Meezan Bank is Pakistan's largest Islamic bank with over 760 branches across 223 cities. The document provides a financial analysis of Meezan Bank, including its competitive advantages over rivals like annual revenue and deposit utilization. It also examines Meezan Bank's growth prospects in Pakistan's banking market, given the country's large unbanked population and Meezan's leadership in Islamic banking. The analysis includes pro-forma projections of Meezan Bank's balance sheet and income statement over the next 5 years, though it notes Covid-19 may decrease profits. Based on the valuation and Meezan Bank's current undervaluation, the preliminary investment decision is to buy the stock.