Remarkable financial strength demonstrated by MCB Islamic Bank, with a 348% growth in Profit before Tax compared to the same period in 2022, reaching PKR 7.506 billion in the third quarter of 2023.
This achievement underscores the bank’s commitment to low-cost deposit acquisition, strategic investments, responsible financing practices, risk management, regulatory compliance, and its prominent role in the Islamic Banking Industry.
The bank has also witnessed a 28% YoY growth in deposits, totaling PKR 183 billion, with a robust 77% Current and Saving Account (CASA) mix, reflecting customer trust and strategic focus.
Total Assets reached PKR 234 billion, Net Financing amounted to PKR 71.50 billion, and Investments reached an impressive PKR 110.76 billion, reflecting efficient capital management and high-quality assets.
MCB Islamic Bank achieved an Operating Income of PKR 13.62 billion and a 2.37% Return on Total Assets, emphasizing its commitment to delivering value. Earnings per share after tax increased significantly from PKR 0.64 to PKR 2.47.
The bank’s outstanding performance is a testament to its growth dedication and responsible financial management, ensuring continued value for stakeholders. The bank expresses gratitude to its valued customers for their trust and support in fulfilling their financial needs.
