“The bank’s net profit reached Rs23 billion and growth was confined to 15% due to the imposition of additional income tax,” the Islamic bank said in a press release.

Earnings per share increased from Rs13.21 to Rs15.17, it said and added that the bank also declared a final cash dividend of Rs2.5 per share, ie 25%. The total dividend for 2024 reached Rs7 per share or 70%. Furthermore, the bank’s total assets stood at Rs1.6 trillion, deposits at more than Rs1 trillion and net financing at Rs634 billion.

Moreover, the bank has an advance-to-deposit ratio of 64.6% and a capital adequacy ratio of 16.5%.

“Masha’Allah, our results for 2024 reflect the strong foundations we have built as a leading Islamic bank, coupled with the unwavering commitment of the board, management and employees,” Mian Muhammad Younis, the Faysal Bank chairman, said.

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He expressed his gratitude to customers for their trust and partnership.

FBL President and CEO Yousaf Hussain also spoke on the same wavelength and hailed its customer-centric approach and “innovative Shariah-compliant financial and digital products with best-in-class service” service.

“With these strong fundamentals, the bank is well-positioned to maintain its growth momentum and operate at maximum potential,” he said.