MCB Bank Limited has announced its financial results for the first half of 2024, reporting a record-breaking profit before tax of Rs. 62.7 billion. This represents a 16 percent increase compared to the same period last year.
The bank’s strong performance was driven by a combination of factors, including increased net interest income, growth in non-markup income, and effective cost management. MCB’s non-performing loan ratio remained at a healthy level, indicating prudent risk management.
The Board of Directors has declared a second interim cash dividend of Rs. 9.0 per share, bringing the total dividend for the first half of 2024 to Rs. 180 percent. This reflects the bank’s commitment to rewarding its shareholders.
MCB Bank’s financial position remains strong, with a total asset base of Rs. 2.67 trillion and a solid capital adequacy ratio. The bank continues to focus on building its deposit base and expanding its branch network to enhance customer accessibility.