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ANNUAL REPORT

MEEZAN BANK
(The Premier Islamic Bank)

RATIO ANALYSIS

INTRODUCTION OF THE COMPANY

Vision

Establish Islamic banking as banking of first choice..

Mission

To be a premier Islamic bank, offering a one-stop shop for innovative value-added


products and services to our customer within the bounds of Shariah.

OUR CULTURE

Core Values:

Shariah compliance, Integrity, Professionalism, Innovation, Service Excellence,


Social Responsibility.

Staff:

Committed, motivated and professionally trained employees who are empathic to


their customers’ needs.

Brand Personality:

A sober and established, strong, empathic, professional person; who is an


extremely loyal and dependable friend and business partner, and is committed to
offering comprehensive value-based Shariah-compliant financial solutions.
Relationships:

Our relationships are long-term. We recognize and value our customers’ needs
above all and strive to ensure their fulfillment. All customers are treated with
professionalism and in a friendly manner. It is our endeavour to ensure that they
receive efficient and timely service. The Meezan Bank experience is a unique one.

IMPORTANCE OF RATIO ANALYSIS

The purpose and importance of ratio analysis are to evaluate or analyze the
financial performance of the firm in terms of Risk, Profitability, Solvency, and
Efficiency. It helps us to compare the trends of two or more company over a period
of time

 Analysis of Financial Statements


 Helps in Understanding the Profitability of the Company
 Analysis of Operational Efficiency of the Firms
 Liquidity of the Firms
 Helps in Identifying the Business Risks of the Firm
 Helps in Identifying the Financial Risks of the Company
 For Planning and Future Forecasting of the Firm

Liquidity Ratios Formulas 2018 2017

Current assets/Current
Current Ratio
Liabilities 1.002 0.3

(Current Assets-
Quick Ratio Inventory)/Current No data found No data found
Liabilities limitations limitations

Profitability Ratios

Gp (Gp/Net sales)*100 79% 73%


(Net profit/Net
Net Profit
sales)*/100 25.15% 22.20%

Return on equity (Net Profit/equity)*100 22.19% 17.99%

Earnings Per Share Net profit/Total shares 7.67 5.67

(Net profit/Total
Return on total assets
assets)*100 0.95% 0.80%

Solvency Ratios

[long term debt/(long


Gearing ratio
term debt equity)]*100 26% 16.60%

(Total Equity/Total
Equity Ratio
Assets)*100 4.30% 4.40%

Earnings before Interest No data found No data found


Interest Coverage
Tax/Interest limitations limitations

Efficiency Ratios

Avg Collection Period (Debtors/Net sales)*365 385 days 233 days

No data found No data found


Avg Payment Period (Creditors/Purchases)*365
limitations limitations

No data found No data found


Avg Inventory Period (Inventory/Cos)*365
limitations limitations

Fixed Asset Turnover Net sales/Fixed assets 2.71 times 2.49 times

Total Asset Turnover Net sales/Total assets 0.0379 times 0.0359 times

Inventory Turnover Cos/Inventory

Market Ratios
(Dividend per
Dividend Yield share/Market Value Per 0.53%
Share)*100 0.02%

(Dividend per
Dividend Pay out
share/Earning Per 32%
Share)*100 48%

Market Value Per


Price Earning 11.86 times
Share/Earning Per Share 11.81 times

Unconsolidated Statement of Financial Position

As at December 31, 2018

ASSETS 2018/Rupees 000 2017/Rupees

000

Cash and balances with treasury 65,022,041 64,556,170


banks

Balances with other banks 8,255,187 4,895,816

Due from financial institutions - 184,814,600 147,229,221


ne

Investments - net 123,742,867 119,238,246

Islamic financing and related 512,564,522 420,029,088


assets - net

Fixed assets 13,129,126 11,362,868

Intangible assets 624,534 512,490

Deferred tax asset 982,936 -

Other assets -net 28,779,592 20,984,101

LIABILITIES

Bills payable 23,750,543 17,175,035

Due to financial institutions 36,407,811 36,813,295


Deposits and other accounts 785,476,944 667,180,865

Sub-ordinated Sukuk 14,000,000 7,000,000

Deferred tax liabilities - 8,182

Other liabilities 37,947,052 25,553,230

Net Assets 40,333,055 35,077,393

REPRESENTED BY

Share capital 11,691,924 10,629,022

Reserves 15,161,249 13,368,809

Unappropriated profit 13,525,765 10,340,589

(Deficit) / surplus on (45,883) 738,973


revaluation of assets - net of tax

40,333,055 35,077,393

Unconsolidated Profit and Loss Account

For the year ended December 31, 2018

Notes 2018/Rupees 2017/Rupees

Profit / return earned on Islamic 25 48,624,458 36,426,932


financing and related assets,
investments and placements

Profit on deposits and other dues 26 20,456,948 15,683,700


expensed

Net spread earned 28 167,510 20,743,232

OTHER INCOME

Fee and Commission Income 27 5,257,170 4,165,971

Dividend income 567,429 1,176,517

Foreign Exchange Income 1,318,460 1,210,827

Gain on securities - net 28 8,308 824,926


Other income 29 311,136 246,041

7,462,503 7,624,282

Total income 35,630,013 28,367,514

OTHER EXPENSES

Operating expenses 30 19,290,136 16,579,977

Workers Welfare Fund 20.5 363,001 241,377

Other charges 31 16,419 10,824

Total other expenses 19,669,556 16,832,178

Profit before provisions 15,960,457 11,535,336

Provisions and write offs - net 32 1,168,051 1,283,326

Extra ordinary / unusual items

Profit before taxation 14,792,406 10,252,010

Taxation 33 5,830,206 3,939,243

Profit after taxation 8,962,200 6,312,767

Basic and diluted earnings per 34 7.67 5.56


share

Unconsolidated Statement of Comprehensive Income

For the year ended December 31, 2018

NOTES 2018/Rupees 2017/Rupees

Profit after taxation for 8,962,200 6,312,767


the year

Other comprehensive
income

Items that may be


reclassified to profit and
loss account in
subsequent periods:

Deficit on revaluation of 23 (1,241,550) (2,439,341)


investment
Deferred tax on 434,542 853,769
revaluation of
investments

(807,008) (1,585,572)

Items that will not be


reclassified to profit and
loss account in
subsequent periods:

Remeasurements of 37 1,998 (189,878)


defined benefit plan

Tax on remeasurements (699) 66,457


of defined benefit plan

1,299 (123,421)

Surplus on revaluation of 23 34,080 -


non-banking assets 23
34,080 -

Deferred tax on (11,928) -


revaluation of non-
banking assets

22,152 -

Total Comprehensive 8,178,643 4,603,774


Income for the year
CONCLUSION OF RATIO ANALYSIS

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