Meezan Bank Limited (PSX: MEBL)

Meezan Bank Income Statement

Financials in millions PKR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	505,784	431,821	232,245	110,077	106,594	94,279
Interest Income on Investments	681.76	635.02	629.48	542.47	241.54	276.46
Total Interest Income	506,465	432,456	232,875	110,620	106,836	94,555
Interest Paid on Deposits	219,233	205,327	110,426	41,172	41,765	47,746
Net Interest Income	287,232	227,128	122,449	69,448	65,071	46,809
Net Interest Income Growth (YoY)	43.66%	85.49%	76.32%	6.73%	39.01%	64.72%
Gain (Loss) on Sale of Assets	451.99	451.99	215.77	149.41	155.48	100.94
Gain (Loss) on Sale of Investments	451.67	-698	-100.18	536.39	752.57	-428.78
Other Non-Interest Income	25,647	22,737	18,374	14,022	9,366	10,123
Total Non-Interest Income	26,551	22,491	18,490	14,708	10,274	9,795
Non-Interest Income Growth (YoY)	39.18%	21.64%	25.71%	43.16%	4.89%	19.52%
Revenues Before Loan Losses	313,783	249,620	140,939	84,156	75,345	56,604
Provision for Loan Losses	4,525	7,040	4,177	992.83	8,210	4,186
Revenue	309,258	242,579	136,762	83,163	67,135	52,418
Revenue Growth (YoY)	45.77%	77.37%	64.45%	23.88%	28.08%	47.88%
Salaries and Employee Benefits	4,037	3,246	1,634	829.25	895.82	628.46
Selling, General & Administrative	4,469	4,342	2,910	2,363	1,722	1,737
Other Non-Interest Expense	81,018	65,144	44,321	32,737	27,640	23,799
Total Non-Interest Expense	87,065	71,061	48,952	35,878	29,890	25,863
EBT Excluding Unusual Items	222,194	171,519	87,810	47,285	37,245	26,554
Asset Writedown	-300	-300	-	-	-	-
Other Unusual Items	848.23	848.23	994.73	691.35	545.14	423.56
Pretax Income	222,742	172,067	88,805	47,977	37,790	26,978
Income Tax Expense	116,832	86,044	43,664	19,469	15,115	11,198
Earnings From Continuing Operations	105,910	86,023	45,141	28,508	22,675	15,780
Minority Interest in Earnings	-766.62	-592.59	-204.56	-280.03	-278.11	-195.2
Net Income	105,144	85,431	44,937	28,228	22,397	15,584
Net Income to Common	105,144	85,431	44,937	28,228	22,397	15,584
Net Income Growth	40.40%	90.11%	59.19%	26.03%	43.71%	73.98%
Basic Shares Outstanding	1,792	1,790	1,790	1,790	1,790	1,790
Diluted Shares Outstanding	1,801	1,792	1,790	1,790	1,790	1,790
Shares Change (YoY)	0.54%	0.11%	0.04%	0.00%	-0.00%	-
EPS (Basic)	58.67	47.72	25.11	15.77	12.51	8.71
EPS (Diluted)	58.38	47.66	25.10	15.77	12.51	8.71
EPS Growth	39.67%	89.88%	59.16%	26.01%	43.71%	73.98%
Dividend Per Share	29.000	20.000	8.180	5.091	4.743	3.528
Dividend Growth	93.33%	144.50%	60.68%	7.34%	34.44%	54.29%
Effective Tax Rate	52.45%	50.01%	49.17%	40.58%	40.00%	41.51%

Source: S&P Capital IQ. Banks template. Financial Sources.