Karachi: JS Bank Limited announced its financial results for the third quarter ending September 30, 2024, during a Board of Directors meeting held on October 25, 2024. The bank reported a significant increase in both consolidated and unconsolidated profits compared to the same period last year.
The bank's interim unconsolidated profit and loss statement for the nine months ending September 30, 2024, indicated a net markup/interest income of 19,666.80 million rupees, rising from 14,751.75 million rupees in the previous year. Non-markup/interest income also saw a noticeable increase, reaching 9,785.74 million rupees from 6,920.63 million rupees in 2023. Total income for the period amounted to 29,452.54 million rupees, up from 21,672.38 million rupees the previous year.
According to information available from the Pakistan Stock Exchange (PSX), JS Bank's non-markup/interest expenses totaled 20,049.29 million rupees for the nine months, compared to 15,763.29 million rupees in 2023. Despite higher expenses, the bank's profit before taxation increased to 9,403.25 million rupees from 5,909.09 million rupees. After accounting for taxation, the profit after taxation was reported at 3,100.42 million rupees, compared to 2,320.97 million rupees in the previous year. The earnings per share for this period were recorded at 1.51 rupees, showing a slight decrease from 1.63 rupees in 2023.
The consolidated financial results for the same period highlighted a robust performance with a net markup/interest income of 53,579.36 million rupees, a substantial increase from 19,621.20 million rupees in 2023. Non-markup/interest income rose to 12,761.80 million rupees, up from 7,986.04 million rupees in the same period last year. Total income amounted to 66,341.16 million rupees, compared to 27,607.23 million rupees in 2023.
Non-markup/interest expenses for the consolidated accounts were reported at 37,382.63 million rupees, an increase from 18,430.50 million rupees in the previous year. The bank's profit before taxation for this period was 24,718.86 million rupees, significantly higher than the 9,999.09 million rupees recorded in 2023. After taxation, the profit attributable to equity holders of the bank was reported at 10,123.44 million rupees, compared to 6,735.49 million rupees in the prior year. Earnings per share for the consolidated accounts stood at 4.94 rupees, up from 4.74 rupees in 2023.
The bank's quarterly report for the period ended September 30, 2024, will be transmitted through PUCARS separately within the specified time.