JS Bank, recognized as one of the fastest-growing financial institutions in Pakistan, has unveiled its financial results for the first quarter ended March 31, 2025. The Bank posted an impressive unconsolidated Profit Before Tax (PBT) of PKR 2.74 billion, while its Profit After Tax (PAT) amounted to PKR 1.29 billion. Earnings per share (EPS) for the quarter came in at PKR 0.63, compared to PKR 0.84 during the same period last year.
The Bank’s performance is particularly noteworthy in light of the significant reduction in the regulatory policy rate over the past year. Despite this challenge, JS Bank achieved stable and sustained growth in its core earnings, underpinned by strategic improvements in its balance sheet and operational efficiency.
Net interest income climbed by 5% year-on-year, reaching PKR 7.43 billion in Q1 2025. Total revenue for the period stood at PKR 10.61 billion, reflecting a resilient income stream amid macroeconomic pressures. A standout performance was also seen in core fee income, which increased by 19% year-on-year to PKR 1.31 billion. This growth in fee-based income indicates the Bank’s focus on diversifying revenue sources and leveraging customer engagement beyond traditional interest-based earnings.
Key contributors to the Bank’s earnings momentum included an expansion in average non-remunerative deposits and an overall volumetric increase across the balance sheet. Average non-remunerative deposits grew by PKR 22 billion on a year-on-year basis, further strengthening the Bank’s funding base. As of March 31, 2025, JS Bank’s period-end non-remunerative deposits stood at PKR 179.95 billion, making up 34% of the total deposit mix.
Operationally, JS Bank remained disciplined with its cost structure. Operating expenses increased by a moderate 13% year-on-year, which the Bank effectively managed while continuing to invest in growth and innovation. Additionally, the coverage ratio improved to 72.4% from 70.7% at the end of 2024, reflecting prudent risk management practices.
The Bank’s total assets rose to PKR 670 billion, up from PKR 636 billion at the close of the previous year. Customer deposits increased to PKR 534 billion, while the net investment portfolio grew substantially by 19% to reach PKR 361 billion. Net advances were reported at PKR 193 billion, showcasing a cautious yet strategic lending approach that aligns with the Bank’s risk appetite.
On a consolidated basis, the Bank recorded a robust Profit Before Tax of PKR 7.49 billion and a Profit After Tax of PKR 3.10 billion. Consolidated earnings per share stood at PKR 1.18, underscoring a strong group-wide performance.
Commenting on the quarterly results, Basir Shamsie, President & CEO of JS Bank, stated, “Our performance this quarter reflects the strength of our strategy and our continued focus on delivering value to our customers. As we move forward, we’re focused on scaling our impact through innovation, expanding access to financial services, and supporting the country’s economic progress.”
JS Bank’s Q1 2025 performance highlights the resilience and adaptability of its business model, positioning it as a key player in Pakistan’s evolving banking landscape.