JS Bank reports Rs30.7bn profit before tax in 2024

KARACHI: JS Bank Limited posted a consolidated profit before tax (PBT) of Rs30.7 billion for 2024, marking a 64 per cent increase from Rs18.7 billion in 2023. On a standalone basis, PBT stood at Rs6.4 billion.

The bank’s strong performance was driven by an 87.2 per cent surge in net mark-up/interest income, reaching Rs73.9 billion, supported by a 67.8 per cent increase in mark-up/interest earned to Rs221.5 billion. Non-markup income also grew by 23.3 per cent to Rs16.28 billion, with fee and commission income rising 52 per cent YoY to Rs8.98 billion. Gains on securities skyrocketed by 288.64 per cent.

Despite the favourable earnings, the consolidated earnings per share (EPS) declined by 16.17 per cent to Rs5.03 due to higher taxation. On a standalone basis, EPS stood at Rs1.39. JS Bank’s consolidated deposits crossed Rs1.1 trillion, with standalone deposits at Rs525 billion.