Meezan Bank Limited (MEBL): CY23 profitability surges to a record PKR 47.2/sh, DPS PKR 20.0 – By Foundation Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Meezan Bank Limited (MEBL) announced its 4QCY23 results today reporting earnings of PKR 26.4Bn (EPS: PKR14.8), &uarr;61/4% YoY/QoQ respectively. This cumulates to CY23 earnings of PKR 84.5Bn (EPS: PKR47.2), &uarr;88% YoY.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Along with the result, the bank announced a final cash dividend of PKR 8.0/sh taking full year payout to PKR 20.0/sh.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Net Interest Income (NII) of the bank shot up by a sizable 86% YoY in CY23 primarily led by NIMs accretion owing to persistently high interest rate over the past 12 months. Balance sheet expansion has also aided the incre...