Meezan Bank Limited, having demonstrated robust financial growth, is set to enhance its market position through the acquisition of HSBC Bank Oman's operations in Pakistan.
Target Information
Meezan Bank Limited, headquartered in Karachi, Pakistan, is a leading Islamic bank known for its commitment to Sharia-compliant financing and banking operations. As of June 30, 2015, the bank demonstrated a solid growth trajectory with a 19% increase in profit after tax, amounting to Rs 2,677 million. Additionally, the bank’s earnings per share rose from Rs. 2.25 in June 2014 to Rs. 2.67, reflecting a strong performance and sound financial management.
The bank's total deposits surged by 14%, escalating from Rs. 380 billion in December 2014 to Rs. 435 billion in June 2015, indicating robust customer confidence and market presence. Furthermore, the Board of Directors, led by Chairman H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa, approved an interim cash dividend of Rs 1.75 per share, maintaining an uninterrupted payout since the bank's listing in 2000.
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Industry Overview
The Islamic banking sector in Pakistan has been experiencing remarkable growth over the past few years, driven by a rising demand for interest-free banking solutions among consumers and businesses alike
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Meezan Bank Limited
invested in
HSBC Bank Oman S.A.O.G
in 2015
in a Buyout deal
Disclosed details
Net Income: $21M