JS Bank's 9MFY25 profit declines 52% to Rs6bn

MG News | October 24, 2025 at 12:53 PM GMT+05:00

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October 24, 2025 (MLN): JS Bank Limited (PSX: JSBL) reported a profit after taxation of Rs6.09bn for the nine months ended September 30, 2025, down 52% from Rs12.69bn in the corresponding period last year.

Earnings per share declined 54% to Rs2.26 compared to Rs4.93 in 9MFY24.

Mark-up/return/interest/profit earned decreased 34% year-on-year to Rs112.18bn from Rs169.46bn, reflecting lower yields during the period. Mark-up/return/interest/profit expensed fell 43% to Rs65.34bn from Rs115.44bn.

Net mark-up/interest income contracted 13% to Rs46.84bn against Rs54.02bn in 9MFY24.

Fee, commission and brokerage income increased 35% to Rs8.61bn, while dividend income rose 26% to Rs426.8m from Rs339.5m last year.

Foreign exchange income declined 35% to Rs2.68bn from Rs4.11bn. The bank reported a loss from Shariah compliant alternative of forward foreign exchange contracts of Rs54.7m, which was absent in 9MFY24.

Gain on securities surged 2.4 times to Rs5.95bn from Rs1.76bn in 9MFY24. The bank reported no net gain/(loss) on derecognition of financial assets measured at amortized cost in either period.

Other income declined 4% to Rs220.7m from Rs230.2m.

Total non mark-up/interest income increased 43% to Rs18.24bn from Rs12.76bn last year.

Total income declined 3% to Rs65.07bn from Rs66.78bn in 9MFY24.

Operating expenses increased 26% to Rs46.65bn from Rs37.15bn. Workers' welfare fund declined 34% to Rs358.1m from Rs544.7m. Other charges surged 4.5 times to Rs431.4m from Rs78.3m. Total non mark-up/interest expenses climbed 26% to Rs47.44bn from Rs37.77bn last year.

Profit before credit loss allowance stood at Rs17.63bn, down 39% from Rs29.01bn in 9MFY24.

Credit loss allowance and write offs (net) declined 45% to Rs2.39bn from Rs4.33bn last year. The bank reported no extraordinary/unusual items in either period.

Profit before taxation decreased 38% to Rs15.24bn from Rs24.68bn in 9MFY24.

Taxation declined 24% to Rs9.15bn from Rs11.99bn in the prior period.

The bank concluded 9MFY25 with a net profit of Rs6.09bn, delivering a net profit margin of 9.4% compared to 19.0% in 9MFY24.

The profit decline was driven by compressed net mark-up income and substantially higher operating expenses, partially offset by strong gains on securities, improved share of profit from associates, and robust fee-based income growth.

STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 (Rs.000)
Description	9MFY25	9MFY24	change%
Mark-up / return / interest income
Mark-up / return / interest / profit earned	112,176,681	169,457,051	-34%
Mark-up / return / interest / profit expensed	65,341,462	115,437,941	-43%
Net mark-up / interest income	46,835,219	54,019,110	-13%
NON MARK-UP / INTEREST INCOME
Fee, commission and brokerage income	8,607,236	6,363,501	35%
Dividend income	426,823	339,452	26%
Foreign exchange income	2,683,549	4,113,842	-35%
(Loss) / income from shariah compliant alternative of forward foreign exchange contracts	(54,672)	-
Income / (loss) from derivatives	24,418	(10,042)
Gain on securities - net	5,947,305	1,751,646	240%
Net gain (loss) on derecognition of financial assets measured at amortised cost	-	-
Share of profit / (loss) from associates	384,324	(26,823)
Other income	220,704	230,226	-4%
Total non mark-up / interest income	18,239,687	12,761,802	43%
Total Income	65,074,906	66,780,912	-3%
NON MARK-UP / INTEREST EXPENSES
Operating expenses	46,650,667	37,147,962	26%
Workers' welfare fund	358,092	544,668	-34%
Other charges	431,374	78,258	451%
Total non mark-up / interest expenses	47,440,133	37,770,888	26%
Profit before credit loss allowance	17,634,773	29,010,024	-39%
Credit loss allowance and write offs - net	2,392,693	4,325,283	-45%
Extra ordinary / unusual items	-	-
PROFIT BEFORE TAXATION	15,242,080	24,684,741	-38%
Taxation	9,148,770	11,997,726	-24%
PROFIT AFTER TAXATION	6,093,310	12,687,015	-52%
Earning Per Share	2.26	4.93	-54%

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