Meezan Bank Limited (MEBL): 2QCY24 Corporate Briefing Takeaways – By Alpha - Akseer Research
<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MEBL posted an unconsolidated PAT of PKR 51.8bn in 1HCY24
compared to PAT of PKR 32.5bn in SPLY, up by 59% YoY. The bank announced a DPS
of PKR 7.0/sh for 2QCY24, taking 1H payout to PKR 14.0/sh, up 100% YoY. The
payout ratio for 1HCY24 stood at 48% vs 38% in 1HCY23.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">80% of the growth in Net Spread earned was driven by an
increase in interest rates and 20% by volumetric growth. Moreover, other income
increased (+30% YoY) due to a considerable increase in dividend income (+100%
YoY) along with capital gains (+131% YoY).</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The bank’s outlook for future p...
