MCB Bank Limited (MCB) today announced financial results for the quarter ending 31 March, 2018 reporting Markup Earned worth Rs. 18.214 billion. Furthermore, the company’s net mark-up after provisions during the outgoing three months rose by 10.49 percent to reach 11.727 billion.
Among other heads, Fee Commission and Brokerage Income went up by 19.39 percent during the period, Dividend Income went down by 53.77 percent and Income from foreign currencies jumping by 48.65 percent during the reported period.
On the expenses front, total non-mark-up expenses during the quarter rose by 5.82 percent to clock in at 6.694 billion.
MCB Bank Limited reported profit after taxation at Rs. 4.777 billion down by 22.28 percent from 6.146 billion last year translating into an EPS of Rs. 4.03 vs. an EPS of Rs 5.52 during the three months ending March, 2017.
MCB Bank approved an interim cash dividend of Rs. 4 per share i.e. 40 percent.
Unconsolidated Profit and Loss Account – For the Three Months Ended, March 30th 2018 | |||
|---|---|---|---|
Key Financials | March, 2018 | March, 2017 | % Change |
Amounts in PKR ‘000 | |||
Mark-up/return/interest earned | 18,214,047 | 17,273,967 | 5.44% |
Net mark-up/return/interest earned after provisions | 11,727,704 | 10,614,709 | 10.49% |
Fee, commission and brokerage income | 2,621,360 | 2,195,691 | 19.39% |
Dividend Income | 163,811 | 354,333 | -53.77% |
Income from Foreign Currencies | 420,924 | 283,167 | 48.65% |
Capital gain on sale of securities – net | 784,377 | 2,277,242 | -65.56% |
Other income | 312,052 | 107,557 | 190.13% |
Total non-mark-up/interest income | 4,298,185 | 5,184,113 | -17.09% |
Administrative Expenses | 7,209,562 | 6,098,770 | 18.21% |
Other provisions – net | 708,570 | 12,142 | 5735.69% |
Other charges/reversals | 193,283 | 215,066 | -10.13% |
Total non-mark-up/interest expenses | 6,694,275 | 6,325,978 | 5.82% |
Profit before Extraordinary Items | 9,331,275 | 9,472,844 | -1.49% |
Extraordinary/Unusual Item (Pension Cost) | 2,025,258 | – |
|
Profit before Taxation | 7,306,356 | 9,472,844 | -22.87% |
Taxation | 2,529,216 | 3,326,188 | -23.96% |
Profit after Taxation | 4,777,140 | 6,146,656 | -22.28% |
EPS – Basic and diluted | 4.03 | 5.52 | -26.99% |
Company release on Earnings Report can be accessed here.
