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NBP’s Q3 profit drops by 75pc

By Our Correspondent
October 31, 2024
A representational image showing NBP board outside a building. — State media/File
A representational image showing NBP board outside a building. — State media/File

KARACHI: The National Bank of Pakistan (NBP) on Wednesday reported a 75 per cent decrease in its third-quarter net profit.

In a statement to the Pakistan Stock Exchange (PSX), the bank reported a net profit of Rs3.091 billion for the quarter that ended September 30, down from Rs12.379 billion during the same period last year.

The bank skipped any payout for this period.

Earnings per share came in at Rs1.39, compared with Rs5.78 last year.

The bank said its interest earned income for the quarter dropped to Rs271.194 billion, compared with Rs296.473 billion during the same quarter a year earlier. Interest expensed income remained at Rs237.638 billion from Rs248.919 billion a year ago. For the nine months that ended September 30, the bank posted the net profit of Rs3.924 billion, down from Rs39.518 billion. EPS for this period was recorded at Rs1.67 from Rs18.49.