Earnings per share stood at Rs1.03 during first six months of 2010 compared with Rs0.9 during the same period last year, an increase of about 14 per cent on yearly basis.
The board of directors did not announce interim cash or dividend for the period under review, according to the results posted on the Karachi Stock Exchange website on Monday.
Profits earned from financing and investments jumped 23 per cent to Rs5.9 billion from Rs4.9 billion last year.
The bank’s administrative expense rose 35 per cent to Rs2.2 billion from Rs1.7 billion last year, however, not enough to offset the company’s net profit, analyst said.
Other income also rose 36 per cent to Rs940 million against Rs691 million posted last year.
MCB earnings tomorrow
MCB’s earnings are expected to increase by 20 per cent to Rs4.36 billion or earnings per share of Rs5.74, according to IGI Securities.
The bank is also expected to announce a cash dividend of Rs2.5 per share.
The positive earnings comes on the back of stable NIM margins which is holding up better because of firm Kibor, said IGI Securities analyst Ahmed Raza Khan in the company research report.
Published in The Express Tribune, August 4th, 2010.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ