JS Bank earns Rs1.060bn profit in 2014

KARACHI: JS Bank Limited (JSBL) earned Rs1.060 billion in profit-after-tax in 2014, which was a more than 200 percent increase over the preceding year, a statement said.
The bank posted a profit after tax of Rs351.283 million in 2013.
“Given that the bank has shown such robust performance in what has been a difficult time for the local economy, (it) is testament to the prudent management and financial discipline at the bank,” the statement added.
It said the bank’s earnings per share (EPS) rose to Rs0.99 for 2014 from Rs0.33 EPS in 2013.
The bank’s profit before tax was recorded at Rs1.608 billion in 2014 as compared to Rs501.371 million in 2013.
In the last year, its net interest income stood at Rs3.854 billion and non-markup income at Rs2.590 billion.
In 2014, the bank’s deposits peaked to Rs108.740 billion as against Rs80.916 billion in 2013, up 34.4 percent. Gross advances grew 67.1 percent to Rs58.765 billion from Rs35.164 billion.
A fastest growing commercial bank in Pakistan, the statement said JSBL has a large network of 238 branches in 122 cities in the country with plans to expand its outreach with more branches.