KARACHI: Aug, 26 (TNS): MCB Bank posted a consolidated profit of Rs13.6 billion for January-June, up 23.6 per cent from a year ago.
For April-June, its profit increased 58pc to Rs7.6bn, the bank said on Friday.
Net interest income (NII) in the first half of 2017 declined 15pc. NII in the second quarter also witnessed a 15pc drop on an annual basis.
Operating expenses increased 22pc to Rs14.3bn in the first half of the year. “The bank recorded earnings per share of Rs12.18, higher than our estimates, primarily on the back of tax reversals booked from prior years’ worth Rs2.2bn. Net fee income showed an impressive growth of 57pc year-on-year, clocking in at Rs9.8bn for January-June,” said a report by Arif Habib Ltd.
