Faysal Bank Limited has made its highest annual profit of over Rs. 8 billion in 2021.
According to the financial results, the bank’s profitability grew handsomely by 25.1 percent in 2021 from the profit of Rs. 6.5 billion it made in 2020. The bank’s profitability is driven by its spread income and various avenues of income. The overall revenue income of the bank reached Rs. 34 billion in 2021. Its earnings per share surged toRs. 5.37.
The board of directors announced the dividend of Rs. 1 per share in addition to Rs. 0.5 per share reported in 2020.
The management of Faysal Bank Limited has converted over 90 percent of its operation from conventional to Islamic banking. With the transformation in operations, the bank stood as the second biggest Islamic bank in Pakistan after Meezan Bank in terms of branches, operations, and profitability.
The bank’s assets and deposits are currently over Rs. 800 billion and Rs. 600 billion respectively.
