JS Bank, a fast-rising Pakistani bank, reported robust financial performance for Q1 2024. Key metrics showcased impressive growth, solidifying their position as a prominent financial institution.
Profit Before Tax (PBT) surged by 144% to Rs. 3.72 billion, while Profit After Tax (PAT) jumped 99% to Rs. 1.71 billion compared to Q1 2023. Earnings per share (EPS) also rose significantly, reaching Rs. 0.83 from Rs. 0.66 in the same period last year.
Consolidated results were even more impressive. Consolidated PBT soared by 494% to Rs. 9.34 billion, and consolidated PAT skyrocketed by 376% to Rs. 4.2 billion year-over-year. This growth reflects the success of JS Bank’s strategic expansion and the 2023 acquisition of BankIslami Pakistan Limited (BIPL).
Another milestone for JS Bank: surpassing half a trillion in deposits in Q1 2024, demonstrating strong customer trust and confidence.
Basir Shamsie, President & CEO, attributed the strong start to sustained growth in profitability and strategic business expansion. He expressed optimism for continued growth throughout the year.
Committed to playing a key role in Pakistan’s economic development, JS Bank intends to offer innovative financial solutions in the years to come. Stay tuned for further updates on their journey of growth and impact.