Faysal Bank Ltd announces its financial 1HCY11 results

LAHORE: The bank has reported PAT of PKR0.79bn translating into an EPS of PKR1.08 as compared to PAT of PKR1.73bn EPS of PKR2.37 in the same period last year, depicting a substantial decline of 54% YoY.

A massive upsurge of 79% YoY in Administrative expense seems to be the main reason behind the decline in earnings. Moreover, interest expense also showed a growth of 54% YoY because of higher cost of deposits.

On the other hand, augment of 67% in net interest income supported earnings from seeing further plunge. In addition to this, 58% and 30% rise in interest income and noninterest income respectively, and 79% decrease in provisioning expense bode well for the earnings.

The bank provisioned PKR0.13bn in 1HCY11 as against PKR0.60bn in last year.

Leave a Reply