February 20, 2019 (MLN): The meeting of the Board of Directors of HBL and MCB is scheduled to take place today to announce the financial results for the year ended on December 2018. For this purpose several brokerage houses have put forward their forecasts for the banks’s net income at the end of the year.

Based on the estimates projected by brokerage houses, the market expects MCB to have suffered a 20.5% decline in profits as compared to last year and clock in at Rs 15 billion on average. This decline in earnings are attributable to lower non-interest incomes and increase in operating expenses during the year.

On the other hand, on average HBL is expected to post a substantial increase in net profits of about 53.5% and in absolute terms its profits are likely to lock in at Rs 8.215 billion mainly due to the lower base in last year as a result of hefty penalty of Rs 23.5 bln.

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