Meezan Bank profit down 12% to Rs22.42bn in 1QCY25
Meezan Bank (MEBL), the country's largest Islamic bank, posted consolidated profit after tax (PAT) of Rs22.42 billion for the quarter that ended March 31, 2025, down by 12% from Rs25.08 billion in the same period of the preceding year.
According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, earnings per share (EPS) clocked in at Rs12.32 for the period as compared to Rs13.93 in 1QCY24.
The Board of Directors of the bank also announced a cash dividend for the period ended March 31, 2025 at Rs7 per share i.e. 70%.
Meezan Bank's profit up nearly 91% in 2023
The bank's net profit/return earned on Islamic financing and related assets, investments and placements declined by over 8% to Rs61.78 billion.
'This decline in spread is due to a decrease in interest rates, along with the imposition of the Minimum Deposit Rate (MDR) on the individual portfolio,' brokerage house Topline Securities said.
The fee and commission income earned by the bank during the period amounted to Rs7.2 billion, an increase of over 22% against Rs5.91 billion earned in the same period last year.
The foreign exchange income of the firm showed a significant increase of over 230% from Rs478 million in 1QCY24 to Rs1.60 billion in 1QCY25.
The total income earned by Meezan Bank declined by 4.3% as it decreased to Rs71.02 billion in 1QCY25 from Rs74.22 billion in 1QCY24.
During 1QCY25, the bank's operating expenses amounted to Rs19.17 billion, down 7% against Rs20.60 billion in the same period last year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
18 hours ago
- Express Tribune
PSX closes flat over Israel-Iran tensions
Listen to article Pakistan Stock Exchange (PSX) closed flat on Friday as investors remained cautious amid ongoing uncertainty about the Israel-Iran conflict. After opening on a positive note, driven by reports that the Trump administration may delay its decision on taking action in the Middle East by two weeks, the benchmark KSE-100 index touched the intra-day high of 120,829 points. However, it later succumbed to profit-taking, settling marginally higher by 21 points at 120,023. Key support at the 120k level held firm throughout the week despite volatile sessions. "Stocks closed lower on fears of an escalation in Middle East tensions," said Ahsan Mehanti, Managing Director of Arif Habib Corp. Weak rupee and a slump in global equities fuelled panic selling at the PSX, he said. At the end of trading, the benchmark KSE-100 index posted a slight gain of 20.65 points, or 0.02%, and settled at 120,023.24. Topline Securities, in its review, wrote that the KSE-100 index, after opening on a positive note, traded in the positive zone for most part of the session on news that the Trump administration had decided to exercise restraint and would decide on US action in the Israel-Iran conflict within two weeks. However, due to the lack of confidence, the index came down during latter hours to close flat at 120,023, up 0.02%. Top positive contribution to the index came from Hub Power, Systems Limited, UBL, OGDC, Maple Leaf Cement and Pakistan Petroleum as they cumulatively added 168 points. On the flip side, top negative contributors were Pakgen Power, TRG Pakistan, Fauji Fertiliser Company, Pakistan Services, Engro Fertilisers and MCB Bank, which erased 180 points from the index, Topline said. "It was another volatile session that ended with thin change," noted Ali Najib, Deputy Head of Trading at Arif Habib Limited, as the benchmark index closed marginally higher at 120,023 (+21 points). It is pertinent to note that the 120k level has so far proved to be a saviour throughout the week. He pointed out that the market opened on a positive note, driven by media reports suggesting a possible de-escalation in the Israel-Iran conflict. However, profit-taking in the final hour, ahead of the weekend, erased early gains as short-term investors squared off their positions, Najib added. Mubashir Anis Naviwala of JS Global commented that the market started the session on a weak note, with sentiment remaining cautious throughout the day. After touching the intra-day high of 120,829, the index dropped to the low of 119,872 amid profit-taking. However, the positive takeaway was that the index managed to close above the 120,000 psychological mark, he said. Overall trading volumes were recorded at 421.6 million shares compared with the previous tally of 604.5 million. The value of shares traded was Rs15.7 billion. Shares of 468 companies were traded. Of these, 178 stocks closed higher, 245 fell and 45 remained unchanged. WorldCall Telecom was the volume leader with trading in 42.8 million shares, losing Rs0.04 to close at Rs1.45. It was followed by TRG Pakistan with 26.7 million shares, losing Rs5.12 to close at Rs56.68 and Pervez Ahmed Consultancy with 25.5 million shares, losing Rs0.25 to close at Rs2.84. During the day, foreign investors sold shares worth Rs69.3 million, according to the NCCPL.
Business Recorder
18 hours ago
- Business Recorder
PSX records mixed day with declining turnover
KARACHI: The Pakistan Stock Exchange (PSX) experienced a mixed trading session on the last trading day of the week due to ongoing conflict between Iran-Israel. On Friday, the KSE 100 Index slightly increased by 20.65 points or 0.02 percent to settle at 120,023 points on Friday up from 120,002 points a day earlier. Topline Securities cited that KSE 100 index, after opening on a positive note, traded in positive zone during the most part of the trading session on news that the Trump administration has decided to exercise restraint and will decide on US action in the Israel-Iran conflict within two weeks. However, due to lack of confidence surrounding the conflict, the KSE 100 Index came down during the latter hours of the trade to close on a slight increase of 0.02 percent. BRIndex100 closed at 12,933.06 points, up 10.02 points or 0.08 percent, with a total volume of 300.5 million shares, while BRIndex30 settled at 37,083.96, gaining 110.34 points or 0.3 percent, with a total volume of 206.8 million shares. Top positive contributions to the index came from HUBC, SYS, UBL, OGDC, MLCF and PPL, as they cumulatively contributed 168 points to the index. Whereas top negative contribution to the index came from PKGP, TRG, FFC, PSEL, EFERT and MCB, as they cumulatively contributed 180 points minus to the index. In the Ready Market, out of 468 companies, 178 advanced, 245 declined, and 45 remained unchanged. The turnover for the regular market stood at 421.64 million, a decrease from the previous day's 604.54 million. The traded value also saw a significant drop to 15.65 billion from 20.44 billion previously. Despite this, the market capitalization in the regular market experienced a slight increase of Rs 13 Billion, reaching 14.536 trillion from 14.523 trillion. Leading the Turnover in the Ready Market was WorldCall Telecom with 42.79 million shares traded, closing at Rs 1.45. TRG Pak Ltd followed closely with a turnover of 26.66 million, closing at Rs 56.68. Moreover, Pervez Ahmed Co closed at Rs 2.84 with 25.52 million shares changing hands. Among companies reflecting an increase in rates, notable advancers in the Ready Market included Macter International Limited, which saw a significant rise of Rs 56.53 to close at Rs 621.82. Other top gainer was Hoechst Pakistan Limited, increasing by Rs 47.74 to close at Rs 3,198.50. Conversely, PIA Holding Company LimitedB saw a substantial decrease of Rs 1,239.31 to close at Rs 11,153.83 and Pakistan Services Limited lost Rs 47.41 to close at Rs 941.11. The BR Automobile Assembler Index closed at 20,237.63 points, losing 42.04 points or 0.21 percent with a turnover of 1.5 million shares, while the BR Cement Index ended at 10,211.56 points, gaining 81.1 points or 0.8 percent with 30.7 million shares traded. The BR Commercial Banks Index settled at 36,672.62 points, up 17.67 points or 0.05 percent on a volume of 17.4 million shares, and the BR Power Generation and Distribution Index fell by 82.71 points or 0.4 percent to close at 20,421.96 points with a turnover of 20.5 million shares. Meanwhile, the BR Oil and Gas Index rose 46.75 points or 0.41 percent to 11,560.78 points with 25 million shares changing hands, and the BR Technology and Communication Index declined by 58.07 points or 2.04 percent to close at 2,791.54 points with a volume of 88.9 million shares. Ahsan Mehanti of Arif Habib Corporation said that stocks showed recovery as receding fears over the Israel-Iran conflict, following the White House's decision to delay its stance on US involvement, boosted investor sentiment. He added that renewed investor interest, particularly in blue-chip oil stocks, also supported the market's upward momentum. This positive trend was further driven by developments on the economic front, as investors weighed the federal cabinet's approval of a Rs1.275 trillion bank loan under the circular debt management plan and ongoing government deliberations over the privatization of state-owned enterprises, both of which played a catalytic role in the PSX's positive close. Copyright Business Recorder, 2025
Express Tribune
19 hours ago
- Express Tribune
SBP injects Rs14tr to bridge gaps
Listen to article The State Bank of Pakistan (SBP) conducted one of the highest Open Market Operations (OMOs) on June 20, 2025, injecting liquidity worth a substantial Rs14.3 trillion into the banking system to meet temporary and structural liquidity requirements. According to official data, the SBP accepted Rs13.93 trillion through a conventional reverse repo (injection) at a rate of return of 11.03% per annum across 36 quotes. Additionally, a Shariah-compliant Mudarabah-based OMO injection of Rs375 billion was executed at a return of 11.11% per annum with three accepted quotes. Sana Tawfiq, Head of Research at Arif Habib Limited termed this "among the highest single-day OMOs by the central bank," attributing the surge to both temporary and permanent factors. She noted that currency in circulation typically rises ahead of Eid, creating a temporary liquidity gap. On the structural side, debt repayments and a time lag between repayments and fresh inflows are elevating liquidity needs, she explained. She added that the government's fiscal deficit financing — constrained by International Monetary Fund (IMF) conditions that bar direct borrowing from the SBP — has further amplified OMO reliance, with banks channelling funds into government securities instead. Market experts expect the liquidity injections to remain elevated in the near term until inflows match outflows and post-Eid cash demand normalises. Furthermore, the Pakistani rupee extended the declining trend against the US dollar in the interbank market on Friday, slipping by 0.02%. By the close of trading, the local currency settled at 283.70 against the greenback, down by six paisas from the previous day's closing rate of 283.64. Globally, the US dollar was on track for its largest weekly gain in over a month, supported by safe-haven demand as investors remained cautious over escalating tensions in the Middle East and their potential impact on the global economy. Meanwhile, gold prices in Pakistan fell on Friday in line with the international market, which remained steady but on track for a weekly loss as investors awaited clarity on the Israel-Iran conflict after US President Donald Trump delayed a decision on possible involvement. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola dropped by Rs1,595 to settle at Rs357,000. Similarly, the rate for 10 grams of gold declined by Rs1,368 to Rs306,069. Internationally, gold prices were steady on Friday and poised for a weekly loss after President Trump delayed a decision on entering the Israel-Iran conflict, according to Reuters. Spot gold was little changed at $3,369.63 an ounce, as of 1557 GMT. Adnan Agar, Director of Interactive Commodities said gold prices remained range-bound on Friday, with the metal trading between $3,340 and $3,375 in the international market, as investors awaited clarity on geopolitical developments in the Middle East. He told The Express Tribune that the market has been on a downward trend for the past five trading sessions, with a key support level identified at $3,320.
