Karachi, Pakistan – Faysal Bank Limited (FBL) has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank.
The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion, reflecting a 22% year-on-year increase compared to PKR 41.4 billion in the previous year. Despite additional income tax constraints, net profit grew by 15% to PKR 23.0 billion, while Earnings Per Share (EPS) increased from PKR 13.21 to PKR 15.17.
In light of its impressive performance, Faysal Bank declared a final cash dividend of PKR 2.5 per share (25%), bringing the total dividend for 2024 to PKR 7.0 per share (70%).
Faysal Bank’s total assets reached PKR 1.6 trillion, with deposits exceeding PKR 1 trillion and net financing standing at PKR 634 billion. The bank maintained a healthy Advance to Deposit Ratio (ADR) of 64.6% and a Capital Adequacy Ratio (CAR) of 16.5%, comfortably surpassing regulatory requirements.
Expressing his satisfaction with the bank’s performance, Mr. Mian Muhammad Younis, Chairman of Faysal Bank, stated, “Masha’Allah, our results for 2024 reflect the strong foundations we have built as a leading Islamic bank, coupled with the unwavering commitment of the Board, Management, and Employees.” He also extended his gratitude to the bank’s customers for their continued trust and partnership.
Mr. Yousaf Hussain, President & CEO of Faysal Bank, commented, “Alhamdulillah, our robust performance in 2024 is a testament to our customer-centric approach, offering innovative Shariah-compliant financial and digital products with best-in-class service. With these strong fundamentals, the bank is well-positioned to maintain its growth momentum and operate at maximum potential.”
Faysal Bank’s stellar financial performance underscores its solid business fundamentals, prudent risk management, and focus on innovation, reinforcing its position as a key player in the industry dedicated to delivering sustainable growth and value to stakeholders.
