JS Bank Limited’s financial results for the half year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of JS Bank Limited (JSBL) (Bank) in their meeting held on August 25, 2011 at 11:30 a.m. at Shaheen Commercial Complex, Dr. Ziauddin Ahmed Road, Karachi have approved the Financial Statements for the half year ended June 30, 2011.

Financial results of the Bank are enclosed.

Js Bank Limited

Condensed Interim Profit and Loss account (Unaudited)

For the Half Year Ended June 30, 2011

 

Quarter ended

Half year ended

June 30

June 30

June 30

June 30

2011

2010

2011

2010

Note

Rupees in 000

Mark-up / return /interest earned1,026,571825,180 1,953,7721,606,317
Mark-up/ return / interest expensed 598,484553,2201,182,9921,097,185
———-——— ———-———-
Net mark-up/ Interest Income 428,087271,980770,780 509,132
Reversal of / (Provision) against non-performing
loans and Advances89,160 43,33584,649(22,981)
Reversal of / (Provision) for diminution
in which of investments139,569(77,341)139,569 (77,341)
Bad Debts written offs directly - -- -
 ———-——————-———-
228,675 (34,006)224,218(100,322)
 ———-——————- ———-
Net mark-up / Interest Income after provisions656,762 237,954994,998408,810
Non-mark-up / Interest Income
Fee, commission and brokerage income90,34542,301156,44179,690
Dividend Income13,378 -13,378 11,350
Income / (Loss) from dealing in foreign currencies25,320(303) 43,4431,034
(Loss) / gain on sale / redemption of securities(115,137)731(21,473)23,176
Unrealized (loss) / gain on revolution
of investments classified as held for trading (3,722)18 (1,073)18
Other income / (loss)5,948(390) 6,567 (1,182)
———-——— ———-———-
Total non-mark-up / Interest Income15,13242,357197,283114,086
———-——— ———-———-
672,894280,3111,192,281522,896
Non Markup / Interest Expenses
Administrative expenses16530,454492,6011,028,231919,444
Fixed assets written off-16,257-16,267
Other charges187,4945997,755649
———- ——————-———-
Total non-mark- / Interest expenses537,948509,4871,035,996 936,360
 ———- ——————-———-
134,946(229,156)156,285(413,646)
Extraordinary / Unusual items -- --
 ———- ——— ———-———-
Profit / (loss) before taxation134,946(229,156)156,285 (413,646)
Taxation
-Current17(11,856) (12,952)(22,940)(17,216)
-Prior years- ---
-Deferred(32,947) 93,633 (32,947) 93,633
 ———-——————-———-
 (44,803)80,68155,88776,417
———-——————-———-
Profit / (loss) after taxation90,143(148,475)100,398(337,047)
———-——— ———-———-
Rupees
Basic and diluted earning / (loss) per share190.11 (0.24) 0.12 (0.55)

 

The annexed notes from 1 to 23 from an integral part of this condensed interim information.

For more information, contact:
JS Bank Limited
Shaheen Commercial Complex, Dr.Ziauddin Ahmed Road,
Karachi, Sindh, Pakistan
Tel: +9221 111 JS BANK (572 265)
Fax: +9221 263 1803
Mobile: +92321 829 8270