Earnings: Meezan Bank posts Rs586m profit

KARACHI: Meezan Bank recorded a net profit of Rs586 million for the quarter ended March 31, 2011 as compared to Rs364 million in the corresponding quarter last year, showing a 61 per cent growth.

The bank’s board of directors, in a meeting held recently, approved financial statements for the quarter ended March 31, a press statement said on Monday. Earnings per share (EPS) increased to Rs0.73 as compared to Rs0.45 last year.

A 15 per cent bonus, approved by shareholders in the annual general meeting held in March, enhanced paid-up capital of the bank, which now stands at Rs8 billion, meeting the State Bank of Pakistan’s minimum capital requirement.



Published in The Express Tribune, May 3^rd, 2011.