MCB REPORTS FIRST QUARTER EARNINGS OF PKR 3.8
BN, EPS OF PKR 6.07
NET INTEREST INCOME PKR 6.05 BN, UP 21.8% OVER 1Q’06
MCB Bank’s 1Q07 Results > A promising start to another challenging
year….
Lahore, 27th April, 2007: MCB Bank’s Board of Directors reviewed
the Bank’s first quarter results this morning in Lahore, Pakistan,
declaring a cash dividend of PKR 2.5 per share for 1Q’07 (PKR 2.0
per share for 1Q’06).
“The Bank is to evolve into an exciting new asset mix this year,
with robust growth expected from the consumer business, most of these
assets launched towards the end of 2006. Sustaining our advantage on the
liability side, with the lowest cost of funds amongst peers, and moving
into higher yielding assets, promises industry leading returns to continue
seamlessly into 2007. We continue to invest in expanding our distribution
and to strengthen our technology platform to support planned growth. ”
said Mr. Aftab Manzoor, CEO MCB Bank Ltd.
1Q07 RESULTS - HIGHLIGHTS
(Consolidated Accounts)
. Net Income Rs. 3,816M, an increase of 19.2% over 1Q’06 and 6.5%
over 4Q’06.
. Net Interest Income Rs. 6,053M for 1Q’07, an increase of 21.8%
over the same period last year and 5.6% over 4Q’06.
. The Net Interest Margin for the quarter is 8.4%, rising over 8.3% for
the year 2006.
. Cost to Income Ratio is 27.3% for the quarter compared to 30.57% for
the same period last year and 26.3% for the last quarter, 2006.
. Return on Shareholder’s Equity (period end) was 38.74%, compared
to 62.63% for the first quarter ’06, as equity more than doubled
over the period, growing by 58.7% from PKR 28.7Bn in 1Q’06 to PKR
45.6Bn in 1Q’07.
. Total Assets grew by 5.7% to Rs. 363Bn (US$ 5.9Bn) from Rs. 343Bn at
year-end 2006, net advances dipping by 5.8% to Rs.186Bn (US$3.1Bn) and
deposits growing by 9% over Dec’06 to Rs. 280Bn (US$ 4.6Bn).
. Shareholders Equity grew from Rs. 36.4Bn at year-end 2006 by 8.2% to
Rs. 39.4Bn (US$ 0.65Bn) from the year-end 2006.
. Total capital adequacy ratio is at 20.9% with Tier 1 at 18.2% compared
to 19.1% and 16.6% respectively at 2006 year-end.
. NPL ratio is 4.45% for the quarter, compared to 4.57% for 1Q’06.
. Basic earning per share for the quarter is Rs 6.07 (US$ 0.10 per share).
For 1st Qtr 2007 year results (Stand alone Accounts). Click
Here...
For 1st Qtr 2007 year results (Consolidated Accounts). Click
Here..
A copy of the interim report has been submitted to UK Listing Authority
and will shortly be available at the UK Listing Authority Document Viewing
Facility, at the following address:
Financial Services Authority
25 The North Colonnade
Canary Wharf
LONDON E14 5HS
Tel: +44 (0) 20 7676 1000
For further information, please contact:
E-mail: Investor.relations@mcb.com.pk
Investor Relations
MCB House
15-Main Jail Road
Gulberg
Lahore, Pakistan
For general enquiries please click
here
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