MCB Bank’s profit down 20.9%
The stock price of MCB gained 0.24% on the stock exchange to close at Rs212.48 per share on Wednesday
The stock price of MCB gained 0.24% on the stock exchange to close at Rs212.48 per share on Wednesday. PHOTO:FILE
KARACHI:
MCB Bank posted unconsolidated profit of Rs10.7 billion in the first half of 2016, down 20.9% from Jan-Jun 2015.
In a stock notice on Wednesday, MCB also announced an interim cash dividend of Rs4 per share, which takes the first half cumulative pay-out to Rs8 per share.
The result was below analysts’ expectations mainly because of lower capital gains realised during the period under review. In the second quarter alone, MCB posted a profit of Rs4.7 billion down 17% from the same period of the preceding year.
According to BMA Capital, the surprise in earnings in Apr-Jun is on the back of lower-than-anticipated capital gains realised amounting to Rs464 million against the expectation of Rs1.45 billion.
The stock price of MCB gained 0.24% on the stock exchange to close at Rs212.48 per share on Wednesday.
Published in The Express Tribune, August 11th, 2016.
MCB Bank posted unconsolidated profit of Rs10.7 billion in the first half of 2016, down 20.9% from Jan-Jun 2015.
In a stock notice on Wednesday, MCB also announced an interim cash dividend of Rs4 per share, which takes the first half cumulative pay-out to Rs8 per share.
The result was below analysts’ expectations mainly because of lower capital gains realised during the period under review. In the second quarter alone, MCB posted a profit of Rs4.7 billion down 17% from the same period of the preceding year.
According to BMA Capital, the surprise in earnings in Apr-Jun is on the back of lower-than-anticipated capital gains realised amounting to Rs464 million against the expectation of Rs1.45 billion.
The stock price of MCB gained 0.24% on the stock exchange to close at Rs212.48 per share on Wednesday.
Published in The Express Tribune, August 11th, 2016.