KARACHI, Aug 11: The MCB (Muslim Commercial Bank) earned a pre-tax profit of Rs4.2 billion during January-June 2005, up 91 per cent from pre-tax profit of Rs2.2 billion it had earned in January-June 2004.
According to a press release, this translates into an earning per share of Rs7.43.
After-tax profit for the half year ended on June 30, 2005 stood at Rs3 billion -— the highest ever in MCB’s history -— up from Rs1.289 billion in a year-ago period.
The bank’s equity increased by 41 per cent during the first half of this calendar year, which was due to the issue of right shares and retained earnings.
The advances and deposits of the bank rose to Rs156 billion and Rs241 billion respectively reflecting a growth of 14pc and 10pc, says the press release.
UBL PROFIT: United Bank Limited (UBL) earned a pre-tax profit of Rs3.6 billion for the half year ended on June 30, 2005, showing an 80 per cent growth over the profit before tax of Rs2 billion in a year-ago period.
According to the financial statement of the bank, approved by its board of directors at a recent meeting, the deposits of the bank grew by 17 per cent during January-June 2005 to Rs269 billion.
Quoting figures from the statement a press release says that the bank achieved an 18 per cent growth in advances which rose to Rs170 billion in the half year ended on June 30.
HBL VISA CARD: Habib Bank Limited on Thursday launched value visa debit card, which give the card holders instant access to balances in their bank accounts when the card is used for purchases.
These cards can be used for paying shopping bills at not only thousands of outlets in Pakistan but also at 20 million plus outlets worldwide, says a press release. The holders of these cards can use them also at 864,000 ATMs across the globe.
Habib Bank account holders can apply for these cards and they do not need to qualify for credit eligibility. With debit cards, card holders can spend within the limits of what is in their bank accounts.
