Meezan Bank Limited posted a profit after tax of Rs. 48.1 billion during the first half of 2026, supported by higher net profit earned and stronger non funded income, while the bank also declared an interim cash dividend of Rs. 8 per share.
Profit after tax for the January to June period rose to Rs. 48.64 billion, compared with Rs. 47.14 billion a year earlier. Earnings per share increased to Rs. 26.71 from Rs. 25.97, according to Arif Habib Limited (AHL). The H1 profit before tax was Rs. 103 billion, while tax paid was Rs. 54.6 billion.
For the second quarter alone, profit after tax stood at Rs. 25.79 billion, or Rs. 14.32 per share, up 5 percent from a year earlier and 16 percent from the previous quarter, AHL said.
According to the brokerage, earnings momentum was primarily driven by growth in net profit earned and a significant contribution from non funded income. Non funded income increased 29 percent year over year to Rs. 11.88 billion, supported by fee income of Rs. 8.8 billion, up 28 percent, and foreign exchange income of Rs. 2.5 billion, which more than doubled from a year earlier.
Net profit earned reached Rs. 128.80 billion during the first half, while provision expenses rose 42 percent year over year to Rs. 2.2 billion as the bank continued to expand its loan book. The effective tax rate stood at 52.9 percent during the quarter, compared with 55 percent in the same period last year.
On the balance sheet, deposits rose 23 percent year over year and 3 percent quarter over quarter to a record Rs. 3.74 trillion. Net advances increased 39 percent year over year, while investments and advances rose 8 percent and 7 percent, respectively, from the previous quarter. Borrowings also increased 25 percent quarter over quarter to meet funding requirements, according to AHL.
The board declared an interim cash dividend of Rs. 8 per share, up from Rs. 7.50 per share declared after the first quarter, taking the cumulative cash dividend for 2026 to Rs. 15.50 per share.
The post Meezan Bank Posts Rs. 48 Billion H1 2026 Profit appeared first on ProPakistani.
