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Tuesday, November 26, 2024

Home Business MCB announces Rs16.2b earnings

MCB announces Rs16.2b earnings

by admin
October 20, 2019
in Business

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Staff Reporter

Karachi

MCB announced earnings for 9MCY19 slightly below expectations, at Rs. 16.2bn (EPS: Rs. 13.63), depicting a YoY uptick of 19% and 5% QoQ (3QCY19 EPS: Rs. 4.84). Impressive growth in the bank’s NII and control on OPEX lent support to earnings while hefty provisioning expenses applied some pressure.
The bank also announced a dividend of Rs. 4.00/share for 3QCY19 taking total dividend to PKR 12.00/share for 9MCY19. Net Interest Income of the bank settled at PKR 46bn, depicting an impressive 31% YoY jump while on a sequential basis the bank’s NII recorded an 8% jump QoQ.