Faysal Bank’s quarterly profit drops by 18%

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MG News | April 24, 2025 at 11:54 AM GMT+05:00

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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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