RNS Number : 8174G
MCB Bank Limited
10 August 2016
SE-100(5F)2016/44
August 10, 2016
London Stock Exchange
Sub: FINANCIAL RESULTS - MCB BANK
LIMITED
HALF YEAR ENDED JUNE 30, 2016
Dear Sir,
We have to inform you that the Board of Directors of MCB Bank Limited in
their Meeting held on August 10, 2016, at 11:00 AM, at 9th Floor, MCB Building, 15-Main Gulberg, Lahore,
Pakistan, recommended the following:
(i) CASH
DIVIDEND
40% [i.e. PKR 4.00 per share]
(ii) BONUS SHARES
Nil
(iii) RIGHT SHARES
Nil
(iv) ANY OTHER ENTITLEMENT/CORPORATE
ACTION
Nil
(v) ANY OTHER PRICE-SENSITIVE
INFORMATION
Nil
The Financial Results approved by the Board of Directors of MCB Bank, are attached as Annexure-A.
The Share transfer books of the Bank will be closed from September 10, 2016 to
September 17, 2016 (both days inclusive). Transfer received at the office of Share Registrar, M/s. THK Associates (Pvt.)
Ltd, 2nd Floor, State Life Building-3, Dr. Ziauddin Ahmed Road, Karachi, at the close of business on September 09, 2016, will be treated in time for the purpose of above entitlement to the transferees.
We will be sending 200 copies of printed Accounts for distribution amongst the members of the
Exchange.
Yours truly,
Fida Ali Mirza
Company Secretary
|
MCB Bank Limited
|
|
|
|
|
|
|
|
|
|
Unconsolidated Condensed Interim Profit and Loss Account (Un-audited)
|
|
|
|
|
|
|
|
|
Results for the half year ended June 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Annexure A
|
|
|
|
Quarter ended
June 30,
2016
|
|
Half year ended
June 30,
2016
|
|
Quarter ended
June 30,
2015
|
|
Half year ended
June 30,
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
---------- (Rupees in '000) ----------
|
|
|
Mark-up / return / interest earned
|
|
18,774,414
|
|
36,388,562
|
|
20,901,423
|
|
41,526,821
|
|
|
Mark-up / return / interest expensed
|
|
6,703,044
|
|
12,992,000
|
|
7,969,481
|
|
16,592,693
|
|
|
Net mark-up / interest income
|
|
12,071,370
|
|
23,396,562
|
|
12,931,942
|
|
24,934,128
|
|
|
Provision / (reversal) against loans and advances - net
|
|
(159,208)
|
|
(624,848)
|
|
(489,881)
|
|
(739,540)
|
|
|
Provision / (reversal) for diminution in the value of investments - net
|
|
4,479
|
|
4,479
|
|
(402)
|
|
(16,461)
|
|
|
Bad debts written off directly
|
|
6
|
|
18
|
|
67
|
|
67
|
|
|
|
|
(154,723)
|
|
(620,351)
|
|
(490,216)
|
|
(755,934)
|
|
|
Net mark-up / interest income after provisions
|
|
12,226,093
|
|
24,016,913
|
|
13,422,158
|
|
25,690,062
|
|
|
Non mark-up / interest income
|
|
|
|
|
|
|
|
|
|
|
Fee, commission and brokerage income
|
|
1,950,527
|
|
3,882,300
|
|
2,145,689
|
|
4,085,662
|
|
|
Dividend income
|
|
286,668
|
|
736,858
|
|
257,712
|
|
615,053
|
|
|
Income from dealing in foreign currencies
|
|
281,558
|
|
492,984
|
|
228,675
|
|
482,559
|
|
|
Gain on sale of securities - net
|
|
463,829
|
|
668,302
|
|
464,574
|
|
2,915,646
|
|
|
Unrealized gain/(loss) on revaluation of investments
classified as held for trading
|
|
1,220
|
|
(212)
|
|
34,553
|
|
(159)
|
|
|
Other income
|
|
116,226
|
|
277,838
|
|
941,854
|
|
1,078,745
|
|
|
Total non mark-up / interest income
|
|
3,100,028
|
|
6,058,070
|
|
4,073,057
|
|
9,177,506
|
|
|
|
|
15,326,121
|
|
30,074,983
|
|
17,495,215
|
|
34,867,568
|
|
|
Non mark-up / interest expenses
|
|
|
|
|
|
|
|
|
|
|
Administrative expenses
|
|
5,255,269
|
|
10,719,181
|
|
5,318,125
|
|
10,570,579
|
|
|
Other provision / (reversal) - net
|
|
12,696
|
|
31,841
|
|
10,725
|
|
3,925
|
|
|
Other charges
|
|
228,602
|
|
420,283
|
|
249,970
|
|
502,946
|
|
|
Total non mark-up / interest expenses
|
|
5,496,567
|
|
11,171,305
|
|
5,578,820
|
|
11,077,450
|
|
|
|
|
9,829,554
|
|
18,903,678
|
|
11,916,395
|
|
23,790,118
|
|
|
Extraordinary / unusual item
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Profit before taxation
|
|
9,829,554
|
|
18,903,678
|
|
11,916,395
|
|
23,790,118
|
|
|
Taxation - current
period
|
|
3,421,962
|
|
6,637,434
|
|
4,248,335
|
|
8,216,777
|
|
|
- prior years
|
|
1,693,330
|
|
1,693,330
|
|
1,906,156
|
|
1,906,156
|
|
|
- deferred
|
|
19,946
|
|
(138,071)
|
|
132,959
|
|
126,238
|
|
|
|
|
5,135,238
|
|
8,192,693
|
|
6,287,450
|
|
10,249,171
|
|
|
Profit after taxation
|
|
4,694,316
|
|
10,710,985
|
|
5,628,945
|
|
13,540,947
|
|
|
Retained earnings brought forward
|
|
51,721,395
|
|
50,746,685
|
|
49,628,449
|
|
46,947,863
|
|
|
Measurement of defined benefit plans - net of tax
|
|
(81,063)
|
|
(81,063)
|
|
(1,129,965)
|
|
(1,129,965)
|
|
|
Transferred from surplus on revaluation of fixed assets - net of tax
|
|
12,092
|
|
24,311
|
|
12,531
|
|
24,438
|
|
|
|
|
51,652,424
|
|
50,689,933
|
|
48,511,015
|
|
45,842,336
|
|
|
|
|
56,346,740
|
|
61,400,918
|
|
54,139,960
|
|
59,383,283
|
|
|
Appropriations:
|
|
|
|
|
|
|
|
|
|
|
Transferred to:
|
|
|
|
|
|
|
|
|
|
|
Statutory reserve
|
|
469,044
|
|
1,071,099
|
|
562,895
|
|
1,354,095
|
|
|
Final Cash Dividend December 31, 2015 @ Rs 4.00 per share - (December 31, 2014: Rs.
4.00)
|
-
|
|
4,452,123
|
|
-
|
|
4,452,123
|
|
|
Cash dividend - March 31, 2016 @ Rs 4.0 per share - (March 31, 2015: Rs.4.0)
|
|
4,452,123
|
|
4,452,123
|
|
4,452,123
|
|
4,452,123
|
|
|
|
|
4,921,167
|
|
9,975,345
|
|
5,015,018
|
|
10,258,341
|
|
|
Retained earnings carried forward
|
|
51,425,573
|
|
51,425,573
|
|
49,124,942
|
|
49,124,942
|
|
|
Earnings per share - basic and diluted - Rupees
|
|
4.22
|
|
9.62
|
|
5.06
|
|
12.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MCB Bank Limited & Subsidiary Companies
|
|
|
|
|
|
|
|
|
Consolidated Condensed Interim Profit and Loss Account (Un-audited)
|
|
|
|
|
|
|
|
|
Results for the half year ended June 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Annexure A
|
|
|
|
Quarter ended
June 30,
2016
|
|
Half year ended
June 30,
2016
|
|
Quarter ended
June 30,
2015
|
|
Half year ended
June 30,
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
---------- (Rupees in '000) ----------
|
|
|
Mark-up / return / interest earned
|
19,289,118
|
|
37,304,232
|
|
20,932,421
|
|
41,582,598
|
|
|
Mark-up / return / interest expensed
|
6,863,626
|
|
13,274,512
|
|
7,979,726
|
|
16,606,758
|
|
|
Net mark-up / interest income
|
12,425,492
|
|
24,029,720
|
|
12,952,695
|
|
24,975,840
|
|
|
Provision / (reversal) against loans and advances - net
|
(138,176)
|
|
(568,834)
|
|
(489,968)
|
|
(739,525)
|
|
|
Provision / (reversal) for diminution in the value of investments - net
|
4,479
|
|
4,479
|
|
(402)
|
|
(16,461)
|
|
|
Bad debts written off directly
|
6
|
|
18
|
|
67
|
|
67
|
|
|
|
(133,691)
|
|
(564,337)
|
|
(490,303)
|
|
(755,919)
|
|
|
Net mark-up / interest income after provisions
|
12,559,183
|
|
24,594,057
|
|
13,442,998
|
|
25,731,759
|
|
|
Non mark-up / interest income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fee, commission and brokerage income
|
2,111,501
|
|
4,206,793
|
|
2,306,572
|
|
4,399,406
|
|
|
Dividend income
|
154,337
|
|
564,702
|
|
110,018
|
|
411,924
|
|
|
Income from dealing in foreign currencies
|
287,749
|
|
505,623
|
|
228,199
|
|
352,987
|
|
|
Gain on sale of securities - net
|
519,447
|
|
681,683
|
|
535,970
|
|
2,812,472
|
|
|
Unrealized gain/(loss) on revaluation of investments
classified as held for trading
|
(4,089)
|
|
1,151
|
|
(16,333)
|
|
(134)
|
|
|
Other income
|
136,801
|
|
300,533
|
|
945,282
|
|
1,083,736
|
|
|
Total non mark-up / interest income
|
3,205,746
|
|
6,260,485
|
|
4,109,708
|
|
9,060,391
|
|
|
|
15,764,929
|
|
30,854,542
|
|
17,552,706
|
|
34,792,150
|
|
|
Non mark-up / interest expenses
|
|
|
|
|
|
|
|
|
|
Administrative expenses
|
5,582,674
|
|
11,355,914
|
|
5,427,815
|
|
10,777,580
|
|
|
Other provision / (reversal) - net
|
12,696
|
|
31,841
|
|
10,725
|
|
3,925
|
|
|
Other charges
|
233,272
|
|
438,271
|
|
250,016
|
|
503,052
|
|
|
Total non mark-up / interest expenses
|
5,828,642
|
|
11,826,026
|
|
5,688,556
|
|
11,284,557
|
|
|
|
9,936,287
|
|
19,028,516
|
|
11,864,150
|
|
23,507,593
|
|
|
Share of profit of associates
|
279,107
|
|
506,659
|
|
278,535
|
|
501,761
|
|
|
Extraordinary / unusual item
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Profit before taxation
|
10,215,394
|
|
19,535,175
|
|
12,142,685
|
|
24,009,354
|
|
|
Taxation - current
period
|
3,516,420
|
|
6,774,917
|
|
4,284,730
|
|
8,252,682
|
|
|
-
prior years
|
1,693,330
|
|
1,693,330
|
|
1,906,156
|
|
1,906,156
|
|
|
- deferred
|
74,648
|
|
(28,370)
|
|
441,429
|
|
442,665
|
|
|
Share of tax of associates
|
71,718
|
|
87,544
|
|
26,754
|
|
39,125
|
|
|
|
5,356,116
|
|
8,527,421
|
|
6,659,069
|
|
10,640,628
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit after taxation
|
4,859,278
|
|
11,007,754
|
|
5,483,616
|
|
13,368,726
|
|
|
Profit attributable to Non-controlling interest
|
(31,074)
|
|
(61,024)
|
|
(32,869)
|
|
(64,763)
|
|
|
Profit attributable to ordinary share holders
|
4,828,204
|
|
10,946,730
|
|
5,450,747
|
|
13,303,963
|
|
|
|
|
|
|
|
|
|
|
|
|
Retained earnings brought forward
|
53,703,737
|
|
52,631,368
|
|
52,386,897
|
|
49,765,031
|
|
|
Measurement of defined benefit plans - net of tax
|
(81,063)
|
|
(81,063)
|
|
(1,129,965)
|
|
(1,129,965)
|
|
|
Transferred from surplus on revaluation of fixed assets - net of tax
|
20,515
|
|
32,734
|
|
12,604
|
|
24,577
|
|
|
|
53,643,189
|
|
52,583,039
|
|
51,269,536
|
|
48,659,643
|
|
|
|
58,471,393
|
|
63,529,769
|
|
56,720,283
|
|
61,963,606
|
|
|
Appropriations:
|
|
|
|
|
|
|
|
|
|
Transferred to:
|
|
|
|
|
|
|
|
|
|
Statutory reserve
|
480,913
|
|
1,087,166
|
|
562,895
|
|
1,354,095
|
|
|
Final Cash Dividend December 31, 2015 @ Rs 4.00 per share - (December 31, 2014: Rs.
4.00)
|
-
|
|
4,452,123
|
|
-
|
|
4,452,123
|
|
|
Cash dividend - March 31, 2016 @ Rs 4.0 per share - (March 31, 2015: Rs.4.0)
|
4,452,123
|
|
4,452,123
|
|
4,452,123
|
|
4,452,123
|
|
|
|
4,933,036
|
|
9,991,412
|
|
5,015,018
|
|
10,258,341
|
|
|
Retained earnings carried forward
|
53,538,357
|
|
53,538,357
|
|
51,705,265
|
|
51,705,265
|
|
|
Earnings per share - basic and diluted - Rupees
|
4.37
|
|
9.84
|
|
4.93
|
|
11.95
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
http://www.rns-pdf.londonstockexchange.com/rns/8174G_-2016-8-10.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCURVRRNKAWAAR