Faysal Bank records hand­some growth of 70pc in 2015 profit

The Pak Banker - - FRONT PAGE - Muham­mad Yasir

Faysal Bank Lim­ited posted a hand­some growth in profit by 70 per­cent in 2015 as it in­creased to Rs 4.22 bil­lion in the out­go­ing year as com­pared with Rs 2.76 bil­lion reg­is­tered in 2014.

The post-tax profit stand at Rs 6.92 bil­lion whereas it rev­enue earn­ing stood at Rs 18.12 bil­lion in the year 2015. Faysal Bank is the midtier bank de­cided to con­vert its op­er­a­tion in to full-fledged Is­lamic Bank in the next few years how­ever it di­ver­si­fied its port­fo­lio and pen­e­trated its busi­ness in dif­fer­ent sec­tor to reg­is­tered healthy rev­enues and prof­its.

The cor­po­rate bank­ing con­tin­ued to play its role of pro­vid­ing fi­nance to pro­mote eco­nomic ac­tiv­ity in the coun­try. Their fo­cus re­mained on con­sol­i­da­tion of port­fo­lio.

Dur­ing the pe­riod, In­vest­ment Bank­ing man­aged sev­eral high pro­file trans­ac­tions as the bank is lead­ing the ar­range­ment man­date of Rs 12 bil­lion for one of the old­est and largest tele­com oper­a­tors in Pak­istan to sup­port its in­fra­struc­ture ex­pan­sion

The bank has been jointly man­dated by the gas util­ity and dis­tri­bu­tion com­pany op­er­at­ing in the South­ern part of the coun­try to ar­range fi­nanc­ing of Rs 15 bil­lion.

Con­sumer Fi­nance con­tin­ues to build on a growth tra­jec­tory in line with the ob­jec­tive of sell­ing mul­ti­ple prod­ucts at op­ti­mum cost lev­els as the bank fo­cused on key strate­gic ob­jec­tives of fur­ther pen­e­tra­tion into prof­itable seg­ments, con­tin­ued fo­cus on risk man­age­ment, main­te­nance of cost dis­ci­pline and meet­ing the re­quire­ments of reg­u­la­tory en­vi­ron­ment. Credit Card and Car Fi­nance prod­ucts are its strong­est propo­si­tions and we are fo­cused on prod­uct in­no­va­tions to pro­vide one stop shop so­lu­tions to our cus­tomers by con­cen­trat­ing on pay­roll, ac­cord­ing to its fi­nan­cial re­ports.

As part of Barkat Is­lamic Bank­ing's con­tin­ued ef­forts to im­prove the qual­ity of prod­ucts and ser­vices of­fer­ings to cus­tomers.

In ad­di­tion, the bank is also geared to bring en­hanced fo­cus to­wards mu­tual fund in­vest­ment of­fer­ings in or­der to max­i­mize value for clients and pro­vide al­ter­nate av­enues for in­vest­ments in chang­ing mar­ket con­di­tions.

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