LAHORE
\nThe Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, to review the performance of the Bank and approve the financial statements for the three months period ended March 31, 2017.
\nThe Bank posted profit before tax of Rs9.47 Billion and profit after tax of Rs. 6.15 Billion. In comparison with the corresponding period last year, profit before tax has increased by 4.39% which is mainly contributed by 75% increase in Non-markup income. Net markup income of the Bank was reported at Rs9.74 billion, down by 14.04% over corresponding period last year. On the gross markup income side, the Bank reported a decrease of Rs294 million whereas interest expense registered an increase of Rs1.296 billion over corresponding period last year, mainly on account of increase in repurchase agreement borrowings.
\nOn the non-markup income front, the Bank reported a base of Rs5.18 billion with exceptional growth of 75% over corresponding period last year. Major contributions of non-markup income are fees & commissions, capital gains and dividend income.
\nThe administrative expense base (excluding pension fund reversal) recorded an increase of 11% over corresponding period last year. The Bank continued with its recovery trajectory and posted a reversal in provision of Rs880 million in first quarter of 2017. The total asset base of the Bank was reported at Rs 1,246.55 billion reflecting an increase of 18.51% over 2016. Analysis of the asset mix highlights that net investments have increased by Rs191.66 billion (+34.48%) with net advances increased by Rs5.53 billion (+1.59%) over December. The coverage and infection ratios of the Bank were reported at 89.46% and 5.68% respectively.
\nOn the liabilities side, the deposit base of the Bank recorded an increase of Rs37.52 billion (+4.80%) over December 2016. MCB Bank Limited continued to enjoy one of the highest CASA mixes in the banking industry of 94.33% with current deposits increasing by 7% and savings deposits by 4% over December 2016. Strategic focus on current accounts resulted in increase in concentration level to 39% of the total deposit base.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, to review the performance of the Bank and approve the financial statements for the three months period ended March 31, 2017. The Bank posted profit before tax of Rs9.47 Billion and profit after tax of Rs. 6.15 Billion. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-17008","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n