ISLAMABAD: Faysal Bank Limited (FBL) continued its upward trajectory in 2024, showcasing financial resilience and operational excellence in its second year as a fully-fledged Islamic bank.
For the year ending 2024, FBL reported impressive financial results, with a standalone profit before tax (PBT) of Rs 50.4 billion, marking a 22% increase from Rs 41.4 billion in the previous year.
The Bank’s net profit stood at Rs 23.0 billion, reflecting a 15% growth, though impacted by additional income tax. Earnings per share rose from Rs 13.21 to Rs 15.17. In light of this strong performance, FBL declared a final cash dividend of Rs 2.5 per share (25%), bringing the total dividend for 2024 to Rs 7.0 per share (70%).
Key financial highlights include:
✅ Total assets: Rs 1.6 trillion
✅ Deposits: Over Rs 1 trillion
✅ Net financing: Rs 634 billion
✅ Advance-to-Deposit Ratio (ADR): 64.6%
✅ Capital Adequacy Ratio (CAR): 16.5% (exceeding regulatory requirements)
Leadership Commends Growth and Commitment
Mian Muhammad Younis, Chairman of Faysal Bank, expressed pride in the Bank’s achievements, stating, “Masha’Allah, our 2024 results reflect the strong foundations we have built as a leading Islamic bank, driven by the unwavering commitment of our Board, Management, and Employees.” He also extended gratitude to the Bank’s customers for their trust and partnership.
Yousaf Hussain, President & CEO of Faysal Bank, added, “Alhamdulillah, our strong performance in 2024 is a testament to our customer-centric approach, offering innovative Shariah-compliant financial and digital products with best-in-class service. With these solid fundamentals, the Bank is well-positioned to sustain its growth momentum and maximize its potential.”
Faysal Bank’s continued success reinforces its position as a key player in the Islamic banking sector, paving the way for future expansion and innovation.
