MCB’s earnings drop 7.8 per cent to Rs18 billion

ISLAMABAD: Muslim Commercial Bank (MCB) has recorded a profit after tax (PAT) of more than Rs18 billion in one quarter.

This was mentioned in a report released for the quarter that ended in September.

Despite the hefty profit amount, this PAT is about 7.8 per cent lower than what the popular bank earned in the same period of last year.

The MCB recorded a PAT of Rs19.66 billion in the same quarter of 2023.

The latest PAT shows that the Pakistani bank’s earnings per share were recorded at Rs15.27. This is slightly bigger than what analysts expected earnings to stand at Rs14.77 per share.

An interim cash dividend of Rs9 per share, which is 90 per cent for the nine months, was announced by the MCB.

It is worth mentioning that this is in addition to the 180 per cent or Rs18 per share dividend already paid by the bank.

Read next: Global oil prices surge, wiping previous losses