Contents
Corporate Information 2
Unconsolidated Financial Statements
Directors' Review 4
Independent Auditor's Review Report 14
Condensed Interim Unconsolidated Statement of Financial Position 15
Condensed Interim Unconsolidated Profit and Loss Account 16
Condensed Interim Unconsolidated Statement of Comprehensive Income 17
Condensed Interim Unconsolidated Statement of Changes in Equity 18
Condensed Interim Unconsolidated Cash Flow Statement 19
Notes to and forming part of the Condensed Interim Unconsolidated Financial Statements 20
Consolidated Financial Statements
Directors' Review 50
Condensed Interim Consolidated Statement of Financial Position 59
Condensed Interim Consolidated Profit and Loss Account 60
Condensed Interim Consolidated Statement of Comprehensive Income 61
Condensed Interim Consolidated Statement of Changes in Equity 62
Condensed Interim Consolidated Cash Flow Statement 63
Notes to and forming part of the Condensed Interim Consolidated Financial Statements 64
Corporate Information
Board of DirectorsMian Muhammad Younis Chairman
Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Vice Chairman
Mr. Abdulelah Ebrahim Mohamed AlQasimi Non-Executive Director Mr. Imtiaz Ahmad Pervez Non-Executive Director
Mr. Juma Hasan Ali Abul Non-Executive Director
Mr. Mohamed Ahmed Bucheerei Non-Executive Director
Mr. Ali Munir Independent Director
Ms. Fatima Asad Khan Independent Director
Mr. Mohsin Tariq Independent Director
Ms. Sadia Khan Independent Director
Mr. Yousaf Hussain President & CEO
Board Audit & Corporate Governance CommitteeMr. Ali Munir Chairman
Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Member Mr. Juma Hasan Ali Abul Member
Mr. Mohsin Tariq Member
Board Risk Management CommitteeMr. Imtiaz Ahmad Pervez Chairman
Mr. Abdulelah Ebrahim Mohamed AlQasimi Member
Mr. Ali Munir Member
Mr. Mohamed Ahmed Bucheerei Member
Mr. Yousaf Hussain Member
Recruitment Nomination and Remuneration CommitteeMr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Chairman Ms. Fatima Asad Khan Member
Mr. Juma Hasan Ali Abul Member
Mr. Mohsin Tariq Member
Ms. Sadia Khan Member
Board Strategy CommitteeMian Muhammad Younis Chairman Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery Member Ms. Fatima Asad Khan Member
Mr. Imtiaz Ahmad Pervez Member
Mr. Juma Hasan Ali Abul Member
Mr. Yousaf Hussain Member
Board IT CommitteeMs. Sadia Khan Chairperson
Mr. Abdulelah Ebrahim Mohamed AlQasimi Member
Mr. Mohamed Ahmed Bucheerei Member
Mr. Yousaf Hussain Member
Corporate Information
Board Sustainability & Development CommitteeMian Muhammad Younis Chairman
Mr. Abdulelah Ebrahim Mohamed AlQasimi Member
Ms. Fatima Asad Khan Member
Ms. Sadia Khan Member
Mr. Yousaf Hussain Member
Shariah BoardMufti Muhammad Mohib-ul-Haq Siddiqui Chairperson Shariah Board
Dr. Mufti Khalil Ahmad Aazami Member Shariah Board
Mufti Muhammad Najeeb Khan Member Shariah Board
Dr. Mufti Hassan Ashraf Usmani Member Shariah Board
Mufti Muhammad Uzair Qasim Member Shariah Board
Mufti Abdul Basit Resident Shariah Board Member
Syed Majid Ali Chief Financial Officer Mr. Aurangzeb Amin Company Secretary & Head of Legal M/s. KPMG Taseer Hadi & Co., Chartered Accountants Auditors M/s. Mohsin Tayebaly & Co, Advocate Legal Advisors Registered Office Share RegistrarFaysal Bank Limited CDC Share Registrar Services Limited
Faysal House, St-02, Commercial Lane, CDC House, 99-B, Block-B,
Main Shahrah-e-Faisal, SMCHS, Main Shahrah-e-Faisal,
Karachi, Pakistan Karachi-74400
UAN : (92-21) 111-747-747 Tel : (92-21) 111-111-500
Tel : (92-21) 3279-5200 Fax : (92-21) 34326053
Fax : (92-21) 3279-5226 Email : info@cdcsrsl.com Website : https://www.faysalbank.com
Note: The State Bank of Pakistan has accorded the Fit & Proper approval to the above-mentioned Members of the Board of Directors and accordingly, the said Directors have assumed their responsibilities as the directors.
DIRECTORS' REVIEW
Unconsolidated Financial Statements
On behalf of the Board of Directors, we are pleased to present the unaudited condensed interim financial statements of Faysal Bank Limited ("FBL" or "the Bank") for the half year ended June 30, 2025.
Company ProfileFBL was incorporated in Pakistan on October 03, 1994, as a public limited company and its shares are listed on Pakistan Stock Exchange. FBL offers a wide range of Islamic banking services to all customer segments, i.e., Retail, Small & Medium Sized Enterprises, Commercial, Agri-based, and Corporate.
The Bank surrendered its conventional banking license on 31 December 2022 and effective 01 January 2023 began its fully shariah-compliant operations under an Islamic Banking License issued by the State Bank of Pakistan (SBP). Its footprint spreads over 340 cities across the country with 855 branches offering sharia-compliant banking services.
Holding CompanyIthmaar Bank B.S.C (closed), a banking entity regulated by the Central Bank of Bahrain, is the parent company holding directly and indirectly 66.78% (2024: 66.78%) of the Bank's shares. Ithmaar Bank B.S.C. (closed) is a wholly owned subsidiary of Ithmaar Holdings B.S.C. Dar Al-Maal Al-Islami Trust (DMIT) is the holding entity of Ithmaar Holding B.S.C. and the ultimate parent Company of the Bank. DMIT was formed by an indenture under the laws of the Commonwealth of The Bahamas for the purpose of conducting business affairs in conformity with Islamic laws, principles, and traditions.
Economic UpdatePakistan's economy performed resiliently in the 2nd quarter of 2025 despite mounting geopolitical tensions and spillover impact on international commodities. During the fiscal year ended June 2025, Pakistan achieved a GDP growth of 2.7%. This growth was led by strong performance in the industrial sector which expanded by 4.77% and the services sector grew by 2.91%, supported by improved manufacturing activities and lower interest rates.
However, the agriculture sector faced challenges and due to weak crop yields, grew by only 0.56%. The Large-Scale Manufacturing (LSM) sector continued to face headwinds in Q2 2025 and contracted by 2.86% year-on-year; highlighting the need for targeted industrial support and policy clarity to sustain growth momentum.
Inflation eased to 4.5% for the fiscal year 2025, aided by lower global commodity prices and reduced electricity tariffs. Inflationary pressures remained contained, offering relief to consumers and providing room for continued policy flexibility.
The KSE-100 Index posted a strong performance in Q2 2025, rising by over 6.5% to close at 125,627 points, reflecting improved investor confidence post-budget and on signs of macroeconomic stability.
The fiscal deficit was at 2.4% of GDP during the first three quarters of the fiscal year, indicating prudent fiscal management. Revenue collection showed promising trends, with tax collections increasing by 26% to Rs. 9.1 trillion. Total revenues stood at Rs. 13.4 trillion, reflecting the
government's efforts to enhance revenue generation. Pakistan continued its fiscal consolidation trajectory in last quarter of fiscal year FY25, supported by disciplined spending and improved revenue mobilization.
State Bank of Pakistan's (SBP) reduced policy rate by over 1,000 basis points to 11% in FY2025 and maintained the policy rate in June to balance growth and stability.
A current account surplus of $2.1 billion was recorded in FY25, driven by robust remittance inflows and stronger exports. Remittances have played a vital role in supporting the external account, highlighting the importance of diaspora contributions to the economy.
Pakistan's economy continues to show signs of cautious recovery. However, external vulnerabilities including widening trade deficit and global uncertainties pose risks. Going forward, sustaining momentum will depend on consistent policies, foreign inflows, and structural reforms. If inflation remains contained and external buffers are preserved, broader and more inclusive growth may follow.
Bank's PerformanceA detailed review of the Bank's performance is given in the following paragraphs:
Financial Performance Key Balance Sheet Numbers 30 June '25 31 December '24 Growth %PKR in million
Investment | 701,039 | 677,372 | 3.5 |
Financing | 719,395 | 633,910 | 13.5 |
Total Assets | 1,678,909 | 1,562,668 | 7.4 |
Deposits | 1,243,569 | 1,044,279 | 19.1 |
H1 | H1 | ||
Profit & Loss Account | June '25 | June '24 | Growth % |
PKR in million
Total Revenue | 45,025 | 47,442 | (5.1) |
Total Expenses | (26,681) | (22,417) | 19.0 |
Profit before tax and provisions | 18,344 | 25,025 | (26.7) |
Net provision reversal | 3,510 | 801 | 338.0 |
Profit before tax | 21,854 | 25,826 | (15.4) |
Tax | (11,848) | (12,560) | (5.7) |
Profit after tax | 10,006 | 13,266 | (24.6) |
Earnings per share (Rupees) | 6.59 | 8.74 | (24.6) |
Gain on equity securities directly realized in equity (net of tax) | 882 | 239 | 269.0 |
On a standalone basis, Profit Before Tax (PBT) is at PKR 21.9 billion, reflecting resilient performance despite a challenging macro-economic environment. Profit After Tax (PAT) stood at PKR 10 billion, impacted by an increase in the tax rate from 49% to 53%. Earnings Per Share decreased from PKR 8.74 to PKR 6.59.
Total revenue stood at PKR 45 billion in H1'25, while this represents a decline of 5.1% over H1'24, it also reflects the Bank's ability to maintain strong topline momentum despite a sharp reduction in policy rates and introduction of Minimum Deposit Rate (MDR) on savings deposits effective January 1, 2025. Net spreads earned were PKR 34.4 billion, with the impact of margin compression partially offset by strong growth in current deposits, which increased by PKR 151 billion (39.6%) YoY.
Non-fund income remained a key source of revenue, growing by 17.9% over the same period last year and is at PKR 10.6 billion in H1'25. Fee income has a robust growth of 26.0%, reaching PKR 6.5 billion, while foreign exchange income remained resilient, growing by 32.7%, to PKR 3.7 billion. Additionally, the Bank realized gain (net of tax) of PKR 0.9 billion on equity securities booked in equity during H1'25, compared to PKR 0.2 billion in H1'24.
The Bank's total expenses increased by 19% over H1'24, driven by inflation and the full year impact of an expanded branch network. There is, however, a net reversal of PKR 3.5 billion in provisions compared to PKR 0.8 billion in H1'24. Asset quality continued to improve with the NPL ratio declining to 3.0% as compared to 3.6% as at Dec'24. The total coverage stands at 97.3%.
FBL's total assets continued to grow, reaching PKR 1.7 trillion, driven by strong deposit mobilization. The upward trend in Current Accounts seen over the past few years continued, taking them to PKR 532 billion i.e. 30.4% growth over December 2024. Total deposits also increased by 19.1% over December 2024 and are at PKR 1.2 trillion. Current Account (CA) mix improved to 42.8% from 39.1% in December 2024 and CASA ratio improved to 88.5% from 85.5%. FBL's net financing increased by 13.5% to PKR 719 billion and ADR moderated to 57.8% as at Jun'25 from 60.7% at Dec'24. Investments increased by 3.5% and reached PKR 701 billion.
OutlookLooking ahead, we are cognizant of the intense competition and spreads compression due to decline in the policy rate and introduction of Minimum Deposit Rate (MDR) on saving accounts of Islamic banks. Despite these emerging challenges, we are confident that, through FBL's prudent financial management and strategic foresight, the Bank will, Insha'Allah, continue to navigate the evolving environment effectively and sustain its growth trajectory.
As part of our strategic vision, we are committed to expanding our branch network to strengthen deposit mobilization and improve customer reach. Simultaneously, we are focusing on improving customer experience through streamlining processes and investing in digital solutions that will elevate our digital offerings and enrich overall customer experience.
In line with our focus on long-term sustainability, we will continue to invest in our workforce, fostering an environment that upholds our core values of Faith, Integrity, Teamwork, Innovation, and Care. Our sustainability agenda also includes minimizing our environmental impact and making meaningful contributions to the communities we serve. By prioritizing these principles, we aim to strengthen our position in the market and serve the evolving needs of our customers.
Credit Rating:VIS Credit Rating Company Limited (VIS) has upgraded the entity rating, while Pakistan Credit Rating Agency Limited (PACRA) have re-affirmed the rating as follows:
VIS | PACRA | |
Long Term | AA+ | AA |
Short Term | A1+ | A1+ |
VIS has assigned a 'Stable' outlook, while PACRA has upgraded the outlook to 'Positive'.
DividendThe Board of Directors, in their meeting held on August 28, 2025, declared an interim cash dividend of Rs 1.5 per share (15%). This is an addition to Rs 1.5 per share already paid during the period bringing the total dividend for the period to Rs 3.0 per share (June' 24 : Rs 3.0).
Heartfelt Thanks: Acknowledging Our Pillars of StrengthOn behalf of the Board and the Management, we extend gratitude to our esteemed shareholders for their unwavering support. We are indebted to our customers for their continuous confidence and trust. We also would like to place on record our appreciation for the Government of Pakistan, the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan for their continued support and guidance and for developing and strengthening the banking and financial services sector through continuous improvement in the regulatory and governance framework.
As always, we would also like to express sincere appreciation for the Shariah Board. We would also like to take this opportunity to recognize and commend the unwavering commitment and exceptional efforts extended by our employees in driving the growth of FBL. We extend our heartfelt thanks to them for their relentless dedication and hard work.
ApprovalIn compliance with the requirement of the Companies Act, 2017, this Directors' Report with the recommendations of the Board Audit and Corporate Governance Committee has been approved by the Directors in their meeting held on August 28, 2025 and signed by the Chief Executive Officer and Chairman.
President & CEO Chairman
Karachi
Dated: August 28, 2025
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INDEPENDENT AUDITOR'S REVIEW REPORT
To the members of Faysal Bank Limited Report on review of Condensed Interim Unconsolidated Financial StatementsIntroduction
We have reviewed the accompanying condensed interim unconsolidated statement of financial position of Faysal Bank Limited ("the Bank") as at 30 June 2025 and the related condensed interim unconsolidated profit and loss account and condensed interim unconsolidated statement of comprehensive income, condensed interim unconsolidated statement of changes in equity, and condensed interim unconsolidated cashflow statement and notes to the condensed interim unconsolidated financial statements for the half year then ended (here-in-after referred to as the "interim financial statements"). Management is responsible for the preparation and presentation of these interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting.
Our responsibility is to express a conclusion on these interim financial statements based on our review.
Scope of Review
We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial statements is not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.
Other Matter
Pursuant to the requirement of Section 237 (1) (b) of the Companies Act, 2017, only cumulative figures for the half year, presented in the second quarter accounts are subject to a limited scope review by the statutory auditors of the Bank. Accordingly, the figures of the condensed interim unconsolidated profit and loss account and condensed interim unconsolidated statement of comprehensive income for the quarter ended 30 June 2025 have not been reviewed by us.
The engagement partner on the engagement resulting in this independent auditor's review report is Zeeshan Rashid.
Dated: 29 August 2025
Karachi
UDIN: RR202510188KxPMzib0h
KPMG Taseer Hadi & Co.
Chartered Accountants
Condensed Interim Unconsolidated Statement of Financial Position
As at June 30, 2025
Note
(Un-audited) (Audited) June 30, December 31, 2025 2024ASSETS | ||||
Cash and balances with treasury banks | 9 | 95,979,411 | 102,537,577 | |
Balances with other banks | 10 | 1,310,917 | 5,539,464 | |
Due from financial institutions | 11 | 3,499,999 | - | |
Investments | 12 | 701,038,857 | 677,372,396 | |
Islamic financing and related assets | 13 | 719,394,780 | 633,909,548 | |
Property and equipment | 14 | 49,581,528 | 44,711,052 | |
Right-of-use assets | 15 | 13,797,872 | 13,289,601 | |
Intangible assets Deferred tax assets Other assets | 16 17 | 2,489,486 -91,815,956 | 2,600,358 -82,707,643 | |
1,678,908,806 | 1,562,667,639 | |||
LIABILITIES | ||||
Bills payable | 18 | 32,140,484 | 39,169,649 | |
Due to financial institutions | 19 | 210,823,376 | 280,442,540 | |
Deposits and other accounts | 20 | 1,243,569,054 | 1,044,278,507 | |
Lease liabilities Subordinated sukuk Deferred tax liabilities | 21 22 | 16,675,788 -7,906,018 | 15,546,893 -12,983,960 | |
Other liabilities | 23 | 57,465,787 | 61,884,721 | |
1,568,580,507 | 1,454,306,270 | |||
NET ASSETS | 110,328,299 | 108,361,369 | ||
REPRESENTED BY | ||||
Share capital | 15,176,965 | 15,176,965 | ||
Reserves | 18,851,623 | 17,866,357 | ||
Surplus on revaluation of assets - net of tax | 24 | 19,886,741 | 22,771,883 | |
Unappropriated profit | 56,412,970 | 52,546,164 | ||
110,328,299 | 108,361,369 | |||
CONTINGENCIES AND COMMITMENTS | 25 | |||
Rupees in '000
The annexed notes 1 to 43 form an integral part of these condensed interim unconsolidated financial statements.
Condensed Interim Unconsolidated Statement of Profit and Loss Account (Un-audited)
For the half year ended June 30, 2025
Quarter ended Half year ended Note June 30, June 30, June 30, June 30,
2025 2024 2025 2024(Restated) (Restated)
41,878,783 | 59,796,010 |
24,656,469 | 40,145,209 |
17,222,314 | 19,650,801 |
3,384,094 | 2,567,262 |
200,247 | 189,837 |
1,969,367 | 1,178,448 |
(21,657) | 12,008 |
171,528 | 332,824 |
(81,628) | (165,256) |
37,214 | 142,119 |
5,659,165 | 4,257,242 |
22,881,479 | 23,908,043 |
13,118,234 | 11,091,215 |
217,582 | 268,896 |
3,648 | 32,442 |
13,339,464 | 11,392,553 |
9,542,015 | 12,515,490 |
(1,199,521) | (833,449) |
- | - |
10,741,536 | 13,348,939 |
5,882,641 | 6,595,435 |
4,858,895 | 6,753,504 |
Rupees in '000
Profit / return earned 27
Profit / return expensed 28
Net profit / return
OTHER INCOMEFee and commission income 29
Dividend income
Foreign exchange income (Loss) / income from derivatives
Gain on securities - net 30
Net loss on derecognition of financial assets
measured at amortised cost 17.1
Other income 31
Total other income Total income OTHER EXPENSES
Operating expenses 32
Workers welfare fund
Other charges 33
Total other expenses
Profit before credit loss allowance
Reversal of credit loss allowance and write offs - net 34
Extra ordinary / unusual items
PROFIT BEFORE TAXATIONTaxation 35
4.45
6.59
PROFIT AFTER TAXATION120,220,722
83,965,732 49,548,552 34,417,180 |
6,480,927 235,410 3,686,406 (6,171) 222,129 (165,256) 154,691 |
10,608,136 |
45,025,316 |
26,232,698 444,366 4,234 |
26,681,298 |
18,344,018 (3,509,941) - |
21,853,959 11,847,745 |
10,006,214 |
81,777,697 38,443,025
5,141,782
260,409
2,779,006
(5,947)
667,927
(165,256)
321,158
8,999,079
47,442,104
21,853,028
527,063
36,897
22,416,988
25,025,116
(801,341)
-25,826,457
12,560,112
13,266,345
3.20
Rupees
8.74
The annexed notes 1 to 43 form an integral part of these condensed interim unconsolidated financial statements.
Condensed Interim Unconsolidated Statement of Comprehensive Income (Un-audited)
For the half year ended June 30, 2025
Quarter ended Half year ended June 30, June 30, June 30, June 30,
2025 2024 2025 2024Rupees in '000
Profit after taxation for the period
Other comprehensive income / (loss)Items that may be reclassified to the profit and loss account in subsequent periods:
Movement in surplus / (deficit) on revaluation of debt investments through FVOCI - net of tax
Items that will not be reclassified to the profit and loss account in subsequent periods:
Movement in surplus / (deficit) on revaluation of equity investments - net of tax
Movement in surplus on revaluation of property and equipment - net of tax
Movement in deficit on revaluation of non-banking assets - net of tax
Total comprehensive income6,753,504
4,858,895 1,883,437 |
371 522 (317,140) |
(316,247) |
6,426,085 |
(572,328)
(23,895)
-
-
(23,895)
6,157,281
13,266,345
10,006,214 (2,403,436) |
(150,293) 40,059 (316,820) |
(427,054) |
7,175,724 |
(1,285,048)
201,352
-
-
201,352
12,182,649
The annexed notes 1 to 43 form an integral part of these condensed interim unconsolidated financial statements.
Condensed Interim Unconsolidated Statement of Changes in Equity
For the half year ended June 30, 2025
Share capital | Reserves | Surplus / (deficit) on revaluation of | Unappropriated profit | Total | ||||||
Capital reserves | Statutory reserve | Total | ||||||||
Share premium | Non-distri-butable capital reserve (NCR) - gain on bargain purchase | Reserve arising on amalgamation | Investments | Property and equipment / non- banking assets | Total | |||||
- - | - - | - - | - - | - - | - - | 201,352 (1,285,048) | - - | 201,352 (1,285,048) | - - | 201,352 (1,285,048) |
- | - | - | - | - | - | 7,528,643 | - | 7,528,643 | - | 7,528,643 |
- | - | - | - | - | - | 2,578,199 | - | 2,578,199 | - | 2,578,199 |
- | - | - | - | - | - | - | - | - | (44,500) | (44,500) |
- | - | - | - | - | - | - | (170,430) | (170,430) | - | (170,430) |
- | - | - | - | - | - | - | (1,824) | (1,824) | - | (1,824) |
Rupees in '000
Balance as at December 31, 2023 | 15,176,965 | 10,131 | 188,301 | 23,952 | 15,393,804 | 15,616,188 | 3,349,029 11,802,042 15,151,071 44,254,137 90,198,361 | ||||
Impact of adopting IFRS 9 as at January 1, 2024 - net of tax | - | - | - | - | - | - | (895,105) - (895,105) (2,858,792) (3,753,897) | ||||
Restated balance as at January 1, 2024 (Audited) | 15,176,965 | 10,131 | 188,301 | 23,952 | 15,393,804 | 15,616,188 | 2,453,924 11,802,042 14,255,966 41,395,345 86,444,464 | ||||
Profit after taxation for the half year ended June 30, 2024 | - | - | - | - | - | - | - - - 13,266,345 13,266,345 | ||||
Other comprehensive (loss) / income | |||||||||||
Movement in surplus on revaluation of | |||||||||||
investments - net of tax | |||||||||||
Movement in deficit on revaluation of non-banking | |||||||||||
assets - net of tax | |||||||||||
Total other comprehensive loss - net of tax - | - | - | - | - | - | (1,083,696) - (1,083,696) - (1,083,696) | |||||
Gain on sale of equity instruments classified | |||||||||||
as FVOCI - net of tax | - | - | - | - - | - | (238,609) | - | (238,609) 238,609 | - | ||
Transfer to statutory reserve | - | - | - | - 1,326,634 | 1,326,634 | - | - | - (1,326,634) | - | ||
Transfer from surplus on revaluation of property and | |||||||||||
equipment to unappropriated profit - net of tax | - | - | - | - - | - | - | (71,873) | (71,873) 71,873 | - | ||
Amortisation of intangible assets - customer | |||||||||||
relationship - net of tax | - | - | (20,943) | - | - | (20,943) | - | - | - | - (20,943) | |
Transaction with owners, recorded directly in equity | |||||||||||
Final cash dividend declared on February 7, 2024 | |||||||||||
at Rs 2 per share | - | - | - | - | - | - | - | - | - | (3,035,394) (3,035,394) | |
First interim cash dividend declared on April 25, 2024 | |||||||||||
at Re 1 per share | - | - | - | - | - | - | - | - | - | (1,517,697) (1,517,697) | |
Restated balance as at June 30, 2024 (Un-audited) | 15,176,965 | 10,131 | 167,358 | 23,952 | 16,720,438 | 16,921,879 | 1,131,619 | 11,730,169 | 12,861,788 | 49,092,447 94,053,079 | |
Profit after taxation for the six months period | |||||||||||
ended December 31, 2024 | - | - | - | - | - | - | - | - | - | 9,761,848 9,761,848 | |
Other comprehensive income / (loss) | |||||||||||
Movement in surplus on revaluation of debt | |||||||||||
investments through FVOCI - net of tax | |||||||||||
Movement in surplus on revaluation of equity | |||||||||||
investments through FVOCI - net of tax | |||||||||||
Remeasurement loss on defined benefit | |||||||||||
obligations - net of tax | |||||||||||
Movement in deficit on revaluation of property and | |||||||||||
equipment - net of tax | |||||||||||
Movement in deficit on revaluation of non-banking | |||||||||||
assets - net of tax | |||||||||||
Total other comprehensive income / (loss) - net of tax | - | - | - | - | - | - | 10,106,842 | (172,254) | 9,934,588 | (44,500) 9,890,088 | |
Gain on sale of equity instruments classified | |||||||||||
as FVOCI - net of tax | - | - | - | - - | - | 29,761 | - 29,761 | (29,761) | - | ||
Transfer to statutory reserve | - | - | - | - 976,185 | 976,185 | - | - - | (976,185) | - | ||
Transfer from surplus on revaluation of property and | |||||||||||
equipment to unappropriated profit - net of tax | - | - | - | - | - | - | - | (54,254) | (54,254) | 54,254 - | |
Amortisation of intangible assets - customer | |||||||||||
relationship - net of tax | - | - | (31,707) | - | - | (31,707) | - | - | - | - (31,707) | |
Transaction with owners, recorded directly in equity | |||||||||||
Second interim cash dividend declared on August 28, 2024 | |||||||||||
at Rs 2 per share | - | - | - | - | - | - | - | - | - | (3,035,394) (3,035,394) | |
Third interim cash dividend declared on October 24, 2024 | |||||||||||
at Rs 1.5 per share | - | - | - | - | - | - | - | - | - | (2,276,545) (2,276,545) | |
Balance as at December 31, 2024 (Audited) | 15,176,965 | 10,131 | 135,651 | 23,952 | 17,696,623 | 17,866,357 | 11,268,222 | 11,503,661 | 22,771,883 | 52,546,164 108,361,369 | |
Impact of adopting IFRS 9 as at January 1, 2025 - net of tax | |||||||||||
Restated balance as at January 1 , 2025 | |||||||||||
Profit after taxation for the half year ended June 30, 2025 | |||||||||||
Other comprehensive income / (loss) | |||||||||||
Movement in deficit on revaluation of debt | |||||||||||
investments through FVOCI - net of tax | |||||||||||
Movement in surplus on revaluation of equity | |||||||||||
investments through FVOCI - net of tax | |||||||||||
Movement in surplus on revaluation of property and | |||||||||||
equipment - net of tax | |||||||||||
Movement in surplus on revaluation of non-banking | |||||||||||
assets - net of tax | |||||||||||
Total other comprehensive loss - net of tax | |||||||||||
Gain on sale of equity instruments classified | |||||||||||
as FVOCI - net of tax | |||||||||||
Transfer to statutory reserve | |||||||||||
Transfer from surplus on revaluation of property and | |||||||||||
equipment to unappropriated profit - net of tax | |||||||||||
Amortisation of intangible assets - customer | |||||||||||
relationship - net of tax | |||||||||||
Transaction with owners, recorded directly in equity | |||||||||||
Final cash dividend declared on February 20, 2025 | |||||||||||
at Rs 2.5 per share | |||||||||||
First interim cash dividend declared on April 24, 2025 | |||||||||||
at Rs 1.5 per share | |||||||||||
Balance as at June 30, 2025 (Un-audited) | |||||||||||
- | - | - | - | - | - | 877,347 | - | 877,347 | - | 877,347 |
15,176,965 - | 10,131 - | 135,651 - | 23,952 - | 17,696,623 - | 17,866,357 - | 12,145,569 - | 11,503,661 - | 23,649,230 - | 52,546,164 10,006,214 | 109,238,716 10,006,214 |
- | - | - | - | - | - | (2,403,436) | - | (2,403,436) | - | (2,403,436) |
- | - | - | - | - | - | (150,293) | - | (150,293) | - | (150,293) |
- | - | - | - | - | - | - | 40,059 | 40,059 | - | 40,059 |
- | - | - | - | - | - | - | (316,820) | (316,820) | - | (316,820) |
- | - | - | - | - | - | (2,553,729) | (276,761) | (2,830,490) | - | (2,830,490) |
- | - | - | - | - | - | (881,942) | - | (881,942) | 881,942 | - |
- | - | - | - | 1,000,621 | 1,000,621 | - | - | - | (1,000,621) | - |
- | - | - | - | - | - | - | (50,057) | (50,057) | 50,057 | - |
- | - | (15,355) | - | - | (15,355) | - | - | - | - | (15,355) |
- | - | - | - | - | - | - | - | - | (3,794,241) | (3,794,241) |
(2,276,545) | (2,276,545) | |||||||||
15,176,965 | 10,131 | 120,296 | 23,952 | 18,697,244 | 18,851,623 | 8,709,898 | 11,176,843 | 19,886,741 | 56,412,970 | 110,328,299 |
The annexed notes 1 to 43 form an integral part of these condensed interim unconsolidated financial statements.
Condensed Interim Unconsolidated Cash Flow Statement (Un-audited)
21,853,959 (235,410) |
21,618,549 |
(34,417,180) 2,344,918 1,213,235 1,185 291,298 444,366 (3,509,941) 165,256 (17,860) (16,830) 276,385 6,171 |
(33,218,997) |
(11,600,448) |
(3,500,000) 1,637,961 (82,917,609) (16,417,408) |
(101,197,056) |
(7,029,165) (69,619,164) 199,290,547 (2,172,978) |
120,469,240 (12,031,984) 87,337,861 (48,829,427) (370,912) |
33,777,274 |
2,081,127 (31,818,339) - -204,144 (7,477,730) (218,443) 276,837 |
(36,952,404) |
(1,633,332) (5,978,251) |
(7,611,583) |
(10,786,713) |
108,550,258 (473,217) |
108,077,041 |
97,290,328 |
For the half year ended June 30, 2025
Note | June 30, June 30, 2025 2024 | ||
Rupees in '000 | |||
CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation | 25,826,457 | ||
Less: dividend income | (260,409) | ||
25,566,048 | |||
Adjustments: | |||
Net profit / return income | (38,443,025) | ||
Depreciation on owned property and equipment | 32 | 1,425,280 | |
Depreciation on right-of-use assets | 32 | 996,712 | |
Depreciation on non-banking assets | 32 | 1,378 | |
Amortisation of intangible assets | 32 | 200,748 | |
Workers welfare fund | 527,063 | ||
Reversal of credit loss allowance and write offs - net | 34 | (801,341) | |
Net loss on derecognition of financial assets measured at amortised cost | 17.1 | 165,256 | |
Gain on sale of property and equipment - net | 31 | (10,510) | |
Gain on termination of leases (IFRS 16) | 31 | (47,140) | |
Charge for defined benefit plan | 176,694 | ||
Loss from derivative contracts | 5,947 | ||
(35,802,938) | |||
(10,236,890) | |||
(Increase) / decrease in operating assets | |||
Due from financial institutions | - | ||
Securities classified as FVTPL | 2,852,232 | ||
Islamic financing and related assets | 9,518 | ||
Others assets (excluding advance taxation) | 1,685,507 | ||
4,547,257 | |||
Increase / (decrease) in operating liabilities | |||
Bills Payable | 1,202,998 | ||
Due to financial institutions | 10,546,861 | ||
Deposits | 55,812,846 | ||
Other liabilities (excluding current taxation) | (7,917,859) | ||
59,644,846 | |||
Income tax paid | (15,927,679) | ||
Profit / return received | 113,252,077 | ||
Profit / return paid | (79,525,584) | ||
Contribution to gratuity fund | (85,888) | ||
Net cash generated from operating activities | 71,668,139 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Net divestments / (investments) in amortized cost securities | (1,015,511) | ||
Net investments in securities classified as FVOCI | (40,738,343) | ||
Net investments in subsidiary | (1,000,000) | ||
Net divestments in associates | 1,514,509 | ||
Dividends received | 224,076 | ||
Investment in property and equipment | (5,556,422) | ||
Investment in intangible assets | (254,353) | ||
Disposal proceeds of property and equipment | 11,726 | ||
Net cash used in investing activities | (46,814,318) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Payment of lease liabilities against right-of-use assets | (1,467,994) | ||
Dividend paid | (11,191,378) | ||
Net cash used in financing activities | (12,659,372) | ||
(Decrease) / Increase in cash and cash equivalents during the period | 12,194,449 | ||
Cash and cash equivalents at the beginning of the period | 83,590,685 | ||
Effect of exchange rate changes on cash and cash equivalents | 124,967 | ||
Cash and cash equivalents at the beginning of the period | 83,715,652 | ||
Cash and cash equivalents at the end of the period | 95,910,101 | ||
The annexed notes 1 to 43 form an integral part of these condensed interim unconsolidated financial statements. | |||
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