National Bank of Pakistan (NBP) announced 9Mmonths 2020 Financial Result today, where it reported a Net Profit of PKR 26.2billion (EPS: PKR12.28) in 9MCY2020 as compared to PKR16.6billion (EPS: PKR7.80) in the same period last year.
For 3QCY20, Prfot clocked in at PKR5.2/share, 210% increase YoY. Gross yield of the bank improved to 51.7% in 3QCY20 vs. 44.0% in the previous quarter, lending assistance in stabilizing Net Interest income on a sequential basis.
Non funded income contribution in total income was recorded at 23.7%, down 0.5ppt QoQ primarily as fee income undergoes seasonal decline and FX income remaining subpar (down 64.3%QoQ), partially countered by capital gains.
Effective tax rate normalized to 38.0% in 3QCY20 vs. 24.5% in the previous quarter.
| PKR Million | 9M2020 | 9M2019 | YoY |
| Markup Earned | 206,206 | 167,548 | 23.10% |
| Markup Expensed | 126,171 | 113,509 | 11.20% |
| Net Interest Income | 80,035 | 54,039 | 48.10% |
| Non-Interest Income | 28,539 | 26,773 | 6.60% |
| Non-Mark-up Expenses | 46,553 | 42,696 | 9.00% |
| Pre-Provision Profit | 62,020 | 38,116 | 62.70% |
| Provisions | 22,607 | 8,522 | 165.30% |
| PBT | 39,414 | 29,594 | 33.20% |
| Taxation | 13,233 | 12,956 | 2.10% |
| PAT | 26,181 | 16,638 | 57.40% |
| EPS | 12.28 | 7.8 |
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