Meezan Bank plans entry into credit cards by CY27

April 8, 2026 (MLN): Meezan Bank Limited (PSX:MEBL) has placed for Shariah board approval for the launch of  credit cards, with system configuration currently underway and a full rollout planned by CY27.

The development marks a significant product expansion for Pakistan's leading Islamic bank, which shared the update during its CY25 corporate briefing session.

On the earnings front, the bank reported net profit of Rs89bn (EPS: Rs49.5) for CY25, reflecting a 12% year-on-year decline from Rs101.5bn (EPS: Rs56.4) recorded in CY24.

Despite the earnings softness, the bank demonstrated strong deposit momentum, clocking 28% growth during the year, with management guiding a sustainable growth trajectory of 20%-25% going forward.

MEBL's CASA mix remained robust at 91%, with management reaffirming its commitment to keeping the ratio above 90%.

The cost-to-income ratio stood at 30.4%, with the bank targeting a near-term ceiling of 40%.

Capital adequacy remained well-cushioned at 19.2%, comfortably above the regulatory minimum of 11.5%.

On the expansion front, the bank plans to add 100-150 new branches in CY26, scaling up from its existing network of 1,105 branches.

Fee income from debit cards came in at Rs9,086mn, down from Rs9,571mn in CY24, a deliberate outcome of the bank's strategy to aggressively push debit card adoption, which temporarily weighed on related fee revenues.

Subsidiary Al Meezan Investment delivered a strong performance, contributing a profit after tax of Rs4.2bn for the year, with an impressive return on equity of 76.4%.

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