Continued strong momentum

MCB Group (MCB) delivered a robust set of results for the nine months to end March 2025 (9M25), with net profit rising by 16.2% y-o-y. This was underpinned by an expansion in interest earning assets, both in rupee and foreign currency. Asset quality remained resilient, with a low and improving non-performing loan (NPL) ratio and healthy provision coverage, reflecting prudent risk management. Profitability remained solid, with return on equity edging up to 17.4% (+0.2pp y-o-y), highlighting MCB’s continued ability to deliver strong returns in a stable domestic environment. At the same time, MCB has plenty of room to further expand its loan book based on its healthy loan-to-deposit ratio and strong capital base.