NBP proposes 5.5pc cash dividend for 2014

KARACHI: The board of National Bank of Pakistan (NBP) has proposed final cash dividend of Rs5.5 per share (55 per cent) for the year ended Dec 31, 2014. This will be presented for approval in the forthcoming Annual General Meeting (AGM) of the bank.

This translates into 86pc dividend payout of the bank’s distributable profit for 2014 (after statutory reserve allocation) and is the highest in the industry.

Profit-before-tax increased by 211pc at Rs22 billion in 2014, while profit-after-tax increased by 173pc to Rs15bn from Rs5.5bn last year.

It represented a return on average assets (RoA) of 1.1pc, compared to the RoA of 0.4pc in 2013.

Earnings per share stood at Rs7.06 as against Rs2.59 last year, an increase of 173pc.—Staff Reporter

SECP warns public about defunct firms

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Friday advised the public to be prudent while dealing with any company whose registration has been cancelled by the SECP.

The SECP has issued the list of companies which have ceased to exist in the last five years, “So, they are no longer legal entities,” said an SECP statement.

These companies were struck off either on their own choice or their registrations have been cancelled by the registrar, due to their non-operational or dormant status.

The said list, which contains over 6,000 companies is available on the SECP’s website.—APP

Importance of franchising highlighted

KARACHI: Francorp-Pakistan held a seminar on Friday on the importance of franchising in the present-day business environment.

Speaking on the occasion, CEO Anila Haq said one of the main reasons why some businesses fail to grow is that they don’t realise the power of franchising. Francorp helps businesses develop themselves into franchise-able brands.—Staff Reporter

Britain’s Lloyds Banking Group returns to profit

LONDON: Lloyds Banking Group has posted its first annual profit since a 2008 bailout by the British government, edging it closer to a return to full private ownership, results showed on Friday.

LBG recorded a profit after tax of £1.125 billion ($1.74bn) last year compared with a net loss of 838 million in 2013, the bank said in an earnings statement — in a boost also to Prime Minister David Cameron ahead of Britain’s general election in May.

Published in Dawn, February 28th, 2015

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