JS Bank Limited announced financial results for the first quarter, 2008. The net income after taxation was Rs.72.30 million as compared to Rs.7.4 million for the same period last year.

Advances have grown at a rate of 40% and stand at Rs.9.03 billion compared to 6.47 billion for the same period last year.

The bank’s deposit base grew to Rs.13.86 billion as compared to Rs.10.09 billion for the same period last year, an increase of 37.

Mr. Naveed Qazi, President and Chief Executive Officer, in commenting on the strong performance of the first quarter stated that the Bank has successfully implemented phase 1 of its T24 project which is the next generation advanced banking system capable of handling the business volumes of the largest and fastest growing banks.