Karachi: The Board of Directors of Faysal Bank Limited (FBL) has released its financial results for the year ending December 31, 2024. During a meeting held on February 20, 2025, in Karachi, the board approved a final cash dividend of Rs. 2.5 per share, equivalent to 25%. This is in addition to the interim cash dividends declared throughout 2024, comprising 10% for the first quarter, 20% for the second quarter, and 15% for the third quarter.

According to the financial statements, FBL's unconsolidated profit after taxation reached Rs. 23.03 billion, up from Rs. 20.04 billion in the previous year. The basic and diluted earnings per share stood at Rs. 15.17. The bank's total income for the year was reported at Rs. 97.74 billion, an increase from Rs. 83.16 billion in 2023. Total other income climbed to Rs. 17.36 billion from Rs. 12.10 billion, driven by higher fee and commission income, dividend income, and gains on securities.

Operating expenses for the year totaled Rs. 48.68 billion, while the Workers Welfare Fund contribution was Rs. 1.03 billion. The profit before taxation was recorded at Rs. 50.41 billion, with taxation expenses amounting to Rs. 27.38 billion.

According to information available from the Pakistan Stock Exchange (PSX), FBL's consolidated cash flow statement shows that the bank generated net cash from operating activities amounting to Rs. 138.37 billion. This marks a decrease from the previous year's figure of Rs. 152.13 billion. Net cash used in investing activities was reported at Rs. 94.54 billion, while net cash utilized in financing activities totaled Rs. 20.24 billion.

As of December 31, 2024, FBL's cash and cash equivalents stood at Rs. 107.30 billion, an increase from Rs. 83.72 billion at the end of 2023. The bank's Annual General Meeting is scheduled for March 25, 2025, in Karachi, with the share transfer books to be closed from March 19 to March 25, 2025. Transfers received by the close of business on March 18, 2025, will be eligible for the final cash dividend.