KARACHI: First National Bank Modaraba (FNBM) reported a net loss of Rs1.06 million for the nine months ended March 31, 2026, compared to a loss of Rs1.57 million recorded in the corresponding period last year, reflecting a modest improvement in its financial performance.
According to the company’s condensed interim financial statements, the loss per Modaraba certificate improved to Rs0.04, compared with Rs0.06 in the same period of the previous year.
During the nine-month period, total income declined to Rs29.48 million from Rs39.40 million a year earlier. The decrease was mainly driven by lower income from short-term investments, although the company benefited from other income, including the reversal of provisions for doubtful receivables and suspended income.
Despite the decline in revenue, FNBM managed to reduce its operating expenses. Total expenses fell to Rs30.63 million, compared with Rs39.66 million in the corresponding period last year, helping narrow the overall loss.
The company’s balance sheet showed total assets increasing to Rs438.33 million as of March 31, 2026, from Rs425.42 million at the end of June 2025. Cash and bank balances also improved significantly to Rs17.78 million, compared with Rs9.48 million nine months earlier, strengthening its liquidity position.
However, FNBM continued to report negative equity of Rs26.59 million, reflecting accumulated losses of Rs322.10 million, although its certificate capital remained unchanged at Rs250 million.
The interim financial statements indicate that while First National Bank Modaraba continues to face profitability challenges, tighter cost controls and improved liquidity helped reduce losses during the reporting period. Investors will likely monitor the company’s efforts to strengthen earnings and restore positive equity in the coming quarters.
