MCB Bank : Result Preview - 1QCY16 - By HMFS Research

<p><strong><span style="font-size:small;">By,&nbsp;Saba Mahmood, HMFS Research.</span></strong></p><ul><li><span style="font-size:small;">The BoD of MCB bank Ltd is scheduled to meet on April 19, 2016 for the announcement of 1QCY16 results where we anticipate the bank to post after tax earnings of PKR6.74bn (EPS: PKR6.06), recording an uptick of 26% Q/Q. On a yearly basis, the bottom line is likely to recede by 15% Y/Y mainly due to 1) Absence of any major capital gains booked by the bank, and 2) Lower core interest income (in line with the industry trend). We expect MCB&nbsp;to payout a cash dividend of PKR3.50-4.00/share. &nbsp;&nbsp;</span></li></ul><ul><li><span style="font-size:small;">Loan book of the bank is expected to taper marginally by 1% Q/Q despite of a low interest rate environment resulting in 2.86% Q/Q lower core inco...