Financials - Half Yearly
Meezan Bank Limited
Consolidated Balance Sheet
  As at June 30, 2016
(Rupees in ' 000)
 
Jun 30, 2016
Dec 31, 2015
Assets
Cash and balances with treasury banks 44,288,230 43,685,791
Balances with other banks 15,728,843 11,205,707
Due from financial institutions 72,498,847 101,079,476
Investments - net 199,778,092 150,137,212
Islamic financing and related assets - net 225,262,295 207,568,823
Operating fixed assets 8,940,820 8,161,435
Deferred tax assets - net - -
Other assets 9,749,347 14,111,489
  576,246,474 535,949,933
Liabilities
Bills payable 10,532,096 6,560,324
Due to financial institutions 20,141,400 13,609,551
Deposits and other accounts 500,959,048 471,799,473
Sub-ordinated loan - -
Liabilities against assets subject to finance leases - -
Deferred tax liabilities - net 1,048,649 730,923
Other liabilities 11,809,015 13,569,243
  544,490,208 506,269,514
Net assets 31,756,266 29,680,419
Represented by
Share capital 10,027,379 10,027,379
Reserves 9,148,805 8,611,679
Unappropriated profit 10,456,554 9,238,479
  29,632,738 27,877,537
Non-controlling interest 1,089,932 944,623
  30,722,670 28,822,160
Surplus on revaluation of investments - net of tax 1,033,596 858,259
  31,756,266 29,680,419

Meezan Bank Limited
Consolidated Profit and Loss Account
  For the six months ended June 30, 2016
(Rupees in ' 000)
 
Jun 30, 2016
Jun 30, 2015
Profit / return earned on islamic financing and related assets, investments and placements 14,953,768 17,295,873
Return on deposits and other dues expensed 6,151,251 7,780,992
Net spread earned 8,802,517 9,514,881
Reversal of provision / (provision) against non-performing islamic financing and related assets - net 222,920 (308,825)
Reversal of provision / (provision) against diminution in value of investments 76,576 (92,287)
Reversal of provision against off-balance sheet obligations - 4,897
Bad debts written off directly - -
  299,496 (396,215)
Net spread after provisions 9,102,013 9,118,666
Other Income
Fee, commission and brokerage income 1,810,518 1,389,807
Dividend income 205,562 96,654
Income from dealing in foreign currencies 643,674 889,124
Capital gain on sale of investments - net 499,795 321,738
Other income 168,161 154,087
Total other income 3,327,710 2,851,410
  12,429,723 11,970,076
Other Expenses
Administrative expenses 7,712,363 6,686,493
Other reversals   (101) (11,530)
Other charges  381 447
Workers welfare fund  102,967 103,769
Total other expenses 7,815,610 6,779,179
  4,614,113 5,190,897
Share of results of associates before taxation 513,083 244,015
  5,127,196 5,434,912
Extraordinary / unusual items - -
Profit before taxation 5,127,196 5,434,912
Taxation - current 1,577,211 1,409,195
             - prior years 175,280 459,143
             - deferred 223,313 446,663
  1,975,804 2,315,001
Profit after taxation 3,151,392 3,119,911
Share of profit attributable to non-controlling interest (144,420) (117,544)
Profit attributable to shareholders 3,006,972 3,002,367
Basic and diluted earnings per share 3.00 2.99
Auditor(s):

Pakistan Banks' Association 2005. All Rights Reserved.