KARACHI - Meezan Bank has been awarded ‘Islamic Bank of the Year’ for 2010 by CFA Association of Pakistan (CFAAP) at its 8th annual Excellence Awards. CFA has recently introduced this award to recognise excellence in the commercial banking industry.
The CFA Association of Pakistan (CFAAP) is a non-profit professional organisation of local investment professionals, and a member society of CFA Institute, USA. CFA Institute is a global organisation of analysts, portfolio managers, financial professionals and administers of the prestigious Chartered Financial Analyst (CFA) program worldwide. Meezan Bank has won this award for the second consecutive year.
Meezan Bank operates with the largest Islamic Banking branch network in Pakistan with 226 branches in 63 cities across the country. 2010 was a highly successful and record-breaking year for Meezan Bank. The B ank recorded 61 per cent growth in its post-tax profit and its deposits grew by 31 per cent to Rs131 billion.