First Credit and Investment Bank Limited (FCIBL) reported a solid improvement in profitability for the nine-month period ended March 31, 2026, with after-tax profit rising to Rs55.73 million from Rs48.11 million in the same period last year.
According to the company’s unaudited financial statements, profit before tax increased to Rs69.09 million during the nine months, compared with Rs51.78 million a year earlier. Earnings per share also improved to Rs0.86 from Rs0.74.
Investment income drives revenue
FCIBL’s total income for the nine-month period reached approximately Rs170.67 million, compared with Rs488.71 million in the corresponding period of 2025. The income mix included Rs111.71 million from investments, Rs43.48 million from finance and fund placements, Rs15.90 million in fees and commissions, and other income of about Rs0.95 million.
The bank also recorded an unrealized loss of Rs0.52 million on investments classified at fair value through profit or loss, compared with an unrealized gain of Rs8.62 million in the same period last year.
Stronger operating performance
Despite changes in income composition, FCIBL’s operating income stood at Rs47.28 million for the nine months, up from Rs39.98 million in the comparable period.
The company benefited from reversals of provisions, including Rs8.54 million related to accrued mark-up and Rs17.59 million related to non-performing investments. These helped lift profit before levy and taxation to Rs72.42 million from Rs57.70 million.
Equity remains stable
As of March 31, 2026, FCIBL reported total shareholders’ equity of Rs877.68 million, compared with Rs875.47 million at June 30, 2025.
Issued, subscribed and paid-up capital remained unchanged at Rs650 million, while accumulated profit increased to Rs266.55 million. However, the company reported a deficit of Rs38.87 million on the remeasurement of investments classified as fair value through other comprehensive income.
Cash position under pressure
The cash flow statement shows that FCIBL generated Rs9.28 million in cash from operating activities during the nine months, reversing a cash outflow of Rs18.83 million recorded in the corresponding period of 2025.
However, investing activities absorbed Rs545.85 million, mainly reflecting movements in investments and financing-related assets. As a result, cash and cash equivalents declined to negative Rs3.47 billion at March 31, 2026, compared with negative Rs2.75 billion a year earlier.
No dividend announced
In its April 24, 2026 communication to the Pakistan Stock Exchange, the company stated that the board had recommended no interim cash dividend for the quarter ended March 31, 2026. No bonus shares or right shares were recommended either.
Overall, FCIBL’s latest results show improved bottom-line profitability and stronger operating income, although the movement in investment valuations and cash flows remains an important area for investors to watch.
