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With court orders, NBP pays Rs 49 billion to pensioners

KARACHI: State-run National Bank of Pakistan (NBP) paid Rs49 billion to pensioners under a court’s orders, which cut its net profit by 99% to Rs251 million in the first half of the current calendar year compared to Rs26 billion in the same period last year. In a corporate briefing on Monday, the bank’s management said it aimed to launch credit cards next year after remaining among the top debit card issuers in January-June 2024. The bank, however, has a low advance-to-deposit ratio (ADR) of 37.5%, which could result in an additional tax of up to 16% if the ratio remains