Faysal Bank made a profit of Rs3.4 billion in the nine months to September 2015, which translates into a year-on-year rise of 138% in earnings. The unusual rise in the bank’s earnings appears to be a result of heavy capital gains registered in the first three quarters of the year. They amounted to Rs1.7 billion in Jan-Sept, up more than a 1,000% from the comparable period of the last year. Registering heavy capital gains pushed the non-interest income 43% to Rs4.5 billion in the period under review. Net interest income of the bank, meanwhile, increased 7% to Rs10.6 billion. In the third quarter, the bank’s earnings clocked up at Rs794.4 million, up 16% and 18% on a quarterly and annual basis, respectively.
Published in The Express Tribune, October 28th, 2015.
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