| FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER’06
MCB Bank’s Board of Directors reviewed the bank’s performance
during 2006 in a meeting held on 23rd February 2007 in Lahore, Pakistan
and approved the Bank’s financial results for the year ended 31st
December 2006.
The bank has declared bonus shares of 15% and cash dividend of 15%. This
is in addition to 60% interim cash dividends announced during the year.
HIGHLIGHTS FOR THE FULL YEAR
(Consolidated Accounts)
. Net Income was Rs. 12,541M (US$ 206M) for the year ended 31 December’06,
an increase of 36.1% over 2005.
. Net Interest Income was Rs. 21276M(US$ 349M)for the year ended 31 December’06,
a healthy increase of 42% over the same period last year, with the pre
provision operating profit at Rs.20, 113M( US$ 330M), a 39% increase over
last year.
. The Net Interest Margin for the year came to 8.32% compared to 6.52%
for the year 2005.
. Cost to Income Ratio dipped to 26.29% in 2006 compared to 33.56% for
the year 2005, decreasing further from 30.8% for 9 months ended 31 September’06.
. Return on Average Shareholder’s Equity was 47.65% for the year
ended 31 December’06, compared to 64.34% for the year 2005.
. Total Assets grew by 14% to Rs. 343Bn (US$ 5.6Bn) from Rs. 299Bn (US$
4.91Bn) last year, Loans growing by 10% to Rs.198Bn (US$ 3.3Bn) and deposits
by 12% to Rs. 257Bn (US$ 4.2Bn).
. Equity grew from Rs. 18.7Bn (US$ 0.31Bn) by 95% to Rs. 36.4Bn (US$
0.60Bn) for the year ended 31 December’06.
. Total capital adequacy ratio rose to 19.13% with Tier 1 at 16.58% compared
to 12.79% and 9.53% at 2005 year end.
. Asset quality improved with the NPL ratio falling to 4.14% from 4.46%
in 2005. The NPL coverage ratio improved from 93.10% in 2005 to 100.4%
for the year ended 31 December, 2006
. Basic earning per share was 24.17 Rs (US$ 0.40 per share) and dividend
payout for the year was 31.24% compared to 18% in 2005.
MCB continues to be an industry leader and is also the first bank in Pakistan
to tap international investor markets. We are now poised for growth both
on the domestic and international fronts.
For 2006 full year results. Click Here...
For further information, please contact
E-mail: Investor.relations@mcb.com.pk
Investor Relations
MCB House
15-Main Jail Road
Gulberg
Lahore, Pakistan |
