MCB registered a remarkable financial performance in the nine months which ended on 30th September 2011 as profit before and after tax increased to Rs24.165 billion and Rs15.515 billion respectively, showing growth by 25 per cent and 24 per cent over the corresponding period last year. Net Interest Income of the Bank increased by 22 per cent over September 2010 with Non markup income increasing by a significant 32 per cent to Rs6.077 billion.
On the operating expenses side, gross administrative expenses (excluding the impact of pension fund reversal) increased with a controlled growth of 13 per cent over September 2010. Provisions for the period were reported at Rs2.734 billion. The asset base of the bank grew to Rs685.524 billion from Rs567.553 billion as at the end of the year 2010 with an increase of 21 per cent. The investment portfolio increased considerably by 45 per cent over December 2010 with higher concentration in risk free government securities. Advances (gross) of the Bank were reported at Rs263.564 billion as of 30th September 2011 with a decrease of 4 per cent over 31st December 2010. The classified portfolio of the Bank registered an increase of 8 per cent over 31st December 2010.
The deposit base of the bank went up by 12 per cent, with 12 per cent and 10 per cent increases reported in current and saving deposits respectively, maintaining the CASA percentage at 81 per cent. Earnings per share (EPS) for 30th September 2011 was reported at Rs18.55 compared to Rs14.94 for the corresponding period last year. Return on assets improved to 3.3 per cent which were 3.13 per cent in 2010 whereas return on equity improved to 28.21 per cent which were 25.91 per cent in last year. The Board of Directors declared cash dividend of Rs3.0 per share for the period ended September 30, 2011 (September 30, 2010: cash dividend Rs3.0 per share), in addition to interim cash dividends of Rs6.0 already paid.
