JS Bank closes 9MFY24 with 34pc YoY growth

KARACHI: JS Bank announced its financial results for the nine months ended September 30, 2024. For the nine-month period, the bank posted profit after tax of Rs3.1 billion or 34 per cent growth as compared to the same period last year.

Earnings per share (EPS) stood at Rs1.51 in 9MFY24, as compared to Rs1.63 for the same period last year due to higher weighted average number of shares over the current period.

On a consolidated basis, JS Bank’s profit before tax was reported at Rs24.72 billion, growing by 147 per cent while profit after tax was reported at Rs12.71 billion, reflecting 83 per cent growth, as compared to the same period last year. As a result, the consolidated earnings per share (EPS) rose to Rs4.94 in 9MFY24, as compared to Rs4.74 for the same period last year.

Earlier this year, the bank also crossed half a trillion in total deposits, which stemmed from a strong closing of 2023. On a consolidated basis, JS Bank closed 9MFY24 at a level of Rs1.07 trillion in total deposits.

“At JS Bank, our commitment to growth is based on understanding and meeting the evolving needs of our customers in the best way possible,” said President and CEO of JS Bank Basir Shamsie. “We continue to explore new opportunities to enhance our services, ensuring that every step forward adds real value for those we serve. Our performance reflects our dedication to create lasting impact for all our stakeholders and we thank them for their continued trust and support, as always.” he added.