Corporate Result: MEBL earnings surged by 69%

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Meezan Bank Limited (PSX: MEBL) has announced the Financial results for the 3rd Quarter ended March 31, 2020, whereby it has reported Profit After Tax of Rs. Rs. 4.94 billion showing a massive increase of 69% YoY as compared to the profits of last year.

The company also announced the Earnings of Rs. 3.91 for the 3rd Quarter period ended March 31, 2020.

During the quarter, the bank managed to retain profits mainly on the back of Net Interest Income which surged by 66% YoY to Rs. 14.7 Bn.

The substantial rise in the latter was a result of aggressive growth in Foreign exchange income by 131% to Rs. 963.1 Mn.

MEBL – 3rd Quarter

EPS 2020 = 3.91 PKR
EPS 2019 = 2.31 PKR

Cash Dividend = NIL
Bonus Share = NIL