The profit after tax of Meezan Bank Limited has increased to Rs 1.651 billion in the quarter ended June 30, 2017 as compared to Rs 1.348 billion earned in the corresponding period in 2016. The earning per share of the bank increased to Rs 1.64 in the period under review against Rs 1.35 in the same quarter last year.
The board of directors of the bank recommended interim cash dividend for the half year ended June 30, 2017 at Rs 1.75 per share ie 17.5 percent. According to the financial results, the bank's profit/return earned on Islamic financing related assets, investments and placements increased to Rs 9.011 billion in this quarter against Rs 7.487 billion in the same quarter last year. The return on deposits and other dues expensed increased to Rs 3.655 billion against Rs 2.926 billion.
On half year basis, the bank's profit after increased to Rs 3.163 billion translating earning per share of Rs 3.15 in the six months period ended June 30, 2017 as compared to after tax profit of Rs 2.685 billion with EPS of Rs 2.68 in the same period in last year.
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