Meezan Bank declares Rs22.16 billion after tax profit

Meezan Bank declares Rs22.16 billion after tax profit

KARACHI: Meezan Bank Limited (MBL) on Thursday announced Rs22.16 billion profit after tax for the year ended December 31, 2020.

The bank registered 45.5 percent increase in profit for the year when compared with profit of Rs15.23 billion in the preceding year.

The bank said profit/return earned from Islamic financing and related assets, investment and placements increased to Rs106.59 billion for the year ended December 30, 2020 when compared with Rs94.27 billion in the preceding year.

The bank’s net spread earned increased to Rs64.85 billion for year under review as compared with Rs46.54 billion in the preceding year.

The bank said that gain on securities increased to Rs683 million when compared with previous year’s loss of Rs417.6 million

Total income of the bank increased to Rs74.9 billion when compared with Rs55.86 billion.

Operating expenses of the bank increased to Rs28.8 billion for the year ended December 31, 2020 when compared with Rs24.83 billion in the preceding year.

The bank declared earnings per share at Rs15.67 for the year as compared with Rs10.77 in the last year.

Leave a Reply

You have to agree to the comment policy.