Tag: JS Bank

JS Bank’s Half Yearly Profits Skyrocket

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Karachi (Muhammad Yasir)  JS Bank has reported an incredible turnaround in its profitability by posting profit before tax of PKR 1,472 million for the half year ended June 30, 2020 as compared to a loss before tax of PKR 597 million over the corresponding period last year.

The increase in profit is mainly due to a remarkable growth in the Bank’s deposits which crossed PKR 400 billion resulting in improvement in net interest income and an upswing in fee-based income. The break-up value per share of the Bank as of June 30, 2020 was PKR 15.6 with an earnings per share of PKR 0.66 for the half year ended June 30, 2020.

“We have witnessed a significant increase in the half-yearly 2020 profits due to a dedicated focus on business growth and associated income which reflects the trust of our customers and the dedication of our teams.” said Hasan Shahid, Chief Financial Officer, JS Bank.

With the banking industry facing continued challenges due to the economic and financial impact of COVID-19, the Bank’s strategy is based on a continuous process of identifying new opportunities that enable business enhancement. The Bank strives to fulfill customer needs through innovative products and services, strong alliances, and automation of service delivery.

Committed towards its role as a catalyst towards the progress and prosperity of Pakistan, the Bank is continuing its journey of success through shared value creation.

 

SBP Rozgar Scheme – JS Bank Saves More Than 90,000 Jobs

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Lahore (Muhammad Yasir) According to a Press Release dated 27th July issued by the State Bank of Pakistan, JS Bank once again topped the Rozgar Refinance Scheme processing and disbursement which supports the private sector for payment of wages and salaries leading to avoid lay off of employees and prevent unemployment.

The Rozgar Scheme, also known as the Refinance Scheme, to Support Employment and Prevent Layoff of Workers, provides concessional payroll financing loans to businesses for wages and salaries, if they commit to not lay off their employees for the loan period.

Under the scheme, financing of PKR 125.9 billion was approved by banks for 2068 businesses, covering the wages and salaries of over 1.1 million people. Out of this total, the SBP release stated, rankings of banks however, changed within the group except for JS Bank Limited that remained at the top throughout. JS Bank approved approximately 10% of the total amount, saved thousands of jobs, and supported 195 businesses.

Basir Shamsie – President & CEO, JS Bank said “As an institution, we stand by our fellow citizens in their hour of need and are committed to supporting the national economy. We will continue to work with the State Bank of Pakistan for the prosperity of Pakistan.”

Committed towards its role as a catalyst towards the progress and prosperity of Pakistan, the JS Bank hopes to continue this journey of creating value for all stakeholders.

 

Independence Day Celebrations – DG Rangers Inaugurates JS Bank Polo Ground Roundabout

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Lahore (Muhammad Yasir)  Committed to serving the community in which it operates, JS Bank has further added to the beauty of the ‘City of Lights’ through restoration of the Polo Ground Roundabout. The Roundabout was inaugurated by DG Rangers Major General Omer Ahmed Bokhari as part of Pakistan’s 73rd Independence Day celebrations.Senior officials from JS Bank and Pakistan Rangers Headquarters were present at the event.

The Roundabout has been restored as part of the Bank’s commitment to beautify Karachi city through placement of visually pleasing and aesthetically appealing monuments.

Major General Omer Ahmed Bokhari, DG Rangers (Sindh), expressed his appreciation for the role the Bank has been playing as a leading financial institution that is deeply aware of its corporate social responsibility and duly acts upon it. He noted that, Pakistan is our responsibility, and we each need to embrace our role as active members of the society in order for it to grow.

Speaking on the occasion, BasirShamsie, President and CEO JS Bank, stated, “A city as progressive and vital as Karachi deserves our collective efforts to maintain its historic beauty. The restoration of this landmark is our way of giving back to the community and our fellow citizens. I would especially like to thank Major General Omer sahib for his support in making this initiative a success.”

Committed towards its role as a catalyst towards the progress and prosperity of Pakistan, JS Bank continues to bring innovative banking products and services to the people of its country.