NPLs reduce by Rs.7.29bn during Q2
The bank in Q2 2014 recorded after tax profit of Rs. 5 billion which compared to Q1 2014 is 59 per cent higher mainly on account of higher net interest margin and capital gains
According to the central bank of Pakistan, its non-performing loans have started to yield positive results as NPLs reduced by Rs 10.4 billion compared to March 2014 and by Rs 6.2 billion compared to December 2013. The decline in NPLs occurred mainly on the account of better recoveries.
Deposits compared to December 2013, increased by Rs 37.5 billion. Compared to March 2014 deposits show an increase of Rs 121 billion. Compared to year end December 2013 advances show an increase of Rs 4.4 billion mainly due to higher commodity financing. The bank is strongly capitalized with capital and reserves of Rs 160 billion, which translates into break-up value per share of Rs 75.1 per share.