KARACHI- The MCB Bank has declared profit before tax of Rs19.4 billion as against Rs17.6 billion for the corresponding period of last year registering a substantial growth of 10pc. Profit after tax was reported at 12.5 billion translating into an EPS of Rs. 16.44 against Rs. 15.53 for September 2009. The reported profit for the quarter ended September 30, 2010 was the highest in the history of MCB Bank Limited. The Board of Directors met on Tuesday under the chairmanship of Mian Mohammad Mansha and reviewed the performance of the Bank for the nine months ended September 30th, 2010. The financial results for the nine months period ended September 30, 2010 were presented before the Board of Directors of MCB Bank, which were approved. During the nine months ended on September 30, 2010, the Bank delivered profit before tax of Rs19.4 billion as against Rs17.6 billion for the similar period last year registering a substantial growth of 10%. Profit after tax was reported at 12.5 billion translating into an EPS of Rs. 16.44 against Rs. 15.53 for September 2009. The reported profit for the quarter ended September 30, 2010 was the highest in the history of MCB Bank Ltd. Markup income for the period increased by 5% as compared to corresponding period last year and was reported at Rs. 40 billion, resulting in a 1% increase in net-interest income. Non interest income increased considerably by 17% over corresponding period last year, owing mainly to the new products launched / initiatives taken by the Bank. The provision charge against advances decreased significantly by 55% whereas provision against investments decreased by 85% over corresponding period last year. Total deposits presented a robust increase of 15% reaching Rs 422.3 billion from Rs 367.6 billion at December 2009; with low cost CASA rising by 13% from December 2009, representing 81% of the total deposit base. The strong increase in deposits base geared MCBs domestic market share to 8.9% from 8.3% at December 2009. The total asset base of the bank grew by Rs. 30 billion over December 2009. Major contribution to the said increase was investments that registered a significant increase of 24% and were reported at 208b as at September 30, 2010. Gross advances on the other hand decreased by 8% over December 2009, mainly owing to the overall shortfall in domestic credit. The equity base of the Bank was reported at 67 billion depicting an increase of 10% over December 2009. Return on Equity (ROE) & Return on Assets (ROA) were recorded at 26% & 3.2% respectively. The Board of Directors of the Bank declared third interim cash dividend for the nine months period ended September 30, 2010 at Rs 3.00 per share (i.e 30pc). This is in addition to interim cash dividend already paid during the financial year at Rs 6.00 per share (i.e. 60%).