Lahore: The Board of Directors of The Bank of Punjab has announced an 18% cash dividend for the fiscal year ending December 31, 2024. This decision was made during a board meeting held on February 17, 2025, at the bank’s headquarters in Lahore. The approved dividend translates to Rs. 1.80 per share, rewarding shareholders with a substantial return on their investment.
The financial results for the year 2024, presented during the meeting, indicated a robust performance by the bank. The bank”s total assets rose to Rs. 2.38 trillion, up from Rs. 2.22 trillion in 2023. This growth was primarily driven by a significant increase in investments, which reached Rs. 1.32 trillion compared to Rs. 913.19 billion in the previous year. The bank’s net assets increased to Rs. 92.53 billion, reflecting a healthy financial position.
According to information available from the Pakistan Stock Exchange (PSX), The Bank of Punjab maintained a stable borrowing and deposit base. Borrowings were reported at Rs. 409.01 billion, while deposits and other accounts saw a significant rise to Rs. 1.71 trillion, up from Rs. 1.52 trillion in 2023. The bank”s liabilities also increased to Rs. 2.29 trillion compared to Rs. 2.14 trillion in the previous year.
The bank’s Annual General Meeting is scheduled for March 25, 2025, in Lahore. Shareholders who are registered by March 18, 2025, will be eligible for the dividend. The share transfer books will remain closed from March 19 to March 25, 2025, to facilitate the payout process.
The bank”s standalone and consolidated financial statements, including positions on profit and loss, changes in equity, and cash flows, have been made available in the Annual Report, which will be transmitted through PUCARS at least 21 days before the AGM. The financial statements highlight significant increases in property and equipment assets, which grew to Rs. 28.55 billion, and in the surplus on revaluation of assets, which rose to Rs. 7.95 billion.
Overall, the financial results of The Bank of Punjab for 2024 illustrate a year of solid growth and profitability, underscoring its commitment to delivering value to its shareholders.