In a remarkable feat, JS Bank, one of Pakistan’s rapidly expanding financial institutions, has announced its surpassing of Rs500 billion in deposits, marking a significant milestone for the bank.
This achievement comes on the heels of a strong performance in 2023, where the bank reported a substantial Profit Before Tax of Rs8.5 billion, showcasing a remarkable fourfold increase compared to the preceding year. JS Bank’s deposits in 2023 soared to Rs486 billion, while its total assets stood at an impressive Rs589 billion.
The bank has also made notable strides in bolstering its digital footprint, with a 46 percent surge in its digital customer base from the previous year. Moreover, 80 percent of JS Bank’s physical branches now offer digital account opening facilities, underscoring its commitment to embracing digital transformation.
Basir Shamsie, President & CEO of JS Bank, lauded the collective efforts of the bank’s teams in achieving this milestone. He attributed the success to the unwavering dedication of various verticals within the bank, including retail, transaction banking, corporate banking, and digital banking groups, all united in their pursuit of growth and service excellence.
Expressing his views on the accomplishment, Shamsie remarked, “This milestone is a testament to the dedication of our teams in delivering top-quality products and services to our valued customers and partners.” He emphasized JS Bank’s commitment to fostering Pakistan’s prosperity, pledging to continue providing innovative conventional and digital financial solutions to its customers in the future.
JS Bank’s achievement underscores its position as a leading player in Pakistan’s banking sector and reaffirms its commitment to driving positive change and growth in the nation’s economy.
