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