Financials -  Yearly
Meezan Bank Limited
Consolidated Statement of Financial Position
  As at December 31, 2017
(Rupees in ' 000)
 
2017
2016
Assets
Cash and balances with treasury banks 64,556,409 56,037,043
Balances with other banks 4,940,090 12,067,855
Due from financial institutions 147,229,221 129,115,165
Investments - net 123,160,901 134,796,574
Islamic financings and related assets - net 419,929,149 311,530,270
Operating fixed assets 11,994,586 9,031,686
Deferred tax assets - -
Other assets - net 14,156,973 10,689,082
  785,967,329 663,267,675
Liabilities
Bills payable 11,168,093 9,130,998
Due to financial institutions 36,813,295 32,005,501
Deposits and other accounts 673,180,310 563,999,852
Sub-ordinated sukuk 7,000,000 7,000,000
Deferred tax liabilities 230,787 1,955,203
Other liabilities 19,165,271 14,403,557
  747,557,756 628,495,111
Net assets 38,409,573 34,772,564
Represented by
Share capital 10,629,022 10,027,379
Reserves 13,393,125 9,724,001
Unappropriated profit 12,563,156 11,340,678
  36,585,303 31,092,058
Non controlling interest 1,007,975 1,221,989
  37,593,278 32,314,047
Surplus on revaluation of investments (including amount relating to share of profit from associates) - net of tax 816,295 2,458,517
  38,409,573 34,772,564

Meezan Bank Limited
Consolidated Profit and Loss Account
  For the year ended December 31, 2017
(Rupees in ' 000)
 
2017
2016
Profit / return earned on Islamic financing and related assets, investments and placements 36,094,934 30,761,424
Profit on deposits and other dues expensed 15,270,733 12,871,789
Net spread earned 20,824,201 17,889,635
Provision / (reversal of provision) against non-performing islamic financing and related assets - net 720,189 (120,246)
Provision / (reversal of provision) against diminution in the value of investments 586,732 (64,673)
Provision against off balance sheet obligations 13,482 -
Bad debts written off directly - -
  1,320,403 (184,919)
Net spread after provisions 19,503,798 18,074,554
Other income
Fee, commission and brokerage income 6,030,008 3,817,718
Dividend income 287,977 345,288
Income from dealing in foreign currencies 1,139,648 1,207,563
Capital gain on sale of investments - net 939,266 1,012,424
Unrealised loss on held for trading investments (1,708) -
Other income 411,013 341,676
Total other income 8,806,204 6,724,669
  28,310,002 24,799,223
Other expenses
Administrative expenses 17,125,835 15,307,097
Other reversals of provisions (13,524) (74,038)
Other charges 10,824 3,600
Workers Welfare Fund 290,837 211,940
Total other expenses 17,413,972 15,448,599
  10,896,030 9,350,624
Share of results of associates before taxation (963,186) 1,166,467
  9,932,844 10,517,091
Extraordinary / unusual items - -
Profit before taxation 9,932,844 10,517,091
Taxation - current 4,599,996 3,283,846
             - prior years 373,600 268,219
             - deferred (820,745) 362,603
  4,152,851 3,914,668
Profit after taxation 5,779,993 6,602,423
Attributable to:
Equity shareholders of the bank 5,618,512 6,181,901
Non-controlling interest 161,481 420,522
  5,779,993 6,602,423
Basic and diluted earnings per share (Rupees) 5.46 6.05
Auditor(s):

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