Meezan Bank maintained a remarkable profitability journey in 2020, which surged to Rs. 22.6 billion, the highest ever profit in its history.
According to the financial results, the bank recorded profit growth of 43 percent year-on-year or Rs. 6.9 billion from 2019’s profit which stood at Rs. 15.77 billion.
The bank earned a handsome spread of Rs. 64 billion in 2020 as compared to Rs. 46 billion reported in 2019. It earned over Rs. 10 billion through other avenues, including fee commissions, foreign exchange income, and gain on securities.
The bank’s earnings per share increased to Rs. 15.83 from Rs. 11.20 of the last year. The company paid a dividend of 2 per share in addition to Rs. 4 per share already paid to shareholders.
ALSO READ
Deposits of Meezan Bank and Bank Al- Habib Cross Rs. 1 Trillion
Meezan Bank is one of the most active banks in the banking industry, leading the Islamic banking industry in various areas. The bank received the highest amount of deposits and investment from overseas Pakistanis in Roshan Digital Accounts (RDAs).
The Islamic bank remained the market leader in terms of participation in Government and private Sukuks and various financing instruments.
The bank’s assets and deposits surged to over Rs. 1.5 trillion. The bank is operating with more than 800 branches countrywide.
