# JS Bank

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Pakistani commercial bank

JS Bank Headquarters of JS Bank in Karachi Type Public Traded as PSX: JSBL Industry Banking, Finance, Investment Banking Founded April 2007; 19 years ago (2007-04) Founder Jahangir Siddiqui Headquarters Karachi, Pakistan Key people Adil Matcheswala (Chairman) Basir Shamsie (CEO) Services Consumer banking, Corporate banking, Investment banking, Investment management, Finance, Branchless banking, Business banking, Loans, Savings account, Financial product Revenue Rs. 88.60 billion (US$320 million)[1] (2024) Operating income Rs. 6.366 billion (US$23 million)[1] (2024) Net income Rs. 2.848 billion (US$10 million)[1] (2024) Total assets Rs. 636.108 billion (US$2.3 billion)[1] (2024) Total equity Rs. 43.707 billion (US$160 million)[1] (2024) Number of employees 4,663[1] (Sept 2024) Parent Jahangir Siddiqui & Co.

**JS Bank Limited (JSBL)** ([Urdu](/source/Urdu_language): جے ایس بینک) is a Pakistani [commercial bank](/source/Commercial_bank) headquartered in [Karachi](/source/Karachi). It operates as a subsidiary of [Jahangir Siddiqui & Co. Limited](/source/Jahangir_Siddiqui_%26_Co.) (JSCL), a financial conglomerate in Pakistan The bank was established in April 2007 as a result of the merger of two banks, Jahangir Siddiqui Investment Bank Limited and American Express Bank. JS Bank Limited currently operates branches across Pakistan, as well as an international branch in [Manama, Bahrain](/source/Manama).[2]

The Pakistan Credit Rating Agency Limited (PACRA) maintains the long-term entity rating of JS Bank Limited (JSBL) to ‘'AA' (Double A). Meanwhile, short-term entity rating is maintained at ‘A1+’ (A One Plus).[3]

## History

JS Bank origins began with the acquisition of Citicorp Investment Bank Limited by [Jahangir Siddiqui & Co. Limited](/source/Jahangir_Siddiqui_%26_Co.) on 1 February 1999 to form Jahangir Siddiqui Investment Bank Limited (JSIBL). JSIBL had a 60% stake in Citicorp giving it ownership of the organization and its operations in Pakistan. In 2007, JSIBL and [American Express Bank Limited](/source/American_Express) - Pakistan operations were merged, resulting in the formation of the JS Bank. Jahangir Siddiqui & Co. maintained majority shares in the new company.[4]

JS Bank operates as a subsidiary of Jahangir Siddiqui & Co. Limited, and its shares are listed on the [Pakistan Stock Exchange](/source/Pakistan_Stock_Exchange) (PSX).[5]

In 2016, JS Bank opened its first branch outside of Pakistan in Bahrain.[6][7] In 2020, the bank rapidly grew its network and reached the PKR 400 billion deposit mark.[8][9]

JS Bank holds the largest share in the disbursement of the Rozgar Refinance Scheme, amounting to PKR 10.8 billion as per State Bank of Pakistan policy.[10]

The bank has expanded its network, reaching 293 branches across Pakistan by 2024,[11] with its first international branch established in [Manama, Bahrain](/source/Manama), in 2016. Financially, the bank's deposit base grew from PKR 486.3 billion in December 2023 to over PKR 500 billion (US$ 1.79 billion) by March 2024.[12]

## Products and services

JS Bank products include personal banking including current accounts, savings accounts, mortgages, loans, lockers, credit cards, debit cards, and digital banking.[13] Under the umbrella of business financing, the bank provides [Corporate Banking](/source/Corporate_banking), [Commercial Banking](/source/Commercial_Banking), [Investment Banking](/source/Investment_banking), Trade and SME services.[13]

## Operations

JS Bank's digital transformation initiatives include the launch of Zindigi, a mobile application targeting millennials and Gen Z users with features like nano loans, stock trading, and investment tools.[14][15][16][17][18] JS Bank participates in the State Bank of Pakistan's [Roshan Digital Account](/source/Roshan_Digital_Account) initiative, allowing non-resident Pakistanis to open bank accounts digitally.[19][20][21] In 2023, JS Bank acquired [BankIslami](/source/BankIslami) while maintaining separate operations.[22][23][24]

## Penalty imposed by the State Bank of Pakistan

In September 2019, the State Bank of Pakistan imposed penalties on a number of local institutions including JS Bank for deficiencies in customer due diligence. The bank's departments where discrepancies were pointed out included asset quality, corporate governance, and AML/KYC. The bank was also advised timelines to enhance its processes for identification of politically exposed persons, customer risk profiling and transaction monitoring.[25]

## See also

- [Jahangir Siddiqui & Co.](/source/Jahangir_Siddiqui_%26_Co.)

- [Banking in Pakistan](/source/Banking_in_Pakistan)

## References

1. ^ [***a***](#cite_ref-AR2024_1-0) [***b***](#cite_ref-AR2024_1-1) [***c***](#cite_ref-AR2024_1-2) [***d***](#cite_ref-AR2024_1-3) [***e***](#cite_ref-AR2024_1-4) [***f***](#cite_ref-AR2024_1-5) ["JS Bank Annual Report 2024"](https://www.jsbl.com/wp-content/uploads/2025/03/JS-Bank-Annual-Report-31-December-2024-1.pdf) (PDF). *jsbl.com*. Retrieved 9 October 2025.

1. **[^](#cite_ref-2)** ["Financial Highlights (2015 to 2020)"](https://web.archive.org/web/20210513024919/https://jsbl.com/wp-content/uploads/2021/03/JS-Bank-Limited-Financial-Highlights-2015-to-2020.pdf) (PDF). Archived from [the original](https://jsbl.com/wp-content/uploads/2021/03/JS-Bank-Limited-Financial-Highlights-2015-to-2020.pdf) (PDF) on 2021-05-13.

1. **[^](#cite_ref-3)** ["Press Release"](https://www.pacra.com/finalPr/IjgxNTAi).

1. **[^](#cite_ref-4)** ["JSBL stock market profile"](https://www.investorslounge.com/stock-market/company-profile/jsbl).

1. **[^](#cite_ref-5)** ["JSBL - Stock quote for JS Bank Limited - Pakistan Stock Exchange (PSX)"](https://dps.psx.com.pk/company/JSBL). *dps.psx.com.pk*. Retrieved 2024-12-29.

1. **[^](#cite_ref-6)** ["JS Bank Pakistan opens its first International Branch in Bahrain February 3, 2016"](https://www.thenews.com.pk/print/95583-JS-Bank-Pakistan-opens-its-firstInternational-Branch-in-Bahrain-February-3-2016). *www.thenews.com.pk*. Retrieved 2024-11-20.

1. **[^](#cite_ref-7)** Release, Press. ["JS Bank strengthens its GCC business with the opening of a new branch in Bahrain"](https://www.zawya.com/en/press-release/js-bank-strengthens-its-gcc-business-with-the-opening-of-a-new-branch-in-bahrain-quxgifbj). *www.zawya.com*. Retrieved 2024-11-20.

1. **[^](#cite_ref-8)** ["JS Bank Crosses Rs. 400 Billion in Deposits"](https://jsbl.com/js-bank-crosses-rs-400-billion-in-deposits/). 6 July 2020.

1. **[^](#cite_ref-9)** ["JS Bank: Crosses Rs. 400 Billion in Deposits - Press Release issued by JS Bank Limited | MarketScreener"](https://www.marketscreener.com/quote/stock/JS-BANK-LIMITED-25682687/news/JS-Bank-nbsp-crosses-Rs-400-Billion-in-Deposits-Press-Release-issued-by-JS-Bank-Limited-30882787/). 6 July 2020.

1. **[^](#cite_ref-10)** ["JS Bank leads in Rozgar schemed"](http://tribune.com.pk/story/2254129/js-bank-leads-in-rozgar-scheme). *The Express Tribune*. 2020-07-09. Retrieved 2020-07-24.

1. **[^](#cite_ref-11)** ["Status of Bank branches in: All over the Country"](https://www.sbp.org.pk/loaddata.html?val=all).

1. **[^](#cite_ref-12)** ["Quarterly Report September 30, 2024"](https://www.jsbl.com/wp-content/uploads/2024/10/Quarterly-Report-September-30-2024.pdf) (PDF).

1. ^ [***a***](#cite_ref-:0_13-0) [***b***](#cite_ref-:0_13-1) ["Business Account In Pakistan | JSBL"](https://jsbl.com/business/). *JS Bank*.

1. **[^](#cite_ref-14)** ["Zindigi, Powered by JS Bank, Becomes One of the Top 5 Most Downloaded Apps of the Country"](https://www.newswire.com/news/zindigi-powered-by-js-bank-becomes-one-of-the-top-5-most-downloaded-21949591). *www.newswire.com*. Retrieved 2024-11-20.

1. **[^](#cite_ref-15)** ["Zindigi of JS Bank & Mastercard team up to enhance public transport in Karachi"](https://ibsintelligence.com/ibsi-news/zindigi-of-js-bank-mastercard-team-up-to-enhance-public-transport-in-karachi/). *IBS Intelligence*. Retrieved 2024-11-20.

1. **[^](#cite_ref-16)** ["Zindigi, Powered by JS Bank & Chikoo Combine Expertise to Launch Financial Services for Small Businesses"](https://digitalpakistan.pk/zindigi-powered-by-js-bank-chikoo-combine-expertise-to-launch-financial-services-for-small-businesses/). *Digital Pakistan*. 2022-08-19. Retrieved 2024-11-20.

1. **[^](#cite_ref-17)** ["Zindigi 2.0: Welcome to the New Era of Fintech! – Business Bytes"](https://businessbytes.pk/zindigi-2-0-welcome-to-the-new-era-of-fintech/). 2024-10-22. Retrieved 2024-11-20.

1. **[^](#cite_ref-18)** ["Zindigi, Powered by JS Bank, Becomes One of the Top 5 Most Downloaded Apps of the Country"](https://www.fintechfutures.com/techwire/zindigi-powered-by-js-bank-becomes-one-of-the-top-5-most-downloaded-apps-of-the-country/).

1. **[^](#cite_ref-19)** Bank, J. S. (2022-07-06). ["JS Bank Launches Roshan Digital Account"](https://www.globenewswire.com/news-release/2022/07/06/2474479/0/en/JS-Bank-Launches-Roshan-Digital-Account.html). *GlobeNewswire News Room*. Retrieved 2024-11-20.

1. **[^](#cite_ref-20)** ["JS Bank Joins Roshan Digital Account Initiative and Becomes First Bank to Introduce Account Opening Through WhatsApp"](https://finance.yahoo.com/news/js-bank-joins-roshan-digital-170000092.html).

1. **[^](#cite_ref-21)** Release, Press (2022-04-18). ["JS Bank joins Roshan Digital Account initiative"](https://www.brecorder.com/news/40167874/js-bank-joins-roshan-digital-account-initiative). *Brecorder*. Retrieved 2024-11-20.

1. **[^](#cite_ref-22)** ["JS Bank announces BankIslami acquisition"](https://www.nation.com.pk/30-Aug-2023/js-bank-announces-bankislami-acquisition). *The Nation*. 2023-08-30. Retrieved 2024-11-20.

1. **[^](#cite_ref-23)** Reporter, The Newspaper's Staff (2023-08-26). ["JS acquires BankIslami"](https://www.dawn.com/news/1772274). *DAWN.COM*. Retrieved 2024-11-20.

1. **[^](#cite_ref-24)** Report, Recorder (2023-08-26). ["JS Bank acquires 67.33pc ordinary shares of BankIslami"](https://www.brecorder.com/news/40259922). *Brecorder*. Retrieved 2024-11-20.

1. **[^](#cite_ref-25)** ["SBP Imposes Rs805m Monetary Fines On Banks"](https://fp.brecorder.com/2019/09/20190907516014/).

- [Banks portal](https://en.wikipedia.org/wiki/Portal:Banks)

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Adapted from the Wikipedia article [JS Bank](https://en.wikipedia.org/wiki/JS_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/JS_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.