Monday, February 9, 2009

"MCB - Earnings expectation"

"MCB - Earnings expectation CY’09"

"MCB" Bank will declare its full year results on 10th Feb, 2009. The bank is expected to post PAT of Rs. 15.027 billion (EPS of Rs. 23.92) down by 1.56% from the previous year. In 4QCY08 the bank is expected to post PAT of Rs.3.40 billion (EPS of Rs. 5.42) resulting in a Y-o-Y decline of 15.3%. We expect the bank to announce final cash dividend of Rs.3 per share taking the full year payout to Rs.12 per share. The company is likely to announce bonus issue (20-25%) as well; as it has to increase it’s paid up capital to Rs. 10 billion by 2010. The current paid up capital of the company stands at Rs. 6.282 billion.

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