Key Operating Subsidiaries
Faysal Bank Limited (FBL)
Faysal Bank Limited (the Bank) was incorporated in Pakistan on October 3, 1994. Its shares are listed on the Karachi, Lahore and Islamabad Stock Exchanges. The Bank is mainly engaged in Corporate, Commercial and Consumer banking activities. During 2014, the decision was taken to convert FBL’s remaining conventional operations to Islamic banking. The Bank has a network of 279 branches including 68 Islamic banking branches as of 31 December 2015. The Group owns 66.67 percent of FBL. The current strategy of FBL focuses on growth in deposits (including improvement in low cost deposits portfolio) and reduction on operating costs in order to achieve higher profitability. The total assets and total shareholders’ equity as of 31 December 2015 amounted to PKR 427 billion and PKR 27.2 billion respectively.