MCB Bank Limited (MCB): Noticeable earnings and attractive P/BV of 1.09x – By SCS Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MCB Bank reported 9MCY20 EPS of Rs 19.35/sh depicting a jump of 41% vis a vis Rs13.74/sh reported in same period last year.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MCB yield CY20 PE of 6.7x &amp; P/BV of 1.09x (by virtue of book-value of Rs156.4/sh). Positive as per our stated methodology.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The bank has a history of passing on dividend, however, it is complying SBP ruling of not passing on quarterly dividend in the bankdrop of effects related to coronavirus on local businesses. Earlier, SBP tried to give reprieve to businesses through bank loans during period of lockdown. MCB bank stated in &lsquo;analyst brief&rsquo; th...