Karachi – JS Bank Limited has continued its trajectory of sustainable growth and innovation, further cementing its position as one of the fastest-growing banks in Pakistan.
For the year 2024, the bank recorded a consolidated Profit Before Tax (PBT) of Rs. 30.7 billion, marking a significant 64% increase compared to Rs. 18.7 billion in 2023. On a standalone basis, the bank reported a PBT of Rs. 6.4 billion for the same period.
The surge in profitability was driven by an 87.2% increase in net markup/interest income, reaching Rs. 73.9 billion compared to Rs. 39.5 billion in the previous year. This growth was attributed to a 67.8% rise in markup/interest earned, amounting to Rs. 221.5 billion, alongside a strategic optimization of the funding pool, which contained the increase in interest expenses at 59% year-on-year (YoY).
JS Bank’s non-markup income also played a crucial role in its performance, rising by 23.3% to Rs. 16.28 billion. Fee and Commission income grew by 52% YoY, reaching Rs. 8.98 billion from Rs. 5.97 billion in 2023. Additionally, the bank reported an exceptional 288.64% increase in gains on securities.
The Earnings per Share (EPS) stood at Rs. 5.03 on a consolidated basis and Rs. 1.39 on a standalone basis. Despite strong financial performance, the consolidated EPS declined by 16.17% from Rs. 6 last year, primarily due to higher taxation.
The bank’s consolidated deposits surpassed Rs. 1.1 trillion, while standalone deposits stood at Rs. 525 billion, further strengthening its financial position.
JS Bank remains committed to sustainable growth and financial innovation, focusing on SME investments, women-empowering products, and Green Financing, including public-driven solar schemes. The bank expanded its branch network by over 120 branches across Pakistan, enhancing customer accessibility and engagement.
With a strong emphasis on value creation, JS Bank continues to contribute to Pakistan’s economic development while delivering sustained benefits to its stakeholders.
