Karachi: First Credit and Investment Bank Ltd. released its quarterly report for the period ending September 30, 2026, highlighting mixed performance amid challenging economic conditions. The report, dated October 30, 2026, was presented by the Board of Directors and provides insight into the company's financial health and strategic direction.
The company faced considerable challenges during the quarter, largely influenced by external factors such as the geopolitical situation in the Middle East, which impacted inflation and interest rates in Pakistan. These factors temporarily affected the company's portfolio, although a correction is anticipated in the coming months. Despite these challenges, the company maintained a positive trajectory in its core operations.
During the quarter, First Credit and Investment Bank Ltd. reported total income of Rs.124.10 million, marking an increase of Rs.32.76 million compared to Rs.91.34 million during the same period in 2025. However, the operating profit decreased to Rs.6.30 million from Rs.22.71 million in the previous year. The profit before tax stood at Rs.6.56 million, down from Rs.27.14 million reported for the corresponding period last year.
Furthermore, the company registered an after-tax profit of Rs.2.64 million, a decrease from the Rs.20.26 million posted in the corresponding period of 2025. Shareholders' equity before the deficit on re-measurement of available-for-sale investments increased slightly to Rs.928.82 million by September 30, 2026, up from Rs.926.17 million on June 30, 2026. However, after accounting for the deficit on re-measurement of investments, net equity fell to Rs.858.98 million from Rs.892.56 million as of June 30, 2026. The total balance sheet footing rose to Rs.4.41 billion from Rs.4.36 billion as of June 30, 2026.
According to information available from the Pakistan Stock Exchange (PSX), this performance reflects the company's strategic response to liquidate older investments to profit and reinvest in new opportunities. The management plans to continue a prudent approach, focusing on recoveries and advisory services in light of the current economic environment.
The creditworthiness of First Credit and Investment Bank Ltd. remains stable, with VIS Credit Rating Company Limited reaffirming its short-term rating at A-1 (A-One) and medium to long-term rating at 'A' (Single A) with a 'Stable' outlook as per their report dated June 29, 2026.
The investment banking sector has been notably impacted by the broader economic challenges, but First Credit and Investment Bank Ltd. continues to navigate these with strategic measures aimed at sustaining and growing its business operations.