Meezan Financial institution recorded an excellent 12 months of profitability in 2019 with its progress recorded at nearly 70% in comparison with the earlier 12 months.
In line with monetary outcomes, the financial institution’s revenue after tax surged to Rs. 15.232 billion in 2019 as in comparison with Rs. eight.96 billion registered in the entire of 2018.
Incomes per share surged to double-digits from Rs. 6.97 to Rs. 11.84 – a primary for the financial institution. The shareholders of the financial institution will obtain a dividend of Rs.2 per share along with Rs. three already acquired within the earlier quarters.
The financial institution posted good-looking progress in its earnings web unfold and revenue on securities, fee earnings, dividends, and overseas alternate earnings.
The online unfold earned elevated to Rs. 46.5 billion in 2019 from Rs. 28.1 billion in 2018.
The financial institution has been energetic in collaborating within the government-issued Sukuk’s all year long together with a Rs. 200 billion Power Sukuk. It additionally performed a number one function in designing and arranging monetary devices for the federal government and the privately-placed securities.
For the primary time in its historical past, the financial institution crossed the Rs. 10 billion and Rs. 15 billion milestones of profitability.
By the tip of the third quarter of 2019, Meezan Financial institution improved its rating among the many most worthwhile banks in Pakistan by three positions to face at fifth.