The bank demonstrated strategic agility in a normalizing interest rate environment, sharp reduction in cost of funds to 8.8%, disciplined balance-sheet management, and prudent risk controls. NBP operates across multiple segments including Retail Banking, Inclusive Development, Corporate and Investment Banking, Treasury, International Financial Institution and Remittance, and Islamic Banking, serving customers across Pakistan, Asia Pacific, Europe, the US, and Middle East.
Cyborg Score Rationale
NBP reported a 220% increase in after-tax profit to Rs85.9b and pre-tax profit of Rs178.9b (216% increase YoY), demonstrating exceptional earnings momentum. Moody's upgraded NBP's deposit ratings to Caa1 from Caa2, reflecting improved creditworthiness. The record dividend payout signals confidence in sustainable earnings.
Top Insights
Net mark-up/interest income surged 45.4% YoY to Rs248.5b, driven by faster deposit repricing and improved funding mix
Net credit loss allowances of Rs8.0b reflect stable asset quality with benefits from Pakistan's sovereign rating improvements (CCC to B-)
Record 350% final cash dividend reflects confidence in earnings sustainability while optimizing capital without compromising systemic importance
Stock trading at P/E ratio of 6.49 (as of Feb 27, 2026) with 243% one-year return, up 7.99% year-to-date in 2026
Named Competitors
Commercial Banking Services — Major Pakistani commercial bank competitor with strong deposit growth and market presence
Commercial Banking Services — Leading Pakistani bank upgraded by Moody's alongside NBP in February 2026
Commercial Banking Services — Significant competitor in Pakistan's banking sector with diversified retail and corporate services
Recent Developments
(Feb 2026) Announced highest-ever net profit of Rs85.9bn and record 350% cash dividend per share
(Feb 2026) Moody's upgraded NBP deposit ratings to Caa1 from Caa2 and baseline credit assessments from Caa3 to Caa2
(Feb 2026) Outlook on long-term deposit ratings changed to stable from positive
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