KARACHI: The National Bank of Pakistan (NBP) posted profit-after-tax of Rs12.1 billion in the nine months (January-September) of this calendar year, an increase of 107 per cent compared to the same period last year, said a press release on Wednesday.

Pre-tax profit increased by 143pc to Rs18bn for the period under review against Rs7.4bn of the corresponding period last year. While the earnings per share (eps) increased to Rs5.67 against Rs2.74 (restated) of last year.

NBP in third quarter (July-Sept) recorded after-tax-profit of Rs3.9bn, which was again a complete turnaround as compared to Rs97 million profit in the same quarter last year.

Non interest and mark-up income increased by Rs3.9bn or 22pc compared to the corresponding period last year. While fees/commission income registered increase of 6pc despite downward revision in agency commission as lower rate was offset through higher volumes.

The bank capitalised on record high stock exchange index and recorded capital gains of Rs6bn which was higher by Rs2.7bn or 83pc against corresponding period last year. Provision charge against advances has reduced by Rs8.8bn or 73pc mainly on account of better recoveries.

Deposits compared to September 2013, increased by Rs76bn.

However, compared to year end December 2013 advances posted marginal decline of 1.4pc due to seasonal adjustments. The bank is strongly capitalised with capital and reserves of Rs166bn.

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