Karachi August 24 2023: The share price of Faysal Bank Limited experienced a decline of 6.5 percent, equivalent to PKR 1.71, subsequent to the announcement of its results. This drop came about due to investor disappointment stemming from the lower-than-expected cash payout.
In its recent announcement, Faysal Bank revealed an interim cash payout of PKR 1 per share or 10% for the second quarter ending on June 30, 2023.
For the first half of 2023, Faysal Bank posted a profit of PKR 7.5 billion, a significant increase from the PKR 4.3 billion reported during the same period in 2022. Notably, the bank's interest income surged to PKR 82.1 billion in the first half of the year, accompanied by foreign exchange earnings of PKR 1.6 billion.