Meezan Bank Limited has achieved 130 per cent growth in its profit-after-tax that stood at Rs2.292 billion for the nine-month period ending on 30th September 2011 as compared to Rs995 million earned in the corresponding period last year. The largest Islamic bank in Pakistan has announced impressive growth in profitability, deposits and total assets. The accounts were approved by the Board of Directors of Meezan Bank in its 54th meeting held on 30th October here at the bank’s new Head Office, presided by Sheikh Ebrahim Bin Khalifa Al-Khalifa, Chairman of the Board.
Earning per share (EPS) increased to Rs2.85 from Rs1.24 during the same period under review. Meezan Bank’s total assets crossed Rs179 billion during the same period. Deposits have also increased from Rs131 billion in December 2010 to Rs151 billion in September 2011, an increase of 16 per cent which is significantly better than the growth in deposits recorded by the banking sector for this quarter. The board also inaugurated the bank’s impressive new head office, which now houses approximately 400 staff.
