Meezan Bank Posts Rs. 25 Billion Profit For Q1 2024

Meezan Bank Limited (PSX: MEBL) has announced a profit after tax (PAT) of Rs. 25 billion, depicting an increase of 65 percent YoY for the quarter that ended on March 31st, 2024 (1Q2024).

The bank’s earnings were bolstered by a YoY increase in income, according to Arif Habib Limited. However, when compared sequentially, there was a decline in income, which impacted the overall profitability on a QoQ basis.

Along with the result, MEBL announced a cash dividend of Rs. 7 per share.