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MCB Bank declares cash dividend of Rs 4

08 August, 2012

KARACHI: The Board of Directors of MCB Bank Ltd has declared second interim cash dividend of Rs 4.0 in addition to first interim cash dividend of Rs 3.0 already paid.

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KARACHI: The Board of Directors of MCB Bank Ltd has declared second interim cash dividend of Rs 4.0 in addition to first interim cash dividend of Rs 3.0 already paid.

The statement mentioned the Bank posted outstanding results in the first half with 7 percent increase in both profit before tax of Rs 17.2 billion and profit after tax of Rs 11.3 billion while non-markup income increased by 25 percent to Rs 5.2 billion and net markup income of the Bank was reported at Rs 20.9 billion.

Earnings per share (EPS) for the period came to Rs 12.31 compared to Rs 11.49 for June 30, 2011. Return on assets increased to 3.38 percent, return on equity was recorded at 27.68 percent and book value per share improved to 92.16.

Net investments increased by Rs 11 billion to Rs 327.5 billion. Gross advances also increased by Rs 15.6 billion to Rs 263.7 billion while the infection ratio improved to 10 percent (Dec 2011: 10.75%).

Deposits increased by 8 percent to Rs 529.4 billion, with 13 percent increase in current accounts, 9 percent increase in savings accounts and 4 percent decrease in term deposits. This improved the CASA ratio to 83 percent compared to 81 percent as of December 31, 2011.

Financial position of the Bank strengthened with Rs 32.9 billion rise in assets base over December 2011 and was reported at Rs 686.1 billion as of June 30, 2012.

End.


 
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