Mubasher: Ithmaar Bank said Monday that its Pakistan-based subsidiary Faysal Bank Limited recorded higher profits during the first nine months of the fiscal year 2016.
The bank registered $35 million profits after tax (PKR 3.7 billion) in the first nine months, higher 11.5% compared with the year ago period.
This profit increase was registered although the Pakistani government imposed additional taxes on the bank up to $3.3 million (PKR 350 million).
In the first six months, Faysal Bank’s profits after tax increased by 10% to $27 million.
