CONTENTS...SBP through its BSD Circular No. 10 dated August 26, 2002 has deferred the implementation of International Accounting Standard (IAS) 39 - "Financial Instruments: Recognition

1

C O N T E N T S

Corporate Information

Directors’ Review

3

4

In the name of Allah The Beneficent The Merciful

Balance Sheet

Profit and Loss Account

6

7

8

9

10

11

22

23

24

Statement of Comprehensive Income

25

26

27

Cash Flow Statement

Statement of Changes in Equity

Notes to and Forming Part of the Financial Statements

Consolidated Balance Sheet

Consolidated Profit and Loss Account

Consolidated Cash Flow Statement

Consolidated Statement of Changes in Equity

Consolidated Statement of Comprehensive Income

Branch Network

Notes to and Forming Part of the Consolidated Financial Statements

28

C O R P O R AT EI N F O R M AT I O N

H.E. Sheikh Ebrahim Bin Khalifa Al-Khalifa ChairmanNaser Abdul Mohsen Al-Marri Vice ChairmanJassar Dakheel Al-JassarRana Ahmed HumayunMohammed Azzaroog RajabAhmed Abdul Rahim MohamedNawal AhmedAlaa A. Al-SarawiMian Muhammad YounisIrfan Siddiqui President & CEOAriful Islam

Justice (Retd.) Muhammad Taqi Usmani ChairmanDr. Abdul Sattar Abu GhuddahSheikh Essam M. IshaqDr. Muhammad Imran Usmani

Nawal AhmedAhmed Abdul Rahim MohamedMian Muhammad Younis

Alaa A. Al-SarawiMian Muhammad YounisAriful Islam

Ahmed Abdul Rahim MohamedNaser Abdul Mohsen Al-MarriIrfan Siddiqui

Shabbir Hamza Khandwala

Dr. Muhammad Imran Usmani

Rizvi, Isa, Afridi & Angell

KPMG Taseer Hadi & Co.

3rd Floor, PNSC Building, M.T. Khan Road, Karachi-74000, PakistanPh : (9221) 5610582, Fax: (9221) 561037524/7 Call Centre 111-331-331

[email protected]

www.meezanbank.com

THK Associates (Pvt.) Ltd.State Life Building -3, Dr. Ziauddin Ahmed RoadKarachi-75530, Pakistan. Ph: (9221) 111-000-322, Fax: (9221) 5655595

Board of Directors

Shariah Supervisory Board

Audit Committee

Risk Management Committee

Human Resources Committee

Company Secretary

Shariah Advisor

Legal Advisor

Auditors

Registered Office and Head Office

E-mail

Website

Shares Registrar

3

Deposit growth is historically slow in the first quarter of the year. Notwithstanding this fact,deposits increased by Rs 2 billion over December 31, 2009 reflecting the strong demand forIslamic banking products in country. Income from core banking business also increased by17%, mainly on account of improved macro-economic conditions of the country and concertedefforts to book quality assets so as to improve the Asset Deposit Ratio of the Bank.

More importantly, profit after tax recorded substantial increase of 29% over comparative quarterof March 2009 from Rs 283 million to Rs 364 million. The core emphasis of the Bank to maintainsustained and healthy profitability has manifested itself in the first quarter results.

Specific provision of Rs 220 million has been made for non-performing portfolio thus strengtheningasset quality and increasing coverage ratio to 77% of total non performing financings.Administrative and operating expenses also increased from Rs 801 million to Rs 1,090 millionprimarily due to higher staff expenses, rent and costs associated with the increased numberof branches.

The Board of Directors is pleased to present the unaudited financial statements of Meezan BankLimited and unaudited consolidated financial statements for the quarter ended March 31, 2010.The financial highlights of Meezan Bank for the quarter and corresponding period of the last yearare given below:

D I R E C T O R S ’ R E V I E W

4

Financial Highlights

DepositsFinancingsInvestmentsDue from financial institutions(Commodity Murabaha)Total AssetsShare CapitalShareholders' Equity

Growth %

102,479,99242,664,34723,890,491

27,558,500125,460,492

6,982,5509,454,402

100,333,05144,188,06623,290,309

34,499,500124,181,734

6,650,0489,090,535

2%(3%)3%

(20%)1%5%4%

March 31,2010

December 31,2009

Rupees in '000

Profit & Loss Account

Net Spread Earned before provisions Fee, Commission, Forex & Other Income Core Banking Income before provisions Profit after Tax Earning per Share - Rupee Number of Branches (including sub-branches)

Growth %

1,449,878342,136

1,885,607363,867

0.52201

1,370,283 206,933 1,609,056 282,923

0.52 166

6%65%17%29%

-21%

March 31,2010

March 31,2009

Rupees in '000

Balance Sheet

The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japanmaintained the Bank’s long-term entity rating at A+, and upgraded the Outlook from “Stable”to “Positive”. The short-term rating has been maintained at A1.

The 5% bonus shares of Rs 333 million, approved in last Board of Directors’ meeting has beenissued to shareholders and accordingly enhanced paid-up capital now stands at Rs 6.98 billion.

The Board would like to express its sincere thanks and gratitude to the State Bank of Pakistan,the Securities and Exchange Commission of Pakistan and our Shariah Supervisory Board fortheir continued guidance and support. We also take this opportunity to thank our valuedcustomers for their patronage, the shareholders for their continued support and to the staff fortheir continuous efforts to make Meezan Bank a success.

On behalf of the Board

Ebrahim Bin Khalifa Al-Khalifa Irfan SiddiquiChairman President & CEO

Dubai:April 23, 2010

5

D I R E C T O R S ’ R E V I E W

ASSETS

Cash and balances with treasury banksBalances with other banksDue from financial institutionsInvestmentsFinancingsOperating fixed assetsDeferred tax assetOther assets

LIABILITIES

Bills payableDue to financial institutionsDeposits and other accountsSub-ordinated loanLiabilities against assets subject to finance leasesDeferred tax liabilitiesOther liabilities

NET ASSETS

REPRESENTED BY

Share capitalReservesUnappropriated profit

Surplus on revaluation of investments

CONTINGENCIES AND COMMITMENTS

C O N D E N S E D I N T E R I MB A L A N C E S H E E TAS AT MARCH 31, 2010

8,387,432 5,260,467 34,499,500 23,290,309 44,188,066 2,416,375 204,172 5,935,413 124,181,734

1,249,210 8,468,425 100,333,051

- - -

4,946,589 114,997,275 9,184,459

6,650,048 1,050,092 1,390,395 9,090,535 93,924 9,184,459

67

89

10

11

12

13

Note

--------- Rupees in '000 ---------

March 31,2010

(Unaudited)

December 31,2009

(Audited)

6

The annexed notes 1 to 20 form an integral part of these condensed interim financial statements.

8,449,193 14,212,383 27,558,500 23,890,493 42,664,344 2,510,000 466,262 5,709,317 125,460,492

1,522,075 6,163,853 102,479,992

- - -

5,698,909 115,864,829 9,595,663

6,982,550 1,122,865 1,348,987 9,454,402 141,261 9,595,663

Naser AbdulMohsen Al-Marri

Director

H.E. Sheikh Ebrahim BinKhalifa Al-Khalifa

Chairman

Irfan Siddiqui

President & CEO

Rana AhmedHumayunDirector

8

CONDENSED INTERIMSTATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)FOR THE QUARTER ENDED MARCH 31, 2010

Profit for the period

Other comprehensive income

Comprehensive income transferred to equity

Components of comprehensive income not transferred to equity


Deferred tax on revaluation of investments

Total comprehensive income


282,923

-

282,923

267,711

(25,098)

525,536

--------- Rupees in '000 ---------

March 31,2010

March 31,2009

363,867

-

363,867

59,255

(11,918)

411,204


Director


Chairman

Irfan Siddiqui

President & CEO


C O N D E N S E D I N T E R I MC A S H F L O W S TAT E M E N T ( U N A U D I T E D )FOR THE QUARTER ENDED MARCH 31, 2010

Balance as at January 1, 2009

Profit after taxation for the year

Issue of right shares

Transfer to statutory reserve

Balance as at December 31, 2009

Profit after taxation for the period

Transfer to reserve for issue of bonus shares

Issue of bonus shares


Balance as at March 31, 2010


6,341,097

1,025,351

1,724,087

-

9,090,535

363,867

-

-

-

9,454,402

4,925,961

-

1,724,087

-

6,650,048

-

-

332,502

-

6,982,550

570,114

1,025,351

-

(205,070)

1,390,395

363,867

(332,502)

-

(72,773)

1,348,987

10

CONDENSED INTERIMSTATEMENT OF CHANGES IN EQUITY (UNAUDITED)FOR THE QUARTER ENDED MARCH 31, 2010

Sharecapital

Statutoryreserve

Reserve forissue

of bonusshares

Generalreserve

UnappropriatedprofitCapital reserves Revenue

reserves Total

---------------------------------------------------- Rupees in '000 ----------------------------------------------------

778,256

-

-

205,070

983,326

-

-

-

72,773

1,056,099

-

-

-

-

-

-

332,502

(332,502)

-

-

66,766

-

-

-

66,766

-

-

-

-

66,766


Director


Chairman

Irfan Siddiqui

President & CEO


LEGAL STATUS AND NATURE OF BUSINESS

The Bank was incorporated in Pakistan on January 27, 1997 as a public limited company underthe Companies Ordinance, 1984 and its shares are quoted on the Karachi Stock Exchange. TheBank was registered as an ‘Investment Finance Company’ on August 8, 1997 and carried on thebusiness of investment banking as permitted under SRO 585(I)/87 dated July 13, 1987 inaccordance and in conformity with the principles of Islamic Shariah. A ‘certificate of commencementof business’ was issued to the Bank on September 29, 1997.

The Bank was granted a ‘Scheduled Islamic Commercial Bank’ licence on January 31, 2002 andformally commenced operations as a scheduled Islamic Commercial Bank with effect from March20, 2002 on receiving notification in this regard from the State Bank of Pakistan (SBP) undersection 37 of the State Bank of Pakistan Act, 1956. Currently, the Bank is engaged in corporate,commercial, consumer, investment and retail banking activities.

The Bank was operating through two hundred and one branches (including thirty five sub branches)as at March 31, 2010 (March 31, 2009: one hundred and sixty six branches including thirty fivesub branches). Its registered office is at 3rd Floor, PNSC Building, Moulvi Tamizuddin Khan Road,Karachi, Pakistan.

BASIS OF PRESENTATION

The Bank provides financing mainly through Murabaha, Ijarah, Musharakah, DiminishingMusharakah, Istisna, Tijarah and Export Refinance under Islamic Export Refinance Scheme.Under Murabaha the goods are purchased and are then sold to the customers on credit. Thepurchases and sales arising under these arrangements are not reflected in these condensedinterim financial statements as such but are restricted to the amount of facility actually utilisedand the appropriate portion of profit thereon. The income on such financings is recognised inaccordance with the principles of Islamic Shariah. However, income, if any, received which doesnot comply with the principles of Islamic Shariah is recognised as charity payable if so directedby the Executive Committee of the Shariah Supervisory Board.

STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the approved accountingstandards as applicable in Pakistan. Approved accounting standards comprise of such InternationalFinancial Reporting Standards issued by the International Accounting Standards Board andIslamic Financial Accounting Standards issued by the Institute of Chartered Accountants ofPakistan, as are notified under the Companies Ordinance, 1984, provisions of and directivesissued under the Companies Ordinance, 1984, and the Banking Companies Ordinance, 1962,and the directives issued by the State Bank of Pakistan (SBP). In case the requirements ofprovisions and directives issued under the Companies Ordinance, 1984, and the BankingCompanies Ordinance, 1962, and the directives issued by SBP differ, the provisions of and thedirectives issued under the Companies Ordinance, 1984, and the Banking Companies Ordinance,1962, and the directives issued by SBP shall prevail.

SBP through its BSD Circular No. 10 dated August 26, 2002 has deferred the implementationof International Accounting Standard (IAS) 39 - "Financial Instruments: Recognition andMeasurement" and IAS 40 "Investment Property" for banks in Pakistan. Accordingly, therequirements of those IASs have not been considered in preparation of these condensed interimfinancial statements.

1 .

2 .

3 .

11

NOTES TO THE CONDENSEDINTERIM FINANCIAL STATEMENTS (UNAUDITED)FOR THE QUARTER ENDED MARCH 31, 2010

The disclosures made in these condensed interim financial statements have been limited basedon the format prescribed by the State Bank of Pakistan vide BSD Circular No. 2 dated May 12,2004 and International Accounting Standard 34, 'Interim Financial Reporting'. They do not includeall of the information required for full annual financial statements, and should be read in conjunctionwith the financial statements of the Bank for the year ended December 31, 2009.

ACCOUNTING POLICIES

The accounting policies adopted in the preparation of these condensed interim financial statementsare the same as those applied in the preparation of the financial statements of the Bank for theyear ended December 31, 2009.

ACCOUNTING ESTIMATES AND ASSUMPTIONS

The preparation of condensed interim financial statements in conformity with approved accountingstandards requires the use of certain critical accounting estimates. It also requires managementto exercise judgement in the process of applying the Bank's accounting policies. The areasinvolving a higher degree of judgement or complexity, or areas where assumptions and estimatesare significant to these condensed interim financial statements are the same as those disclosedin the financial statements for the year ended December 31, 2009.

12

4.

5.

CASH AND BALANCES WITH TREASURY BANKS

In hand- local currency- foreign currenciesWith the State Bank of Pakistan in - local currency current accounts - foreign currency current accountsWith National Bank of Pakistan in - local currency current accounts

2,654,834 461,880

3,969,496 641,169

660,053 8,387,432

--------- Rupees in '000 ---------

March 31,2010

December 31,2009

3,458,353 380,640

3,409,971 642,400

557,829 8,449,193

6.

BALANCES WITH OTHER BANKS

In Pakistan - on current accounts

Outside Pakistan - on current accounts - on deposit accounts

March 31,2010

December 31,2009

665,584

4,578,659 16,224 5,260,467

--------- Rupees in '000 ---------

654,767

13,506,596 51,020 14,212,383

7.


13

The Bank purchased 22,000 certificates (12,000 on June 24, 2009 and 10,000 on June 29, 2009) of WAPDA– ISukuk through a market based transaction for a cash consideration of Rs.110.346 million (Rs. 60.53 million andRs. 49.815 million) having face value of Rs. 110 million. These Certificates were available in theseller’s CDC account and on completion of the transaction were transferred to the Bank’s CDC account. A periodicIjarah Rental was due on 22 October 2009, which was not paid to the Bank on the plea, that certain discrepancyin the Central Depository Register was the reason for non payment. The Bank through a legalnotice has clarified the position that the Bank has purchased the aforesaid Sukuk Certificates from the marketfor a valuable consideration when these Sukuks were already entered in the Central Depository Register of seller'saccount.

The legal counsel of the Bank contends that because the Sukuk Certificates were transferred through CDC accountof the seller, the Bank is the legitimate and bonafide holder of the Sukuk Certificate from the date of acquisition.

8.1.1

- 20,026,241 1,166,848 21,193,089

63,050 2,020,161 274,280 23,550,580

(387,152) 23,163,428

126,881 23,290,309

Investments by types

Held for trading securitiesAvailable for sale securitiesHeld to maturity securities

In related partiesSubsidiary (unlisted)Associates (listed)Associates (unlisted)Investments at cost / carrying valueLess : Provision for diminution in value of investments and impairmentInvestments (net of provision)

Surplus on revaluation of available for sale securitiesTotal investments at market value

INVESTMENTS

------------------------------------- Rupees in ‘000 -------------------------------------

8.

- 20,567,200 1,166,818 21,734,018

63,050 2,020,161 274,280 24,091,509

(387,152) 23,704,357

186,136 23,890,493

- 20,567,200 1,166,818 21,734,018

63,050 2,020,161 274,280 24,091,509

(387,152) 23,704,357

186,136 23,890,493

- - - -

- - - -

- -

- -

- 20,026,241 1,166,848 21,193,089

63,050 2,020,161 274,280 23,550,580

(387,152) 23,163,428

126,881 23,290,309

- - - -

- - - -

- -

- -

8.1

Held bythe bank

Given ascollateral

TotalMarch 31, 2010

Held bythe bank

Given ascollateral

TotalDecember 31, 2009

8.1.1

Note


14

9. FINANCINGS

In Pakistan - Murabaha financings - Net investment in Ijarah - Net book value of assets / investment in Ijarah under IFAS 2 - Export refinance under Islamic scheme - Diminishing musharakah financings - housing - Diminishing musharakah financings - others - Musharakah financings - Istisna financings - Tijarah financings- Labbaik financings - Financings against bills - Salam - Financings against bills - Murabaha - Loans and running financesTotal financingsLess: Provision against non-performing financingsFinancings net of provision

9.1 Murabaha receivable - grossLess: Deferred murabaha income Profit receivable shown in other assetsMurabaha financings / receivables

9.1

9.29.3

9.5

9.1.1

---------- Rupees in '000 ----------

March 31,2010

December 31,2009

16,645,275 6,527,339

1,498,191 4,944,295 3,003,063 7,541,277 80,531 3,729,059 665,260 3,959 601,802 434,864 1,041,695 46,716,610 (2,528,544) 44,188,066

17,453,157 (340,948) (466,934)

16,645,275

14,346,006 5,875,400

1,916,965 4,906,120 2,813,199 7,379,475 80,531 5,647,281 487,656 2,237 422,931 466,001 1,066,309 45,410,111 (2,745,767) 42,664,344

15,092,682 (290,154) (456,522) 14,346,006

Note

9.3 Murabaha / Istisna receivable under Islamic exportrefinance scheme - grossLess: Deferred murabaha income Profit receivable shown in other assetsExport refinance under Islamic scheme / receivables

9.3.1 ---------- Rupees in '000 ----------

March 31,2010

December 31,2009

5,063,176 (56,657) (62,224) 4,944,295

5,010,991 (52,921) (51,950) 4,906,120

Note

9.3.1 This includes advance for Murabaha and Istisna under Islamic export refinance schemeaggregating Rs. 2,029 million (Dec 31, 2009: Rs.1,431 million).

9.4 Financings include Rs. 3,576.136 million (Dec 31, 2009: Rs. 3,649.163 million) which havebeen placed under non-performing status as detailed below:

9.1.1 This includes advance for murabaha aggregating Rs.1,299 million (Dec 31, 2009: Rs 2,116 million).

9.2 Net book value of assets / investments in Ijarah under IFAS 2 is net of depreciation of Rs.321.464 million.(Dec 31, 2009: Rs.204.578 million).


2,443,282 252,728 (25,935) 226,793 (2,718) 2,667,357

85,262 -

(6,852) (6,852)

- 78,410

2,528,544 252,728 (32,787) 219,941 (2,718) 2,745,767

994,749 1,577,295 (128,581) 1,448,714 (181) 2,443,282

103,440 -

(18,178) (18,178)

- 85,262

1,098,189 1,577,295 (146,759)

1,430,536 (181)

2,528,544

15

9.5 Particulars of provision against non-performing financings:

Opening balanceCharge for the period / yearLess: Reversals

Amount written offClosing balance

------------------------------------- Rupees in '000 -------------------------------

Category of classification

SubstandardDoubtfulLoss

Domestic Overseas Total Provisionrequired

Provisionheld

---------------------- Rupees in '000 ------------------------------

197,653 825,312 2,553,171 3,576,136

----

197,653 825,312 2,553,171 3,576,136

14,628 339,527 2,313,202 2,667,357

14,628 339,527 2,313,202 2,667,357

March 31, 2010Specific General Total

December 31, 2009Specific General Total

9.6 The Bank has maintained a general reserve (provision) in accordance with the applicablerequirement of the prudential regulations for consumer financing issued by the State Bank ofPakistan.

-------- Rupees in ‘000 --------

March 31,2010

December 31,2009

10.1 Additions - cost [including net additions to capital work in progress amounting to Rs. 84.952 million

(March 31, 2009: Rs. 88.831 million)]

Disposals - cost

195,111

14,641

190,457

7,575

-------- Rupees in ‘000 --------

March 31,2010

March 31,2009

10. OPERATING FIXED ASSETS

Tangible assetsCapital work-in-progressProperty and equipment

Intangible assets

304,045 2,017,113 2,321,158 95,217 2,416,375

388,997 2,030,069 2,419,066 90,934 2,510,000


16

---------- Rupees in ’000 ----------

March 31,2010

December 31,2009

13. CONTINGENCIES AND COMMITMENTS

13.1 Direct credit substitutesGuarantee favouring - Government

13.2 Transaction related contingent liabilitiesGuarantee favouring

- Government - Banks - Others

383,184

2,491,546 64,069 2,299,168 4,854,783

390,415

2,465,304 66,516 2,397,480 4,929,300

---------- Rupees in ’000 ----------

March 31,2010

December 31,2009

11. DEPOSITS AND OTHER ACCOUNTS

Customers- Fixed deposits- Savings deposits- Current accounts - remunerative- Current accounts - non-remunerative- Margin

Financial institutions- Remunerative deposits- Non-remunerative deposits

11.1 Particulars of depositsIn- local currency- foreign currencies

12. SHARE CAPITAL

12.1 Authorised, issued, subscribed and paid-up capitalA summary of the movement in ordinary share capital is given below:

Authorised capitalAs at January 1, 2010Increase during the periodAs at March 31, 2010

Issued, subscribed and paid-up capitalAs at January 1, 2010Issue of bonus shares during the periodAs at March 31, 2010

35,051,561 37,684,543

- 28,272,978 552,535 101,561,617

911,628 6,747 918,375

102,479,992

96,788,928 5,691,064 102,479,992

1,100,000,000 -

1,100,000,000

665,004,813 33,250,240 698,255,053

32,351,628 36,107,257 250,512 28,666,058 525,275 97,900,730

2,419,546 12,775 2,432,321

100,333,051

94,892,303 5,440,748 100,333,051

11,000,000 -

11,000,000

6,650,048 332,502 6,982,550

Ordinary shares of Rs. 10 each

Rupees in ’000Number Amount


17

13.3 Trade related contingent liabilitiesImport letters of creditAcceptances

13.4 Commitments in respect of forward exchange contracts

Purchases

Sales

13.5 Commitments for the acquisition of operating fixed assets

13.6 Commitments in respect of financings

13.7 Other commitmentsBills for collection (inland)Bills for collection (foreign)

13.8 Taxation

The assessing officer had subjected to tax, the gain on foreign currency deposits claimed asexempt in the return of income of assessment year 2001-2002 and tax year 2003. The IncomeTax Appellate Tribunal (ITAT) had decided the matter in favour of the Bank in respect ofassessment year 2001-2002. The department has appealed against the decision of ITAT in theHigh Court, decision on which is still pending. The appeal for the Tax Year 2003 is pendingbefore ITAT.

The amount of tax levied by the assessing officer on such gain aggregated to Rs. 151.798million, whereas the net tax liability for the aforesaid assessment years and other relevantassessment years after considering relief for the related expenditure amounts to approximatelyRs. 41 million. The management is confident that even at the superior judicial forum the Bank'sposition will be sustained.

The tax department has not accepted the Bank’s contention on the matter of allocation ofexpenses on exempt capital gains and dividend income. The orders to this effect have alreadybeen framed for the tax years 2003 to 2008. The total additions made in tax years 2003 to 2008under this head amounts to Rs. 999.863 million, representing additional liability of Rs. 379.682million.

The Bank has challenged the matter relating to tax year 2003 in an appeal on the issue withITAT. The issue of allocation of expenses is expected to be decided on the basis of facts of thecase with the effect that financial and administrative expenses identifiable (not being thoseallocated on gross receipt basis) to earning, in relation to cost of assets on which exemptincome is generated, will be allocated to exempt income.

9,167,773 2,101,610 11,269,383

16,431,380

26,846,768

29,428

26,713,073

96,305 4,116,074 4,212,379

8,906,958 2,507,973 11,414,931

13,095,711

14,967,063

29,485

25,982,480

97,687 2,127,779 2,225,466

---------- Rupees in ‘000 ----------

March 31,2010

December 31,2009


14. PROFIT / RETURN EARNED ON FINANCINGS, INVESTMENTS AND PLACEMENTS

On financings to:- CustomersOn investments in- Available for sale securities- Held for maturity securitiesOn deposits with financial institutions

15. RETURN ON DEPOSITS AND OTHER DUES EXPENSED

Deposits and other accountsOn other short term borrowings

16. BASIC EARNINGS PER SHARE

Profit after taxation (Rupees in '000)

Weighted average number of ordinary shares

Basic earnings per share

16.1 The number of ordinary shares as at March 31, 2009 have been adjusted for element of bonusshares included in issue of right and bonus shares.

1,419,542

594,182 37,417 840,338 2,891,479

1,309,894 131,707 1,441,601

363,867

698,255,053

0.52

18

The Bank has filed appeals for tax years 2004 to 2008 with CIT (A) including that mentionedabove. CIT (A) in his order for tax year 2003 confirmed the assessment in respect of theprinciple of allocation of expenses; however, directions have been given for necessaryrectification on certain facts and basis underlying that assessment. The appeal effect order fortax year 2003 has been received resulting in additional tax liability of Rs. 14.162 million inrespect of allocation of expenses. This order is subject to rectification in respect of errorapparent from facts of the case. The Bank has already made a provision of Rs. 221 million onthat issue against the demand for the above mentioned year being the maximum exposure ofthe matter if decided as directed by ITAT. The management is confident that the ultimateoutcome of the appeal would be in favor of the Bank interalia on the basis of the advice of thetax consultants and the relevant law and the facts of the case.

1,402,282

357,148 48,433 692,301 2,500,164

1,049,137 80,744 1,129,881

282,923

540,624,283

0.52

---------- Rupees in ‘000 ----------

March 31,2010

March 31,2009

Quarter ended

Restated(Rupee)


19

18. RELATED PARTY TRANSACTIONS

18.1 Parties are considered to be related if one party has the ability to control the other party orexercise significant influence over the other party in making financial or operational decisionsand include a subsidiary company, associated companies with or without common directors,retirement benefit funds, directors and key management personnel.

18.2 A number of banking transactions are entered into with related parties in the normal course ofbusiness. These include financings, deposits and foreign currency transactions. Thesetransactions were carried out on commercial terms and at market rates.

18.3 Subsidiary company:- Al Meezan Investment Management Limited

18.4 Key management personnel:- President and Chief Executive Officer- Chief Operating Officer

18.5 The volumes of related party transactions, outstanding balances at the period / year end andtransactions, income and expenses for the respective period / year end are as follows:

17. CASH AND CASH EQUIVALENTS

Cash and balances with treasury banksBalances with other banks

8,449,193 14,212,383 22,661,576

5,556,622 4,469,626 10,026,248

---------- Rupees in ‘000 ----------

March 31,2010

March 31,2009

Quarter ended


20

- 69

10,937

12,729 691 -

-

-

Other relatedparties

Key managementpersonnel

AssociatesSubsidiaryTotal

Mar 31,2010

Mar 31,2009

Mar 31,2010

Mar 31,2009

Mar 31,2010

Mar 31,2009

Mar 31,2010

Mar 31,2009

Mar 31,2010

Mar 31,2009

------------------------------------------------------- Rupees in ‘000 -------------------------------------------------------

Profit earned on financingsReturn on deposits expensedTakaful on consumer financingsElectricity chargesDividend income earnedCharge for defined benefit planContribution to defined contribution planService charges incurredFees earnedCommission earned on letters of credit and acceptancesRemuneration to the directors and key management personnel

6,670 16,345 48,151

- 14,901 10,937

12,729 1,619 1,249

-

15,522

11,959 30,208 49,896 3,840 17,600 9,433

9,633 523 1,636

2

14,831

- 7 - - - -

- 632 1,050

-

-

- 30

- - - -

- 503 1,439

-

-

6,670 15,906 48,151

- 14,901

-

- 296 199

-

-

11,959 24,272 49,896 3,840 17,600 -

- 20 197

2

-

- 363 - - - -

- - -

-

15,522

- 1,214

- - - -

- - -

-

14,831

- 4,692 - - -

9,433

9,633 - -

-

-

- - - -

58,379

-

- -

40,347 - -

- -

- - - -

12,560

-

- -

51,284 - - - - -

143,834 141,406 (7,299) 277,941

103,077

607,032

6,859 - - - 52,681 177 2,404 103,555

- - - -

1,603

-

- 1,150 - 1,388 - - - -

- - - -

1,777

-

- 1,050

- 632

- - - -

430 - (132)

298

44,972

-

- - - - -

- -

Other relatedparties

Key managementpersonnel

AssociatesSubsidiaryTotal

Mar 31,2010

Dec 31,2009

Mar 31,2010

Dec 31,2009

Mar 31,2010

Dec 31,2009

Mar 31,2010

Dec 31,2009

Mar 31,2010

Dec 31,2009

------------------------------------------------------- Rupees in ‘000 -------------------------------------------------------Financing

At January 1,Disbursed during the period / yearRepaid during the period / yearBalance as at

Deposits

Borrowing

Balances

Profit receivable on financingsTransfer agency fee receivablePayable to defined benefit planService charges payable by the BankProfit payable on borrowingAcceptancesLetters of credit (unfunded)Prepaid Takaful

Transactions, income and expenses

144,132 141,406

(7,332) 278,206

140,989

607,032

6,859 1,050 51,284 632 52,681 177 2,404 103,555

369,257 58,127

(283,252) 144,132

209,349

607,032

1,392 1,150 40,347 1,388 36,436 -

180,780 110,689

368,827 58,127 (283,120) 143,834

104,395

607,032

1,392 - - -

36,436 -

180,780 110,689

298 - (33) 265

23,575

-

- - - - - - - -

GENERAL

The figures in these condensed interim financial statements have been rounded off to the nearest thousand rupees.

Comparative figures have been reclassified wherever necessary for the purpose of comparison.

DATE OF AUTHORISATION

These condensed interim financial statements were authorised for issue on April 23, 2010 by the Board of Directors of the Bank.

19

19.1

19.2

20


Director


Chairman

Irfan Siddiqui

President & CEO



CONSOLIDATED INTERIM FINANCIAL STATEMENTS

ASSETS

Cash and balances with treasury banksBalances with other banksDue from financial institutionsInvestmentsFinancingsOperating fixed assetsDeferred tax assetsOther assets

LIABILITIES

Bills payableDue to financial institutionsDeposits and other accountsSub-ordinated loansLiabilities against assets subject to finance leaseDeferred tax liabilitiesOther liabilities

NET ASSETS

REPRESENTED BY

Share capitalReservesUnappropriated profit

NON CONTROLLING INTEREST


CONTINGENCIES AND COMMITMENTS

The annexed notes form an integral part of these interim financial statements.

8,387,522 5,262,341 34,499,500 24,370,190 44,188,066 2,437,228 134,314

6,235,255 125,514,416

1,249,210 8,593,425 100,331,448

- - -

5,129,010 115,303,093 10,211,323

6,650,048 1,074,408 2,089,956

9,814,412 302,987 10,117,399 93,924

10,211,323

8,449,274 14,211,515 27,558,500 25,085,377 42,664,344 2,531,331 384,612

6,019,835 126,904,788

1,522,075 6,288,853 102,478,215

- - -

5,881,245 116,170,388 10,734,400

6,982,550 1,147,181 2,142,676

10,272,407 320,732

10,593,139 141,261 10,734,400

22

C O N S O L I D AT E D I N T E R I MB A L A N C E S H E E TAS AT MARCH 31, 2010

----------- Rupees in '000 -----------

March 31,2010

(Unaudited)

December 31,2009

(Audited)


Director


Chairman

Irfan Siddiqui

President & CEO


23

C O N S O L I D AT E D I N T E R I MP R O F I T A N D L O S S A C C O U N T ( U N A U D I T E D )FOR THE QUARTER ENDED MARCH 31, 2010

Profit /return on financings, investments and placementsReturn on deposits and other dues expensedNet spread earnedProvision against non- performing financings (net)Provision for impairment in value of available for sale investments

Net spread after provisions

OTHER INCOMEFee, commission and brokerage incomeDividend incomeIncome from dealing in foreign currenciesCapital gain/(loss) on sale of investmentsOther incomeTotal other income

OTHER EXPENSESAdministrative expensesOther chargesTotal other expenses

Share of results of associates before taxationPROFIT BEFORE TAXATIONTaxation - current - deferred

PROFIT AFTER TAXATIONShare of profit attributable to non controlling interestPROFIT ATTRIBUTABLE TO SHAREHOLDERSUnappropriated profit brought forwardProfit available for appropriations

Basic and diluted earnings per share - Rupees

2,501,289 1,129,851

1,371,438 325,314 32,891 358,205 1,013,233

173,380 14,240 54,867 (33,898) 19,035 227,624 1,240,857

824,654 4,732 829,386

411,471 355,216 766,687

375,451 (201,375)

174,076 592,611

(45,039) 547,572

717,684 1,265,256

1.01

--------- Rupees in '000 ---------

March 31,2010

March 31,2009

2,891,711 1,441,594

1,450,117 219,941

- 219,941 1,230,176

188,851 28,692 187,980 59,414 22,947 487,884 1,718,060

1,102,139 13,091 1,115,230

602,830 107,404 710,234 496,710 (262,216) 234,494 475,740 (17,745) 457,995

2,089,956 2,547,951

0.66



Director


Chairman

Irfan Siddiqui

President & CEO


24

CONSOLIDATED INTERIMSTATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)FOR THE QUARTER ENDED MARCH 31, 2010

Profit for the period

Other comprehensive income

Comprehensive income transferred to equity

Components of comprehensive income not transferred to equity


Deferred tax on revaluation of investments

Total comprehensive income


547,572

-

547,572

267,711

(25,098)

790,185

--------- Rupees in '000 ---------

March 31,2010

March 31,2009

457,995

-

457,995

59,255

(11,918)

505,332


Director


Chairman

Irfan Siddiqui

President & CEO


25

C O N S O L I D AT E D I N T E R I MC A S H F L O W S TAT E M E N T ( U N A U D I T E D )FOR THE QUARTER ENDED MARCH 31, 2010

CASH FLOW FROM OPERATING ACTIVITIES

Profit before taxationLess: Dividend income

Adjustments for non-cash chargesDepreciationAmortizationProvision against non-performing financings (net)Provision for impairment on available for sale investmentsGain on sale of fixed assetsShare in results of associates

(Increase) / decrease in operating assetsDue from financial institutionsHeld for trading securitiesFinancingsOther assets

Increase / (decrease) in operating liabilitiesBills payableDue to financial institutionsDeposits and other accountsOther liabilities

Income tax paidNet cash flow from operating activities

CASH FLOW FROM INVESTING ACTIVITIESNet investments in securitiesDividend receivedInvestments in operating fixed assetsSale proceeds of property and equipment disposed-offNet cash flow from investing activities

CASH FLOW FROM FINANCING ACTIVITIESNet increase in cash and cash equivalentsCash and cash equivalents at the beginning of the periodCash and cash equivalents at the end of the period


766,687 (14,240) 752,447

81,200 7,305

325,314 32,891 (5,971) (355,216) 85,523 837,970

(2,710,140) 138,095 3,757,978 584,232 1,770,165

261,321 85,664 2,740,392 592,762 3,680,139 6,288,274 (11,702)

6,276,572

(3,220,304) 25,142 (196,303) 10,733 (3,380,732)

- 2,895,840 7,129,565

10,025,405

--------- Rupees in '000 ---------

March 31,2010

March 31,2009

710,234 (28,692) 681,542

87,070 7,996 (219,941)

- (2,083) (107,404) (234,362) 447,180

6,941,000 291 1,743,663 227,437 8,912,391

272,865 (2,304,572) 2,146,767 458,495 573,555 9,933,126 (202,970) 9,730,156

(548,819) 16,675 (192,698) 5,612 (719,230)

- 9,010,926 13,649,863 22,660,789


Director


Chairman

Irfan Siddiqui

President & CEO


717,684

1,676,242

(98,900)

-

(205,070)

2,089,956

475,740

(17,745)

(332,502)

-

(72,773)

2,142,676

CONSOLIDATED INTERIMSTATEMENT OF CHANGES IN EQUITY (UNAUDITED)FOR THE QUARTER ENDED MARCH 31, 2010

26

Balance as at January 01, 2009

Profit after taxation for the year

Share of profit attributable to non

controlling interest

Issue of right shares


Balance as at December 31, 2009

Profit after taxation for the period

Share of profit attributable to non

controlling interest

Transfer to reserve for issue of bonus shares

Issue of bonus shares


Balance as at March 31, 2010


204,087

-

98,900

-

302,987

-

17,745

-

-

-

320,732

91,082

-

-

-

-

91,082

-

-

-

-

-

91,082

778,256

-

-

-

205,070

983,326

-

-

-

-

72,773

1,056,099

Unappropriatedprofit

NonControlling

InterestTotal

-------------------------------------------- Rupees in '000 --------------------------------------------

4,925,961

-

-

1,724,087

-

6,650,048

-

-

-

332,502

-

6,982,550

6,717,070

1,676,242

-

1,724,087

-

10,117,399

475,740

-

-

-

-

10,593,139

Reservefor issueof bonus

shares

Statutoryreserve

Sharecapital

CapitalReserves

-

-

-

-

-

-

-

-

332,502

(332,502)

-

-

Revenuereserves

Generalreserve


Director


Chairman

Irfan Siddiqui

President & CEO


1. BASIS OF PRESENTATION

1.1 These consolidated interim financial statements include the un-audited financial statementsof Meezan Bank Limited (MBL) (the holding company), Al-Meezan Investment ManagementLimited (AMIML) (the subsidiary), Meezan Tahaffuz Pension Fund (MTPF) (the subsidiary’scontrolled fund) collectively referred as the ‘Group’and associates namely, Al-Meezan MutualFund Ltd., Blue Water (Pvt.) Ltd., Falcon Greenwood (Pvt.) Ltd., Faysal Management Services(Private) Ltd., Plexus (Private) Ltd., Meezan Islamic Fund, Meezan Islamic Income Fund ,Meezan Balanced Fund, Meezan Capital Protected Fund, Meezan Cash Fund and MeezanSovereign Fund.

1.2 These financial statements have been prepared in accordance with the requirements ofInternational Accounting Standard (IAS) 34 ‘Interim Financial Reporting’ and are being submittedto the shareholders as required by section 237 (7) of the Companies Ordinance, 1984.

These financial statements comprise of the balance sheet as at March 31, 2010 and the profitand loss account, statement of comprehensive income, the cash flow statement and thestatement of changes in equity for the quarter ended March 31, 2010.

The comparative balance sheet presented in these financial statements as at December 31,2009 has been extracted from the audited consolidated financial statements for the yearended December 31, 2009 whereas the comparative profit and loss account, the cash flowstatement and the statement of changes in equity are for the quarter ended March 31, 2009.

2. ACCOUNTING POLICIES

The accounting policies adopted in the preparation of these financial statements are the sameas those applied in the preparation of the financial statements of the Group for the year endedDecember 31, 2009.

3. DATE OF AUTHORISATION

These consolidated interim financial statements were authorised for issue on April 23, 2010by the Board of Directors of MBL.

NOTES TO AND FORMING PART OF THECONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)FOR THE QUARTER ENDED MARCH 31, 2010

27


Director


Chairman

Irfan Siddiqui

President & CEO


BRANCH NETWORK

28

Southern RegionHub (Lasbela)Hub Chowki BranchHub City, District Lasbela, Balochistan.Tel: (92-853) 310252-3

HyderabadCloth Market BranchC/916/18, Guru Nagar,Hyderabad.Tel: (92-22) 2621341-2

Gari Khata BranchCity Survey No. F/1054,Ward - F, Gari Khata, Hyderabad.Tel: (92-22) 2725671-2

Hyderabad BranchSaddar Bazar Cantonment, Hyderabad.Tel: (92-22) 2782772

Latifabad Branch3/D Commercial Area, Latifabad # 7,Hyderabad.Tel: (92-22) 3866964-65

Market Road Sub - branchMarket Road Hyderabad, Survey No.2669,2669/1, Ward "A", Market Road,Hyderabad.Tel: (92-22) 2638362-6

Qasimabad BranchPlot # QEA/R-6/03-4,11-12, HousingScheme No. 1, Main Road Qasimabad,Hyderabad.Tel: (92-22) 2670511-15

KarachiAl-Azam Plaza Super highway BranchShop# 5(A,B) & 6(A,B), Ground Floor Sector1-A, Gulzar-e-Hijri, Karachi.Tel: (92-21) 6365780

Alamgir Road Sub - branchZ-484, Block 3, Bahaduryar JangCooperative Housing Society,Alamgir Road, Karachi.Tel: (92-21) 4140968

Allama Iqbal Road BranchMono Tower, Allama Iqbal Road,PECHS, Block 2, Karachi.Tel: (92-21) 4300996-7

Babar Market Landhi Branch2-A/167,168 & 169, Baber Market,Landhi Township, Karachi.Tel: (92-21) 35011071-75

Bahadurabad BranchAdam Arcade, Plot No. 28,BMCH Society, Karachi.Tel: (92-21) 4145021, 4145017

Bait Ul Mukarram Sub - branchShop No. S - 3 & S - 4, Yasir Apartments,FL - 6, Block 16, Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4839021-3

Barakat-e-Hyderi-BranchD10, Block H, North Nazimabad, Karachi.Tel: (92-21) 6705159

Bilawal Chowk BranchPlot No. Commercial 7/1,Green Belt Residency, Shop No. 4 & 5,Block 2, Scheme 5, Clifton, Karachi.Tel: (92-21) 5830628, 5830634, 5832083

Bin Qasim National Highway BranchSurvey No.435, Deh Landhi, Taluka BinQasim Town, Karachi.Tel: (92-21) 5012376, 5012355, 5012357

Block-E North Nazimabad Sub - branchPlot No.ST-4, Shop No A/D-66 & 67, Block “E”Hyderi, North Nazimabad Karachi.Tel: 021-36724294-96Fax: 021-36724293

Boat Basin BranchShop # 40-43, Commercial SubPlot # FL-7/C/4 of Plot # 7, Block No. 5,Clifton, Karachi.Tel: (92-21) 5870330, 5870608, 5870697

Bohrapir BranchRanchore Quarter, Prince Street,Bohrapir, Karachi.Tel: (92-21) 32712915-918, 32712909

Buffer Zone BranchR-914, Sector-15-A/1, Buffer Zone,North Karachi, KarachiTel: (92-21) 36965851-5

Clifton BranchGround Floor, Al-Karam Centre, BC1, Block-7 Clifton, Main Clifton Road, Karachi.Tel: (92-21) 537 2060-64

Cloth Market BranchAtique Market, Bunder Quarters,Karachi.Tel: (92-21) 2418137-9

DHA Phase I BranchGround Floor, Plot No. 119,DHA Phase I, Korangi Road, Karachi. Tel:(92-21) 35396854-58

DHA Phase II-Extention BranchPlot # 69 & 71, Garibsons Building, 12thCommercial Street, DHA Phase II Extension,Karachi.Tel: (92-21) 5311953-8

DHA Phase IV BranchPlot No. 57/C, 9th Commercial Street, DHAPhase IV , Karachi.Tel: (92-21) 5314861-4

Dhoraji Branch35/182, C.P. & Bearar Housing Society,Karachi.Tel: (92-21) 4860861-4

F.B Area BranchC-12, Block 10, F.B Area, Karachi.Tel: (92-21) 6805370-6

FTC BranchGround Floor, Block B, FTC Building,Shahrah-e-Faisal, Karachi.Tel: (92-21) 5650771

Garden West BranchShop # 9,10,11 & 12 (Amin Centre), PlotSurvey # 130/1, Sheet No. G-R.2, GardenWest, Karachi.Tel: (92-21) 2241383--87

Gulberg Sub - branchShop No.7, A-94, Block-18, F.B. Area,Karachi.Tel: (92-21) 6829112-4

Gulistan-e-Jauhar BranchPlot # ST -9, Block 15, Scheme 36,Gulistan-e-Jauher, Karachi.Tel: (92-21) 4030251-54

Gulshan Block 2 BranchGround Floor Arif Residency,Plot # SB 08, Gulshan -e-Iqbal Block 2,Near Rab Medical Centre, Karachi.Tel: (92-21) 34971232

Gulshan Chowrangi BranchSub Plot No 5-A/1-10, Plot # FL-5, Block 3,Gulistan-e-Erum, Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4811849, 4813967

Gulshan-e-Iqbal BranchB-41, Block No. 13-A, KDA Scheme 24,University Road, Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4811901-6

Gulshan-e-Maymar Sub - branchA-102 Shop # 1 & 2 SB, 1 Sector X - IV,Opposite Roman Fountain Park.Scheme -4, Gulshan-e-Maymar, Karachi.Tel: (92-21) 6350513-4-5

Hussainabad BranchBlock 3,Pakistan Memon Education &Welfare Society, Hussainabad, Karachi.Tel: (92-21) 6320461-62 & 6320467

I.I. Chundrigar Road BranchShop No. 9 & 10, Gul Tower, I.I. ChundrigarRoad, Karachi.Tel: (92-21) 2423676

BRANCH NETWORK

29

Allama Iqbal Road BranchMono Tower, Allama Iqbal Road,PECHS, Block 2, Karachi.Tel: (92-21) 4300996-7

Babar Market Landhi Branch2-A/167,168 & 169, Baber Market,Landhi Township, Karachi.Tel: (92-21) 35011071-75

Bahadurabad BranchAdam Arcade, Plot No. 28,BMCH Society, Karachi.Tel: (92-21) 4145021, 4145017

Bait Ul Mukarram Sub - branchShop No. S - 3 & S - 4, Yasir Apartments,FL - 6, Block 16, Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4839021-3

Barakat-e-Hyderi-BranchD10, Block H, North Nazimabad, Karachi.Tel: (92-21) 6705159

Bilawal Chowk BranchPlot No. Commercial 7/1,Green Belt Residency, Shop No. 4 & 5,Block 2, Scheme 5, Clifton, Karachi.Tel: (92-21) 5830628, 5830634, 5832083

Bin Qasim National Highway BranchSurvey No.435, Deh Landhi, Taluka BinQasim Town, Karachi.Tel: (92-21) 5012376, 5012355, 5012357

Block-E North Nazimabad Sub - branchPlot No.ST-4, Shop No A/D-66 & 67, Block “E”Hyderi, North Nazimabad Karachi.Tel: 021-36724294-96Fax: 021-36724293

Boat Basin BranchShop # 40-43, Commercial SubPlot # FL-7/C/4 of Plot # 7, Block No. 5,Clifton, Karachi.Tel: (92-21) 5870330, 5870608, 5870697

Jodia Bazaar BranchH-91 A, Darya Lal Street, Jodia Bazaar,Karachi.Tel: (92-21) 2473326-9

Katchi Gali No.2 BranchNo. G-1, situated at Katchi Gali No. 2,Marriot Road, Karachi.Tel: (92-21) 32443526-27

K.A.E.C.H.S BranchPlot No. SA/49 (Commercial), Block-4,Karachi Administration EmployeesCooperative Housing Society, Karachi.Tel: (92-21) 4302911-5

Khayaban-e-Bukhari BranchShop # 1-2 & Mezanine Floor,Plot No. 22-C, Khayaban-e-Bokhari,Phase VI, DHA, KarachiTel: (92-21) 5243561-65

Khayaban-e-Sehar Branch9-C, Shahbaz Commercial. Lane 1,Khayaban-e-Sehar, Phase VI, DHA, Karachi.Tel: (92-21) 5349307-13, 5349316-18

Khayaban-e-Shamsheer Branch3-C, Khayaban-e-Shamsheer,Phase V Ext., D.H.A, Karachi.Tel: (92-21) 5247600-4

Korangi BranchPlot No. LS 3, ST-3/1, Sector No. 15, KorangiIndustrial Area, Karachi.Tel: (92-21) 5114324-5, 5114281, 5114279

Korangi II Sub - branchQ 37, Sector 33-A, Main Road Korangi,Karachi.Tel: (92-21) 5059215-16

Marriott Hotel BranchMarriott Hotel, Abdullah Haroon Road,Karachi.Tel: (92-21) 5683491

Millennium Mall Sub - branchShop # M 21 -22, Millennium Classic MegaMall , Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4838030

Model Colony Sub - branchPlot No.06, Survey No.N-55, Tina Square,Model Colony, Malir, Karachi.Tel: (92-21) 4492445-7

Muhammad Ali Society BranchFatima Jinnah Street, Muhammad AliHousing Society, Karachi.Tel: (92-21) 4301863-4

Nazimabad No. 3 Branch3-A-1/13 Nazimabad No. 3, Karachi.Tel: (92-21) 36707431-34

New Challi BranchPlot # SR-7/26 & 27, Survey No.25, OldSurvey B-15/12, Serai Quaters, New Challi,Karachi.Tel: (92-21) 2210661, 2210990, 2211158,

North Karachi BranchPlot # SA-6 (ST-8), 11-C-1, North Karachi,Karachi.Tel: (92-21) 6965051-55

North Karachi Industrial Area BranchPlot No.1-A, Sector 12-C, North KarachiTownship, Karachi.Tel: (92-21) 6963117-21

North Napier Road BranchShop No.12, Poonawala Trade Tower, MainNorth Napier Road, Karachi.Tel: (92-21) 2713530-34

North Nazimabad BranchShop# 9-12, Sub-plot# SC14-3, plot# SC-14, Block-F, KDA Scheme No.2, SamarResidency, North Nazimabad, Karachi.Tel: (92-21) 6723549-554

BRANCH NETWORK

30

Garden West BranchShop # 9,10,11 & 12 (Amin Centre), PlotSurvey # 130/1, Sheet No. G-R.2, GardenWest, Karachi.Tel: (92-21) 2241383--87

Gulberg Sub - branchShop No.7, A-94, Block-18, F.B. Area,Karachi.Tel: (92-21) 6829112-4

Gulistan-e-Jauhar BranchPlot # ST -9, Block 15, Scheme 36,Gulistan-e-Jauher, Karachi.Tel: (92-21) 4030251-54

Gulshan Block 2 BranchGround Floor Arif Residency,Plot # SB 08, Gulshan -e-Iqbal Block 2,Near Rab Medical Centre, Karachi.Tel: (92-21) 34971232

Gulshan Chowrangi BranchSub Plot No 5-A/1-10, Plot # FL-5, Block 3,Gulistan-e-Erum, Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4811849, 4813967

Gulshan-e-Iqbal BranchB-41, Block No. 13-A, KDA Scheme 24,University Road, Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4811901-6

Gulshan-e-Maymar Sub - branchA-102 Shop # 1 & 2 SB, 1 Sector X - IV,Opposite Roman Fountain Park.Scheme -4, Gulshan-e-Maymar, Karachi.Tel: (92-21) 6350513-4-5

Hussainabad BranchBlock 3,Pakistan Memon Education &Welfare Society, Hussainabad, Karachi.Tel: (92-21) 6320461-62 & 6320467

I.I. Chundrigar Road BranchShop No. 9 & 10, Gul Tower, I.I. ChundrigarRoad, Karachi.Tel: (92-21) 2423676

Orangi Town BranchPlot # LS-15, Sector 6-E,Orangi Town, KarachiTel: (92-21) 36694370-74

Plaza Quarters Sub - branchPlaza Square Karachi, Bombay Building,City Survey No. 37/22, Off M.A. JinnahRoad, Karachi.Tel: (92-21) 2751560 ,2751124, 2751132,

PNSC BranchGround floor at 37- A, Lalazar Area, Off M.T.Khan Road, Karachi.Tel: (92-21) 5636240-54

Saddar BranchSaddar Bazar Quarters, Raja G. Ali KhanRoad, Karachi.Tel: (92-21) 5224601-05

Shahrah-e-Faisal Branch29-A, Ground Floor, Sabah Palace,P.E.C.H.S. Block 6, Shahrah-e-Faisal,Karachi.Tel: (92-21) 4322186-90

Shah Faisal Colony BranchCB-33, Al Falah Society,Shah Faisal Colony, KarachiTel: (92-21) 34686271-3, 34600601-2

Shamsi Society BranchCM 44 & 45, Ground floor, ShamsiCooperative Housing Society, Malir Halt,Karachi.Tel: (92-21) 4682405-07

Shireen Jinnah Colony Sub - branchPlot no ST-4B block 1, Shireen JinnahColony, Karachi.Tel: (92-21) 5833025, 5836758, 5836780

S.I.T.E BranchPlot No. B/9-C, Estate Avenue, SITE Area,Karachi.Tel: (92-21) 2550328-31

SITE II BranchProperty # H-6 Site Survey Sheet No 21,Survey Sheet No 35 P/1-35 L/ 13, SITE,Karachi.Tel: (92-21) 2584850-53, 58-59

Water Pump BranchPlot No. BS-13, Block-14,Federal B. Area, Karachi.Tel: (92-21) 6332443, 6332523

MirpurkhasMirpurkhas BranchPlot # 15, Ward No. A, Adam Mohallah Townat Umerkot Road, Mirpurkhas.Tel: (233) 876103,08

NawabshahNawabshah BranchPlot # 573, Ground Floor, Ward “B”, KatcheriRoad, Nawabshah.Tel: (92-244) 330902-6

QuettaLiaquat Bazar Sub - branchKhasra No. 155, Ward 22, Tappa Urban 1,Najeebullah Street, Liaquat Bazar, Quetta.Tel: (92-81) 2840195-16

Munsafi Road Branch2-17/16 Munsafi Road, Quetta.Tel: (92-81) 2845593-4

Quetta BranchManan Chowk, Jinnah Road, Quetta.Tel: (92-81) 2829470-2

Sirki Road BranchShop No. 1 & 2, Kasi Complex, Sirki Road,Quetta.Tel: (92-81) 2454222-3

SakrandSakrand Sub - branchDeh. 18, Taluka City Sakrand, DistrictNawabshah.Tel: (92-244) 322047-54-56-57

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Millennium Mall Sub - branchShop # M 21 -22, Millennium Classic MegaMall , Gulshan-e-Iqbal, Karachi.Tel: (92-21) 4838030

Model Colony Sub - branchPlot No.06, Survey No.N-55, Tina Square,Model Colony, Malir, Karachi.Tel: (92-21) 4492445-7

Muhammad Ali Society BranchFatima Jinnah Street, Muhammad AliHousing Society, Karachi.Tel: (92-21) 4301863-4

Nazimabad No. 3 Branch3-A-1/13 Nazimabad No. 3, Karachi.Tel: (92-21) 36707431-34

New Challi BranchPlot # SR-7/26 & 27, Survey No.25, OldSurvey B-15/12, Serai Quaters, New Challi,Karachi.Tel: (92-21) 2210661, 2210990, 2211158,

North Karachi BranchPlot # SA-6 (ST-8), 11-C-1, North Karachi,Karachi.Tel: (92-21) 6965051-55

North Karachi Industrial Area BranchPlot No.1-A, Sector 12-C, North KarachiTownship, Karachi.Tel: (92-21) 6963117-21

North Napier Road BranchShop No.12, Poonawala Trade Tower, MainNorth Napier Road, Karachi.Tel: (92-21) 2713530-34

North Nazimabad BranchShop# 9-12, Sub-plot# SC14-3, plot# SC-14, Block-F, KDA Scheme No.2, SamarResidency, North Nazimabad, Karachi.Tel: (92-21) 6723549-554

SukkurMarch Bazar Sub - branchC-45, Station Road, Sukkur.Tel: (92-71) 5620771-3

Sukkur Branch3-45, Ward-C, Station Road, Sukkur.Tel: (92-71) 5617192-94

Tando AdamTando Adam BranchMuhammad Chowk,Tando Adam, District Sanghar.Tel: (92-235) 576565-66

Tando AllahyarTando Allahyar BranchSurvey No. 1610/07, Opposite General BusStand, Tando Allahyar.Tel: (92-22) 3892021, 3891242

Central RegionArifwalaArifwala Branch3-A, Lakkar Mandi, City Road, Arifwala.Tel: (92-457) 834502-3

BahawalpurBhawalpur BranchMilad Chowk, Eidgah Road, Bahawalpur.Tel: (92-62) 2732145-7

BurewalaBurewala BranchMultan Road, Opp. College Road, Burewala.Tel: (92-67) 3773751-4

ChiniotSharah-e-Quaid-e-Azam Chiniot BranchP-468, AI-469 II,Shahrah-e-Quaid-e-Azam, Chiniot.Tel: (92-47) 6331103-4

DaskaDaska BranchRest House Chowk, Gujranwala Road,Daska.Tel: (92-52) 6612837-41

Dera Ghazi KhanDera Ghazi Khan BranchJampur Road, Dear Ghazi Khan.Tel: (92-64) 2474255-7

FaisalabadBhowana Bazar Sub - branch150-D .B V, Gole Bhowana Bazar,Faisalabad.Tel: (92-41) 2633042-4

Clock Tower BranchP-175 Clock Tower, Karkhana Bazar,Faisalabad.Tel: (92-41) 2606085-87

Dijkot Road BranchShops# 68 & 69, Dijkot Road, Adjacent toGrain Market, Faisalabad.Tel: (92-41) 2416141-4

Millat Chowk Branch158-B-1 Gulistan Colony No 2,Millat Chowk, FaisalabadTel: (92-41) 8784346-7

Kotwali Road BranchP-63 Kotwali Road, Faisalabad.Tel: (92-41) 2602587

Peoples Colony Branch1/A-II, Peoples Colony-1, Faisalabad.Tel: (92-41) 8555002-4

Satyana Road BranchP 719 Batala Colony, Main Satyana Road,Faisalabad.Tel: (92-41) 8500715-20

Serena Hotel BranchSerena Hotel, Club Road, Faisalabad.Tel: (92-41) 2602595-7

GojraGojra Sub - branchEx Al Khalid Shopping Centre, OppositeSuriya Hospital, Tahsil Office Road, Gojra.Tel: (92-46) 3516272-3

BRANCH NETWORK

32

SITE II BranchProperty # H-6 Site Survey Sheet No 21,Survey Sheet No 35 P/1-35 L/ 13, SITE,Karachi.Tel: (92-21) 2584850-53, 58-59

Water Pump BranchPlot No. BS-13, Block-14,Federal B. Area, Karachi.Tel: (92-21) 6332443, 6332523

MirpurkhasMirpurkhas BranchPlot # 15, Ward No. A, Adam Mohallah Townat Umerkot Road, Mirpurkhas.Tel: (233) 876103,08

NawabshahNawabshah BranchPlot # 573, Ground Floor, Ward “B”, KatcheriRoad, Nawabshah.Tel: (92-244) 330902-6

QuettaLiaquat Bazar Sub - branchKhasra No. 155, Ward 22, Tappa Urban 1,Najeebullah Street, Liaquat Bazar, Quetta.Tel: (92-81) 2840195-16

Munsafi Road Branch2-17/16 Munsafi Road, Quetta.Tel: (92-81) 2845593-4

Quetta BranchManan Chowk, Jinnah Road, Quetta.Tel: (92-81) 2829470-2

Sirki Road BranchShop No. 1 & 2, Kasi Complex, Sirki Road,Quetta.Tel: (92-81) 2454222-3

SakrandSakrand Sub - branchDeh. 18, Taluka City Sakrand, DistrictNawabshah.Tel: (92-244) 322047-54-56-57

GujranwalaDal Bazar Sub - branchProperty # BII-19S-31, Near ChowkChashma, Dal Bazar, Gujranwala.Tel: (92-55) 4227592-6

Kashmir Plaza BranchKashmir Plaza, Near Ghalla Mandi G.TRoad, Gujranwala.Tel: (92-55) 3847205-8

Wapda Town Gujranwala BranchBlock No.13, Wapda Town, Gujranwala.Tel: (92-55) 4283902-5

GujratGujrat BranchAmin Fan Building, G.T Road, Gujrat.Tel: (92-53) 3538104-7

HafizabadHafizabad BranchSagar Road Branch, Hafizabad.Tel: (92-54) 7540811-2

JhangRail Bazar Chowk BranchP-864, Block-9, Circular Road,Rail Bazar Chowk, JhangTel: (92-47) 7652203-4

Yousaf Shah Road BranchP- 5 Yousaf Shah Road ,Near Church Chowk, Jhang.Tel: (92-47) 7652101-3

KasurKasur Branch216-9R-IV, Railway Road, Kasur.Tel: (92-492)2764999

KhanpurKhanpur BranchKutchery Road, Khanpur.Tel: (92-68) 5577127-8

KhushabKatha Chowk Khushab BranchP-4106-27-1, Sargodha Road,Katha Chowk, Khushab.Tel: (92-454) 711683-84

LahoreAkbar Chowk Branch885-D, Akbar Chowk, Faisal Town, Lahore.Tel: (92-42) 5201425-26

Akbari Mandi BranchOutside Akbari Mandi, Circular Road,Lahore.Tel: (92-42) 37660967,69-70

Allama Iqbal Town Branch8, Hunza Block, Allama Iqbal Town, Lahore.Tel: (92-42) 5296701-5

Azam Cloth Market Branch61 Chandni Chowk, Azam Cloth Market,Lahore.Tel: (92-42) 7642011-2

Bedian Road BranchKhasra # 3799, Mauza LIDHAR, MainBedian Road, Lahore.Tel: (92-42) 5749607-10

Brandrath Road Branch46 Brandrath Road, Lahore.Tel: (92-42) 7676388-92

Cavalry Ground Branch72-Commercial Area, Cavalry Ground,Lahore Cantt.Tel: (92-42) 6619780-3

Circular Road Branch141-Circular Road,Out side ShahAlam Gate, Lahore.Tel: (92-42) 7642001-4

College Road Branch6-2/C-1, College Road Township,Lahore.Tel: (92-42) 5157184-6

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Dera Ghazi KhanDera Ghazi Khan BranchJampur Road, Dear Ghazi Khan.Tel: (92-64) 2474255-7

FaisalabadBhowana Bazar Sub - branch150-D .B V, Gole Bhowana Bazar,Faisalabad.Tel: (92-41) 2633042-4

Clock Tower BranchP-175 Clock Tower, Karkhana Bazar,Faisalabad.Tel: (92-41) 2606085-87

Dijkot Road BranchShops# 68 & 69, Dijkot Road, Adjacent toGrain Market, Faisalabad.Tel: (92-41) 2416141-4

Millat Chowk Branch158-B-1 Gulistan Colony No 2,Millat Chowk, FaisalabadTel: (92-41) 8784346-7

Kotwali Road BranchP-63 Kotwali Road, Faisalabad.Tel: (92-41) 2602587

Peoples Colony Branch1/A-II, Peoples Colony-1, Faisalabad.Tel: (92-41) 8555002-4

Satyana Road BranchP 719 Batala Colony, Main Satyana Road,Faisalabad.Tel: (92-41) 8500715-20

Serena Hotel BranchSerena Hotel, Club Road, Faisalabad.Tel: (92-41) 2602595-7

GojraGojra Sub - branchEx Al Khalid Shopping Centre, OppositeSuriya Hospital, Tahsil Office Road, Gojra.Tel: (92-46) 3516272-3

KhushabKatha Chowk Khushab BranchP-4106-27-1, Sargodha Road,Katha Chowk, Khushab.Tel: (92-454) 711683-84

LahoreAkbar Chowk Branch885-D, Akbar Chowk, Faisal Town, Lahore.Tel: (92-42) 5201425-26

Akbari Mandi BranchOutside Akbari Mandi, Circular Road,Lahore.Tel: (92-42) 37660967,69-70

Allama Iqbal Town Branch8, Hunza Block, Allama Iqbal Town, Lahore.Tel: (92-42) 5296701-5

Azam Cloth Market Branch61 Chandni Chowk, Azam Cloth Market,Lahore.Tel: (92-42) 7642011-2

Bedian Road BranchKhasra # 3799, Mauza LIDHAR, MainBedian Road, Lahore.Tel: (92-42) 5749607-10

Brandrath Road Branch46 Brandrath Road, Lahore.Tel: (92-42) 7676388-92

Cavalry Ground Branch72-Commercial Area, Cavalry Ground,Lahore Cantt.Tel: (92-42) 6619780-3

Circular Road Branch141-Circular Road,Out side ShahAlam Gate, Lahore.Tel: (92-42) 7642001-4

College Road Branch6-2/C-1, College Road Township,Lahore.Tel: (92-42) 5157184-6

Cloth Market Sub - branch73-B, Kashmir Block,Azam Cloth Market, Lahore.Tel: (92-42) 7380461-5

DHA Phase I Branch167- G, DHA Phase I, Lahore.Tel: (92-42) 5742891-2

DHA Phase III Branch152-Y, Phase IIIC, DHA, Lahore.Tel: (92-42) 5692591-2, 5895584

DHA Phase IV BranchPlot # 85-CCA, Phase IV (Comm.), DefenseHousing Authority, Lahore.Tel: (92-42) 5747761-2

Gulberg Branch60 - Main Boulevard Gulberg, Lahore.Tel: (92-42) 5879870-2

Gulshan-e-Ravi BranchF-9 Gulshan-e-Ravi, Lahore.Tel: (92-42) 7404822-25

Hall Road BranchHall Road, Lahore.Tel: (92-42) 37211806-8

Ichra Sub - branch156-Main Ferozepur Road, Ichra, Lahore.Tel: (92-42) 7522989-91

Johar Town Branch63/R-1, M.A Johar Town Branch, Lahore.Tel: (92-42) 5314631-34

Karim Block Sub - branchBaig Plaza, 21 Commercial Zone, KarimBlock, Allama Iqbal Town, Lahore.Tel: (92-42) 5296701-5

Main Boulevard Sub - branchShop # 5 & 6, Ground Floor, Usman Arcade,Main Boulevard, DHA, Lahore.Tel: (92-42) 6621482-4

Model Town C Block Sub - branch181-Model Town, C Block, Lahore.Tel: (92-42) 45844201-4

Model Town, Link Road Sub - branch39-40, New Liberty Tower(opp. Pace), ModelTown Link Road, Lahore.Tel: (92-42) 5942356-7

Zarrar Shaheed Road BranchKhasra #3939 / 3296, Block-B, Al-Faisal Town,Zarrar Shaheed Road, Lahore Cantt.Tel:042-36674862Fax:042-36674863

New Garden Town BranchGround Floor, Ibrahim Centre, 1-Aibak Block,New Garden Town, Lahore.Tel: (92-42) 5941474-77

Peco Road Badami Bagh Branch,35-Peco Road, Badami Bagh, Lahore.Tel: (92-42) 7369610-13

Punjab Cooperative Housing Society Branch66-F, Phase I, Punjab Co-operative HousingSociety, Ghazi Road, Lahore Cantt.Tel: (92-42) 5924683-4

Q-Block DHA Phase II Branch295-Q Commercial Area,Phase II DHA, Lahore.Tel: (92-42) 5708324-7

Qartaba Chowk BranchRehman Chamber, Lahore.Tel: (92-42) 7112404, 7112406-10

Ravi Road Branch33, Main Ravi Road,Opposite Bilal Masjid, Lahore.Tel: (92-42) 7706835-37

Shad Bagh Sub - branch13-A, Tajpura Chowk, Near PTCL exchange,Shad Bagh, Lahore.Tel: (92-42) 7600667-9

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34

Model Town C Block Sub - branch181-Model Town, C Block, Lahore.Tel: (92-42) 45844201-4

Model Town, Link Road Sub - branch39-40, New Liberty Tower(opp. Pace), ModelTown Link Road, Lahore.Tel: (92-42) 5942356-7

Zarrar Shaheed Road BranchKhasra #3939 / 3296, Block-B, Al-Faisal Town,Zarrar Shaheed Road, Lahore Cantt.Tel:042-36674862Fax:042-36674863

New Garden Town BranchGround Floor, Ibrahim Centre, 1-Aibak Block,New Garden Town, Lahore.Tel: (92-42) 5941474-77

Peco Road Badami Bagh Branch,35-Peco Road, Badami Bagh, Lahore.Tel: (92-42) 7369610-13

Punjab Cooperative Housing Society Branch66-F, Phase I, Punjab Co-operative HousingSociety, Ghazi Road, Lahore Cantt.Tel: (92-42) 5924683-4

Q-Block DHA Phase II Branch295-Q Commercial Area,Phase II DHA, Lahore.Tel: (92-42) 5708324-7

Qartaba Chowk BranchRehman Chamber, Lahore.Tel: (92-42) 7112404, 7112406-10

Ravi Road Branch33, Main Ravi Road,Opposite Bilal Masjid, Lahore.Tel: (92-42) 7706835-37

Shad Bagh Sub - branch13-A, Tajpura Chowk, Near PTCL exchange,Shad Bagh, Lahore.Tel: (92-42) 7600667-9

Shadman Colony Branch91 Shadman Colony - 1 , Shadman, Lahore.Tel: (92-42) 7522976 - 9

Shahdra Branch113 G.T. Road, Lahore.Tel: (92-42) 7921266-7

Shahalam Market BranchD-2050, Fawara Chowk, Inside ShahalamMarket, Lahore.Tel: (92-42) 7377340 - 43

Shalimar Garden BranchShalimar Garden, Baghban Pura, LahoreTel: (92-42) 6846584-8

Thokar Niaz Baig BranchAhmed Centre,1.5 KM Raiwand Road, Lahore.Tel: (92 42) 7516128-30

Urdu Bazar Branch4-Kabeer Street, Urdu Bazar, Lahore.Tel: (92-42) 7116684-7

Walton Road BranchE-29/21-A, Bank Stop,Walton Road, Lahore.Tel: (92-42) 6626602-5

LalamusaLalamusa BranchCol. Plaza, Plot No.9, Camping Ground,G.T. Road, Lalamusa.Tel: (92-53) 513022, 7513032

Mandi BahauddinMandi Bahauddin BranchPlot No 5/181 ward No 5, Outside GhallahMandi, Near Tawakli Masjid,Mandi Bahauddin.Tel: (92-546) 520931-33

Mian ChannuMian Channu Branch17-B, Ghazi More, G.T. Road,Mian Channu.Tel: (92-65) 2662001-3

MultanBosan Road BranchChungi No. 9, Lawyers Colony,Bosan Road, Multan.Tel: (92-61) 6210090-92

Chowk Shaheedan BranchChowk Shaheedan, Multan.Tel: (92-61) 4502906-09

Gulgasht Sub - branch437/C Gulgashat Colony, Multan.Tel: (92-61) 6511931-2

Hussain Agahi BranchProperty # 2560,Ward # 10, Hussain Agahi Road, Multan.Tel: (92-61) 4512206-07

Old Bahawalpur Road BranchMehar Fatima Tower,Opp. Multan High Court,Old Bahawalpur Road, Multan.Tel: (92-61) 4785604-7

Shah Rukn-e-Alam Sub - branchShop # 26-27, Block F,Main Market, T-Chowk, Shah Rukn-e-AlamColony, Multan.Tel: (92-61) 6784324-5

Vehari Road BranchRehman Commercial Centre, Near GrainMarket, Vehari Road, Multan.Tel: (92-61) 6244153-5

OkaraOkara BranchMA Jinnah Road, Okara.Tel: (92-44) 2521935-7

Rahim Yar KhanRahim Yar Khan Branch17, 18 City Centre, Rahim Yar Khan.Tel: (92-68) 5887603-4

BRANCH NETWORK

35

MultanBosan Road BranchChungi No. 9, Lawyers Colony,Bosan Road, Multan.Tel: (92-61) 6210090-92

Chowk Shaheedan BranchChowk Shaheedan, Multan.Tel: (92-61) 4502906-09

Gulgasht Sub - branch437/C Gulgashat Colony, Multan.Tel: (92-61) 6511931-2

Hussain Agahi BranchProperty # 2560,Ward # 10, Hussain Agahi Road, Multan.Tel: (92-61) 4512206-07

Old Bahawalpur Road BranchMehar Fatima Tower,Opp. Multan High Court,Old Bahawalpur Road, Multan.Tel: (92-61) 4785604-7

Shah Rukn-e-Alam Sub - branchShop # 26-27, Block F,Main Market, T-Chowk, Shah Rukn-e-AlamColony, Multan.Tel: (92-61) 6784324-5

Vehari Road BranchRehman Commercial Centre, Near GrainMarket, Vehari Road, Multan.Tel: (92-61) 6244153-5

OkaraOkara BranchMA Jinnah Road, Okara.Tel: (92-44) 2521935-7

Rahim Yar KhanRahim Yar Khan Branch17, 18 City Centre, Rahim Yar Khan.Tel: (92-68) 5887603-4

BRANCH NETWORK

36

SadiqabadSadiqabad Branch31-D Main Bazar, Sadiqabad.Tel: (92-68) 5701207-8

SahiwalSahiwal Branch276-B-I, Alpha Tower, High Street, Sahiwal.Tel: (92-40) 4465009 / 4466592

SargodhaMuslim Bazar Branch12-Block Chowk, Muslim Bazar, Sargodha.Tel: (92 48) 3741609-13

Sargodha Branch91 Civil Lines, University Road, Sargodha.Tel: (92-48) 3741608-10

SheikhupuraSheikhupura BranchCivic Center, Sargodha Road, Sheikhupura.Tel: (92-56) 3813360-2

SialkotKashmir Road BranchKashmir Road, Sialkot.Tel: (92-52) 4295301-3

Kutchery Road Sub - branchKutchery Road, Sialkot.Tel: (92-52) 4263461

Northern RegionAbbottabadAbbottabad BranchPlot No. 843-846, Manshera Road,Abbottabad.Tel: (92-992) 344701-3

Abbotabad Sub - branchPMC Chowk, Main Bazar, Abbottabad.Tel: (92-992) 341990 - 92

AttockAttock BranchB-143, Fawwara Chowk, Civil Bazar, Attock.Tel: (92-572) 701003-5

Dera Ismail KhanDera Ismail Khan BranchEast Circular Road, Dera Ismail Khan.Tel: (92-966) 717257-8

DinaDina BranchAl-Bilal Shoping Centre, Main Chowk,G.T. Road, Dina, Distt. Jehlum.Tel: (92-544) 636119-21

Gujar KhanGujar Khan BranchB-III, 215-E, G.T. Road, Gujar Khan.Tel: (92-51) 3515679-83

HaripurHaripur BranchRehana Plaza, G.T. Road, Haripur.Tel: (92-995) 627250 - 3

Main Bazar Sub - branchMain Bazar, Near Sheranwala Gate, Haripur.Tel: (92-995) 615-103, 615-322

HavelianHavelian BranchNear Old TMA Office, Main Bazar Havelian,Distt. AbbottabadTel: (92-992) 811501-03

IslamabadAabpara BranchPlot # Ramna 6/1-4, Aabpara Market, SectorG-6, Islamabad.Tel: (92-51) 2603061-64

Barakahu Sub - branchFazal ul Haq Plaza, Main Murree Road,Baharakahu, Islamabad.Tel: (92-51) 2232881-82

F-7 Jinnah Super Market BranchUnit No. 14, Plot No. 12-B, F-7 Markaz,Jinnah Super Market, Islamabad.Tel: (92-51) 2655001-04

Dera Ismail KhanDera Ismail Khan BranchEast Circular Road, Dera Ismail Khan.Tel: (92-966) 717257-8

DinaDina BranchAl-Bilal Shoping Centre, Main Chowk,G.T. Road, Dina, Distt. Jehlum.Tel: (92-544) 636119-21

Gujar KhanGujar Khan BranchB-III, 215-E, G.T. Road, Gujar Khan.Tel: (92-51) 3515679-83

HaripurHaripur BranchRehana Plaza, G.T. Road, Haripur.Tel: (92-995) 627250 - 3

Main Bazar Sub - branchMain Bazar, Near Sheranwala Gate, Haripur.Tel: (92-995) 615-103, 615-322

HavelianHavelian BranchNear Old TMA Office, Main Bazar Havelian,Distt. AbbottabadTel: (92-992) 811501-03

IslamabadAabpara BranchPlot # Ramna 6/1-4, Aabpara Market, SectorG-6, Islamabad.Tel: (92-51) 2603061-64

Barakahu Sub - branchFazal ul Haq Plaza, Main Murree Road,Baharakahu, Islamabad.Tel: (92-51) 2232881-82

F-7 Jinnah Super Market BranchUnit No. 14, Plot No. 12-B, F-7 Markaz,Jinnah Super Market, Islamabad.Tel: (92-51) 2655001-04

F-8 BranchPanther Plaza, F-8 Markaz, Islamabad.Tel: (92-51) 2817403-05

F-10 Markaz BranchPlot No. 2-F, F-10 Markaz, Islamabad.Tel: (92-51) 2112762-63 , 2112769 , 2112733

F-11 BranchShops# 2,3,9,10,11 &12, Ground Floor,Sardar Arcade, F-11 Markaz, Islamabad.Tel: (92-51) 2228384-5, 2228388-89

I-9 BranchPlot No. 2/A, Industrial Area, I-9, Islamabad.Tel: (92-51) 4859644-47

I-10 BranchShop # 7-10, Ground Floor, Ahmadal Plaza,Plot # 3-I, Sector I-10 Markaz, Islamabad.Tel: (92-51) 4432711-13

Jinnah Avenue BranchNo. 32, Sohrab Plaza, Jinnah Avenue, BlueArea, Islamabad.Tel: (92-51) 2276712-5, 2801112-5

JhelumJhelum BranchB-VI-24-S.II, Meher Plaza,Civil Lines, Jhelum.Tel: (92-544) 611751-5

KohatKohat Branch1st Floor, Jinnah Municipal Plaza, TMA,Near King Gate, Bannu Road-Kohat.Tel: (92-922) 523037-40

MansehraLari Adda Sub - branchNear Madni Masjid, Lari Adda, KarakuramHighway, Mansehra.Tel: (92-997) 307640-42

Mansehra BranchMeezan Plaza, Near Markazi Jamia Masjid,Abbottabad Road.Tel: (92-997) 308315-18

MardanMardan BranchBank Road, Mardan.Tel: (92-937) 9230561-3

Par Hoti BranchMalik Khalid Khan Market, Par Hoti, Mardan.Tel: (92-937) 560013-4

MuzaffarabadMadina Market Muzaffarabad A.K. BranchMohallah Madina Market, Muzaffarabad.Tel: (92-5822) 920457-9, 920458-60

Muzaffarabad Branch (AJK)Secretariat Road, Sathra Muzaffarabad,Azad Jammu & Kashmir (AJK).Tel: (92-58810) 42154-56

NowsheraNowshera BranchShobra Hotel, G.T Road, Nowshera Cantt.Tel: (92-3) 613174-76

PeshawarChowk Yadgar BranchMohmand Plaza, Naz Cinema Road,Peshawar City, Peshawar.Tel: (92-91) 9213950-2

G.T. Road BranchAl-Arif House, Near Al-Amin Hotel, GT Road,Peshawar.Tel: (92-91) 9214001-4

Karkhano Market BranchRoyal Shopping Plaza, Hayatabad,Peshawar.Tel: (92-91) 5893471-4

Khyber Bazar Sub - branchPlot # 78, Shoba Chowk ,Khyber Bazar, Peshawar.Tel: (92-91) 2564019-21

Saddar Road Branch6 Saddar Road, Peshawar Cantt, Peshawar.Tel: (92-91) 9213471-5

BRANCH NETWORK

37

MardanMardan BranchBank Road, Mardan.Tel: (92-937) 9230561-3

Par Hoti BranchMalik Khalid Khan Market, Par Hoti, Mardan.Tel: (92-937) 560013-4

MuzaffarabadMadina Market Muzaffarabad A.K. BranchMohallah Madina Market, Muzaffarabad.Tel: (92-5822) 920457-9, 920458-60

Muzaffarabad Branch (AJK)Secretariat Road, Sathra Muzaffarabad,Azad Jammu & Kashmir (AJK).Tel: (92-58810) 42154-56

NowsheraNowshera BranchShobra Hotel, G.T Road, Nowshera Cantt.Tel: (92-3) 613174-76

PeshawarChowk Yadgar BranchMohmand Plaza, Naz Cinema Road,Peshawar City, Peshawar.Tel: (92-91) 9213950-2

G.T. Road BranchAl-Arif House, Near Al-Amin Hotel, GT Road,Peshawar.Tel: (92-91) 9214001-4

Karkhano Market BranchRoyal Shopping Plaza, Hayatabad,Peshawar.Tel: (92-91) 5893471-4

Khyber Bazar Sub - branchPlot # 78, Shoba Chowk ,Khyber Bazar, Peshawar.Tel: (92-91) 2564019-21

Saddar Road Branch6 Saddar Road, Peshawar Cantt, Peshawar.Tel: (92-91) 9213471-5

Muslim Town BranchB-IV, 628-629 Chirah road ,Muslim Town, Rawalpindi.Tel: (92-51) 4476013

Peshawar Road Branch61-A, Chour Chowk, Rawalpindi.Tel: (92-51) 5469543-4

SwatMingora BranchMakanbagh Chowk, Mingora Swat.Tel: (92-946) 714316-18

BRANCH NETWORK

38

University Road BranchKhattak Plaza, University Road, Peshawar.Tel: (92-91) 5703400-02

RawalpindiBahria Town BranchBahria Heights, Bahria Town, Phase-1Rawalpindi.Tel: (92-51) 5730171-3

Bank Road BranchNo. 47/62, Bank Road Saddar, Rawalpindi.Tel: (92-51) 9273404-6

Bohar Bazar BranchD-327, Hakim Muhammad Amjal KhanRoad, Bohar Bazar, Rawalpindi.Tel: (92-51) 5778875, 5778834

Chaklala Scheme III BranchPlot # 38, Bazar Area, Chaklala HousingScheme No.III, Rawalpindi Cantt.Tel: (92-51) 5766435-8

Chandni Chowk BranchUmer Farooq Plaza, Block C, Satellite Town,Chandni Chowk, Murree Road, Rawalpindi.Tel: (92-51) 4851046-49

G.T Road Tarnol Sub - branchKhan Malook, Wazir Plaza, G.T. Road,Turnol, Rawalpindi.Tel: (92-51) 2226406

Jinnah Road Sub - branchProperty No. 167, Commercial Area,Mohan Pura, Jinnah Road - City SaddarRoad, Rawalpindi City.Tel: (92-51) 5778511-12

Documents

CONTENTS...SBP through its BSD Circular No. 10 dated August 26, 2002 has deferred the implementation of International Accounting Standard (IAS) 39 - "Financial Instruments: Recognition