Meezan Bank Limited.PSX: MEBL

Presentation and change of time of corporate briefing session (cbs) - Meezan Bank limited for the year ended december 31, 2025

· Issued by Meezan Bank Limited.


‌Financial Results‌

For the Year Ended December 31, 2025

1





‌Opening Remarks by President & CEO



2

‌Performance Overview - 2025 Headlines

12% vs 2024 23% vs 2024

Rs.4.81trillion

Basic Earnings Per Share

Rs. 49.54per share

Rs.89.0billion

28% vs 2024

Rs.3.30 trillion

ADR

51%

As at Dec-24

60%

Return on Equity

33.8%

54 new branches vs Dec-24

1,105 363

Distribution to Shareholders for 2025

280% Cash

3



4

‌Awards and Recognitions



‌Pakistan Banking Awards

  • Best Bank 2025

  • Best Bank 2024

  • Best Bank 2023

  • Best Bank 2020

    5

  • Best Bank 2018



    ‌CFA Society of Pakistan

    • Best Bank of the Year - Large Size Banks

      for the 6th consecutive year

    • Best Islamic Bank of the Year - 2024

      6

    • Best Investor Relations - 2024 (Runner-up)



‌Company Financials Presentation by:

Syed Imran Ali Shah

CFO

7





‌Performance Overview - 2025 Headlines

Dec 2025

Dec 2024

Growth

%

Gross Financings

Rs 1.69 trillion

Rs 1.56 trillion

Rs 130 billion

8%

Gross ADR

51.1%

60.2%

(9.2%)

Non-Performing Financings

Rs 31.0 billion

Rs 25.2 billion

Rs (5.8) billion

(23%)

NPL Ratio

1.84%

1.62%

(0.22%)

NPL Coverage Ratio

146%

165%

(19%)

Investments

Rs 2.60 trillion

Rs 1.87 trillion

Rs 726 billion

39%

CASA Deposits

Rs 3.02 Trillion

Rs 2.41 Trillion

Rs 610 billion

25%

CASA Mix

91%

93%

(2%)

CAR

19.20%

20.35%

(1.15%)

Cost to Income Ratio

30.4%

26.8%

(3.7%)

‌12% Decline in PAT- Due to Lower Policy Rate (Unconsolidated)

-13%

-13%

(12%)

(13%)

(12%)

(58%)

(14%)

3%

(10%)

13%

(15%)

(19%)

(8%)

Growth %

6%

560%

-8%

(70%)

22%

(12%)

Rs in mn



Profit & Loss Account

Average Policy Rate

Return on financings, investments and placements

Return on deposits and other dues expensed

Net spread earned

Fee, commission and other income Foreign exchange income

Dividend income Capital gain - net

Other Income

Total other income

Total income

Operating expenses and other charges

Profit before provisions

Total provisions - net

Profit before tax

Taxation

Profit after tax US $318 mn / $362 mn

Basic Earnings per share - Rs

Diluted Earnings per share - Rs

2025

11.39%

420,462

(167,990)

252,472

22,696

5,479

2,015

987

1,456

32,632

285,104

(86,800)

198,304

(3,886)

194,418

(105,377)

89,041

49.54

49.22

2024

19.67%

494,297

(207,257)

287,039

21,339

830

2,190

3,329

1,190

28,878

315,917

(84,611)

231,306

(9,221)

222,085

(120,578)

101,508

56.62

56.30

‌Profit & Loss Account

Q4'25

Q3'25

Growth %

Average Policy Rate

10.91%

11.00%



(0%)

Return on financings, investments and placements

Return on deposits and other dues expensed

108,349

(44,105)

102,588

(40,116)



6%

10%

Net spread earned

64,244

62,472



3%

Total other income

8,788

7,921



11%

Total income

73,032

70,394



4%

Operating expenses and other charges

(25,989)

(24,953)



4%

Profit before provisions

47,043

45,440



4%

Total provisions - net

(252)

(255)



(1%)

Profit before tax

46,791

45,185



4%

Taxation

(24,975)

(24,123)



4%

Profit after tax US $78 mn / $75 mn

21,815

21,062





4%

Basic Earnings per share

12.12

11.70



4%

Q4'25 vs Q3'25 (Unconsolidated)

Rs in mn



Key Performance Indicators - Profitability (Unconsolidated)

Rs in bn





‌3-year CAGR (2022-2025) in PAT = 26%

+13% +43% +69%

+46% +28%

28.4

+58%

45.0

+88%

84.5

+20%

101.5

-12%

89.0

+3% +13% +15% +10% +11%



3.4 3.5 4.0 4.6 5.0 5.6 6.3 9.0

15.2 22.2

Avg

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

PBT PAT

Quarterly PBT and PAT

Tax rate 49%

Tax rate 54%

*Tax rate 53%

54.8

54.1

57.3

58.5

Tax rate 39%

50.0

52.1

36.8

32.0

22.7

27.8

25.5

26.4

24.9

26.5

25.6

24.4

18.5

16.4

17.2

10.2

6.1

10.6

6.5

11.8

7.0

14.8

8.8

15.1

9.2

11.5

15.4

7.9

21.8

21.1

24.1

22.0

46.8

45.2

48.5

54.0

Policy Rate 13.45% 11.29% 9.67% 9.94% 7.13% 5.85% 5.75% 7.10% 11.99% 8.94% 7.29% 13.20% 20.71%

19.67%

11.39%

‌23% Growth in Assets Since Dec-24 - Led by Growth in Investments

(Unconsolidated)

Rs in mn







Total Liabilities

US $ 16.2 bn / $ 13.0 bn

Deposits and other accounts Due to FIs

Sub-ordinated Sukuk (ADT-I & T-II)

Others



Total Equity US $ 997 mn / $ 882 mn

Share Capital

Reserves and Unappropriated Profit

Surplus / (deficit) on revaluation of assets - net

Total Assets US $ 17.2 bn / $ 13.9 bn

Balance Sheet

Islamic Financing and related assets - Gross

Less: Provisions

Islamic Financing and related assets - net Investments (GoP Sukuk: Rs 2.2 trillion)

Due from FIs

Cash and Bank Balance Fixed and other assets

Dec-25

Dec-24

Growth

1,686,267

1,556,362

129,904

8%

(45,332)

(41,606)

(3,726)

9%

1,640,935

1,514,756

126,179

8%

2,596,837

1,870,536

726,302

39%

12,325

34,964

(22,639)

(65%)

345,931

274,159

71,772

26%

210,533

207,658

2,875

1%

4,806,561

3,902,073

904,488

23%

3,302,842

2,584,871

717,971

28%

887,048

722,286

164,762

23%

16,990

20,990

(4,000)

(19%)

320,423

326,941

(6,518)

(2%)

4,527,304

3,655,089

872,215

24%

18,006

17,947

58

0%

246,871

206,896

39,976

19%

14,380

22,141

(7,761)

(35%)

279,257

246,984

32,273

13%



‌Key Ratios

30.7%

34.6% 36.4%

ROE - %

44.6%

56.3%

47.0%

33.8%

1.5%

1.7% 1.7%

ROA - %

2.0%

3.0% 2.9%

2.0%

2019 2020 2021 2022 2023 2024 2025

Cost to Income Ratio - %

2019 2020 2021 2022 2023 2024 2025

Gross ADR - %

45.7%

42.1%

39.7%

34.3%

28.9%

26.8%

30.4%

54.3%

42.4%

61.4%

53.4%

44.7%

60.2%

51.1%

2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025



‌CASA Deposits Grew

by 25% YoY



TD, 7%

2024

2025

Key Performance Indicators - Deposits





Dec-25

Dec-24

Growth

Rs in bn

Mix

Rs in bn

Mix

Rs in bn

%

CA

1,589

48%

1,229

48%

361

29%

SA

1,427

43%

1,176

45%

251

21%

CASA

3,016

91%

2,405

93%

611

25%

TD

287

9%

180

7%

107

60%

Total

3,303

100%

2,585

100%

718

28%











TD 9%

SA, 45%

Rs 2.59 tn

CA, 48%

Deposit growth: Rs 700+ bn

SA

43%

Rs 3.30 tn

CA 48%

CA SA TD

CA SA TD

‌Market Share of Deposits: 8.8%

CAGR Since Inception 33%

Deposit Growth Since Inception

3,303

2,585

2,217

1,658

1,254 1,456

5

8

14

23

34

55

70

100

131

169

230

288

379

468

559

667

785

933

Key Performance Indicators - Deposits

Rs in bn



Deposit Composition - High Granularity

Branch Network: 1,105 branches in 363 cities

554 new branches added since 2015

Individual - 71%

87

60

42

47

54

Private Sector - 27%

100

55

59

Public Sector - 0%

20

30

1,105

NBFIs - 1% 571

601

660

760

815

902

962

1,004

1,051

Government - 1%

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Branch Network New Branches



2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

‌Key Performance Indicators - Investment Rs 2.6 Trillion Up by 39% from Dec-2024

Investments (Rs in Bn)

GoP Ijarah Sukuk (GIS)

Dec-25

2,165

Dec-24

1,696

Var.

28%

Rs in bn

GIS

Investment Mix

Bai Muajjal, Naya Pakistan Certificates & Other Govt. guaranteed Sukuk

Others (Shares , Corp sukuk etc)

GIS Mix

Rs in bn

Mix

Variable

1,575

73%

Fixed

590

27%

Total

2,165

100%

Total

400

32

2,597

155

20

1,871

159%

65%

39%

PES & Other Govt.

Others

73%

27%

2,165

1,696

400

155

32

20

Dec-25

Dec-24

GIS Mix

Variable

Fixed



‌Key Performance Indicators - Financing

Gross Financing & NPL Ratio

Gross Financing Market Share: 11.3%

1,686

1.8%

2.8%

1,556

1.9%

142%

128%

Rs in Bn

Strong NPL Coverage Ratio

31

45

146%

166% 179% 165%

133%

1.8%

507

9 15

532

777

14 14

1,018

1.3%

1.7% 992

17

1.6%

25

31

42

25

23 30

19 19 17

13 15 14 14

9

2019 2020 2021 2022 2023 2024 2025

Non Performing Loans Gross Financing NPL Ratio

Consumer 7% Staff 1%

Commercial /

2019 2020 2021 2022 2023 2024 2025

Provisions held Non Performing Loans NPL Coverage

2025: Net charge of Rs 2.4 bn (Charge: Rs 5.6 bn & Reversal: Rs 3.2 bn) against Stage III. Stage I & II - Net charge of Rs 1.3 bn (Charge: Rs 3.5 bn & Reversal: Rs 2.2 bn)

Total Provision of Rs 45 bn NPL Coverage Ratio 146%

SME 18%

Financing Composition

Corporate

Commercial / SME

Consumer

Staff

Rs 5.5 bn

Rs 13.6 bn

Rs 26.3 bn

Corporate 74%

General Provision Stage I & II ECL under IFRS 9 Stage III ECL under IFRS 9



CAR and Equity Trends

Rs in bn



‌Capital Adequacy Ratio %

16.6%

17.8%

17.8%

18.4%

20.3%

19.2%

6.4%

11.5%

11.5%

11.5%

0.5%

11.5%

11.5%

11.5%

12.5%

4.1%

6.3%

6.3%

7.7%

8.8%

10.9%

22.4%

CAR

Excess

Additional D-SIB

Minimum Required

2019 2020 2021 2022 2023 2024 2025

Min. Req. D-SIB Excess

MEBL: CET - I - 16.45% vs 7.50% Req.

MEBL: Tier - I - 16.89% vs 9.00% Req.

59 69

Equity & Book Value / Share

48.3

64.4

87 115

185

103.2

247

137.6

279

151.5

32.9

38.6

2019 2020 2021 2022 2023 2024 2025

Equity Book Value / Share

‌Fee, Commission, and Other Income

2025

2024



Growth %

Debit card related fees

9,086

9,571

(5%)

Trade related fees and commissions

6,143

5,213

18%

Branch banking customer fees

4,027

3,451

17%

Fee income from subsidiary (AMIML) and related funds

940

1,167

(19%)

Cash management fees

581

446

30%

Investment banking related fees

969

508

91%

Home remittance related fees

414

603

(31%)

Commission on guarantees

396

239

66%

Credit processing related fees

133

132



1%

Others

7

8

(14%)

Fee and Commission Income

22,696

21,339



6%

6% Growth in Fee & Commission Income

Rs in millions



‌Rs 1,592 bn

58%

2024

Rs 2.7 trillion

$9.4 billion

Rs 1,812 bn

62%

2025

Trade Business Volume Increased by 8% from 2024 to 2025



Rs 2.9 trillion

$10.0 billion

Rs 1,144 bn

42%

Rs 1,131 bn

38%

Import Export Import Export

Al-Meezan - Financial Performance



Dec 2025

Dec 2024

∆ %

AUMs (incl. Discretionary Portfolio) - Rs Bn

724

718

1%

Funds - Incl. plans (No.)

39

39

  • ‌Largest Asset Management Company in Pakistan

  • Established track record of 31 years

  • One of the largest investor base of over 530k

  • Manages the largest open-end Shariah Compliant Equity, Sovereign Income, Money Market & Voluntary Pension Fund

  • Developed the first Shariah Compliant Index (KMI-30) in collaboration with KSE (now PSX)

  • Successfully maintained and strengthened its position as the largest Asset Management Company in Pakistan with Assets under Management (incl. Discretionary Portfolio) of over Rs. 724 Billion

*As of 31stDecember, 2025

AUMs (incl. Discretionary Portfolio) - Rs Bn

ROE (Jan-Dec)

76.36%

PAT (Jan-Dec)

Rs 4,175

million

718

724

431

283

135

176

187

Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25

‌No in 000's

4.719 Millions Total Debit Cards

3,989

4,719

Digital Channels Statistics

POS Machines Deployment (Count)

33,631

Mobile App Active Users

3.11

No in mn's

3.36

1,175 1,305 1,505

2,326

1,991

2,813

3,268

28,000 29,410

31,138

33,193

2.41

2.55

2.81

"Active users": Login once a month

CY17 CY18 CY19 CY20 CY21 CY22 CY23 CY24 CY25

Digital throughput composition - CY-25

Q4- 2024 Q1- 2025 Q2- 2025 Q3- 2025 Q4- 2025

POS & E-Commerce Transactions

Q4 -2024 Q1 - 2025 Q2 - 2025 Q3 - 2025 Q4 - 2025

Digitalisation Percentage (OTC vs Digital Channels)

IB/MB 72.66% 28.15 tn

CMS ATM MB / IB

Debit Cards

ATM

7.21% 2.80 tn

CMS

19.07% 7.39 tn

Rs. 38.74 tn

Debit Cards 1.06% 0.41 tn

on Debit Cards - CY-25

E-Commerce 21% : 19.77 Mn

21%

95.68 Mn

79%

POS

79% : 75.91 Mn

90.90%

92.30%

(By Count)

92.80%

93.10%

93.60%

Q4 -2024 Q1 - 2025 Q2 - 2025 Q3 - 2025 Q4 -2025



Key Business Risks



Credit Risk

‌Credit risk arises from the potential that an obligor is either unwilling to perform on an obligation or its ability to perform such obligations is impaired resulting in economic loss to the Bank. This credit risk arises mainly from both direct financing activities as well as contingent liabilities.

Market Risk

Market risk is the risk that the fair value or cash flows of a financial instrument will fluctuate due to changes in market prices. Market risk reflects yield rate risk, currency risk and other price risks.

Foreign Exchange Risk

The foreign exchange risk is defined as the current or prospective risk to earnings and capital arising from adverse movements in currency exchange rates.

Equity Position Risk

Equity position risk is defined as the risk to earnings or capital arising from adverse changes in value of equity portfolios of Bank. The limits assigned to various individual scripts and total portfolio investments are fixed as per the guidelines issued by the SBP. The Bank invests in only Shariah compliant equities as advised by the Resident Shariah Board Member.

Yield / Profit Rate Risk

Yield risk occurs when there is a mismatch between positions, which are subject to profit rate alterations within a particular time period. The

Bank's financing, placement and investment activities give rise to profit rate risk.

Liquidity Risk

Liquidity risk is the potential for loss to the Bank arising from either its inability to meet its obligations or to fund increases in assets as they fall due without incurring an unacceptable cost.

Operational Risk

Operational risk is the risk of loss resulting from inadequate processes or from external events. To reduce losses arising from operational risk, the Bank has strengthened its risk management framework by developing polices, strategies, guidelines and manuals.



‌Thank You

‌Past Years Performance

25



‌Balance Sheet

2019

2020

2021

2022

2023

2024

2025

Cash and Balances with Banks

107,566

155,689

186,921

131,419

254,064

274,159

345,931

Due from FIs

223,689

342,069

238,402

34,964

34,964

34,964

12,325

Investments



225,646

434,208

620,132

1,283,210

1,572,388

1,870,536



2,596,837

Islamic Financing - Gross

506,513

531,588

777,295

1,018,102

992,027

1,556,362

1,686,267

Less: Provisions

(12,738)

(19,056)

(19,209)

(22,594)

(30,354)

(41,606)

(45,332)

Islamic Financing - net

493,775

512,532

758,086

995,508

961,673

1,514,756

1,640,935

Fixed & Intangible Assets

24,065

24,648

35,453

42,271

60,890

70,975

75,245

Other Assets

46,517

52,414

63,977

90,025

128,130

136,683

135,288

Total Assets

1,121,258

1,521,560

1,902,971

2,577,397

3,012,109

3,902,073

4,806,561

Bills Payable

17,187

26,494

36,141

40,175

39,724

112,605

73,768

Due to FIs

42,047

94,501

220,414

573,326

377,495

722,286

887,048

Deposits and other accounts



932,579

1,254,431

1,455,886

1,658,490

2,217,474

2,584,871



3,302,842

Sub-ordinated Sukuk (ADT-I & T-II)

14,000

18,000

20,990

20,990

20,990

20,990

16,990

Other Liabilities

56,430

58,979

82,982

169,095

171,518

214,336

246,655

Total Liabilities

1,062,243

1,452,405

1,816,413

2,462,076

2,827,201

3,655,089

4,527,304

Net Assets

59,015

69,155

86,558

115,321

184,908

246,984

279,257

Share Capital

12,861

14,147

16,269

17,896

17,913

17,947

18,006

Reserves and Unappropriated Profit

36,753

49,446

66,225

98,089

156,074

206,896

246,871

(Deficit) / Surplus on revaluation of assets - net

9,401

5,562

4,064

(664)

10,921

22,141

14,380

Total Equity

59,015

69,155

86,558

115,321 184,908 246,984 279,257

Unconsolidated Statement of Financial Position: 2019 - 2025

Rs in mn



‌P&L Statement

2019

2020

2021

2022

2023

2024

2025

Policy rate

10.00% - 13.25%

13.25% - 7.00%

7.00% - 9.75%

9.75% - 16.00%

16.00% - 22.00%

22.00% - 13.00%

13.00% - 10.50%

Policy rate - Average

11.99%

8.95%

7.29%

13.20%

20.71%

19.67%

11.39%

Profit / return earned

Profit on deposits & others

94,270

(47,731)

106,589

(41,740)

110,073

(41,152)

232,121

(110,417)

431,722

(205,293)

494,297

(207,257)

420,462

(167,990)

Net Spread earned

46,539

64,849

68,921

121,704

226,429

287,040

252,472

Other income

9,320

10,072

14,892

19,103

22,107

28,878

32,632

Total Revenue

55,859

74,921

83,813

140,807

248,536

315,918

285,104

Operating Expense

(25,522)

(29,775)

(35,324)

(48,245)

(71,788)

(84,611)

(86,800)

Profit Before Provisions

30,337

45,146

48,489

92,562

176,748

231,307

198,304

Total provisions

(4,186)

(8,210)

(993)

(4,177)

(7,340)

(9,221)

(3,886)

Profit Before Tax

26,151

36,936

47,496

88,385

169,408

222,086

194,418

Taxation

(10,919)

(14,770)

(19,141)

(43,378)

(84,932)

(120,578)

(105,377)

Profit After Tax

15,232

22,166

28,355

45,007

84,476

101,508

89,041

YoY Growth

70%

46%

28%

59%

88%

20%

(12%)

Dividend per share

50% (C) &

10% (B)

60% (C) &

10% (B)

60% (C) &

15% (B)

85% (C) &

10% (B)

200% (C)

280% (C)

280% (C)

Dividend per share - Total

60%

70%

75%

95%

200%

280%

280%

Unconsolidated Profit & Loss Statement: 2019 - 2025

Rs in mn



‌Key Ratios - %

2019

2020

2021

2022

2023

2024

2025

Policy rate

10.00% - 13.25%

13.25% - 7.00%

7.00% - 9.75%

9.75% - 16.00%

16.00% - 22.00%

22.00% - 13.00%

13.00% - 10.50%

Cost to Income Ratio

45.7

39.7

42.1

34.3

28.9

26.8

30.4

Branches opened

100

55

87

60

42

47

54

Total No. of branches

760

815

902

962

1,004

1,051

1,105

Book value per share

32.9

38.6

48.3

64.4

103.2

137.6

155.1

Earnings Per Share

8.5

12.4

15.8

25.1

47.2

56.7

49.5

NPL/Gross Loans

1.8

2.8

1.9

1.3

1.7

1.6

1.8

NPL Coverage (Total)

142

128

133

166

179

165

146

Gross Advances / Deposits (ADR)

54

42

53

61

45

60

51

Investment / Deposits (IDR)

24

35

43

77

71

72

79

CASA Ratio

74

76

83

88

89

93

91

Capital Adequacy Ratio (CAR)

16.6

17.8

17.8

18.4

22.4

20.3

19.2

Tier I CAR

12.9

13.6

14.0

15.7

18.9

16.9

16.9

ROE

30.7

34.6

36.4

44.6

56.3

47.0

33.8

ROA

1.5

1.7

1.7

2.0

3.0

2.9

2.0

Key Ratios: 2019 - 2025



‌Profit & Loss account

2025

2024

Growth %

PSX - 100 Index

165,494

81,114

104%

Net spread earned

Fee, commission, forex & other income Capital gain / (loss) and dividend income

Non funded income

252,455

287,043

27,896

3,952

31,848

318,891

(86,847)

232,044

3,457

235,502

(9,222)

226,279

(122,560)

103,719

(1,030)

102,689

57.28

(12%)

36,858

1,369



32%

(65%)

38,227



20%

Total income

290,682

(9%)

Operating expenses, WWF & other charges

Share of result of associates before taxation

(89,884)



3%

200,798

3,387



(13%)

(2%)

Profit before provisions

204,184

(13%)

Total provisions - net

(3,886)

(58%)

Profit before tax

200,299

(11%)

Taxation

(108,120)

(12%)

Profit after tax (PAT)

92,179

(11%)

Non Controlling Interest

(1,461)



42%

PAT attributable to shareholders of holding company

90,717

(12%)

Basic Earnings per share - Rs

50.47

(12%)

12% Decline in Consolidated Profit After Tax

Rs in mn



Company analysis