Jahangir Siddiqui & Co.

Jahangir Siddiqui & Co.
Company typePublic
PSX: JSCL
IndustryFinancial services
Founded1971 (1971)
FounderJahangir Siddiqui
HeadquartersKarachi, Pakistan
Area served
Pakistan
ServicesFinance and Insurance
Asset Management
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Private Equity
Venture Capital
Philanthropy
RevenueIncrease Rs. 149.338 billion (US$520 million) (2023)
Increase Rs. 8.623 billion (US$30 million) (2023)
Total assetsIncrease Rs. 1.245 trillion (US$4.3 billion) (2023)
Total equityIncrease Rs. 75.189 billion (US$260 million) (2023)
OwnerJahangir Siddiqui Securities Services (43.89%)
Jahangir Siddiqui & Sons (23.63%)
Number of employees
23 (2023)
SubsidiariesJS Infocom Limited
JS International Limited
JS Bank (71.21%)
JS Global Capital Limited (66.15%)
JS Investments Limited (60.22%)
BankIslami Pakistan (53.49%)
JS Petroleum Limited (51%)
Websitejs.com
Footnotes / references
Financials as of 31 December 2023 [1]

Jahangir Siddiqui & Co. (Urdu: جہانگیر صدیقی اینڈ کمپنی) is a Pakistani financial services company, founded in 1971 by Jahangir Siddiqui, and is based in Karachi, Pakistan.[2] The company controls and operates financial services companies in Pakistan.

The services include asset management, commercial banking, company research, insurance, investment banking, Islamic banking, micro finance, and stock brokerage.[3][4]

JS & Co. also has investments throughout Pakistan's economy, in the industrial sector, technology and media sectors, commercial real estate, energy and natural resources. JS & Co has its headquarters in Karachi.[5]

History

Jahangir Siddiqui & Co. Ltd. was incorporated in 1991 as public unquoted company. The company is listed on the Pakistan Stock Exchange (PSX).

JS Group's principal activities are trading of securities, maintaining strategic investments, consultancy services, underwriting, etc. The company has a long term rating of AA (Double A) and short term rating of A1+ (A one plus) assigned to it by Pakistan Credit Rating Agency.[6][7] Jahangir Siddiqui & Co. Ltd. and its subsidiary companies are involved in trading of securities, maintaining strategic investments, investment advisory, brokerage, asset management, agency telecommunication, commercial banking, power generation and other businesses.[8] Jahangir Siddiqui & Co posted a profit (after tax) of Rs 1,060 million in 2014.[9]

JS Bank

Main article: JS Bank

JS Bank is a majority-owned subsidiary of Jahangir Siddiqui & Co. Ltd. and currently operates 323 branches in 161 cities, with a total asset base of Rs 112 billion in 2014.[9] It has a primary dealer license for government securities from the State Bank of Pakistan.[10] According to a press release, the long-term entity rating of JS Bank Limited (JSBL) has been promoted to 'AA−’ (Double A Minus) by Pakistan Credit Rating Agency (PACRA).[11] JS Bank was formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited and commercial banking operations of American Express Bank Ltd Pakistan.[12] JS Bank Limited commenced operations in Pakistan as a fully scheduled bank on 30 December 2006.[13] JS Bank's consolidated profits (after tax) for the year 2014 were Rs 1,060 million.[9]

Bank Islami

Dubai Bank was one of the founding shareholders of Bank Islami which invested 18.75% in the total capital. Bank Islami is the joint venture project of three groups namely Jahangir Siddiqui & Co. Pakistan, Randeree family, & Dubai Bank.[14] The State Bank of Pakistan issued a No Objection Certificate on 19 August 2004 and Bank Islami Pakistan Limited, the second full-fledge Islamic commercial bank in Pakistan, was incorporated on 18 October 2004 in Pakistan.[15]

In 2015, JS & Co. further invested in the bank.[16]

References

  1. ^ "Jahangir Siddiqui & Co. Annual Report 2023". Retrieved 29 August 2024.
  2. ^ Alam, Kazim (15 January 2012). "JS Group: the empire built by selling the family car". The Express Tribune. Retrieved 14 July 2018.
  3. ^ "Investment Banks/Investment Companies: JAHANGIR SIDDIQUI & COMPANY LIMITED – Year Ended June 30, 2006 (Audited)". 4 January 2007.
  4. ^ Hussain, Dilawar (9 April 2002). "Jahangir Siddiqui & Co: CORPORATE PROFILE". DAWN.COM.
  5. ^ "Jahangir Siddiqui & Co". Dawn. 16 November 2003.
  6. ^ The Pakistan Credit Rating Agency Limited. PACRA.
  7. ^ "Archived copy" (PDF). Archived from the original (PDF) on 4 April 2012. Retrieved 28 March 2012.{{cite web}}: CS1 maint: archived copy as title (link)
  8. ^ "Archived copy" (PDF). Archived from the original (PDF) on 4 April 2012. Retrieved 28 March 2012.{{cite web}}: CS1 maint: archived copy as title (link)
  9. ^ a b c Annual Report 2014 Retrieved 14 July 2018.
  10. ^ "JS Bank declared No 1 PDs". The Nation. 6 July 2012. Retrieved 14 July 2018.
  11. ^ "Pacra upgrades JS Bank ratings". The Nation. 30 June 2012. Retrieved 14 July 2018.
  12. ^ Hussain, Dilawar (9 April 2002). "Jahangir Siddiqui & Co: CORPORATE PROFILE". Dawn.
  13. ^ JS Bank Limited | Pakistan | Company Profile. Securities.com 30 December 2006. Retrieved 14 July 2018.
  14. ^ About Us. BankIslami. Retrieved 13 July 2018.
  15. ^ Bank Islami Pakistan Limited | Pakistan | Company Profile. Securities.com. Retrieved 14 July 2018.
  16. ^ "Jahangir Siddiqui & Co. Ltd. to invest Rs. 1.669 billion in BankIslami Pakistan Limited". The News International. 4 February 2015.