News Column

NBP Beats Analysts Expectations by Posting Stellar IHCY 14 Results

September 3, 2014

National Bank of Pakistan, the largest commercial bank in the country, has yet again surpassed analyst expectations by posting stellar half-yearly results for the year 2014. NBP posted Profit After Tax (PAT) of PKR 8.13 Billion, translating into Earnings Per Share (EPS) of PKR 3.82, showing 42% growth in EPS compared to the same period last year.

NBP achieved these results on the back of lower provisioning charges (down PKR 2.5bn from PKR 7.4bn in the same period last year) and greater Non-markup/interest Income (up 19%YoY to PKR15.4bn compared to PKR12.9bn last year). NBP posted 1HCY14 Profit before Tax (PBT) of PKR.12.3 Billion, an increase of 63 % from the corresponding period last year when it stood at PKR. 7.55 Billion.

The Bank's strategy to modernize and invest in product development combined with a high-dividend payout history has convinced analysts to develop a bullish view of its stock, which is currently considered by most as an undervalued scrip. The stock price closed at PKR 57.84/share on the 1st of September 2014, with majority of the analyst community being positive about the company's outlook for the 2nd half of 2014.

National Bank of Pakistan

Corporate Communication Division

Chapel Plaza Building, Mezzanine Floor, Hasrat Mohani Road, Karachi.

Ph: 021-99217913and 021-99217914

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Source: Daily Messenger (Pakistan)

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