Karachi, February 04, 2020 (PPI-OT): MCB: CY19 earnings clock-in at Rs20.14/share, up 17% YoY
MCB Bank (MCB) announced its CY19 result today posting a consolidated PAT of Rs23.87bn (EPS: Rs20.14), up 17% YoY. The bank also announced final cash dividend of Rs5/share, which was higher than street expectations and bank’s regular payout of Rs4/share, taking CY19 dividend to Rs17/share.
For 4QCY19, earnings remained in-line with expectations at Rs6.51/share (+12% YoY), as the bank recorded Net Interest Income (NII) increase of 38% YoY, which reflected a sequential growth of 8% QoQ. Fee Income growth clocked in at 2% YoY, while Gain on Sale of Securities witnessed a 4x YoY increase. However, the bank booked provisioning expenses of Rs851mn during 4QCY19.