The Bank of Punjab hit its lower trading limit today following the release of its financial results. Despite soaring expectations driven by a fourfold increase in its stock price during the third quarter, no dividend was declared for the period.
While the third-quarter earnings were robust, the earnings per share (EPS) stood at Rs. 1.6, marking a 30% rise compared to the average EPS over the past four quarters and a 45% increase year-on-year.
The Credit loss allowance in this quarter was Rs 1764mn.
BOP was recently added to KSE30 Index with 1.5% weightings.