Karachi: JS Bank Limited (JSBL) announced its 2014 result posting a profit after tax of PKR 1,060.039 million in CY14 compared to PKR 351.283 million in CY13. Board of Directors of JS Bank in its meeting held on Tuesday February 24, 2015 approved the audited Financial Statements for the year ended December 31, 2014. Bank’s Earning Per Share (EPS) increased to PKR 0.99 for the year 2014 from PKR 0.33 in CY13. Bank’s Net Interest Income (NII) stood at PKR 3,854.040 million and non-markup income at PKR 2,590.161 million. JS Bank posted a profit before tax of PKR 1,608.225 million in CY14 compared to PKR 501.371 million in CY13.
The balance sheet registered a YoY growth of 56.7% to reach PKR 176,717 million as at December 31, 2014. Deposits increased to PKR 108,740 million as compared to PKR 80,916 million in the previous year, a YoY growth of 34.4%. Gross advances grew to PKR 58,765 million as compared to PKR 35,164 million in the previous year, a YoY growth of 67.1%.
Given that the bank has shown such robust performance in what has been a difficult time for the local economy, is testament to the prudent management and financial discipline at the bank. JS Bank is one of the fastest growing commercial banks in Pakistan, it has a large network of 238 branches across 122 cities of Pakistan with plans to expand its outreach with more branches nationwide.
