up value per
share of Rs.78/- per share.
Core Banking Application (CBA)
rollout in 1,100 plus remaining
NBP branches is under
implementation in 2015 to utilize
maximum benefit of automation
and facilitating NBP customers
with enhanced services. This year
we have converted 180 additional
branches on CBA taking total
branches on the new platform at
453. The bank plans to add 1,000
ATMs to its network by 2015, out
of which 250 ATM project is under
implementation and remaining 750
ATMs are planned to be installed
by the end of 2015.
Group Chief Mr. Khalid
bin Shaheen of NBP’s
visits NPC, Islamabad.
National bank of Pakistan is
supportive of the endeavors that shall
be undertaken for the welfare and
professional advancement of
Pakistani journalists and will keep up
with this commitment in future as well.
These sentiments were expressed by
the Group Chief of National Bank of
Pakistan Mr. Khalid bin Shaheen
during his recent visit to National
Press Club, Islamabad. On this
occasion, National Bank of Pakistan
also presented the National Press
Club with 10 computers and a printer
for their computer lab. The delegation
of NBP was led by group chief,
Khalid bin Shaheen who was also
accompanied by divisional head
Nabeel Saeed, vice president Syed
President National Press Club, Shehryar Khan while presenting a shield of
appreciation to Group Chief Natinal Bank of Pakistan during his recent visit to
the Press Club. Club Secretary Tariq Mehmood was also present on the occasion.
Ibn-e-Hasan, manager media &
corporate communications Abbas
Jatoi and Mehtab Siddiqui.
Speaking on the occasion, group chief
of NBP Khalid bin Shaheen said, “We
applaud the endeavors undertaken by
National Press Club to ensure the
welfare and professional well-being of
journalists. National Bank of Pakistan
will continue to cooperate with
National Press Club for their initiatives
as it has been in the past and will
continue to do so in future as well.”
Trade Chronicle - May - June 2015 - Page # 38