KARACHI: Meezan Bank Ltd’s quarterly (Jan-March) earnings have surged by 18.72 per cent to Rs1.313 billion (profit-after-tax) from Rs1.106 billion in the same period last year.
The earnings per share (eps) stood at Rs1.31 as compared to Rs1.10 in the same period last year as deposits also rose to Rs391 billion, up 2.9% from the end of 2014.
Total provisioning expense also declined by 34% to Rs325 million because of improving recoveries of non-performing loans. Other income of the bank declined 15% on a quarterly basis to Rs1.1 billion due to lower capital gains and dividend income.
