Karachi, February 08, 2023 (PPI-OT): Commercial Banks – MCB Bank Limited

Earnings: MCB Bank Limited (MCB) announced its annual result for the year 2022. As per the financial
result, the Bank reported earnings of PKR 32.7bn (PKR 27.6/share) during CY22 compared to same period
last year of PKR 30.8bn (PKR 26/share), an increase of +6.3%y/y.

Dividend/Payout: The bank announced a final cash dividend of PKR 6/share this quarter. This brings total
dividend payout to PKR 20/share for CY22.

Operating Performance: During the period under review, the Bank reported net-interest income of PKR
87.2bn (up by +36.2%y/y) and non-interest income of PKR 24.6bn (up by +22.6%y/y). As a result, total
revenue of the bank stood at PKR 111.8bn (up by +33%y/y). Moreover, MCB recorded operating expenses
of PKR 43.2bn (up by +17.1%y/y) that significantly improved bank’s cost/income ratio to 39% (last year:
44%). The Bank booked a provision reversal of PKR 2.8bn during CY22. Tax charge for the year came at
PKR 38.6bn (effective tax rate of 54%).