Faysal Bank’s quarterly profit drops by 18%
MG News | April 24, 2025 at 11:54 AM GMT+05:00
April 24, 2025 (MLN): Faysal Bank Limited (PSX: FABL) reported a profit after tax of Rs5.41 billion for the quarter ended March 31, 2025, representing an 18.15% decline compared to Rs6.61bn in the same period last year.
The bank has declared an interim cash dividend of Rs1.5 per share, equivalent to 15% of the face value of Rs10 each.
The bank’s total income stood at Rs23.02bn, down 3.57% from Rs23.87bn in the previous year, as net profit/return also decreased by 8.51% to Rs17.22bn.
Despite this, total other income grew by 14.85%, reaching Rs5.8bn, primarily driven by a 31.64% rise in fee and commission income and an 8.14% increase in foreign exchange income.
However, this growth was offset by declines in dividend income and gains on securities.
Operating expenses rose significantly by 24.71% to Rs13.66bn, contributing to a total expense increase of 23.75%.
The bank’s share of profit from associates also dropped by 53.65% to Rs47.26 million.
A reversal of credit loss allowance and write-offs amounting to Rs2.31bn provided some relief, helping to lift the bank’s profit before taxation to Rs11.49bn, a decrease of 9.63% compared to Rs12.71bn last year.
Taxation remained almost flat at Rs6.08bn, resulting in a profit after taxation of Rs5.41bn.
Earnings per share for the quarter were reported at Rs3.56, compared to Rs4.35 in the corresponding period of 2024.
| CONSOLIDATED PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE QUARTER ENDED MARCH 31, 2025 (Rs. '000) | |||
| Description | Mar-25 | Mar-24 | %Change |
| Profit / return earned | 42,107,331 | 60,425,974 | -30.32% |
| Profit / return expensed | 24,891,971 | 41,608,497 | -40.18% |
| Net profit / return | 17,215,360 | 18,817,477 | -8.51% |
| OTHER INCOME | |||
| Fee and commission income | 3,950,229 | 3,000,836 | 31.64% |
| Dividend income | 35,163 | 70,572 | -50.17% |
| Foreign exchange income | 1,730,862 | 1,600,558 | 8.14% |
| Income / (loss) from derivatives | 15,486 | (17,955) | |
| Gain on securities - net | 46,394 | 227,238 | -79.58% |
| Net loss on derecognition of financial assets (measured at amortised cost) | (83,628) | - | |
| Other income | 110,460 | 172,957 | -36.13% |
| Total other income | 5,804,966 | 5,054,206 | 14.85% |
| Total income | 23,020,326 | 23,871,683 | -3.57% |
| OTHER EXPENSES | |||
| Operating expenses | 13,661,645 | 10,955,015 | 24.71% |
| Workers welfare fund | 226,784 | 264,278 | -14.19% |
| Other charges | 586 | 4,455 | -86.85% |
| Total other expenses | 13,889,015 | 11,223,748 | 23.75% |
| Share of profit of associates | 47,259 | 101,956 | -53.65% |
| Profit before credit loss allowance | 9,178,570 | 12,749,891 | -28.01% |
| (Reversal) / credit loss allowance and write offs - net | (2,310,420) | 36,079 | |
| Extra ordinary / unusual items | - | - | |
| PROFIT BEFORE TAXATION | 11,488,990 | 12,713,812 | -9.63% |
| Taxation | 6,079,505 | 6,104,500 | -0.41% |
| PROFIT AFTER TAXATION | 5,409,485 | 6,609,312 | -18.15% |
| Attributable to: | |||
| Equity holders of the Bank | 5,409,457 | 6,609,302 | -18.15% |
| Non-controlling interest | 28 | 10 | 180.00% |
| Total | 5,409,485 | 6,609,312 | -18.15% |
| Basic / diluted earnings per share (Rs.) | 3.56 | 4.35 | -18.16% |
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