Meezan Bank Announces 32 Percent Growth For Nine Months

Meezan Bank Limited, showing excellent performance over nine months; ending on September 30, 2018, has declared 32 percent increase in profit after-tax Rs 6,248 million from Rs 4,717 million of the corresponding period of the last year.

KARACHI, (UrduPoint / Pakistan Point News - 25th Oct, 2018 ) :Meezan Bank Limited, showing excellent performance over nine months; ending on September 30, 2018, has declared 32 percent increase in profit after-tax Rs 6,248 million from Rs 4,717 million of the corresponding period of the last year.

The bank also recorded Rs 5.88 earning per share, said a press release on Thursday.

Presided over by Chairman of the board of directors S.A.A Edress, the meeting approved the unconsolidated condensed interim financial statements of the bank and its consolidated financial statements for the period of nine months.

The deposits of the bank grew by six percent and closed at Rs 711 billion.

Islamic financings and related assets grew by five per cent from December 2017 and closed at Rs 411 billion and the advance to deposit ratio stood at 62 percent.

The bank maintained its financing exposure in all sectors and continued to actively pursue growth in small and medium enterprise (SMEs); commercial and consumer segment. With a well-diversified product base, the bank is well positioned to cater to all financing needs of our customers in a Shariah compliant manner.