Meezan Bank’s after tax profit soars to Rs45 billion

 

Meezan Bank’s after tax profit soars to Rs45 billion  

Meezan Bank Limited has declared an after tax profit of Rs45 billion for the year ended on December 31, 2022.

The profit soared by 59 per cent in comparison with Rs28.4 billion in the preceding year.

The Board of Directors of Meezan Bank has approved Rs 3 per share final cash dividend for the year 2022. This brings the total cash dividend payout for the year 2022 to Rs 8.50 (85 per cent) per.  

Deposits of the Bank increased by 14 per cent to Rs 1.66 trillion and it also added 60 new branches to its network bringing the total to 962 branches in 317 cities. The Bank’s Mobile Banking App remains the highest-rated Mobile App in the banking industry on both Google Play Store and Apple App Store.

Total assets of the Bank crossed Rs 2.5 trillion, registering a 35 per cent growth.

Meezan Bank remained the most valuable bank in Pakistan in terms of market capitalization amongst all the listed banks. The Bank has entity ratings at ‘AAA/A-1+’ (Triple A/ A-One Plus).