NBP reports 15% growth in pre-tax profit in 1st Quarter of 2019

Corporate Ambassador/KARACHI: National Bank of Pakistan has reported 15^th percent growth in its pre-tax profit for the first quarter of 2019. During this quarter, the pre-tax profit of the Bank amounted to PKR 8.7 billion as against PKR 7.6 billion for the corresponding quarter of 2018, registering an increase of 15.3%. After-tax profit for the period under review amounted to PKR 4.2 billion being 14.5% lower than PKR 4.9 billion earned during the corresponding period of 2018 due to imposition of super tax vide the Finance Supplementary (Second Amendment) Act 2019 for the tax year 2018 (financial year ended December 31, 2017)Meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) was held on May 22, 2019 at Bank’s Head Office in Karachi in which the BoD approved the financial statements of the Bank for the quarter ended March 31, 2019.

The Bank earned mark-up/interest income amounting to PKR 45.8 billion which is 45.9% higher than PKR 31.4 billion earned during the corresponding period last year. This growth is attributed to the increase in discount rate, as well as a volumetric growth in both investment and advances, YoY. Also, the Bank’s non-mark-up/interest income increased by 40.2% YoY and amounted to PKR 8.3 billion. The Bank’s unconsolidated pre-provision profit amounted to PKR 10.98 billion which is 45.2% higher than PKR 7.6 billion for the corresponding period last year. Pre-tax profit of the Bank amounted to PKR 8.7 billion as against PKR 7.6 billion for the corresponding quarter of 2018, registering an increase of 15.3%. After-tax profit for the period under review amounted to PKR 4.2 billion being 14.5% lower than PKR 4.9 billion earned during the corresponding period of 2018 due to imposition of super tax vide the Finance Supplementary (Second Amendment) Act 2019 for the tax year 2018 (financial year ended December 31, 2017). Earnings per share amounted to PKR 1.97 as against PKR 2.30 for the corresponding quarter ended March 31, 2018.

 

Total assets of the Bank as at March 31, 2019 stood at PKR 2,401.8 billion compared to PKR 2,798.6 billion as at December 31, 2018, registering a decline of 14.2%. Gross advances of the Bank amounted to PKR 1,046.1 billion which is slightly lower than PKR 1,059.5 billion as at December 31, 2018. However, YoY, total advances stand increased by PKR 176.6 billion or 20.3% as compared to PKR 869.5 billion as of March 31, 2018. Total deposits of the Bank as of March 31, 2019 amounted to PKR 1,778.7 billion, lower by PKR 232.7 billion (11.6%) as against PKR 2,011.4 billion as of December 31, 2018. The drop was observed due to withdrawal of deposits by certain financial institutions. Customer deposits that form the core of Bank’s funding pool however remained stable.

 

Moving into its 70^th year of untiring service to the Nation, the Bank remains committed to delivering exceptional results to its shareholders in years to come. Its business strategy is underpinned by a renewed focus on customer service supported by significant upgrade of its technology infrastructure which is a key enabler.

Get Online Content-Writing Training & Earn Money

 

To add another feather of value-addition, weekly Corporate Ambassador is starting training of Online Content-Writing/Editing after Eid Holidays. In the past, Corporate Ambassador has organized 15 Corporate Ambassador Awards _ 11 in Karachi and four in Islamabad. In addition to this, several conferences and seminars have also been organized from this platform in collaboration with different organizations.

However, to promote employment and skill development, Corporate Ambassador is starting online content writing/editing training, initially from Karachi/Islamabad that will be expanded to other cities later on. For online training, candidates from any city can apply for training.

Candidates with strong writing power in English can apply for training as they will have to pass two tests _ one will be translation from Urdu to English and second test will be the re-writing/editing articles written in English. Basic aim of these two tests is to determine the capability of the candidates that will enable us to design training schedule as per their level of capability.

Fee will be charged from the candidates for this training so that only serious candidates participate in this important training. Fee will be charged as per the length of the training schedule _ from one week to three weeks. Successful candidates will also be facilitated with Part Time writing work, especially those with outstanding writing/editing skill. Part Time online job (Work from Home/Office) will be facilitated on the basis of goodwill gesture and it will not be mandatory/guaranteed. Candidates must have their own Computers/Laptops and internet facility to start part-time writing/editing work after completing the training.

Important to note is that we have already trained some youngsters who are already working as freelance writers, quality editors and earning money for more than a year period.

It is an ideal opportunity for those who are either jobless or want to earn additional money through online content writing and editing in English. For further information, plz send email to Mr Javed Mahmood, Editor weekly Corporate Ambassador, international writer and quality editor, having more than 15 years experience of content writing and freelance writing for different international and Pakistani organizations.

So hurry up and send email at: jchoudhry63@gmail.com or contact at Whatsapp number 0334-3939029. Fee will be charged only from those candidates who clear the tests and qualify for training.