MCB Islamic Bank Ltd.’s Post

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

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

MCB Bank Limited has announced its financial results for the nine-month period ending September 30, 2024, demonstrating strong #performance across all key financial indicators. The Bank’s Board of Directors, chaired by Mian Mohammad Mansha, approved the interim financial statements during a meeting held on October 23, 2024. The Board also declared a third interim cash dividend of Rs. 9.00 per share (90 percent), bringing the total cash dividend for the period to Rs. 27.00 per share (270 percent). #MCB continues to exhibit robust growth, crossing the Rs. 2 trillion mark in total #deposits, registering a 14 percent increase compared to December 2023. The Bank posted its highest-ever profit before tax (PBT) of Rs. 95.1 billion for the nine-month period, an 8 percent year-on-year increase. Profit after tax (PAT) rose to Rs. 48.5 billion, reflecting a 10 percent growth over the same period last year, resulting in earnings per share (EPS) of Rs. 40.88. On a consolidated basis, the Bank’s PBT was Rs. 104 billion. Read more: https://lnkd.in/dXR-hENC MCB Bank Limited, MCB Islamic Bank Ltd., State Bank of Pakistan (SBP), Arif Habib Limited, Pakistan Banks' Association, Shoaib Mumtaz #FintechNewsPakistan #MCBBank #MCB #SBP #Profit #Growth #PBT #PAT #EPS #BankDeposit #Banking #BankinginPakistan #Tech #digitalBanking #BankingInnovation #Fintech #PakistanFintechNews

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

In today’s banking landscape, some financial milestones are less a cause for celebration and more a reason for concern. The record profits achieved by banks in Pakistan reflect a strategy that has piled on low-risk loans to the public sector, prioritizing immediate stability and returns over meaningful contributions to economic growth. By leaning heavily on non-risky lending rather than supporting private sector innovation and entrepreneurship, banks have limited the potential for long-term, sustainable economic development. This approach may safeguard their bottom lines, but it inadvertently weakens the broader economic ecosystem, stifling opportunities for new businesses and ultimately impacting everyone. It’s time for a shift towards a more active and impactful banking approach—one that’s willing to take calculated risks to empower private sector growth and drive the kind of inclusive economic progress Pakistan needs. #BankingIndustry #EconomicGrowth #FinancialInclusion #Pakistan #SustainableDevelopment

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

Faysal Bank Limited (FBL), one of the leading Islamic banks in Pakistan, continued with its growth stride during the first quarter of 2024, whereby the profit after tax doubled to PKR 6.5 billion as compared to Q1 2023. Earnings per share increased from PKR 2.12 to PKR 4.29, while the Bank also declared an interim cash dividend of Re. 1/- per share, i.e. 10%. The total assets reached a new high of PKR 1.5 trillion, with deposits increasing to PKR 1.050 trillion and loan book in excess of PKR 603 billion. Advance-to-Deposit Ratio (ADR) was at a healthy 55%, while its Capital Adequacy Ratio stood at 18.57%, well above the regulatory requirement. The sound financial performance and the strong balance sheet footing is reflective of the Bank’s solid business fundamentals coupled with prudent risk management practices. It further solidifies the bank’s position as a key player within the Islamic banking segment. Mian Muhammad Younis, Chairman of Faysal Bank commenting on the performance of the Bank said, "Masha’Allah the results for Q1'24 are a clear indication of the strong foundations that we have laid as a leading Islamic bank and continued commitment of the Board and management.” He further thanked the Bank’s customers for making Faysal Bank their top preference." Yousaf Hussain, President & CEO of Faysal Bank said "Alhamdolillah, our good performance in the first quarter of 2024 is a testament to the sound interplay of the Bank’s customer-centric approach coupled with excellent Shariah-compliant financial and digital products and high-quality service. Because of such solid fundamentals, the Bank is all set to continue with its accelerated growth plans including network expansion." #lougheeloug | #BarhoYaqeenKaySath

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

MCB Bank has announced strong financial results for the nine-month period ending September 30, 2024. Standalone profit before tax reached a record PKR 95.1 billion, reflecting an 8% increase year-on-year, while profit after tax rose by 10% to PKR 48.5 billion. The Board has also declared a third interim cash dividend of PKR 9.00 per share, bringing the total cash dividend for the period to PKR 27.00 per share. With total deposits crossing the PKR 2 trillion mark, a 14% increase over December 2023, MCB Bank continues to demonstrate robust growth. Key contributors include an 8% increase in net interest income and a 19% surge in non-markup income. The Bank’s focus on digital transformation and customer-centric innovations has played a pivotal role in this success. MCB Bank remains committed to enhancing operational efficiency and maintaining financial discipline, with a cost-to-income ratio of 30.93%. MCB operates the second-largest branch network (consolidated basis) in Pakistan, with over 1,650 branches, and remains one of the most capitalized and traded stocks in the local equity market. For more details, please visit: https://bit.ly/3UpvnGp  #Bank4Life #Q32024 #Financials