JS Bank Declares Pre-Tax Profits of Rs 1.1 Billion Since June 2018

JS Bank’s equity has risen to PKR 16.7 Billion while its profit before tax stands at PKR 1.1 billion as of June 30th, 2018.

JS Bank remains fully compliant with the Capital Adequacy Requirement (CAR) of the State Bank of Pakistan (SBP) while limiting its non-performing loans (NPL) ratio to less than 2%.

This was informed by JS Bank’s President and CEO, Basir Shamsie in a media engagement event at its Head Office located at Shaheen Complex, Karachi. Attendees included leading journalists from a cross-section of the print and electronic media community.

Speaking on the occasion, Shamsie told that JS Bank’s journey of success had humble beginnings.

“When we took over the operations of American Express Bank in Pakistan, we had just 4 branches with approximately 150 people nationwide. Today we have 322 branches in 160 cities and one international branch in Bahrain, staffed by over 5,000 employees. Our evolution from an investment bank in 2007 to one of Pakistan’s leading consumer, retail, SME, corporate and digital banks is a testament to the Bank’s vision and team.” Shamsie added.

He also claimed how the bank is amongst the top 5 banks in the country when it comes to a variety of customer focused offerings including SME, Home and Auto loans. Considerable efforts are also being made in the sphere of Youth Development, Entrepreneurship Clean Energy and Agriculture lending.

JS Bank is also amongst the top banks in the Prime Minister Youth Business Loan (PMYBL) program. Alliances with leading companies such as Careem, Engro and Nestle have allowed JS Bank to give ordinary people the means to earn a decent livelihood. Other innovative offerings launched include JS Gold Finance where people can just walk into a branch, pledge their gold ornaments and walk out with cash within just 100 minutes.