During the initial three months of 2024, JS Bank recorded significant financial growth. The bank reported a Profit Before Tax (PBT) of Rs. 3.72 billion and a Profit After Tax (PAT) of Rs. 1.71 billion. This marks a remarkable increase of 144% and 99% respectively compared to the same period last year.
The bank’s Earnings per Share (EPS) stood at Rs. 0.83 in the first quarter of 2024, showing a notable improvement from Rs. 0.66 in the corresponding period of the previous year.
In addition to these impressive individual figures, when considering the bank’s overall performance, on a consolidated basis, JS Bank reported a PBT of Rs. 9.34 billion and PAT of Rs. 4.2 billion. This represents a substantial growth of 494% and 376% respectively, when compared to the same period last year.
The remarkable surge in profits can be attributed to the bank’s strategic expansion efforts and the successful acquisition of BankIslami Pakistan Limited (BIPL) in the third quarter of 2023.
Furthermore, JS Bank achieved a significant milestone by crossing half a trillion in deposits by the end of the first quarter of 2024.
