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NBP profit earning drops by 4.51pc

‘Abnormal’ administrative expenses, NPL provisions of Rs1.068b

Experts demand 3rd party forensic audit as total net assets declined by Rs463m to Rs 179.675b

M J Hayat

LAHORE: National Bank of Pakistan (NBP) profit before taxation has
dropped by 4.51 percent to Rs 35.599 billion in 2017 against the PBT
of Rs 37.141 billion during the same period in calendar years 2017, NBP
annual report indicated.

The report showed that the bank’s net mark-up  and interest income
dropped by Rs 597 million in the year under review against the same
period last CY 2016.

On the other hand the bank has made unusually high provisions of  Rs
1.068 billion against the non-performing loans (NPLs) during the
year 2017 while the provision against the NPLs were very nominal of Rs
685 million during the last CY 2016.

However, the heavy reversal of Rs 1743.543 billion was also realized
by the bank enabling the bank to post a slight profit after tax of Rs
275.702 million which improved the earning per share slightly by 1.21
percent.

Another factor which enabled the Bank to post the slight profit
reduced payment of taxation of Rs 12.571 billion in 2017 against the
taxation of Rs 14.338 billion in 2016.

Moreover, the bank’s interest markup and return expenses have also
escalated while administrative expenses and total non-mark up and
interest expenses have also showed a notable growth, the report
pointed.

The report asserted that the earning per share (EPS) of the bank has
improved equal to nothing by Rs 0.13 which is a thought provoking
element for such the big government bank who has huge businesses
volume as every business of the federal government is done through the
bank.

The bank, therefore, was able to post a profit after tax just of Rs 258
million during CY 2017 while in the same year the bank’s total net
assets have reduced by Rs 463 million.

The NBP’s total net assets, according to the annual report of 2016
were over Rs 180.138 billion while the total net assets declined to Rs
179.675 billion.

The banking sector experts commenting over the performance said that
such the dismal and shameful performance of the major bank like NBP is
surprising.

They are of the view that the bad performance of the bank is due to
the reason that most of the executives have been appointed on the basis
of nepotism and faviourtism by the government recently completed its
tenure.

They said that had the throw professional executive were appointed
in the bank the bank would never have been performing in such the
sluggish way.

They said the sudden abnormal increase in administrative expenses and NPLs provisions of Rs 1.068billion in 2017 against Rs 685 million in 2016 has raised many eyebrows.

Something is wrong in the bottom as such the huge NPLs have been
strategically shown in the book at the time when the PMLN government
has completed its tenure in order to show the upcoming government that
the bank administration has already highlighted the NPLs provision of
Rs1.068billion in the year 2017 and nothing has been swept under the
carpet, they asserted..

They demanded a third party forensic audit of the bank to assert the
actual state of affairs of the bank.

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