BankIslami continues to impress with a remarkable 66.2% increase in profit before tax for the first half of 2024. Despite challenging market conditions, the Bank’s financial performance remains robust, driven by strategic initiatives and strong growth in key areas.
A key highlight of the period was the significant rise in non-fund-based income (NFI), which contributed to a 32.1% surge in post-tax profit. The Bank’s commitment to shareholders is evident in the declaration of an interim dividend of Rs. 1.5 (15%).
To navigate economic uncertainty, BankIslami strategically adjusted its investment and financing portfolios. The investment portfolio grew, while the gross financing portfolio saw a controlled reduction, leading to a slight increase in the infection ratio.
The Bank’s deposit portfolio experienced substantial growth, driven by a 7% increase in Current Accounts. This growth boosted the Bank’s CA ratio and CASA ratio, reflecting growing consumer confidence and enhanced liquidity.
Also Read: BankIslami’s Profit Before Tax Surges by 262% in Q1 2023
BankIslami’s strong financial position is further reinforced by its impressive Capital Adequacy Ratio (CAR), which stands well above the regulatory threshold. Looking ahead, the Bank is committed to expanding its deposit base, leveraging its extensive branch network, and enhancing the customer experience through technological advancements.
