KARACHI: MCB Bank reported on Wednesday earnings of Rs5.9 billion for Jan-March, down four per cent year-on-year.
However, the result remained slightly above market expectations.
MCB booked reversals of provision charges amounting to Rs878m, which were higher on a year-on-year basis, thus contributing to the bottom line.
Net interest income (NII) of the bank went down 14pc because of lower margins. Compared to United Bank and Habib Bank, MCB witnessed a higher fall in NII due to lower balance sheet growth. HBL and UBL also witnessed flat NII in the first quarter of 2017.
Non-interest income of MCB went up 69pc to Rs6.8bn, thanks to a sharp rise in capital gains that increased to Rs2bn. Fee and commission income also increased 12pc.
Courtesy by: https://dawn.com/