Karachi April 26 2022: Meezan Bank Limited (MBL) earned more profit than Habib Bank Limited (HBL) during 1Q 2022 but fails to cross United Bank Limited (UBL), according to information available at Pakistan Stock Exchange.
Meezan Bank, the premier Islamic Bank, earned profitability of Rs 9.2 billion in 1Q 2022 when compared with profitability of Rs 6.1 billion in 1Q 2021, as per company filling to the exchange. Along with the results, the Bank declared a dividend of Rs. 1.75 per share (17.5%).
Earlier, HBL declared a consolidated profit after tax of Rs. 8.6 billion for the first quarter of 2022 and a profit, higher than in the same period last year. HBL Q1’22 results include a one-time severance charge of Rs. 2.6 billion. Excluding the impact of this one-time charge, the Bank’s profit before tax is 18% more than in Q1’21. Along with the results, the Bank declared a dividend of Rs. 2.25 per share (22.5%).
UBL posted profitability of Rs 9.4 billion in 1Q 2022 when compared with profitability of Rs 7.5 billion in 1Q 2021, according to Banks filling to the exchange. UBL also declared the highest amount of dividend with disbursement of Rs. 5.00 per share (50.0%).