Karachi, August 24, 2023: Faysal Bank Limited has unveiled an impressive performance report for the first half of 2023, signaling robust business fundamentals and astute risk management.
As per the official financial report, Faysal Bank reported a remarkable net profit of PKR 7.5 billion, marking an astounding 72 percent surge compared to the same period last year. This extraordinary growth is also reflected in the earnings per share, which leaped from PKR 2.89 to PKR 4.96. Furthermore, the bank has declared an interim cash dividend of Re. 1 per share, constituting 10 percent of the total.
Faysal Bank’s total assets witnessed an impressive 14 percent escalation, reaching a substantial PKR 1.2 trillion, compared to December 2022 figures. This expansion underscores the bank’s robust foundation and its adeptness in seizing opportunities while maintaining prudent risk strategies. The diversified business model, coupled with sound credit policies, played a pivotal role in driving this growth.
The bank’s net advances experienced a significant surge of 15 percent, totaling Rs. 521 billion, reflecting growth across all lending segments. The bank’s Advance-to-Deposit Ratio (ADR) stands strong at 57 percent, highlighting its commitment to fostering economic growth and national development.
Deposits have grown by a substantial 16 percent, amounting to PKR 908 billion, reaffirming the trust and confidence clients place in the bank’s stability and reliability. Current Accounts (CA) have notably increased by 19 percent, reaching PKR 330 billion since December 2022. This not only bolsters the bank’s financial position but also underscores its dedication to meeting evolving customer needs.
