MCB Bank declares Rs10.67 billion net profit for first half

KARACHI: MCB Bank has declared Rs10.67 billion net profit for first half (January – June) 2019 as compared with the profit of Rs9.76 billion in the same half of the last year.

According to financial results for the period January – June 2019 shared with Pakistan Stock Exchange (PSX) on Wednesday, the bank declared 11 percent growth in net profit for the first half of the current fiscal as compared with the corresponding half of the last year.

The bank announced earnings per share at Rs9.01 as compared with Rs8.24.

The profit before tax of the bank also grew to Rs18.24 billion during the period under review as compared with Rs15.99 billion in the same period of the last year.

Total income of the bank for the period was stood at Rs35.75 billion for the first half ended June 30, 2019. Net mark-up income / interest income of the bank was recorded at Rs27.8 billion. Non-mark-up income of the bank was recorded at Rs7.9 billion.

The expenses of the bank were recorded at Rs16.75 billion as compared with Rs17.51 billion. The provision for write-offs was at Rs759 million.

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