KARACHI - Meezan Bank Limited has earned profit-after-tax of Rs. 3.5 billion in 2012 compared to Rs 3.4 billion recorded last year. The Earnings per Share (EPS) increased to Rs 3.88 from Rs. 3.75 for 2011.
The Board recommended issue of 11pc bonus shares for the year 2012.
This declaration together with the earlier cash dividend of 15pc paid in August 2012 brings the total payout for the year to 26pc (2011: 22.5pc) and maintains the Bank’s unbroken payout record since its date of listing on the Stock Exchange.
The bonus issue will increase the bank’s paid up capital to Rs. 10 billion and the Bank will meet SBP’s minimum capital requirement for 2013 of Rs 10 billion a year in advance.
The Board of Directors’ of Meezan Bank Limited in its meeting held at Karachi on February 19, 2013 approved the financial statements of the Bank for the year ended December 31, 2012. The meeting was presided by Sheikh Ebrahim Bin Khalifa Al-Khalifa, Chairman of the Board. Vice Chairman of the Board Abdul Lateef A. Al-Asfour also attended the meeting.