KARACHI, Aug 9: Muslim Commercial Bank earned a pre-tax profit of Rs1.510 billion in six months ending on June 30, 2002, up from Rs938 million a year ago.

An MCB press release said the bank recorded 86.6 per cent rise in its after-tax profit as well, without giving the numbers. But a research report of First Capital Research said the after-tax profit of the bank rose to Rs837.6 million in six months to June 30, 2002 from Rs448.9 million.

The MCB press release said the bank also recorded a Rs15 billion increase in its deposits that soared to Rs169.5 billion on June 30, 2002, up from Rs154.5 billion on December 31, 2001.

These figures were approved as part of the half yearly account of the bank by its board of directors that met in Lahore on Friday with Mian Muhammad Mansha in the chair.

The board did not announce any dividend for the shareholders. But the press release recalled that in April this year the bank had already announced 10 per cent interim bonus shares.