Meezan Bank reported profit after tax of Rs 23.405 billion for the three months ended March 31, 2026, up 6% from Rs 22.048 billion in the same quarter of 2025. The result is for calendar Q1—not the first half—and comes from interim unaudited financial statements.
How much profit did Meezan Bank make in Q1 2026?
Profit after tax was Rs 23.405 billion for January through March 2026, compared with Rs 22.048 billion for January through March 2025. Basic earnings per share increased 6%, to Rs 13.00 from Rs 12.28. Meezan Bank’s report described the profit as Rs 23.4 billion, up 6% year over year.
The bank reported annualized return on equity of 34.0% and return on assets of 2.0%. These are profitability ratios, distinct from the total rupee profit and earnings per share.
What contributed to the year-over-year increase?
The income mix shifted: net spread earned edged down, while non-funded income grew. The bank’s directors’ review said lower returns on financing, investments and placements reflected the lower policy-rate environment. Deposit-led growth in asset volume largely offset that pressure, leaving net spread almost flat.
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| Q1 measure | 2026 | 2025 | Year-over-year change |
|---|---|---|---|
| Net spread earned | Rs 61.427bn | Rs 61.790bn | Down 1% |
| Non-funded income | Rs 11.151bn | Rs 8.178bn | Up 36% |
| Operating expenses | Rs 23.150bn | Rs 19.631bn | Up 18% |
| Credit-loss allowance and write-offs, net | Rs 449m | Rs 1.858bn | Lower in Q1 2026 |
Meezan attributed higher non-funded income to debit-card use, branch banking services and trade-related activity. It also said foreign-exchange income rose mainly with increased trade and home-remittance flows. Lower net credit-loss charges compared with Q1 2025 were another difference in the quarter’s reported figures.
Why expenses increased
Operating expenses rose to Rs 23.150 billion from Rs 19.631 billion. The bank attributed the increase to 63 new branches opened since Q1 2025, along with higher staff and IT costs, inflation, and customer onboarding and communications costs.
What dividend did Meezan Bank announce?
The bank announced an interim cash dividend of Rs 7.50 per share for the quarter, which it described as 75%. This per-share distribution is separate from the bank’s total profit and EPS; the announcement does not mean each shareholder receives Rs 7.50 for every rupee of profit.
How did deposits and assets change?
Deposits stood at Rs 3.620 trillion on March 31, 2026, 10% higher than on December 31, 2025. Total assets were Rs 4.788 trillion at quarter-end. The deposit comparison is sequential—from year-end to March 31—not a year-over-year growth rate.
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Is Rs 23.4bn the Q1 or half-year profit?
Rs 23.4 billion is the profit after tax for the quarter ended March 31, 2026. It is not a six-month figure. Meezan Bank subsequently reported profit after tax of Rs 48.88 billion for the half year ended June 30, 2026, up 6% year over year. The half-year total covers a longer period and should not be compared with Q1 as though the figures described the same reporting period.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is the reporting status?
The Q1 results were interim, unaudited, unconsolidated and consolidated financial statements, approved by the board on April 23, 2026. The bank’s announcement was published May 7, 2026. The reported figures therefore should be read as the bank’s interim quarterly results, not as audited annual accounts.
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