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NBP and Standard Chartered Bank Announce 2011 Financial Results

ISLAMABAD (March 08, 2012) – National Bank of Pakistan (NBP) and Standard Chartered Bank (SCB) have today announced financial results for the year ended December 31, 2011 according to which these banks have posted profits of Rs 17.60 billion and Rs 5.44 billion respectively.

National Bank of Pakistan (NBP) had posted a profit Rs 17.56 billion last year.

A statement issued by NBP said that the bank also recommended a final cash dividend at 75 per cent or Rs 7.50 per share of Rs 10 and it also recommended to issue Bonus shares in proportion of 10 shares for every 100 shares held or 10 per cent.

It also stated that the bank had posted Rs 10.47 earning per share (EPS) for whole year of 2011 against Rs 10.44 in 2010.

Stock Analyst, Zaheer Ahmed told APP that the cash dividend announced by the bank was more than the market was expecting for the whole year.

Meanwhile, Standard Chartered Bank (Pakistan) Limited posted the profit of Rs 5.44 billion for the year ended on December 31,2011, witnessing an increase of 33.82 per cent when compared with Rs 3.60 profit of the last year.

A statement issued by SCB said that the bank had recommended a final cash dividend at 10 per cent or Rs 1 per share of Rs 10 each.

It also stated that the earning per share (EPS) had been increased from Rs 0.93 in 2010 to Rs 1.41 which showed an increase of 34.04 per cent when it was compared with EPS of current year with last year.

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