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MCB Bank profit surges 82pc
KARACHI: The MCB Bank on Tuesday announced that its profit-after-tax (PAT) surged 82 per cent to Rs59.6 billion in 2023, translating into an earnings per share (EPS) of Rs50.32 compared to Rs27.63 in the preceding year.
The bank’s board of directors in its meeting under the chairmanship of Mian Mohammad Mansha reviewed the performance and approved the financial statements for the year ended Dec 31, 2023.
The bank earned a historic profit before tax (PBT) of Rs125.2 billion in 2023, registering an increase of 75pc over the preceding year.
The board declared a final cash dividend of Rs9 per share i.e. 90pc, in addition to 210pc already paid, bringing the total to 300pc in 2023.
“Aided by a strong volumetric growth in the current account and timely repositioning of the asset book, net interest income for 2023 increased by 69pc as compared to the last year,” the bank said in a press release.
POL declares Rs25 dividend: Pakistan Oilfields Ltd’s PAT rose 22.37pc to Rs17.5 billion for the half year ending December 2023 as compared to Rs14.3bn in the same period 2022, while net sales clocked in at Rs34bn from Rs39bn. The company declared an interim cash dividend of Rs25 per share for the above period.
Attock Refinery’s income up: The PAT of Attock Refinery Ltd (ARL) rose over 11pc to Rs16bn during July-December 2023 from Rs14.4bn in the same period of 2022, while net sales stood at Rs206bn vs Rs189bn. The refinery had announced an interim cash dividend of Rs2.50 per share for the above period.
APL earnings jump: By announcing an interim cash dividend of Rs10 per share, Attock Petroleum Ltd posted a 41.81pc increase in PAT to Rs7.8bn for the first half of FY24 versus Rs5.5bn in the same period of FY23, while it achieved net sales of Rs282bn as against Rs238bn.
NRL suffers losses: Revenues from contracts with customers of National Refinery Ltd soared to Rs197bn during July-December 2023 from Rs183bn in the same period 2022, but the company suffered a loss after taxation of Rs4.6bn as against Rs5.5bn in the same period last year.
Published in Dawn, February 7th, 2024
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