Karachi: First Credit and Investment Bank Limited (FCIBL) has reported significant financial growth in its interim financial statements for the nine-month period ending March 31, 2025, despite prevailing challenges in the investment banking sector. The company's financial performance highlights a substantial increase in operating and after-tax profits, alongside strategic business expansions.
During the reported period, FCIBL's total income surged by Rs.173.2 million, reaching Rs.488.7 million compared to Rs.315.5 million in the same period of 2024. The company achieved an operating profit of Rs.40.0 million, a notable rise from the Rs.22.1 million recorded in the previous year. Profit before tax grew by 46%, and profit after tax increased by 63%, demonstrating the company's resilience and strategic growth initiatives.
According to information available from the Pakistan Stock Exchange (PSX), FCIBL re-profiled its investment portfolio and expanded its staff for brokerage and investment banking operations. These efforts contributed to a profit before tax of Rs.57.7 million in the third quarter of FY 2024-25, up from Rs.39.5 million in the corresponding period of the previous year. The after-tax profit for the third quarter was Rs.48.1 million, compared to Rs.29.5 million in the prior year.
The company's shareholders' equity, excluding a deficit on re-measurement of available-for-sale investments, increased to Rs.826.5 million as of March 31, 2025, from Rs.786.9 million on June 30, 2024. However, the total balance sheet footing saw a marginal decrease to Rs.3,705.3 million from Rs.3,955.9 million over the same timeframe. The market value of FCIBL's share improved as the price-to-earnings ratio fell to 9.7 from 17.73 in June 2024, due to an enhanced earnings per share (EPS).
VIS Credit Rating Company Limited reaffirmed FCIBL's medium to long-term rating at 'A' (Single A) and its short-term rating at 'A-2 (A-Two)' in a report dated February 26, 2024, maintaining a stable outlook.
Looking forward, FCIBL plans to leverage the favorable interest rate environment to secure cost-effective loans, optimizing its funding structure and reducing borrowing costs. This strategy aims to support the company's expansion and strengthen its financial position. FCIBL is committed to diversifying its services under the non-banking financial regulatory framework and enhancing its asset quality and infrastructure.
The Board of FCIBL remains focused on expanding core business operations and addressing liquidity challenges, while continuing to uphold its gender diversity policy and integrating environmental considerations into its credit policy. The directors acknowledged the support of stakeholders, regulatory authorities, and the dedication of their management team and employees in achieving these results.