BankIslami 9M earnings up 20.5pc

KARACHI: BankIslami has posted a remarkable 33.6 per cent increase in its profit before tax for the nine-month ended September 2024. The bank’s profit before tax reached Rs19.9 billion, while its post-tax profit surged to Rs10.2 billion, reflecting a robust 20.5 per cent growth.

A key highlight of this period was the significant rise in non-fund-based income (NFI), which grew by nearly Rs1.3 billion compared to the same period last year.

In response to ongoing economic uncertainty, BankIslami strategically expanded its investment portfolio while prudently optimising its financing portfolio. The investment portfolio reached Rs346.7 billion, while the gross financing portfolio saw a controlled reduction of 21.5 per cent, settling at Rs199.5 billion.

The bank’s deposit portfolio experienced significant growth, rising by 19.5 per cent compared to the period ended September 30, 2023, and by 5.6 per cent compared to December 31, 2023.