MCB Bank Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on February 15, 2018.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2017 which portrayed a profit of Rs. 22,458,901 with earnings per share 19.56 basic and diluted respectively.
Further, 40% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from March 20, 2018 to March 27, 2018 (both days inclusive).
The announcement is available at:
MCB Bank Limited was incorporated in Pakistan on July 9, 1947. MCB bank was nationalized in 1974 as pat of Government of Pakistan's economic reform movement. It was later privatized to Nishat Group in 1991. The bank has a domestic network of over 1208 branches, 27 Islamic banking branches and over 690 ATMs across Pakistan. It is also recognized and traded on the international markets. The bank has been acknowledged and awarded by Euromoney, MMT, Asia Money, SAFA (SAARC), The Asset and The Asian Banker. The ordinary shares of the bank are listed on Karachi, Lahore and Islamabad Stock Exchanges within Pakistan whereas its global depository receipts are traded on the international order book system of the London Stock Exchange. The registered office of the bank is located in Lahore.
The bank is engaged with commercial banking and related services. The entire MCB Group includes MCB Financial Services Limited, MNET Services Private Limited, MCB Trade Services Limited, MCB- Arif Habib Savings and Investments Limited and MCB Leasing Closed Joint Stock Company.
The symbol "MCB" is being used by the stock exchanges for the shares of MCB Bank Limited.
© Pakistan Press International, source Asianet-Pakistan