Lahore April 27 2022: Bank of Punjab deposits improved by Rs.15 billion during the first quarter of 2022 on a base of Rs. 1,003 billion at the end of last year.
During 1st quarter of year 2022, Bank’s Net Interest Margin (NIM) improved to Rs. 8.11 billion as against Rs. 6.87 billion during 1st quarter 2021 registering a growth of 18%. Similarly, Non-Markup/ Interest Income (excluding gains on securities) increased to Rs. 1.80 billion as against Rs. 1.27 billion during 1st quarter 2021 showing an increase of 41%. During 1st quarter of the year, the Bank posted after tax profit of Rs. 2.16 billion as against Rs. 1.83 billion earned during 1st quarter of year 2021 with a growth of 18%.
Bank’s Total Assets as at March 31, 2022 improved to Rs. 1,264.3 billion as against Rs. 1,197.0 billion as of December 31, 2021. The Deposits of the Bank also improved to Rs. 1,018.6 billion, while Investments and Gross Advances were recorded at Rs. 596.9 billion and Rs. 553.4 billion, respectively. Equity improved to Rs. 55.9 billion and Capital Adequacy Ratio (CAR), including advance subscription of ADT-1, stood at 12.28% against regulatory requirement of 11.50%.
The Bank has been assigned long term entity rating of “AA+” by M/s PĂCRA with short term rating being at the highest rank of “A1+”. The Bank currently has a network of 664 online branches, including 115 Taqwa Islamic Banking Branches and 16 sub-branches. Further, the Bank has a network of 651 ATMs providing 24/7 banking services to the customers. Besides that, Bank is also offering Branchless Banking, Mobile Banking, Internet Banking and Cash Management services to its clients.
