[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Meezan Bank Limited’s Board of Directors has approved the bank’s financial statements for the quarter ended March 31, 2023.
According to the financial results, the bank’s profit after tax increased by 68 percent to Rs. 15.4 billion from Rs. 9.2 billion in the same period last year. This is the highest profit ever made by a Pakistani bank in the first quarter.
In March 2022, basic earnings per share increased to Rs. 8.62 per share from Rs. 5.14 per share. The Board of Directors approved a Rs. 3 interim cash dividend per share for the first quarter of 2023.
Also Read: PTCL reports 188% profit increase in Q1 of 2023
The bank has a capital adequacy ratio of 18.15 percent, which is significantly higher than the regulatory minimum of 12.00 percent. In terms of market capitalization, the bank is the most valuable bank in Pakistan among all listed banks.
Meezan Bank is one of Pakistan’s largest banks in terms of deposits, with a total of Rs. 1.79 trillion. Current account deposits accounted for 51% of total deposits (Rs. 918 billion), while current and savings account (CASA) deposits accounted for 88% of total deposits (Rs. 1.6 trillion).
The bank also maintained its leadership position in Roshan Digital Account (RDA), with a market share of 25% of total RDA inflows in Pakistan’s banking industry.[/vc_column_text][/vc_column][/vc_row]
