MCB Announce 25% Cash Dividend and 10% Bonus

KARACHI: MCB Bank, having a huge investment portfolio, also announced its financial results, which had been delayed because of impairment values treatment problem. MCB Bank depicted a negligible 0.71 percent growth in profit to Rs 15.374 billion in 2008 from Rs 15.265 billion in 2007, according to a notice issued by the Karachi Stock Exchange (KSE) on Monday. It announced 25 percent cash dividend and 10 percent bonus shares.

The earnings per share (EPS) stood at Rs 24.47 for the year under review compared with Rs 24.30 in the previous year. The profit before tax stood at Rs 21.867 billion in 2008 compared with Rs 20.808 billion in the previous year. The bank’s income on account of markup/return/interest jumped to Rs 40.043 billion in 2008 from Rs 31.785 billion in 2007. Operating expenditure saw substantial increase to Rs 23.967 billion from Rs 16.926 billion in the previous year.

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