KARACHI: National Bank of Pakistan
(NBP) reported after-tax profit of Rs22.8 billion for 2016 on Wednesday, up 18
per cent from a year ago.
It translates into earnings per share of Rs10.69 against Rs9.03
of 2015.
The board also recommended a cash dividend of Rs7.50 per share
for the year, which translates into a payout ratio of 78pc after the statutory
reserve allocation.
Despite a generally difficult year with downward trends for the
banking industry on account of a reduction in the discount rate and lower
exchange arbitrage opportunities, the bank recorded growth of Rs3.9bn, or 12pc,
in its pre-tax profit, which amounted to Rs37.1bn.
The bank improved its loan book quality as non-performing loans
recorded a net reduction of Rs7.9bn during the year. Balance sheet grew to
Rs1,975bn, depicting a 16pc increase over the preceding year.
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