{"id":3699,"date":"2025-02-20T22:26:39","date_gmt":"2025-02-20T17:26:39","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=3699"},"modified":"2025-02-20T22:26:39","modified_gmt":"2025-02-20T17:26:39","slug":"faysal-bank-reports-rs-50-4-billion-profit-before-tax-in-2024","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=3699","title":{"rendered":"Faysal Bank Reports Rs. 50.4 billion Profit before Tax in 2024"},"content":{"rendered":"

Karachi, Pakistan \u2013<\/strong> Faysal Bank Limited (FBL)<\/a> has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank.<\/p>\n

The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion<\/strong>, reflecting a 22% year-on-year increase<\/strong> compared to PKR 41.4 billion in the previous year. Despite additional income tax constraints, net profit grew by 15% to PKR 23.0 billion<\/strong>, while Earnings Per Share (EPS) increased from PKR 13.21 to PKR 15.17<\/strong>.<\/p>\n

In light of its impressive performance, Faysal Bank declared a final cash dividend of PKR 2.5 per share (25%)<\/strong>, bringing the total dividend for 2024 to PKR 7.0 per share (70%)<\/strong>.<\/p>\n

Faysal Bank\u2019s total assets reached PKR 1.6 trillion<\/strong>, with deposits exceeding PKR 1 trillion<\/strong> and net financing standing at PKR 634 billion<\/strong>. The bank maintained a healthy Advance to Deposit Ratio (ADR) of 64.6%<\/strong> and a Capital Adequacy Ratio (CAR) of 16.5%<\/strong>, comfortably surpassing regulatory requirements.<\/p>\n

Expressing his satisfaction with the bank\u2019s performance, Mr. Mian Muhammad Younis, Chairman of Faysal Bank<\/strong>, stated, \u201cMasha\u2019Allah, our results for 2024 reflect the strong foundations we have built as a leading Islamic bank, coupled with the unwavering commitment of the Board, Management, and Employees.\u201d<\/em> He also extended his gratitude to the bank\u2019s customers for their continued trust and partnership<\/a>.<\/p>\n

Mr. Yousaf Hussain, President & CEO of Faysal Bank<\/strong>, commented, \u201cAlhamdulillah, our robust performance in 2024 is a testament to our customer-centric approach, offering innovative Shariah-compliant financial and digital<\/a> products with best-in-class service. With these strong fundamentals, the bank is well-positioned to maintain its growth momentum and operate at maximum potential.\u201d<\/em><\/p>\n

Faysal Bank\u2019s stellar financial performance underscores its solid business fundamentals, prudent risk management, and focus on innovation<\/strong>, reinforcing its position as a key player in the industry dedicated to delivering sustainable growth and value to stakeholders<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi, Pakistan – Faysal Bank Limited (FBL) has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank. The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion, reflecting a 22% year-on-year increase compared to PKR 41.4 billion in the previous year. […]<\/p>\n","protected":false},"author":1,"featured_media":3700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1299],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t