JS Bank

JS Bank

Type	Banking and Finance
Industry	Financial services
Founded	2007
Headquarters	1st Floor, Shaheen Commercial Complex, Dr. Ziauddin Ahmed Road, Karachi, Pakistan.
Area served	Pakistan
Services	Finance and Insurance Asset Management Consumer Banking Corporate Banking Investment Banking Investment Management Private Equity
Employees	23,000
Website	www.jsbl.com

JS Bank is a majority-owned subsidiary of Jahangir Siddiqui & Co. Ltd. and currently operates 185 branches in 100 cities with a total asset base of Rs 64.53 billion as of June 30. JS Bank’s consolidated profits (after tax) for the year 2012 were Rs 819 million. JS Group is progressive financial service groups in Pakistan. JS Group has dynamically expanded its business in different sectors and has introduced JS Bank Limited with various standards of banking. JS Bank Limited operates in the Commercial banking sector. It is a scheduled bank engaged in commercial banking and related services. The activities of JS Bank are categorized into five business units. They are Retail Banking, Wealth Management, Corporate Banking, Investment Banking and Treasury.

History

JS Bank is a majority-owned subsidiary of Jahangir Siddiqui & Co. Ltd. It is a commercial bank and also has a Primary Dealer license for government securities from the State Bank of Pakistan. JS Bank Limited has been formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited and commercial banking operations of American Express Bank Ltd Pakistan. JS Bank Limited commenced operations in Pakistan as a fully scheduled bank on December 30, 2006. In 1999, Jahangir Siddiqui Investment Bank Limited (JSIBL) was formed when Jahangir Siddiqui & Co. Ltd. acquired Citicorp Investment Bank (Pakistan) Limited. JSIBL principally mobilize funds through issuance of Certificates of Investment to individual investors, corporate clients, and financial institutions. Short-term financing was provided to corporate clients through these funds. The investment bank was also an active investor in equity, bond markets, and money markets through outright repo and reverse repo transactions. In 2006 the number of branches was 4, which increased to 9 in 2007. In 2008 the number increased to 39 and to 101 in 2009. In 2010, the number of branches were 129. Currently, JS Bank has 185 branches in 100 cities.

Corporate banking

Corporate banking work includes Treasury, Asset Management, Corporate Finance, Brokerage Services as well as Islamic Banking for shariah-compliant banking.

Wealth management

As part of JSBL Wealth Management Services, JSBL product lines are divided into the following:

• Bancassurance
• Mutual Funds

Financial information

• Ticker: JSBL
• Country: PAKISTAN
• Exchanges: KAR
• Major Industry: Financial
• Sub Industry: Commercial Banks
• 2010 Sales 3,631,901,000
• Employees: 0
• Currency: Pakistan Rupees
• Market Cap: 1,385,451,491
• Fiscal Year Ends: December
• Shares Outstanding: 814,971,465
• Share Type: Ordinary
• Closely Held Shares:527,046,037
• Consolidated profits for 2012 (after tax): Rs 819 million .

JS Bank to acquire HSBC Pakistan

JS Bank is likely to buy out HSBC Bank Middle East Ltd’s Pakistan branches and their assets. According to NASDAQ and Wall Street Journal, HSBC Bank Middle East Ltd. has entered into an agreement to sell its banking business in Pakistan to JS Bank Ltd. HSBC Pakistan has over Rs 46 billion in deposits with 10 branches nationwide. This possession will act as a channel in achieving growth strategy.

Awards and achievements

Primary Dealer 2010-11

JS Bank Limited won the first award for the primary dealer for Financial Year 2010-11.

Primary Dealer 2011-12

The State Bank of Pakistan recently, 2nd year in a row has declared JS Bank as the Number 1 Primary Dealer of Government Securities for the year 2011-12. JS Bank is one of only 11 State Bank of Pakistan appointed Primary Dealers authorized to participate in the auctions of Government of Pakistan securities consisting of Treasury Bills (T-Bills) and Pakistan Investment Bonds (PIBs).

Entity Rating PACRA

PACRA Upgrades Ratings of JS Bank Limited. The Pakistan Credit Rating Agency (PACRA) has upgraded the long-term entity rating of JS Bank Limited (JSBL) to ‘A+’ (Single A Plus).

Public relations

T-20 Women's Tournament

JS Bank organized the first women's T-20 Tournament, JS Bank Cup – Women T20 Cricket Tournament which started from June 29, 2011 and ended on July 3, 2011. The event was held to promote women's cricket and to spot new talent. The participating teams were JS Orange, JS Red, JS Blue and JS Green.

Pakistan Fast Growth 25

Pakistan Fast Growth 25, a ranking of fast growth entrepreneurial companies, is a program of All World Network which was launched in Pakistan with collaboration of JS Bank Limited.

100 Lucky Winners

JS Bank launched a monthly lucky draw campaign in July 2011 in collaboration with Xpress Money Services Limited for its remittance service availing customers. The campaign's duration is three months. The first lucky draw of the campaign was held on August 5, 2011 and the winners were awarded prizes.

Partnerships

Acumen Fund Selection Conference for Pakistan Fellows Program

Acumen Fund, a pioneering nonprofit global venture firm addressing poverty across Africa and in South Asia, held a selection conference on November 30, 2012 in Karachi as part of the process to identify the inaugural class of Pakistan Fellows. In partnership with JS Bank, Mahvash & Jahangir Siddiqui Foundation and the Edmond de Rothschild Foundations, Acumen is working to develop the next generation of social change leaders who are building innovative businesses and strong institutions across Pakistan. The Fellows also have the opportunity to travel within Pakistan to broaden their understanding of social change models. The innovation conference is meant to be a chance for Fellows to put into practice their new skills, as well as provide a platform to showcase their projects to a larger community of leaders.

JS Bank and ALLIANZ – EFU

JS Bank Limited, one of the fastest growing and most dynamic banks in Pakistan has recently inked a new strategic partnership with Allianz EFU, the leading health insurance provider in Pakistan. Under the new partnership agreement, JS Bank will offer customers the health insurance products of Allianz EFU at all its branches which number 185 in 100 cities across Pakistan. The very first of these products is titled SehatSarmaya.

JS Bank and CRPL

In line with its continuous efforts to bring its customers a broad range of banking services, JS Bank has signed an agreement with Computer Research (Pvt.) Ltd. (CRPL) for purchasing a state of the art Cash Management Solution. The Cash Management Solution will enable the bank to offer a wide array of payments and collections services to its customers through the internet banking platform and a growing network of branches across the country.

JS Bank and InfoTel Pakistan

JS Bank and InfoTel Pakistan sign agreement to launch EMV Capable Credit and Debit Cards. Under the new agreement, JS Bank will enable its systems to offer its customer EMV compliant cards in both Debit and Credit categories thereby providing them with a cutting edge global standard of heightened security and increased functionality. Furthermore by complying to EMV, JS Bank will have a competitive advantage of issuing cards on the global platform of Java, thereby enabling them to be better equipped to offer more features and services in the days ahead.

JS Bank Hosts ICFJ Delegation

A delegation of US based journalists from International Centre for Journalists (ICFJ) were hosted by JS Bank at a local hotel. Their visit to Pakistan has been organized as part of the US - Pakistan Professional Partnership in Journalism Forum to enhance the exchange of views between the two nations and to help formulate a softer opinion of each other in the media of their respective countries.

See also

• Mahvash & Jahangir Siddiqui Foundation
• JS Group

External links

• Annual Report 2011 [1]