First National Bank Modaraba has transmitted its annual report for the year ended June 30, 2026, detailing its financial performance and operational challenges.
- The report indicates a net loss of PKR 4.35M for FY 2026, slightly improved from a loss of PKR 4.68M in FY 2025.
- Total revenue for the year was PKR 38.94M, down from PKR 49.14M in the previous year.
- Operating expenses were managed at PKR 17.63M, compared to PKR 16.30M in FY 2025.
- The Modaraba's accumulated losses have now reached PKR 325.40M, exceeding its total subscribed certificate capital by PKR 75.40M.
- Current liabilities exceed current assets by PKR 70.04M, raising concerns about the Modaraba's ability to continue as a going concern.
- The management is actively pursuing a business revival plan with the National Bank of Pakistan.
- No dividends were declared due to ongoing financial difficulties.
- The auditors have highlighted significant uncertainties regarding the Modaraba's future viability, given its financial position and pending legal matters.