KARACHI - The Board of Directors of MCB Bank Limited met on Friday under the chairmanship of Mian Mohammad Mansha and reviewed the performance of the bank during the nine months ended September 30, 2009. The financial results for the nine months period ended September 30, 2009 were presented before the Board of Directors of MCB Bank, which were approved. Despite the overall slow down in the economy, the bank continued to perform well both in terms of balance sheet and revenue growth. During the nine months of the calendar year 2009, the banks profit before tax closed at Rs17.6 billion; registering a significant growth of 8 per cent over the reported profit before tax of corresponding period last year. Profit after tax closed at Rs11.8 billion; translating into an EPS of Rs17.08. During the period under review, the banks deposits showed a growth of 10 per cent from Dec 31, 2008 and closed at Rs362 billion. Gross loans and advances decreased by Rs20 billion from Rs273 billion as at Dec 31, 2008, and closed at Rs253 billion. Equity (before surplus) increased by 13 per cent over the year-end figure of 52b. The Board of Directors have announced cash dividend in respect of the nine month ended September 30, 2009 of Rs2.5 per share.