Islamabad, Aug 28: One of the top Islamic banks in Pakistan, Faysal Bank Limited (FBL), has reported strong financial results for the six months ended June 30, 2024, and has kept up its rapid development.
In comparison to the same time last year, when the Bank recorded Profit After Tax (PAT) of Rs. 7.5 billion, there was a significant 76.3 percent increase to Rs. 13.3 billion. The rise in earnings per share was from Rs. 4.96 to Rs. 8.74. In light of this impressive achievement, the Bank announced a 20 percent interim cash dividend of Rs. 2/-per share,with deposits reaching Rs. 1.1 trillion and net financing at Rs. 575 billion, Faysal Bank’s total assets were reported to be Rs. 1.4 trillion. At 54%, the bank’s Advance-to-Deposit Ratio (ADR) remained solid.
Its Capital Adequacy Ratio (CAR), which easily beyond regulatory criteria, stood at a strong 18.9 percent. The chairman of Faysal Bank is Mian Muhammad Younis. “Masha’Allah the results for H1’24 reflect the solid foundations we have built as a leading Islamic bank, along with the unwavering commitment of the Board and Management,” the statement said in response to the results. Faysal Bank is well-positioned to maintain its rapid expansion and solidify its position as Pakistan’s top Islamic bank thanks to its solid roots.
“Thank God, our strong financial performance and the strong balance sheet footing is reflective of FBL’s solid business fundamentals coupled with prudent risk management practices,” stated Yousaf Hussain, President and CEO of Faysal Bank. These results show our unwavering commitment to a customer-centric strategy, enhanced by our strong financial and digital products that adhere to Shariah, as well as the caliber of our services. We would like to use this occasion to express our sincere gratitude to the Bank’s clients for choosing FBL as their financial partner of choice.
