Lahore: MCB Bank Limited has reported a strong financial performance for the year ended December 31, 2024. The Board of Directors, led by Chairman Mian Mohammad Mansha, approved the annual financial statements and declared a final cash dividend of PKR 9.0 per share, bringing the total cash dividend for the year to 360%.

According to a statement by MCB Bank Limited, the Bank recorded a profit before tax of PKR 118.4 billion and a profit after tax of PKR 57.6 billion, with earnings per share of PKR 48.62. Despite challenges such as a negative spread on saving deposits, the Bank saw a 1% growth in net interest income and a 14% rise in non-markup income, driven by increased fee, commission, and foreign exchange income.

The Bank's focus on digital transformation contributed to a 32% increase in card-related income and significant growth in branch banking fees and investment service commissions. Operating expenses rose by 18%, but the cost-to-income ratio remained efficient at 32.68%.

MCB's asset quality management kept non-performing loans at PKR 53.5 billion, with improved coverage and infection ratios. The total assets of the Bank increased by 11% to PKR 2.7 trillion, and a deposit mobilization drive led to a growth of PKR 116.8 billion in total deposits.

The Bank's financial stability is underscored by its Capital Adequacy Ratio of 19.35% and a Common Equity Tier-1 ratio of 15.49%. MCB received an "AAA / A1+" credit rating from the Pakistan Credit Rating Agency and was recognized by the Asian Development Bank with two awards for its role in trade and supply chain finance.

MCB Bank operates over 1,700 branches and remains a significant player in the local equity market, exemplifying its leadership in the financial sector.