Karachi: Meezan Bank Limited has achieved 130 % growth in its Profit-after-tax that stood at Rs. 2,292 million for the nine month period ended September 30, 2011 as compared to Rs. 995 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 October 30, 2011 at the Bank’s new Head Office in Karachi, presided by Sheikh Ebrahim Bin Khalifa Al-Khalifa, Chairman of the Board.
Earning per share (EPS) increased to Rs 2.85 from Rs. 1.24 during the same period under review. Meezan Bank’s total assets crossed Rs 179 billion during the same period. Deposits have also increased from Rs. 131 billion in December 2010 to Rs 151 billion in September 2011, an increase of 16 % which is significantly better than the growth in deposits recorded by the Banking sector for this quarter.
The Board also inaugurated the Banks impressive new Head Office, which now houses approximately 400 staff. A flag-hoisting ceremony was conducted on the occasion by Sheikh Ebrahim Bin Khalifa Al-Khalifa, Chairman of Meezan Bank’s Board & M. A. Rauf Siddiqui, Minister of Industries and Commerce, Government of Sind. All members of Meezan Bank’s Board, including the Vice Chairman Abdullateef A. Al-Asfour planted trees at the premises to commemorate the occasion of their first visit to the Bank’s new Head Office Building.
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