MCB Bank enjoys profits on the back of Net Interest Income in CY19

News Image

By MG News | February 04, 2020 at 02:50 PM GMT+05:00

0:00

February 4, 2020 (MLN): MCB Bank has announced its financial results for the year ended on December 31, 2019, as per which it has reported net earnings of Rs 23.94 billion (EPS: Rs 20.14), i.e. 17.3% higher than the same period of last year.

The profitability of bank increased primarily due to higher net interest income, up by 32.7% YoY, as a result of strong balance sheet growth and improved asset pricing.  

While the non-interest income declined by 3% YoY due to the absence of capital gains and weaker FX income.

The operating expenses of the bank surged by 5.5% YoY during the said period. The share of profit of associates slumped by around 24% YoY to stand at RS 339 million.  

The Board of Directors of the Bank announced a final Cash Dividend for the year ended December 31, 2019, at Rs. 5 per share i.e. 50%. This is in addition to dividends already paid at Rs. 12 per share i.e. 120%.

 

Profit and Loss Account for the year ended December 31, 2019 (Rupees '000)

 

2019

2018

% Change

Mark-up/return/interest earned

 148,088,700

 87,502,337

69.2%

Mark-up/return/interest expensed

 84,370,609

 39,495,913

113.6%

Net mark-up/interest income

 63,718,091

 48,006,424

32.7%

Non mark-up/interest income

 

 

 

Fee and commission  income

 12,230,871

 11,636,751

5.1%

Dividend income

 1,240,771

 1,156,944

7.2%

Foreign exchange income

 2,957,999

 3,568,576

-17.1%

Income from derivatives

 14,616

 11,845

23.4%

Gain on securities

 828,873

 1,257,148

-34.1%

Other income

 244,551

 434,351

-43.7%

Total non-mark-up /interest income

 17,517,681

 18,065,615

-3.0%

Total income

 81,235,772

 66,072,039

23.0%

Non mark-up/interest expenses

 

 

 

Operating expenses

 37,685,431

 35,715,447

5.5%

Workers welfare fund

 802,046

 644,304

24.5%

Other charges

 260,743

 174,431

49.5%

Total non-mark-up/interest expenses

 38,748,220

 36,534,182

6.1%

Share of profit of associates

 339,633

 446,257

-23.9%

Profit before provisions

 42,827,185

 29,984,114

42.8%

Provisions/(reversals) and write offs-net

 2,673,592

 (821,807)

 

Profit before taxation

 40,153,593

 30,805,921

30.3%

Taxation

 16,206,382

 10,390,637

56.0%

Profit after taxation

 23,947,211

 20,415,284

17.3%

Basic and diluted earnings per share

 20.14

 17.17

17.3%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg