Corporate result: NIB Bank operating profit up 96%
Total revenues increased by 27% to Rs2.09 billion, while net interest income increased by 37%
KARACHI:
NIB Bank has announced its financial results for the first quarter of 2015. For the three months ended March 31, 2015, the bank has posted an operating profit of Rs563 million compared to Rs287 million in the same period of last year, an increase of 96%. According to a statement, total revenues increased by 27% to Rs2.09 billion, while net interest income increased by 37%. Additionally, non-funded income increased by 16%. NIB President and CEO Atif R Bokhari said, “These results reaffirm our single-minded focus on revenue and rationalising costs, thus addressing the gap between NIB Bank’s current performance and its true potential given its branch footprint and infrastructure.”
Published in The Express Tribune, April 24th, 2015.
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