Faysal Bank’s quarterly profit drops by 18%

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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