Meezan bank s profit after tax increases

Tuesday, 09 February 2010 11:51

KARACHI : The profit after tax of Meezan Bank Limited has increased to Rs 1,025.351 million in the year ended December 31, 2009 as compared to Rs 621.187 million earned in the corresponding period in 2008. The earning per share of the bank has increased to Rs 1.71 in the period under review against Rs 1.22 recorded in the same period a year back.

The board of directors of the bank in its meeting held on February 5, 2010 in Dubai, UAE, has recommended issuing bonus shares in the proportion of five ordinary shares for every 100 ordinary shares held, ie, five percent.

According to the financial results, the bank s profit/return earned on financing, investment and placements increased to Rs 10.102 billion in this period against Rs 6.803 billion in the same period last year. The return on deposits and other due expensed stood at Rs 4.969 billion against Rs 3.088 billion. The bank s profit before tax increased to Rs 1,739.723 million in 2009 against Rs 992.311 million registered in 2008.

Courtesy : Business Recorder