Timely payments are crucial for people and businesses, BYKEA is committed to fulfilling its obligations to customers through a system known for speed and flawless operations.
The increase in profit is mainly due to growth in the Bank’s deposits which crossed PKR 400 billion resulting in improvement in net interest income and an upswing in fee-based income.
The Scheme is launched to Support employment and prevent layoff of workers, provides concessional payroll financing loans to businesses for wages and salaries, if they commit to not lay off their employees for the loan period.
During the year, JS Bank recorded more than 1 million transactions with total remittance value standing at $738mn against $685mn recorded last year, showing an increase of over 7.7 percent.
JS Bank has been recognized by the State Bank of Pakistan as the best performer under the Rozgar Refinance Scheme, a concessional credit scheme for SME’s that ensure zero job layoffs.
Profitability showed a marked increase primarily due to markup and commission income, FCY income, and gain on sale of securities. The breakup value per share of the Bank as of March 31, 2020, is Rs13.9 with the earnings per share of Rs0.29.