The Pak Banker

Faysal Bank records handsome growth of 70pc in 2015 profit

- 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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