In the first quarter of 2022, Meezan Bank Limited surpassed Habib Bank Limited in terms of profitability, which ended on March 31, 2022.
In the first quarter of 2022, the bank made a profit of Rs. 9.2 billion, topping Habib Bank Limited’s profit of Rs. 8.5 billion in the same time.
The bank’s profit was almost same to UBL’s, which made Rs. 9.3 billion in the first quarter of 2022.
The earnings of Meezan Bank increased by 50% year on year to Rs. 6.1 billion, compared to Rs. 6.1 billion the previous year. The bank’s earnings per share have climbed from Rs. 3.75 to Rs. 5.66 at the end of March 2022.
The bank has also been involved in a number of financing programs and holds a significant stake in government-issued Sukuks.