With an increase in assets to more than Rs. 6 trillion, the National Bank of Pakistan became the second bank in the nation’s banking sector to reach this milestone, following Habib Bank Limited.
By the end of 2022, the bank’s total assets had increased to Rs. 6.6 trillion from Rs. 5.2 trillion. In terms of total assets, this makes NBP the biggest bank in Pakistan.
A profit of Rs. 38.2 billion was also reported by the public sector bank, which represents a significant rise of 99.1% over the Rs. 19.2 billion reported during the same period the year before.
The bank’s impressive financial results are a direct result of its ongoing efforts to support the national agenda by providing finance to key industries and increasing access to financial services for underserved populations. According to the released statement, NBP’s results reflect a balance between the bank’s history of serving the country and its emphasis on responsible financial management, which has made the bank a trusted entity among its stakeholders.
By declaring a profit before tax of Rs. 70.6 billion, the bank showed remarkable success; this is a 46 percent YoY growth over its 9MCY22 profit of Rs. 48.3 billion. Both strong revenue stream performance and efficient cost control were the main drivers of these outcomes.
As a result, the closing earnings per share increased from Rs. 9.0 in FY22 to Rs. 17.9. This exceptional success was the consequence of a well-balanced portfolio, sophisticated risk assessment, proficient risk control, and upholding a steady financing source, all of which enhanced and sustained operational performance.
