Corporate results: Meezan Bank records 16.5% growth in profit
Earnings per share of the bank increased to Rs2.25 in contrast with Rs1.93 at the end of June 2013.
KARACHI:
Meezan Bank has recorded 16.5% growth in its after-tax profit, which increased to Rs2.25 billion in January-June as opposed to Rs1.93 billion earned in the corresponding six-month period of 2013.
Pakistan’s eighth largest bank in terms of its branch network Meezan Bank is the first and the largest Islamic bank operating in Pakistan.
Published in The Express Tribune, July 29th, 2014.
Meezan Bank has recorded 16.5% growth in its after-tax profit, which increased to Rs2.25 billion in January-June as opposed to Rs1.93 billion earned in the corresponding six-month period of 2013.
Earnings per share of the bank increased to Rs2.25 in contrast with Rs1.93 at the end of June 2013.
According to a notice sent to the Karachi Stock Exchange on Monday, the bank’s board of directors also approved an interim cash dividend of Rs1.50 per share, or 15% of the share’s face value.
Meezan Bank achieved a deposit base of Rs318 billion at the end of the six-month period as opposed to Rs290 billion recorded on December 31, 2013. This translates into a growth rate of almost 10%.
Pakistan’s eighth largest bank in terms of its branch network Meezan Bank is the first and the largest Islamic bank operating in Pakistan.
Published in The Express Tribune, July 29th, 2014.