Meezan Bank has outperformed Habib Bank Limited (HBL) to become the most profitable bank in Pakistan for the year ending on December 31, 2022. According to the financial report released by HBL, the bank reported a profit of Rs. 34.4 billion (EPS: Rs. 23.23), indicating a 3.12% YoY decrease from its 2021 profit of Rs. 35.5 billion (EPS: Rs. 23.88). As a result, HBL has now become Pakistan’s third-most profitable bank in 2022, with MCB Bank (PAT of Rs. 45.1 billion) and Meezan Bank overtaking it.
Meanwhile, Meezan Bank has reported a profit of Rs. 45.1 billion, surpassing both HBL and MCB Bank in terms of profitability. This marks a significant achievement for Meezan Bank, which has now become Pakistan’s most profitable bank.
In addition to announcing its profits, HBL has declared a dividend of Rs. 1.50 per share, or 15%. This is in addition to the interim cash dividend of Rs. 5.25 per share (52.5%) that was already paid. Despite the decrease in profits, HBL remains a strong player in the banking industry in Pakistan, with a strong reputation and a solid customer base.
