All time high interest rates in Pakistan at 21% (now 19.5%) have immensely improved banking income. As money has become expensive it has lowered demand for loans by businesses and people which has allowed banks to invest in lucrative government bonds.
Meezan Bank (PSX:MEBL) normally gave out Rs 2 dividend or 10% bonus shares or both at the Half Year stage but this time it has given a generous Rs 7 dividend which has really made a lot of investors really really happy and rich.
Net income has increased by nearly 40% and EPS has increased by 1.5x.
You can read the complete financial statement here
Amazing progress of Meezan Bank from Rs 84 to Rs 242 in the past 1 year.
Meezan Bank announces an unbelievable Rs 7 dividend for HY-2024-25