KARACHI, Oct 26: MCB Bank has posted an after-tax profit of Rs11.247 billion, which pushed the earning per share (EPS) of the bank to Rs17.9 during the first nine months of the calendar year 2007.
The board of directors of the MCB Bank on Saturday reviewed the bank’s performance during the nine months and approved the financial results.
The bank showed a growth of 25.97 per cent and 30.13 per cent in pre-tax and after-tax profits, respectively, which closed at Rs16.381 billion and Rs11.247 billion. During the same period last year the bank had earned a pre-tax profit Rs13.004 billion and after-tax profit of Rs8.643 billion.
This translates into EPS of Rs17.90 as compared to Rs14.56 during the corresponding period of last year.
The bank’s total assets grew by Rs40.5 billion or 12 per cent over the figure of Rs324 billion as on December, 2006. The major increase was witnessed in investment portfolio, which increased by Rs59.832 billion from December 2006 and stood at Rs123.318 billion.
Gross loans and advances marginally declined from December 2006 and remained at Rs200 billion due to slowdown in credit to private sector. Deposits grew by Rs30.459 billion or 12 per cent and stood at Rs287 billion compared to Rs257 billion in December 2006. Bank’s loan-to-deposit ratio remained at 69.5 per cent.
