MCB Bank Ltd today released financial results for the year ending December, 2017. During the Board Meeting held in Lahore, the management approved a dividend of Rupees 4 per share.
Net markup earned during the period posted a 9.9% growth to clock in at Rs. 74.09 billion with net mark-up after provisions reaching at Rs. 41.733 billion down by 3.3%.
Fee, commission and brokerage income grew by more than 22.44% during the year, despite a 16.39% fall in other income.
Due to a marked reduction in taxes during the period, company’s bottom-line profits clocked in at Rs. 22.458 billion with EPS of Rs. 19.56 vs. an EPS of Rs. 19.67 during year ending December, 2016.
|
Unconsolidated Profit and Loss Account – For the Year Ended, December 30th 2017 |
|||
|---|---|---|---|
|
Key Financials |
2017 |
2016 |
% Change |
|
Amounts in PKR ‘000 |
|||
|
Net mark-up/return/interest earned |
74,090,972 |
67,400,294 |
9.93% |
|
Net mark-up/return/interest earned after provisions |
41,733,586 |
43,160,440 |
-3.31% |
|
Fee, commission and brokerage income |
9,353,983 |
7,639,750 |
22.44% |
|
Dividend Income |
1,941,452 |
1,456,326 |
33.31% |
|
Income from Foreign Currencies |
1,302,826 |
911,520 |
42.93% |
|
Capital gain on sale of investments – net |
4,746,658 |
5,677,010 |
-16.39% |
|
Other income |
620,854 |
488,479 |
27.10% |
|
Total non-mark-up/interest income |
17,960,121 |
16,174,707 |
11.04% |
|
Administrative Expenses |
27,353,543 |
22,073,702 |
23.92% |
|
Other provisions – net |
562,827 |
271,151 |
107.57% |
|
Other charges/reversals |
763,129 |
915,604 |
-16.65% |
|
Total non-mark-up/interest expenses |
28,679,499 |
23,260,457 |
23.30% |
|
Extra-ordinary/unusual items |
– |
– |
|
|
Profit before Taxation |
31,014,208 |
36,074,690 |
-14.03% |
|
Taxation |
8,555,307 |
14,183,794 |
-39.68% |
|
Profit after Taxation |
22,458,901 |
21,890,896 |
2.59% |
|
EPS – Basic and diluted |
19.56 |
19.67 |
-0.56% |
Company release on Earnings Report can be accessed here.
