MCB Bank posts record profit of Rs. 32.7 bn

MCB Bank posts record profit of Rs. 32.7 bn

MCB Bank has recorded its highest-ever profit of Rs. 32.7 billion in 2022.

This year’s profit saw a growth of 6.3 percent from the last year’s Rs. 30.8 billion, resulting into Earnings Per Share (EPS) of Rs. 27.63.

With a strong build-up in core earnings, MCB’s before-tax profit for the year ended December 31, 2022, reached a historic high of Rs. 71.4 billion.

The net interest income of MCB Bank for the year ended December 31, 2022, increased by 36 percent over last year.  

Meanwhile, total asset base of the bank was reported at Rs. 2.1 trillion (+6 percent). The gross advances of the bank registered a historic growth of Rs. 162 billion (+25 percent), above the industry average, to close the year at Rs. 798 billion.