Meezan Bank Limited recorded a 9% growth in its profit-after-tax of first quarter ended March 31, 2013 which increased to Rs 982 million compared to Rs 903 million earned in the corresponding period of 2012. A statement on Thursday said that the earnings per share (EPS) of the bank increased to Rs 0.98 (March 2012: Rs 0.90) on the enhanced share capital of Rs 10 billion. Deposits of the Bank grew to Rs 235 billion as at March 31, 2013 which stood at Rs 230 billion in December 2011. Meezan Bank Board of Directors approved the financial statements of the bank for the quarter ended March 31, 2013, in a meeting held in Dubai on April 30, 2013. Chairman of the Board Sheikh Ebrahim Bin Khalifa Al-Khalifa presided the meeting that was also attended by Vice Chairman Abdullateef A Al-Asfour and other directors. The statement further pointed out that the increase in profit has been achieved despite the monetary easing of 400 basis points by the State Bank of Pakistan (SBP) during the last 18 months.
