The profit after tax of Meezan Bank has increased to Rs 1.428 billion in the quarter ended September 30, 2016 as compared to Rs 1.273 billion earned in the corresponding quarter in 2015. The board of directors of the bank, in its meeting declared that the bank's earning per share surged to Rs 1.42 in the period under review against Rs 1.27 in the same period last year.
According to the financial results, the bank's profit/return on Islamic financing and related assets, investments and placements stood at Rs 7.688 billion in this quarter against Rs 7.980 billion in the same quarter last year while return on deposits and other due expenses reduced to Rs 3.125 billion against Rs 3.662 billion.
The bank's profit before taxation increased to Rs 2.199 billion in this quarter against Rs 1.975 billion in the same quarter last year. The bank's profit after for the nine month period ended September 30, 2016 increased to Rs 4.114 billion translating earning per share of Rs 4.10 as compared to PAT of Rs 3.950 billion with EPS of Rs 3.94 in the same period in 2015.
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