KARACHI: The MCB Bank posted the highest-ever quarterly profit before tax of Rs9.7 billion as compared to Rs9.4bn reported in the preceding quarter.

The growth in profit is 7 per cent, which was contributed by 12pc increase in net markup income.

The interest expense registered an increase of Rs4.7bn over corresponding period last year.

On the non-mark-up income front, the bank registered significant contributions from fee income, dividend income, income from dealing in foreign currencies and other income.

The administrative expense base (excluding pension fund reversal) recorded an increase of approximately 11pc which consummates with increased operational and infrastructural outreach.

Earnings per share (EPS) for the period came to Rs16.28 as compared to Rs15.44 for 2013. MCB reported return on assets of 2.87pc, whereas return on equity was reported at 23.93pc.

The board of directors declared third interim cash dividend of Rs3.5 per share for the period ended Sept 30 which is in addition to Rs6.5 per share interim dividends already paid to shareholders.

Published in Dawn, October 22nd, 2014