Recent performanceLike the rest of the banking sector, the last few years have been sublime for JSBL. Courtesy of still being relatively young, JS Bank has outpaced the top line and bottom line growth of most of the industry participants in the past half decade. Much of that can also be associated with the 'JS' brand name backing this decade-old bank. In the past five years, JS Bank's earned interest (mark-up/ return) has grown at a compound annual growth rate of 36 percent - from Rs3.3 billion in CY10 to Rs15.3 billion in the recently concluded CY15. Despite steep growth, JSBL makes only a tiny fraction of the overall industry. For reference, the total interest earned by the country's banking sector was Rs982 billion in CY15. In the past year that saw considerable monetary policy easing - declining discount rates and banking spreads - JSBL produced upbeat results. Earned interest grew 38 percent year-on-year for the bank compared to an industry-wide growth of less than seven percent. Over the past few years, the growth in interest earned has outpaced that in interest expensed. This has been true for the industry as a whole. For JSBL, the five-year CAGR in interest expensed clocked in at 34 percent - two percentage points lower than the earned interest. In CY15, the bank paid out Rs9.7 billion in interest to customers - 34.2 percent more than a year before. In the same period, the industry expensed out Rs486 billion in interest payouts. Net mark-up or interest income has rallied phenomenally for JSBL - five fold since CY10 - at a CAGR of 40 percent. In CY15, the metric grew 45 percent year-on-year to Rs5.6 billion. The industry, in comparison, experienced a 20 percent rise in interest income in the period as per SBP's data.
Share price and outlookSBL stock was much more volatile compared to the benchmark index last year, but both ended up flattish. The banking industry heavyweights (like HBL, MCB and UBL) and consequently the overall sector finished deep in the red last year. JSBL currently trades at around Rs7 a share - rallying from under-Rs2 at the beginning of 2012. The stock outperformed the market in 2012 and 2014. Despite declining banking spreads, profitability has been strong for banks in Pakistan. Interest income has gone up steadily and PIB investments have soared rapidly. Such a trend in expected to continue for the banking sector with the sector's bottom-line having more room to grow.
Internet BankingWelcome to the world of JS Bank Internet Banking. With JS Bank Internet Banking service you can access and manage your accounts anywhere, anytime. You can enjoy following amazingly convenient internet banking facilities:
- Account Statement
- Inter Bank Funds Transfer (IBFT)
- Internal Funds Transfer (IFT)
- Utility Bill Payments
- Mobile Phone Payment and Top-ups
- Instrument Status Inquiry
- Cheque Stop Payment
- ATM/Debit Card Blocking
- Chequebook Request
- Paper Statement Request
- Pay Order/Demand Draft Request
- Standing Instructions
CareerAs a bank committed to having a positive economic and social impact on the broader economy and on the community in which we live and work, we depend on our people to deliver on our commitments. In return, we offer unique opportunities to further your career in a professional environment by utilizing your educational and professional capabilities, while positively exploring your creativity and innovation. At JS Bank you work side by side with other great professionals – smart and supportive colleagues and inspiring managers who motivate you to give your best. We take great pride in acknowledging the contribution each one of you makes and aim to reward people based on performance standards aligned with the overall strategy and cascaded business objectives. We offer potential for bright minds with big ambitions, and actively encourage our people to pursue job opportunities within our network that are in line with their career aspirations. By leveraging your unique strengths, and providing you with the right technical and professional training, we will help you realize your potential and help you perform to an exceptional standard. JS Bank is an equal opportunity employer. If your view of a career matches the afore-mentioned perspective of JS Bank’s, we’d love to talk to you and explore how we can be mutually beneficial to each other.
Products ServicesJS Bank offers a variety of products and services for both depositors and borrowers at competitive rates. Please note that Zakat, Withholding tax, or any other tax/ conditions are applicable as per SBP Regulations. To get further details, please click on to the specific Product or Service in the drop down menu.
JS Bank LimitedJS Bank continued to maintain its steady growth despite a challenging operating environment. With all divisions expanding their operations and delivering robust performances, JS Bank has moved one step ahead in developing a market niche for itself. All the products and services being offered by JS Bank have been tailored to suit the clients’ preferences, ensuring their complete satisfaction The Bank has a large branch network of 238 branches in 122 cities. This extensive network has been established within a short span of 8 years. During 2012, JS Bank’s Treasury was rated by the State Bank of Pakistan as the No. 1 Primary Dealer of Pakistan. The Bank was also rated the No. 1 Primary Dealer of Pakistan in 2011. JS Bank is one of the 11 Primary Dealers in the country which act as underwriters and market makers for the secondary trading in Treasury Bills and Pakistan Investment Bonds. The Treasury also recorded a strong performance in its core Asset & Liability Management and Foreign Exchange activities, and efficiently capitalized on the interest rate volatility to earn handsome capital gains. JS Bank Limited, incorporated in Pakistan, is a scheduled bank, engaged in commercial banking and related services. The Bank’s ordinary shares are listed on Karachi Stock Exchange in Pakistan. The Bank is a subsidiary of Jahangir Siddiqui & Co. Ltd. The registered office of the Bank is situated at Shaheen Commercial Complex, Dr. Ziauddin Ahmed Road, Karachi. The Bank operates with 185 (December 31, 2011: 147) branches / sub-branches in Pakistan. The Pakistan Credit Rating Agency (Private) Limited (PACRA) has upgraded the longterm entity rating of JS Bank from “A” to “A+” (Single A Plus), while maintaining the short term rating at “A1” (A One). Jahangir Siddiqui Investment Bank Limited (JSIBL, formerly Citicorp Investment Bank Limited which was acquired by Jahangir Siddiqui & Co. Ltd. (JSCL) on February 01, 1999) and its holding company, JSCL, entered into a Framework Agreement with American Express Bank Limited, New York (AMEX) on November 10, 2005 for acquisition of its American Express Bank Limited (AEBL) Pakistan Operations. Consequently, a new banking company, JS Bank Limited (JSBL) was incorporated on March 15, 2006 and a restricted Banking License was issued by the State Bank of Pakistan (SBP) on May 23, 2006.
JS Bank to offer subsidised loans to cab driversJS Bank on Monday showed its commitment to offer a financing facility under Prime Minister’s Youth Business Loan Scheme, in collaboration with CAREEM, an online cab booking service. Prime Minister’s Youth Programme Chairperson Leila Khan on Monday chaired a meeting on Prime Minister’s Youth Business Loan Scheme at the PM Office with a delegation from JS Bank, led by its President and CEO Khalid Imran. Under the arrangement, JS Bank will offer subsidised loans at 6% mark-up rate to potential cab drivers for buying cars to run their cab service business. The cabs under this scheme will be properly insured, and fitted with tracker facility. JS Bank, one of the leading SME financing banks with around Rs11 billion SME portfolio, is processing loan applications under this scheme initially through its 15 hub branches in 10 major cities across the country.
JS Bank ATMs
- Mini Statement
- Utility bills payment
- -PTCL & Mobile
- Change PIN
- Card Blocking
- Cheque Book Ordering
- IBFT (Inter Bank Fund Transfer)
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