MCB Islamic banking business reports decline in earnings

MCB Islamic banking business reports decline in earnings

KARACHI: The Islamic banking business of Muslim Commercial Bank (MCB) witnessed modest performance in its recently announced financial results for the half year ended June 30, 2011.

Comments

Post a Comment

Popular posts from this blog

Bank Alfalah Islamic Banking Business net assets surge by 22.23pct

Image
By Riffat Mughal KARACHI: Bank Alfalah Limited Pakistan (BAFL) Islamic banking business net assets surged by 22.23 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 5,888.209 million as on September 30, 2011 as against to Rs 4,817.195 million as on December 31, 2011. Bank’s advances declined during the period by 10.44 percent to Rs 23,247.294 million. Bank Alfalah Islamic banking business net investments increased by outstanding 44.97 percent to Rs 31,938.394 million and fixed assets climbed up by 2.38 percent to Rs 1,677.560 million during the period under review. Balances with and due from Financial Institutions (FIs) also went up by 19.87 percent to Rs 4,631.542 million. With the decline in demand for finance from sound and blue chip companies amid slow economic activity, the bank used the funds more towards investments. On liabilities side, total deposits and other accounts increased by 14.80 percen...
Read more