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MCB Bank Investor Friendly - by xpertwriter
The MCB Bank Limited continued to perform well as the bank's profit after tax increased by 10.33 percent to Rs 4.112 billion translating into an earning per share of Rs 6.55 in the quarter ended March 31, 2008 as compared to Rs 3.727 billion earned in the corresponding period in 2007.
A meeting of the Board of Directors of MCB Bank Limited was held on Friday under the chairmanship of Mian Muhammad Mansha to review the financial statements of the bank for the first quarter and approved the results. The board declared interim cash dividend at Rs 3.00 per share ie 30 percent for the period.
The bank showed a healthy growth of 10.13 percent in profit before tax, which came to Rs 5.758 billion in this quarter as compared to Rs 5.228 billion for the same period last year.
According to financial results, the bank's total income reached Rs 10.104 billion in the three months period in 2008 as compared to Rs 8.921 billion in the same period in 2007 as the mark-up/return/interest earnings increased to Rs 8.188 billion in this quarter against Rs 7.615 billion in the same quarter a year ago, while the fee, commission and brokerage income of the bank surged to Rs 1.916 billion in this period against Rs 1.305 billion previously.
On the other hand, the bank's mark-up/return/interest expenses increased to Rs 1.992 billion in this quarter against Rs 1.568 billion in the same quarter last year while the bank's operating expenditure stood at Rs 1.738 billion in this period against Rs 1.931 billion in the same period last year