KARACHI: JS Bank has achieved the milestone of crossing half trillion rupees deposits by end of March 2024.

During the first quarter of this calendar year, deposits of JS Bank rose by Rs 14 billion to reach over Rs 500 billion in March 2024 up from Rs 486 billion by end of December 2023.

According to Bank, this achievement resulted from sustained momentum stemming from a strong closing of 2023, with the Bank posting a Profit Before Tax of Rs 8.5 billion, a four times growth as compared to the previous year. JS Bank total assets are at Rs 589 billion.

JS Bank also made strides in expanding its digital footprint. The bank digital customer base increased by 46 percent over last year, and 80 percent of the Bank brick-and-mortar branches are now equipped with digital account opening features.

Basir Shamsie President & CEO of JS Bank said that this achievement is because of combined efforts from different verticals including retail, transaction banking, corporate banking, and digital banking groups, and reflects our shared ambition to grow and improve our services.

Copyright Business Recorder, 2024