MCB Bank Limited (MCB): Corporate Briefing Key Takeaways – By Sherman Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MCB Bank Limited (MCB) held its corporate briefing on 28 Feb&rsquo;24 to discuss CY23 results.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MCB unconsolidated earnings during CY23 increased to Rs59.6bn (EPS: Rs50.3) as against Rs32.7bn (EPS: Rs27.6) during the same period last year up 82%YoY.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The management attributed profitability largely to 1) Strong volumetric growth in current account, 2) timely repositioning of the asset book 3) growth in fee commission income, foreign currency dealing and higher dividend income.</span></li></ul><p></p>