Meezan Bank Limited (MEBL) announced its Half Year 2021 Financial Results with a Net profit of PKR 12.6 billion for the Half ended June 2021, up from PKR 11.6 billion from the same period of the previous year.
The bank posted a profit which was 8% higher year on year. Accordingly, Earnings per share (EPS) stood at PKR 8.91 for Jan-June.
Meezan Bank also declared an interim cash dividend of PKR 1.50/Share, taking the total Dividend payout to Rs3 per share in 2021.
The bank also announced bonus shares’ issue of 15%.
Profit remained better than Analysts’ expectations, as Meezan Bank marked a strong growth in fees and commissions. Core Earnings on Core Banking Operations remained muted as Net Spread earned marked a 3.5%YoY decline in 1H2021. Full Result can be accessed here.
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