Meezan Bank Briefly Crosses Rs. 1 Trillion Market Cap

Meezan Bank Limited (PSX: MEBL) became the first Islamic bank in Pakistan’s history to briefly cross a market capitalization of Rs. 1 trillion during intraday trading on Wednesday, marking a major milestone for the country’s Islamic banking industry.

The bank’s share price closed at an all-time high of Rs. 553.45, gaining 7.2 percent in a single session. While its market capitalization briefly crossed the Rs. 1 trillion mark during trading, it settled at Rs. 996.5 billion at market close.

The milestone comes amid a sustained rally in Meezan Bank’s stock over the past year. The bank’s market capitalization has climbed from around Rs. 630 billion in July 2025 to nearly Rs. 1 trillion.

In a research report released this week, Topline Securities described Meezan Bank’s sector-leading profitability, superior asset quality, and one of the lowest operating cost structures in the banking industry.

The brokerage expects the bank to maintain a return on equity (ROE) of around 32-33 percent over 2026-2028, supported by its low-cost deposit base and efficient operations. It also noted that Meezan Bank’s cost-to-income ratio stood at around 31 percent in 2025, significantly below the banking industry’s average of 47 percent.

Topline further highlighted that Meezan Bank has steadily expanded its footprint over the past decade, doubling its market share in both deposits and advances. Between 2015 and 2025, its deposit market share increased from 4.8 percent to 8.6 percent, while its share of advances grew from 4.8 percent to 11.5 percent, making it one of the fastest-growing banks in the country.

The report also notes that Meezan Bank has consistently outperformed its peers on key financial metrics. It recorded the highest return on average equity among major listed banks in 2025, maintained one of the industry’s lowest gross infection ratios at around 2 percent, and ranked among the leaders in capital adequacy and asset quality.

With Wednesday’s rally, Meezan Bank came within touching distance of ending the trading session with a Rs1 trillion valuation, becoming the first Islamic lender in Pakistan to achieve the milestone during market hours.