After completing its 75th anniversary year with a commendable achievement of Rs.20.3 billion PBT, BoC has reported Rs.4.4 billion PBT for the 1Q 2015 by achieving a 15% growth over 1Q of the previous year. Profit After Tax (PAT) stood at Rs.3.0 billion resulting 15% growth. The Group reported Rs.4.3 billion PBT resulting in a 10% growth over the corresponding period of the previous year and the Bank dominates the results of the Group accounting for 96% of earnings and 97% of the Group’s assets.
PBT has mainly accelerated due to increased net interest income and fee income. The Bank has been able to achieve lower interest expenses through improved CASA mix (Current Account and Savings Account to total deposits) resulting in a 34% increase in net interest income over 1Q 2014. Net fee and commission income have also increased by 25% to Rs.2.1 billion contributing 14% to total operating income.