JSBL 9MCY26 profit dips 6%

October 29, 2026 (MLN): JS Bank Limited (PSX: JSBL) reported a 6% decline in its consolidated net profit for the nine months ended September 30, 2026 (9MCY26), falling to Rs5.72bn compared to Rs6.09bn in the corresponding period last year.

Reflecting performance attributable to the parent company, basic and diluted earnings per share (EPS) for the nine-month period expanded 5% to Rs2.38, up from Rs2.26 in 9MCY25.

For the third quarter (Q3CY26) alone, consolidated net profit surged 29% to Rs992.19m (EPS of Rs0.35) compared to Rs769.80m (EPS of Rs0.27) recorded in Q3CY25.

Core banking revenues demonstrated resilience, driven by a 6% increase in net mark-up/interest income to Rs49.83bn compared to Rs47.05bn in 9MCY25.

Mark-up/interest earned fell 6% to Rs105.35bn from Rs112.39bn, while mark-up/interest expense declined 15% to Rs55.52bn from Rs65.34bn.

However, non-mark-up income contracted 26% to Rs13.35bn from Rs18.03bn, heavily weighed down by an 86% plunge in gains on securities to Rs859.83m (down from Rs5.95bn in 9MCY25) and a share of loss from associates of Rs39.38m (against an associate profit of Rs384.32m in 9MCY25), despite higher fee and commission income of Rs9.18bn and foreign exchange income of Rs2.83bn.

Consequently, total income for the nine months fell 3% to Rs63.18bn from Rs65.07bn.

On the operational side, non-mark-up expenses rose 10% to Rs52.34bn compared to Rs47.44bn in 9MCY25.

Operating expenses increased 11% to Rs52.00bn from Rs46.65bn, while Workers' Welfare Fund charges declined 9% to Rs327.12m and other charges stood at Rs15.25m.

Higher overheads and softer total income pushed profit before credit loss allowance down 39% to Rs10.84bn against Rs17.63bn in the comparative period.

The bottom line received substantial relief from credit provisioning, as the bank recorded a net reversal of credit loss allowance and write-offs of Rs2.99bn, compared to a net charge of Rs2.39bn incurred in 9MCY25.

Profit before taxation dropped 9% to Rs13.83bn from Rs15.24bn. Following an 11% decline in taxation expense to Rs8.11bn (down from Rs9.15bn), JS Bank Limited concluded the nine-month period with a consolidated net profit of Rs5.72bn.

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