MCB Bank Limited - Result Review – By Darson Research

  • By: Darson Securities (Private) Limited

  • - Published: Wednesday, 11 August 2021
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<ul><li><span lang="en-PK" style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MCB has announced its 1HCY21 result with a profit after tax of PKR14.96bn (EPS: PKR12.56) as compared to PAT of PKR13.47bn (EPS: PKR11.33) in 1HCY20, up 11% YoY. The result is higher than our estimate (EPS: PKR6.18) due to reversal in provision charges. MCB also announced a DPS of PKR 5 taking half year dividend to PKR9.50/share.</span></li><li><span lang="en-PK" style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">NII showed a decline of 12% YoY owing to repricing of assets at lower rate.</span></li><li><span lang="en-PK" style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Higher fee and capital gain in 1HCY21 took the non interest income to PKR10.1bn thus depicting a growth of 32% YoY.</span></li><li><span lan...

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