MCB Bank reported highest pretax quarterly profit of Rs9.4 billion in its history for the quarter ended June 30.
The bank’s board that met with its chairman Mian Mohammad Mansha in the chair approved its unaudited accounts yesterday noting that the operational profitability from the bank’s core business had indicated significant improvement.
“The impact of regulatory revision in minimum deposit rate was managed by strategically increasing CASA deposit base and tapering off high cost fixed deposits,” an announcement said after the meeting.
This timely shift in the concentration of earning assets based on interest rate call resulted in improvement of interest margins by 14 per cent.
