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MCB Bank Limited has declared a second interim cash dividend of Rs. 9.0 per share, bringing the total cash dividend for the first half of 2024 to 180%. The bank's performance for the first half of the year was robust, with a Profit Before Tax (PBT) of Rs. 62.7 billion, a 16% increase, and a Profit After Tax (PAT) of Rs. 31.9 billion, a 20% rise, translating to an #EPS of Rs. 26.95. Net interest income grew by 12% year-over-year, while non-markup income surged by 30%, driven by significant contributions from fee commission income, foreign exchange income, and dividend income. Despite a challenging inflationary environment, MCB Bank Limited managed to contain its operating expenses, which increased by 18% primarily due to higher staff, utility, and IT-related costs. The bank maintained strong asset quality with Non-performing Loans (NPLs) at Rs. 57.0 billion and achieved a 10.1% growth in total assets, reaching Rs. 2.67 trillion. The deposit base grew by 13%, totaling Rs. 1.99 trillion. MCB's capital adequacy and liquidity ratios remained robust, with a CAR of 20.68% and LCR of 261.91%, respectively. The Pakistan Credit Rating Agency reaffirmed MCB's credit ratings at "AAA / A1+", underscoring its strong financial position and market presence. MCB Bank Limited, Pakistan Stock Exchange - PSX, Pakistan Banks' Association, Shoaib Mumtaz, Naeem Saigol #FintechNewsPakistan #MCBBank #PSX #PBA #MCBGrowth #H1Profit #Banking #PAT #PBT #EPS #CAR #LCR #BankProfit #ProfitafterTax #BrofitbeforeTax #MCBProfit #BankingSector #PSXCompanies #EarningPerShare #DigtalBanking #BankinginPakistan #Finance #Fintech #FintechNews #Pakistan #PakistanFintechNews

Continuing it’s growth trajectory, MCB Islamic Bank’s profit before tax has soared to PKR 2.27 Billion for the first quarter of 2024, demonstrating 56% growth on year-on- year basis. This achievement reflects the bank's strategic approach focused on sustained growth, timely adherence to prudent financing practices, robust risk management and strict regulatory compliance. Deposits remained stable at PKR 203.87 Billion, compared to PKR 204.46 Billion as of December 31, 2023 indicating consistency. The bank's Current and Saving Account (CASA) mix stands at a robust 75%, and non-remunerative Deposits constitute 29% of the total deposit mix, highlighting customer trust and strategic focus. Total assets reached PKR 268.85 Billion while Net Financing closed at PKR 107.68 Billion and investments reached PKR 115.20 Billion which depicts the bank’s unwavering focus on efficient capital management, improved asset quality and a high-yield portfolio. The bank achieved an operating income of PKR 4.46 Billion, 41% higher than corresponding period last year, achieving return on earning assets at 18.64%. The improvement in the Bank’s profitability also increased the earnings per share after tax to PKR 0.74 as opposed to PKR 0.54 for the comparative period. MCB Islamic Bank's performance mirrors its steadfast dedication to growth. Despite encountering challenges within the economic and operational landscape, the bank has navigated its path with a focus on sustained growth. Furthermore, it remains committed to consistently delivering substantial value to its stakeholders. We extend our gratitude to our valued customers for their continuous support and trust, which has allowed us the privilege to fulfill their financial obligations. #MCBIslamicBank #MCB #IslamicBanking #BaBarkatBankariHamariZimadari #FirstQuarter2024

Continuing it’s growth trajectory, MCB Islamic Bank's profit before tax has soared to PKR 2.27 Billion for the first quarter of 2024, demonstrating 56% growth on year-on- year basis. This achievement reflects the bank's strategic approach focused on sustained growth, timely adherence to prudent financing practices, robust risk management and strict regulatory compliance. Deposits remained stable at PKR 203.87 billion, compared to PKR 204.46 billion as of December 31, 2023 indicating consistency. The bank's Current and Saving Account (CASA) mix stands at a robust 75%, and non-remunerative Deposits constitute 29% of the total deposit mix, highlighting customer trust and strategic focus. Total assets reached PKR 268.85 billion while Net Financing closed at PKR 107.68 billion and investments reached PKR 115.20 billion which depicts the bank’s unwavering focus on efficient capital management, improved asset quality and a high-yield portfolio. The bank achieved an operating income of PKR 4.46 billion, 41% higher than corresponding period last year, achieving return on earning assets at 18.64%. The improvement in the Bank’s profitability also increased the earnings per share after tax to PKR 0.74 as opposed to PKR 0.54 for the comparative period. MCB Islamic Bank's performance mirrors its steadfast dedication to growth. Despite encountering challenges within the economic and operational landscape, the bank has navigated its path with a focus on sustained growth. Furthermore, it remains committed to consistently delivering substantial value to its stakeholders. We extend our gratitude to our valued customers for their continuous support and trust, which has allowed us the privilege to fulfill their financial obligations. #Mcbbank #Pakistan #Profit

Continuing it’s growth trajectory, MCB Islamic Bank's profit before tax has soared to PKR 2.27 Billion for the first quarter of 2024, demonstrating 56% growth on year-on- year basis. This achievement reflects the bank's strategic approach focused on sustained growth, timely adherence to prudent financing practices, robust risk management and strict regulatory compliance. Deposits remained stable at PKR 203.87 billion, compared to PKR 204.46 billion as of December 31, 2023 indicating consistency. The bank's Current and Saving Account (CASA) mix stands at a robust 75%, and non-remunerative Deposits constitute 29% of the total deposit mix, highlighting customer trust and strategic focus. Total assets reached PKR 268.85 billion while Net Financing closed at PKR 107.68 billion and investments reached PKR 115.20 billion which depicts the bank’s unwavering focus on efficient capital management, improved asset quality and a high-yield portfolio. The bank achieved an operating income of PKR 4.46 billion, 41% higher than corresponding period last year, achieving return on earning assets at 18.64%. The improvement in the Bank’s profitability also increased the earnings per share after tax to PKR 0.74 as opposed to PKR 0.54 for the comparative period. MCB Islamic Bank's performance mirrors its steadfast dedication to growth. Despite encountering challenges within the economic and operational landscape, the bank has navigated its path with a focus on sustained growth. Furthermore, it remains committed to consistently delivering substantial value to its stakeholders. We extend our gratitude to our valued customers for their continuous support and trust, which has allowed us the privilege to fulfill their financial obligations. #Mcbbank #Pakistan #Profit

Continuing it’s growth trajectory, MCB Islamic Bank Ltd. profit before tax has soared to PKR 2.27 Billion for the first quarter of 2024, demonstrating 56% growth on year-on- year basis. This achievement reflects the bank's strategic approach focused on sustained growth, timely adherence to prudent financing practices, robust risk management and strict regulatory compliance. Deposits remained stable at PKR 203.87 billion, compared to PKR 204.46 billion as of December 31, 2023 indicating consistency. The bank's Current and Saving Account (CASA) mix stands at a robust 75%, and non-remunerative Deposits constitute 29% of the total deposit mix, highlighting customer trust and strategic focus. Total assets reached PKR 268.85 billion while Net Financing closed at PKR 107.68 billion and investments reached PKR 115.20 billion which depicts the bank’s unwavering focus on efficient capital management, improved asset quality and a high-yield portfolio. The bank achieved an operating income of PKR 4.46 billion, 41% higher than corresponding period last year, achieving return on earning assets at 18.64%. The improvement in the Bank’s profitability also increased the earnings per share after tax to PKR 0.74 as opposed to PKR 0.54 for the comparative period. MCB Islamic Bank's performance mirrors its steadfast dedication to growth. Despite encountering challenges within the economic and operational landscape, the bank has navigated its path with a focus on sustained growth. Furthermore, it remains committed to consistently delivering substantial value to its stakeholders. We extend our gratitude to our valued customers for their continuous support and trust, which has allowed us the privilege to fulfill their financial obligations. #Mcbbank #Pakistan #Profit

UBL, one of Pakistan’s largest commercial banks, reported consolidated earnings of Rs15.27 billion for the quarter ending June 30, 2024, marking a 17% increase from Rs13.05 billion in the same period last year. 📈 Earnings per share rose to Rs12.10 in 2QCY24, up from Rs10.39 in 2QCY23. The bank’s Board of Directors announced an interim cash dividend of Rs11 per share, totaling 110%, for the half year ending June 30, 2024, in addition to the previously paid interim dividend of Rs11 per share. 💸 The impressive profit #growth is driven by higher net interest income and provisioning reversals. UBL's mark-up/return earned surged nearly 173% from Rs103.25 billion to Rs281.5 billion in the quarter. However, net mark-up/return earned saw a decline of 22% to Rs29.17 billion, attributed to a significant increase in interest expenses. #UBL also recorded a 13% rise in fee and commission income, reaching Rs5.6 billion, and a 44% increase in foreign exchange income, which climbed to Rs3.8 billion. UBL's gains on securities amounted to Rs5.36 billion, a notable recovery from a loss of Rs857.7 million in the same period last year. Despite a 17% increase in operating expenses to Rs19.75 billion, UBL’s profit-before-tax rose by 8% to Rs29.05 billion, demonstrating the bank's strong financial performance in a challenging economic environment. #UBL #FinancialPerformance #BankingSector #EarningsReport #Dividend #PakistanEconomy #Mawazna #finance #banking #islamicbanking

MCB Bank Limited declares impressive First Quarter results. In a recent board meeting chaired by Mian Mohammad Mansha, MCB Bank Limited (MCB) reviewed its performance for the first quarter ending March 31, 2024, and approved condensed interim financial statements. The board declared a first interim cash dividend of Rs. 9.0 per share, reflecting a robust 90% payout for the quarter. MCB's Profit Before Tax (PBT) for the first quarter surged to Rs. 32.5 billion, marking a notable 41% growth, attributed to focused efforts in maintaining a no-cost deposit base and optimizing earning assets. Profit After Tax (PAT) saw a substantial increase of 27%, reaching Rs. 16.6 billion, translating to an impressive Earnings Per Share (EPS) of Rs. 13.97 compared to Rs. 11.02 reported in the same period last year. #lougheeloug | Shoaib Mumtaz Usman Gulraiz Naeem Saigol Kashif Ali Muhammad Bilal Rao Omair Safdar, CFA Hassan Kausar Khan RAZIA MUNEER Ijaz Shaukat Hammad Khalid Kashif Malik Imran Sagheer Muhammad Ashraf Malik Rehan Ahmed Hashmi Azfar Nomani M. Jabeen Ziya Sheikh Khawaja Irfan Ahmed Humaid Merchant Mirza Ali Raza Hamza Shamim Ambreen Bawany Amer Yusuf Muhammad Haris Hasan Zahoor Ahmad Shakeel Minhas Waris Ali Abrar Aleem Laraib Riaz Muhammad Asif Makani Asif Chandio Ali Asad, Syed Adnan Khan Adnan Ali Khan

The State Bank of Pakistan (SBP) has developed broad guiding parameters to help banks to devise their conversion plan from conventional to Islamic. According to a circular issued on Friday, in pursuance of SBP Vision 2028 and to facilitate banks in their conversion from conventional to Islamic, SBP has developed broad guiding parameters which will help banks to devise their own conversion plans. Accordingly, banks may consider broad parameters, developed by SBP to prepare their conversion plans. These broad parameters included vision and strategy, governance structure and business conversion milestones and timelines (internal milestones for conversion of assets, deposits, financing, investments, syndicated transactions and non-funded portfolio and branches, etc.) Read More: https://lnkd.in/dxe-_6C6 #brecordernews

MCB Islamic Bank Ltd. Bank's board has approved interim financial statements, declaring a third interim cash dividend of Rs 9 per share, totaling Rs 27 per share for the first nine months. The bank surpassed Rs2 trillion in total deposits, reflecting a 14% increase since December 2023. For the nine-month period ending September 30, 2024, MCB reported a profit before tax of Rs 95.1 billion and a profit after tax of Rs48.5 billion, resulting in earnings per share of Rs 40.88. Notable growth in net interest income (up 8%) and non-markup income (up 19%) contributed to this success. Despite a 17% increase in expenses, the bank maintained a cost-to-income ratio of 30.93%. With total assets of Rs 2.8 trillion, MCB's robust deposit mobilization efforts have led to significant growth in current deposits and an improved CASA ratio of 97.17%. The bank also attracted $3,195 million in home remittance inflows, capturing a 12.5% market share, and improved its Capital Adequacy Ratio to 21.85%. #MCBBank #FinancialResults #DepositsMilestone #InterimDividend #ProfitGrowth #BankingSector #PakistanEconomy #CASA #HomeRemittances #Investment

MCB Bank Ltd had a strong financial performance in Q1 2024 📈: Total deposits grew by 13% YoY to reach PKR 781.5bn 💰. The investment portfolio is valued at PKR 291.9bn, with significant additions to floating and fixed-rate Pakistan Investment Bonds (PIBs) 🏦. Reported advances of PKR 569bn with an average yield of 18.4% 📊. Net Interest Income (NII) rose 19%, which indicates strong low-cost deposit penetration and efficient asset management 🚀. Aim to increase the current and savings accounts (CASA) mix to 90% 🎯. Unconsolidated EPS of PKR 13.97 for 1QCY24, up 27% from last year 💹. An interim cash dividend of PKR 9.00 per share was declared, reflecting the bank’s strong profitability 🏆. Non-interest income grew by 54% YoY to PKR 9.1 billion, driven by fee & commission, foreign exchange, and dividend income 💸. MCB improved its cost-income ratio to 31% by keeping operating expenses in check ✂️. MCB Bank Ltd. is a strong and profitable bank with a positive macroeconomic outlook and high dividends 💪🏽🏦. #Hashtags #MCBBank #FinancialGrowth #InvestmentPortfolio #BankingSuccess #Profitability #EconomicOutlook #Dividends #EPS #FinancialPerformance #BankingSector #iel #integratedequities #psx #capitalmarkets #mcb https:\\iel.net.pk