LAHORE: MCB Bank Limited has posted Rs36.729 billion profit before tax and Rs24.325 billion profit after tax with an increase of 14 per cent and 13 per cent over 2013 respectively.
This was revealed during the 67th annual general meeting of the shareholders of MCB Bank Limited, held under the chairmanship of its one of the directors Aftab Ahmed Khan, to transact the ordinary and special businesses of the bank.
The bank’s earning amount was primarily contributed by 15pc increase in net markup income (NMI) and 20pc increase in non-markup income. The net markup income was reported at Rs43.512 billion, whereas Non-Markup Income increased to Rs13.435 billion. The increase in Non-Markup Income was due to compensation received by the Bank on delayed tax refunds amounting to Rs 1.1 billion, income from dealing in foreign currencies of Rs 527 million and fee, commission & brokerage income of Rs484 million.
MCB Bank Limited President Imran Maqbool informed the members that despite the challenging operating environment, the bank delivered exceptional performance and growth in the financial year 2014.
