MCB Investment Management Limited reported earnings per share of PKR 11.96 in FY24 against PKR 5.25 in FY23, an increase of 128%.
Total income in FY24 was recorded at PKR 2.38 Bn, up 77% from PKR 1.34 Bn in FY23. MCBIM is currently pursuing licenses for REIT management and private fund management services.
While these initiatives are not expecting to provide significant upside in the near future the company is hopeful that over time they will contribute to profitability. The company has also worked to increase its customer base by focusing on digital initiatives such as integrating the MCB Live app, introducing biometric verisys and eliminating the need for physical forms.
The management highlighted that at the end of FY23 assets under management were PKR 226 Bn which reached PKR 326 Bn by the end of FY24.
The company has also put in significant effort into fine tuning its approach to investors by analyzing their marketing efforts and by analyzing the data of its existing customers. Using this it expects to be able to improve its efforts to gain more investors.
Management also highlighted that it was able to generate profit from investment of PKR 571 Mn in the back of its equity investments. Going forward, they expect this strategy to continue albeit with a less aggressive approach. They were of the belief that equity markets will continue to perform against a backdrop of fiscal consolidation with opportunities also being available in money markets due to a declining interest rate environment.
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