Result: Faysal Bank profit flat

Net profit fell by 0.8 per cent to Rs1.19 billion in 2010 from Rs1.2 billion in 2009. No was dividend was announced.

KARACHI:

Faysal Bank’s net profit fell a meagre 0.8 per cent to Rs1.19 billion in 2010 compared with Rs1.2 billion posted in the preceding year, according to a communique sent to the Karachi Stock Exchange on Wednesday.

Bad debts fell three per cent to Rs1.91 billion in 2010 from Rs1.97 billion in 2009 while net interest income rose 16 per cent to Rs5.79 billion. The bank did not announce any dividend with the result.

Published in The Express Tribune, March 31^st, 2011.