Meezan Bank Earns 30 % More Profit After Tax In Six Months

Meezan Bank has recorded 30 % increase in its profit after tax at Rs 4126 million for six months ending on June 30, 2018 against Rs 3,163 million of the corresponding period of last year.

KARACHI, (UrduPoint / Pakistan Point News - 6th Sep, 2018 ) :Meezan Bank has recorded 30 % increase in its profit after tax at Rs 4126 million for six months ending on June 30, 2018 against Rs 3,163 million of the corresponding period of last year.

Earnings per share also increased to Rs 3.88 and the bank also declared interim cash dividend of Rs 1.50 per share (i.e.

15%) and 10% bonus shares, maintaining the Bank's unbroken payout record since its listing on the Stock Exchange in the year 2000, said press release on Thursday.

Deposits crossed Rs 700 billion-growing by 19% over June 2017. Bank maintained its position as 7th largest bank in Pakistan (in both Islamic and Conventional banking) with a network of 602 branches in 160 cities of the country.

The bank's fee and commission income increased by 23% which was mainly driven by growth in trade business which grew by an impressive 44% over the corresponding period last year.