Earnings Report /
Pakistan

MCB Bank (Pakistan): 3QCY21 review – Large provisioning reversals continue

  • MCB has posted consolidated 3QCY21 EPS of PKR6.73, lower by 20%yoy (due to a high base) and flat qoq

  • An in-line result, large provisioning reversal of PKR1.5bn is a key feature

  • MCB is going from strength to strength in terms of loan book quality, and trades at CY22f P/B of 1.0x.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
27 October 2021