BoP declares 32.5pc dividend

Posted on 03.01.07 by StockPK Team @ 2:00 pm    

The board of directors of Bank of Punjab in a meeting on Wednesday announced stock dividend of 32.50 per cent for its shareholders for the year 2006 as the bank earned a pre-tax profit of Rs4.8 billion.

In the meeting, audited accounts were presented to the board, which approved it. The accounts revealed that the bank earned 51 per cent higher profit in 2006 compared to 2005.

It recorded after-tax profit of Rs3.8 billion, which was 62 per cent higher than 2005. Similarly, earning per share was Rs13.14 against Rs8.13 recorded a year earlier.

According to the audited accounts, the bank’s assets on December 31, 2006 stood at Rs165 billion while deposits and advances grew by 56 per cent and 59 per cent to Rs137.7 billion and Rs101.3 billion

Source: The News