KARACHI: JS Bank Limited recorded a consolidated Profit Before Tax (PBT) of Rs 30.7 billion for the year 2024 as compared to Rs 18.7 billion for the year 2023, showing a growth of 64 percent. Whereas on a standalone basis, the PBT stood at Rs 6.4 billion for the same year.
The bank’s profitability, based on the consolidated financial statements, was driven by an 87.2 percent surge in net mark-up/interest income, which reached Rs 73.9 billion compared to Rs 39.5 billion last year.
The increase was coupled by a 67.8 percent rise in mark-up/interest earned, amounting to Rs 221.5 billion and optimization of funding pool to contain the increase in interest expense at a level of 59 percent YoY.
Additionally, non-markup income contributed significantly rising by 23.3 percent to Rs 16.28 billion, with Fee and Commission income increase by 52 percent YoY to reach at Rs 8.98 billion (2023: Rs 5.97 billion), and a 288.64 percent increase in gains on securities.
The Earnings per Share (EPS) stood at Rs 5.03, based on consolidated financial statements, and on a standalone basis at Rs 1.39. However, as compared to the last year, the consolidated EPS declined by 16.17 percent to Rs 5.03 from Rs 6, primarily due to the impact of increased taxation.
Moreover, the Bank’s consolidated deposits stood over Rs 1.1 trillion, and on a standalone basis, the deposits were at Rs 525 billion.
JS Bank continues to strengthen its position in the banking sector with a focus on sustainable growth and innovation through its aggressive approach in SME investments, women-empowering products, and Green Financing (including public driven solar schemes). The Bank’s consolidated network expanded by over 120 branches across Pakistan, which has increased touch points for customers.
The Bank is delivering value to its stakeholders and contributing to the sustainable economic development of Pakistan.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.