KARACHI: MCB Bank Ltd posted consolidated earnings of Rs14.7 billion for April-June, up 542 per cent from a year ago, it told investors on Wednesday.
The rise in profitability was because of a “massive jump” in net interest and non-interest incomes, said Arif Habib Ltd.
According to an MCB press release, the bank “achieved substantial growth in core earnings” with a 65pc year-on-year increase in profit before tax, which stood Rs53.84bn for the half-year ending on June 30, 2023.
According to the bank, its profit-after-tax reached Rs26.69bn, a “remarkable growth of 140pc”.
Along with the result, the bank also announced a dividend of Rs7 per share.
Its effective tax rate during the quarter remained 56.6pc versus 87.4pc a year ago.
SNGPL earns Rs10.4bn
Meanwhile, shareholders of Sui Northern Gas Pipelines Ltd in the 58th Annual General Meeting of the company on Aug 1 approved the annual accounts for 2021-22 showing profit-after-tax of Rs10.4bn.
The shareholders also approved a cash dividend of Rs4 per share on the recommendation of the board of directors. Shareholders were informed that this was the sixth consecutive year that the company had declared dividends.
