Author Topic: MCB -- MCB Bank Ltd.  (Read 231089 times)

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Offline Farzooq

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Re: MCB -- MCB Bank Ltd.
« Reply #959 on: August 07, 2019, 12:54:17 PM »
MCB-Financial Results for 2QCY19

Dividend: Cash dividend of PKR 4 per share
EPS for the 2QCY19 clocked in at PKR 4.72 against EPS of PKR 4.21 in SPLY.
1HCY19 EPS of the company clocked in at PKR 9.01 against of EPS of PKR 8.24 SPLY
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Re: MCB -- MCB Bank Ltd.
« Reply #959 on: August 07, 2019, 12:54:17 PM »

Offline farhan hafeez

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Re: MCB -- MCB Bank Ltd.
« Reply #960 on: August 20, 2019, 10:03:27 AM »
whats up with this?

Offline Farzooq

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Re: MCB -- MCB Bank Ltd.
« Reply #961 on: October 15, 2019, 05:04:36 PM »
MCB: Earnings expected to grow 20% YoY during 9MCY19

We forecast MCB (result announcement: 17th Oct, 2019) to post a PAT of PKR 16.3bn during 9MCY19 (PKR 13.74/share) - an uptick of 20% YoY while on a sequential basis, the bank’s profitability is expected to increase 8% QoQ. Although the 100 bps hike during July in rates may fuel an aggressive spike in deposit expense, NII momentum is likely to continue (+30% YoY/+7% QoQ) taking the profitability of the bank upwards. Provisioning is likely to be much lower this quarter owing to improved stock market performance (impairment charge was booked last quarter worth PKR 1.8bn). A jump of 6% YoY/9% QoQ in OPEX is likely to provide some stress to earnings. Payout at PKR 4.00/share for the quarter is likely to continue taking total dividend for 9M to PKR 12.00/share
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Offline Farzooq

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Re: MCB -- MCB Bank Ltd.
« Reply #962 on: October 17, 2019, 07:02:26 PM »
MCB 3QCY19 higher provision erodes bottom-line

MCB Bank Limited (MCB) announced its financial results for 3QCY19 wherein the bank reported EPS of PKR4.8 (BMA: PKR5.3), up 5% QoQ, translating into EPS of PKR13.6 for 9MCY19, up 19% YoY.
Along with the result, MCB announced an interim dividend of PKR4/sh, taking cumulative dividend to PKR12/share for 9MCY19.
On a sequential basis, Net Interest Income (NII) expanded by 8/38% on QoQ/YoY basis. On the other hand, non-interest income declined by 21% on QoQ while it remained almost flat on YoY basis. Fee income remained flat on QoQ but witnessed an increase of 10% on YoY basis.
Operating expenses reported a mere growth of 2/7% QoQ/YoY. Significant increase in total income (22%) during 9MCY19 coupled with 13% increase in operating expenses lowered cost/income to 49% vs. 53% in 8MCY18.
The main deviation came from higher than expected provisioning charge of PKR0.9bn during the quarter taking cumulative provisioning charge to PKR1.8bn in 9MCY19.
The result was slightly below our expectations as the company reported higher than expected provisions coupled with loss on securities. However, strong growth in NII is suggestive of NIM improvement which is expected to continue the momentum in the coming quarters.
We believe that MCB’s loan book and investment portfolio makes it well positioned to capitalize on the interest rate dynamics. We have a BUY stance on the stock trading at a P/B of 1.2x
Key risk to our investment thesis includes slower recovery of legacy NPLs.
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