KARACHI: The National Bank of Pakistan (NBP) has reported a total income of Rs96.8 billion for the half year ended on June 30, 2024, a 5.1 per cent increase from Rs92.2bn for the same period last year.
The NBP’s board of directors at a recent meeting approved the institution’s interim condensed financial statements, noting the bank’s performance was particularly stronger during Q2’24 with a total income of Rs54.4bn compared to Rs42.5bn earned during Q1’24.
In a stable interest rate environment, the NBP’s gross interest income surged by 30.1pc year-on-year to close at Rs562.2bn, an increase of Rs130.3bn from Rs432.3bn for the same period in 2023. Its cost of funds also rose by 36.7pc YoY, reaching Rs490.8bn. Consequently, net interest income closed at Rs71.8bn, reflecting a decrease of 2pc YoY.
Published in Dawn, September 1st, 2024
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