BankIslami Pakistan Limited has reported a significant increase in its profit after tax, marking a 137 percent rise to Rs10.61 billion from Rs4.47 billion in the previous year.
This growth is attributed to the robust expansion in its core banking operations, as well as an increase in non-funded income, which collectively propelled the bank’s earnings per share from Rs4.04 in 2022 to Rs9.57.
The bank has also declared an interim cash dividend of Re1 per share for the year ended December 31, 2023, supplementing an earlier dividend of Rs1.75 per share.
This financial upturn is further evidenced by a 100.4 percent jump in profit/return earned, reaching Rs92.76 billion in 2023, up from Rs46.35 billion in the preceding year.
However, the bank did experience an 8 percent decrease in income to Rs3.31 billion, alongside a 24.4 percent increase in fee and commission income to Rs1.8 billion, reflecting its diversified service portfolio and growing customer base.
