Meezan Bank's net profits jump by 58% for CY18

Dec-18

Dec-17

% Change

Profit/return earned on Islamic Financing and related assets, investments and placements

48,629,139

36,434,663

33.47%

Profit on deposits and other dues expensed

20,453,359

15,681,641

30.43%

Net spread earned

28,175,780

20,753,022

35.77%

OTHER INCOME

Fee and commission income

6,822,735

6,030,008

13.15%

Dividend income

242,429

287,977

-15.82%

Foreign Exchange Income

1,318,460

1,210,827

8.89%

(Loss) / gain on securities - net

-39,376

939,266

Unrealised loss on held for trading investments

-1,708

Other income

313,486

387,460

-19.09%

8,657,734

8,853,830

-2.21%

Total income

36,833,514

29,606,852

24.41%

OTHER EXPENSES

Operating expenses

19,787,222

17,125,835

15.54%

Workers Welfare Fund

383,801

290,837

31.96%

Other charges

16,419

10,824

51.69%

Total other expenses

20,187,442

17,427,496

15.84%

16,646,072

12,179,356

36.67%

Share of results of associates before taxation

-298,031

-963,186

-69.06%

Profit Before Provisions

16,348,041

11,216,170

45.75%

Provisions and write offs

1,168,051

1,283,326

-8.98%

Extraordinary / unusual items

PROFIT BEFORE TAXATION

15,179,990

9,932,844

52.83%

Taxation

6,046,080

4,152,851

45.59%

PROFIT AFTER TAXATION

9,133,910

5,779,993

58.03%

Basic and diluted earnings per share

7.66

4.95

54.75%