Muslim Commercial Bank (MCB), which is due to announce its full year CY12 results on Thursday (today), is expected to post a profit after tax (PAT) of Rs 22.1 billion.
The bank’s expected PAT, market analysts said, would translate into a diluted earning per share (EPS) of Rs 24.03, marking a significant increase of 14 percent year-on-year. “We expect the bank to post PAT of Rs22.1 billion translating into a diluted EPS of Rs 24.03, up by a significant 14% YoY,” said a report issued by the InvestCap Research on Wednesday.
It said whereas the net interest income of the bank was expected to slide by 8%YoY, the bank’s profitability was to be driven by lower provisions, expected to fall by 89%YoY in CY12, along with 22% increase in non-interest income.
The report said the enhancement in the bank’s non-interest income was mainly led by expectations of improved commission and brokerage income on the back of improved performance by the market witnessed in CY12.
Furthermore, it said, the bank was expected to announce a final cash dividend of up to Rs4/share taking the full year payout to Rs14/share.
On a quarterly basis, PAT was expected to inch up by 2% in the fourth quarter of CY12 to a level of Rs 5,431 million, translating into an EPS of 5.90 per share.
