Karachi: Meezan Bank Ltd. has disclosed its financial results for the year ending December 31, 2024, following a meeting of its Board of Directors on February 13, 2025, at 12:00 (Noon) in Karachi, Pakistan. The Board has proposed a final cash dividend of Rs. 7 per share, translating to a 70% payout ratio. This proposed dividend is in addition to the interim dividends, which amounted to Rs. 21 per share, or 210%, previously disbursed to shareholders.

Despite a year of substantial financial growth and increased asset base, the Board recommended no bonus shares, right shares, or any additional corporate actions. As such, bonus shares and right shares remain at NIL, highlighting a strategic decision by the Board to focus on cash dividends as the primary method of rewarding shareholders.

According to information available from the Pakistan Stock Exchange (PSX), Meezan Bank Ltd. experienced notable growth in its financial position. The total assets of the bank increased significantly to 3.90 trillion rupees from 3.01 trillion rupees in the previous year. The growth was largely driven by an increase in investments, which rose to 1.87 trillion rupees from 1.57 trillion rupees in 2023, and an expansion in Islamic financing and related assets to 1.51 trillion rupees from 961.67 billion rupees the previous year.

Liabilities also saw a significant increase, primarily due to a rise in bills payable and dues to financial institutions. Total liabilities reached 3.65 trillion rupees, up from 2.83 trillion rupees in 2023. The bank's net assets rose to 246.98 billion rupees, compared to 184.91 billion rupees in the previous year.

The bank's financial performance is further illustrated by its profit before taxation, which escalated to 226.28 billion rupees from 172.07 billion rupees in 2023. The profit after adjustments stood at 197.41 billion rupees, showcasing a robust operating performance.

The 29th Annual General Meeting of Meezan Bank Ltd. is scheduled for March 27, 2025, at 10:00 a.m., conducted both physically and virtually at Meezan House, Karachi. Shareholders eligible for the final dividend will be those listed in the Register of Members as of March 21, 2025, with the shares transfer books closed from March 24 to March 27, 2025.

Meezan Bank Ltd. is classified under the designated market category of financial services, and the bank plans to disseminate its annual report via PUCARS at least 21 days before the Annual General Meeting.