NSB Continued to Prove its Resilience within an Economic Shudder

NSB demonstrated its mettle by recording a Profit after Tax (PAT) of 7.2 billion rupees for the fiscal year ended December 31, 2023.

This achievement is a testament to the adept management and highly skilled workforce of NSB.

The Banks’ impressive achievement of 7.2 billion rupees in Profit After Tax (PAT) was mainly attributed to a 31 percent surge in Interest Income. The Bank strategically allocated more than 60 percent of its customer deposits towards investing in Government Debt Securities, capitalizing on the higher interest rates that were prevalent in 2022.

This prudent investment strategy yielded a substantial interest income of 137.7 billion rupees, which was an upswing of 36 percent. Interest received through Loans and Advances also grew by 36.3 percent, resulting in an increment of 23.4 billion rupees.

At the group level, the net gain from trading has increased significantly to 3.7 billion rupees, marking a 206 percent rise from the previous year’s trading loss. The credit for this remarkable turnaround goes to NSB, which has exhibited exceptional professionalism, due care, and commitment in identifying and capitalizing on market opportunities. This achievement underscores NSB’s ability to steer its operations with agility and astuteness, even in the face of a challenging market environment.