This is despite a Rs. 1.1 billion one off gain reported during first quarter last year. Therefore, on an organic business as usual basis, the growth is most impressive at 137%,the bank said yesterday.
Net Interest Income of the Bank increased by 73% to Rs. 6,968 million in first quarter 2015 as compared to Rs. 4,026 million recorded for the first quarter of last year.
Total operating income comprised of net interest income, net gain from trading and financial investments and other income, increased by 21% to Rs. 6,792 million from Rs. 5,635 million recorded in the corresponding period last year. While net operating income increased by 26% to Rs. 6,166 million from Rs. 4,891 million recorded in the first quarter 2014.
Net Interest Margin also improved to 3.56% by end of March 2015 from 2.98% recorded at the end of 2014. Also Return on Average Assets (before tax) increased to 1.52% as at March 31,2015 from 1.46% recorded as at December 31,2014.
The Bank also witnessed a positive change in deposit mobilization mix during the first three months of the year and total mobilization for the period was 6,036 million which consisted of Rs. 5,612 million savings deposits.
Total deposits of the Bank stood at Rs. 558 billion at the end of first quarter, 2015.