The recent quarterly announcement by MCB Bank Limited has portrayed its highest ever quarterly profit before tax of Rs 11.9 billion and profit after tax of Rs 7.9 billion. Profit before tax has shown an exceptional growth of 42.10% which is mainly contributed by 91.32% increase in Non-markup income and 19.6% increase in Net Markup Income.
Non Markup earnings – A vertebrae for 2015: On the non-markup income front, the Bank registered significant growth from gain on sale of securities (864%), fee income (23%), and dividend income (29%). Yearly comparison shows an applauding contribution of Rs 2.5 billion in March 2015 by the non-interest income, converting into 91.3% to Rs 5.24 billion. Quarterly assessment also shows an intense dependency on this income that surged by 35% in March 2015 against Rs 3.89 billion in 4QCY14.
Investment reaching new elevations: The total asset base of the Bank reported at Rs 1.01 trillion, presenting a healthy growth of Rs 78 billion (8%) over December 2014. Net investments have increased by Rs 74.8 billion over December 31, 2014 to reach Rs 585.97 billion. Quarterly comparison has shown a decline in PIBs by 2.88% from Rs 0.33 billion to Rs 0.32 billion. Treasury Bills, on the contrary, witnessed a big jump of 46.49% during the quarter from Rs 0.14 billion to Rs 0.21 billion.
Deposit Base standing stout: MCB Bank Limited continued to enjoy the highest CASA mix of 91.36% with current deposits increasing by 9.67% from Rs 232.22 billion in December 2014 to Rs 254.66 billion in March 2015; and saving deposits by 6.06% to Rs 417.86 billion in March 2015 over Rs 393.98 billion in December 2014. Return on Assets and Return on Equity improved to 3.25% and 29.1% respectively