JS Bank lists Rs2.5 billion TFC

KARACHI: The JS Bank issued its first Perpetual Term Finance Certificate (TFC) which was fully subscribed in less than 4 weeks with a volume of Rs2.5 billion, a statement said on Monday.

This TFC was rated “A” and was also successfully listed on the Pakistan Stock Exchange (PSX). “The successful listing of our first TFC in a very short period of time is indicative of the industry’s confidence in JS Bank’s potential and future outlook,” JS Bank President and CEO Basir Shamsie said. “By issuing this instrument, we will be able to continue our successful journey as one of the fastest growing banks in Pakistan.”

Recognising its role as a catalyst for the economy and the prosperity of the people of Pakistan, JS Bank aspires to continue this journey of impact by providing a variety of conventional and digital financial solutions in the years to come.

The bank recently won the prestigious Asiamoney Award for ‘Best Bank for SMEs’, as well as the award for Best Environmental and Social Governance Bank at the Pakistan Banking Awards. JS Bank also ranks in the top three mortgage providers in Pakistan and is a leading provider of instant loans under the JS Gold Finance product. In the past year alone, the bank has been one of the leading mutual fund distributors in the banking sector, the 2nd largest bank for Prime Minister Youth Business Loans, and the 3rd largest bank in SME lending.