Balance Sheet of Mcb Bank 2009 - Excel

							COMMENTS ON RESULTS TO 31ST MARCH 2009

1. The Interim financial statements have been prepared using the same accounting policies as those adopted in the financial statements for the year ended 30th June 2008 and comply with IAS34.

2. RESULTS
   Profits attributable to shareholders reached Rs 2.9 billion for the nine months ended 31st March 2009, an increase of 7.3% compared to the same period in 2007/08, which included a non-recurrent profit of Rs 425 million
   on sale of investments. Excluding this item, the underlying growth in Group results is 27.3 %. Earnings per share for the period climbed to Rs 12.25.

  Balance sheet growth, which was very strong during the six months to December 2008, has somewhat slowed down during the last quarter. However, with a 29% annual increase in the loan book as at 31st March,
  2009 and with total assets growing 18% over a year to Rs 143.8 billion, there was sufficient momentum created to substantially boost net interest income which, at Group level, reached Rs 3.7 billion for the nine
  months, an increase of 23.2 % over the corresponding period in 2007/08.

  In the context of the global economic crisis, asset growth is expected to be more subdued in the coming months, in line with a slow-down in the major sectors of the local and regional economies. However, in spite of
  uncertainty regarding the immediate future, the MCB Group, with its strong liquidity and capital base, remains well poised to face the challenges lying ahead. On current trends, the Board expects that the previously
  announced target of Rs 4 billion for the full year results will be attained.