The National Bank of Pakistan (NBP) became the second profitable bank in Pakistan in 2018, after MCB, which was the most profitable bank in the country over the same period.
NBP recorded an advantage of Rs. 20 billion in 2018, which is Rs. 2.3 billion less than in 2017. The bank did not maintain its earnings growth in the fourth quarter of the calendar year, which is usually the most profitable of the year.
NBP Registers its Highest Income in 7 Decades by 2018
The bank’s profitability is good before the Rs profit of United Bank Limited. 15 billion, Rs from Allied Bank Limited. 13 billion and Habib Bank Limited with Rs. 12.2 billion in 2018.
During the year, the bank recorded a significant increase in loan losses and other provisions amounting to Rs. 11.3 billion against Rs. 1.2 billion in the previous year. This is mainly due to the lack of full payment by a single group of borrowers. Therefore, the after-tax profit for the year was 13.1% down on the previous year and amounted to Rs. 20 billion.
NBP Becomes the First Bank To Maintain Rs. 2 Trillion Deposits:-
NBP is the first bank in Pakistan to maintain Rs deposits. 2 trillion. As a public sector bank, it has taken into account government and its various institutions that have mobilized the value of the large deposit.
The bank’s loans and gross advances exceeded the Rs mark. 1 billion end of 2018. For better liquidity management and the risk rate, it maintains a healthy portfolio of investments in lower risk securities.
NBP saw healthy growth in the size of its balance sheet, as the bank’s total assets reached Rs. 2.8 billion.
Highest Revenue in 7 Decades:-
The bank recorded solid growth in terms of both the size of the balance sheet and the total income. Despite a particularly difficult year for the banking industry, NBP achieved the highest total income in its seven-decade history. The bank’s total income is Rs. 96.9 billion, which is 13.6% higher than Rs. 85.3 billion from the previous year.
While net interest income / co-payments increased by 11.8% to Rs. 60.7 billion, a growth of 16.7 percent was also achieved without interest / co-payments in Rs. 36.2 billion.
NBP’s Initiatives and Expansions:-
The bank has just launched its debit card product and is in line with the new dynamics of electronic banking to use every digital channel to reach its reach in the market to meet customer expectations.
NBP is constantly expanding its reach into the market by adding to its product range, restructuring its business model and adopting modern delivery strategies. The bank has a special focus on promoting home payments in Pakistan through the bank channel.
Based on its extensive and growing network of correspondents, especially in the Middle East, the bank offers an uncomplicated payment service throughout Pakistan. Providing services through alternative delivery channels and the quality of customer service are also key focus areas of the Bank.
During the year, the bank added 23 more branches to its Aitemaad Islamic Banking Network.
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