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Tuesday, September 22nd, 2020

MCB Bank Limited’s financial results for the half year ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of MCB Bank Limited (MCB) in its Meeting held on July 26, 2011 at 9:00 AM (Malaysian Time), at Kuala Lumpur, Malaysia, recommended the following:

 

(i) Cash Dividend 30%
(ii) Bonus Shares Nil
(iii) Right Shares Nil
(iv) Any Other Entitlement/Corporate Action Nil
(v) Any Other Price-Sensitive Information  Nil

 

The Financial Results approved by the Board of Directors of MCB are appended as Annexure-A.

The Shareholders whose names appear in the Register of Members at the close of business on September 01, 2011 will be entitled to above entitlement.

The Share transfer book of the Bank will remain closed from September 02, 2011 to September 09, 2011 (both days inclusive) subject to the approval of the Stock Exchange. Transfer received at the office of Share Registrar M/S THK Associates (Pvt.) Limited, Ground Floor, State Life Building-3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on September 01, 2011 will be treated in time for the purpose of above entitlement to the transferees.

Results for the Half Year Ended June 30, 2011 are as Follows:

(Annexure “A”)

Quarter Ended Half Year Quarter Ended Half Year
June 30,

2011

June 30,

2011

June 30,

2010

June 30,

2010

(Rupees in ‘000)

Mark-up / return / interest earned 16,882,345 32,842,383 13,295,156 26,395,968
Fee, commission, brokerage and other income 2,144,605 4,152,623 1,590,572 2,990,993
———- ———- ———- ———-
Total Income 19,026,950 36,995,006 14,885,728 29,386,916
Mark-up / return / interest expensed 5,578,371 10,615,257 4,322,267 8,699,310
Provision / Write offs 1,247,830 2,430,942 1,051,978 2,054,287
Operating Expenditure 3,875,104 7,786,789 3,550,512 6,421,243
———- ———- ———- ———-
10,701,305 20,832,988 8,924,757 17,174,840
Profit before Taxation 8,325,645 16,162,018 5,960,971 12,212,121
Taxation- Current period 2,332,358 5,038,032 1,783,526 3,766,817
Prior years
Deferred 445,492 552,574 376,361 503,069
———- ———- ———- ———-
2,777,850 5,590,606 2,159,887 4,269,886
Profit after Taxation 5,547,795 10,571,412 3,801,084 7,942,235
Retained comings brought forward 22,904,297 21,414,955 16,401640 15,779,127
Transfer from surplus on revaluation of- fixed assets – net of tax 8,947 17,894 5,448 10,896
———- ———- ———- ———-
Profit available for appropriations 28,461,039 32,004,261 20,208,172 23,732,258
Appropriations
Transfer to:
Statutory reserve 554,779 1,057,141 380,109 794,224
Issue of bonus shares 760,215 691,105
Final cash dividend 2010 @ Rs. 3 per share-(2009: Rs.3.5) 2,280,645 2,418,866
Cash Dividend March 2011 @ Rs. 3 per share- (March 2010: Rs.2.5) 2,508,709 2,508,709 1,900,560 1,900,560
———- ———- ———- ———-
3,063,488  6,606,710 2,280,669 5,804,755
———- ———- ———- ———-
Unappropriated profit carried forward 25,397,551 25,397,551 17,927,503 17,927,503
———- ———- ———- ———-
Earnings per share – basic and diluted – Rupees 6.63 12.64 4.55 9.50

For more information, contact:
Amin Sukhiani
Executive Vice President
Financial Control Division
MCB Bank Limited
MCB Building, (F-6/G-6)
Jinnah Avenue,
Islamabad, Pakistan
PABX: +9251 2278005-7
Fax: +9251 2277760

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