Performance Assessment

Rs. In Million

MCB
Turnover
Profit After Tax
Inflation
Share Price of MCB
Average Price of Sector
Stock Mkt Index
Equity Beta (β)
Risk Free Rate

2006
25,778
12,142
9.10
246.10
68.56
10,040

2007
31,787
15,266
7.90
399.95
82.17
14,077

2008
40,044
15,375
7.60
125.81
25.64
5,885

2009
51,616
15,495
20.30 http://www.indexmundi.com/pakistan/inflation_rate_(consumer_prices).html
219.68
37.24
9,386 http://www.zhvsec.com/kseindex-history.aspx
1.31
14.25%

CALCULATION of Beta
MCB
Date
2006-2007
2007-2008
2008-2009

rj
62.52
-68.54
74.61
22.86

Σ

Σmk-nM K

β=
Where

rm
rf M = rm - rf K = rj - rf M × K
M2
19.86 14.25
5.61
48.27
270.94
31.51
-68.80 14.25
-83.05
-82.79
6875.89
6897.06
45.24 14.25
30.99
60.36
1870.85
960.60
-1.23
-46.44 25.83
9,017.68 7,889.18

ΣM2 - n(M)2
n
Σk
Σm2
K

3.00 Σm
25.83 Σmk
7889.18 M
8.61

β=

9,417.60
7,170.24

=

1.31

-46.44
9017.68
-15.48

Performance Assesment of MCB
Index Trend Model (pn /po) ×
100
Variables

2006

2007

2008

2009

Turnover
Profit After Tax
Inflation
Share Price of MCB
Average Price of Sector
Stock Mkt Index

100.00
100.00
100.00
100.00
100.00
100.00

123.31 155.34 200.23
125.73 126.63 127.61
86.81 83.52 223.08
162.52 51.12 89.26
119.86 37.40 54.32
140.21 58.62 93.49

Growth Index Trend
(cl-op) / op × 100
2006-07
23.31
25.73
-13.19
62.52
19.86
40.21

2007-08
25.98
0.71
-3.80
-68.54
-68.80
-58.19

2008-09

Alpha
Co.

rf

28.90 MCB 14.25
0.78
167.11
74.61
45.24
59.49

Exp.
Return
-1.23

CAPM Alpha
-6.08

4.85

CAPM = rf + β(rm - rf)
CAPM =

-6.08

rm =

-1.23

rj =

22.86

RFDI = rj - rf
β
7 Times
RFDI =

Decesion

Status

Acceptable Reject

8

9
20
0

20
0

20
0

20
0

20
0

0.00
7

0.00

6

50.00

9

50.00

8

100.00

07

100.00

20

Turnover
Inflation

150.00

08
-0
9

60
20
0

200.00

20
0

Turnover
Profit After
Tax

150.00

6

80

20

20
0

20
0

200.00

20
0

20
0

60

9
80

8
20
0

70

7
20
0

250.00

20

-100.00
7

-50.00
9

-50.00

07
-0
8

0.00

(Turnover & Inflation)

250.00

0.00

708

50.00

Share Price of
MCB
Stock Mkt
Index

50.00

20
0

Turnover
Inflation

100.00

7

Turnover
Profit After
Tax

100.00

150.00

(Turnover & EAT)
Index Trend Model

(Share Price & Stock Market Index)

200.00

35.00
30.00
25.00
20.00
15.00
10.00
5.00
0.00
60

Growth Index Trend Model

(Turnover & Inflation)

(Turnover & EAT)

09

Market Index)

Share Price of
MCB
Stock Mkt
Index

SY
M
BO

L

Closing Price
2006

2007

2008

2009

ABL
ACBL
ATBL
BAFL
BAHL
BIPL
BOK
BOP
CCBL
FABL
HMB
KASBB
MCB
MEBL
MYBL
NBP
NIB
SNBL
SPCB
UBL
Average

93.50
104.95
14.60
41.80
68.50
10.30
15.75
101.25
15.10
60.50
72.00
16.25
246.10
19.55
24.20
224.25
24.40
47.65
16.95
153.50
68.56

130.15
99.50
17.00
53.70
77.20
16.20
15.50
97.80
20.95
65.95
70.95
20.20
399.95
38.50
23.95
232.15
21.85
43.40
25.65
172.90
82.17

31.32
14.57
3.32
16.73
24.87
7.25
6.41
13.20
11.51
74.86
26.33
18.56
125.81
21.48
50.32
4.67
8.65
11.00
5.01
36.91
25.64

58.73
27.30
3.44
13.77
32.76
5.87
4.91
19.50
17.53
123.44
31.15
7.49
219.68
15.74
74.37
4.80
8.95
11.07
5.83
58.45
37.24

Banks & Symbol
SYMBOL

COMPANY

 ABL

Allied Bank Ltd.

 AKBL

Askari Bank

 ATBL

Atlas Bank Ltd

 BAFL

Bank Al-Falah

 BAHL

Bank AL-Habib

 BIPL

Bankislami Pakistan

 BOK

Bank Of Khyber

 BOP

B.O.Punjab

 FABL

Faysal Bank XB

 FCIBL

F.Credit & Inv

 HBL

Habib Bank Ltd.

 HMB

Habib Metro Bank

 JSBL

JS Bank Ltd

 KASBB

KASB Bank Ltd.

 MCB

MCB Bank Ltd.XD

 MEBL

Meezan Bank Ltd.

 MYBL

Mybank

 NBP

National Bank

 NIB

NIB Bank

 NMBL

Network Mic Bank

 RBS

Royal Bank

 SBL

Samba Bank

 SCBPL

Stand.Chart.Bank

 SILK

SilkBank Limited

 SMBL

Summit Bank Ltd

 SNBL

Soneri Bank Limited

 UBL

United Bank Ltd.

KSE Index History Report
Date
Open
12/29/2006 10,058
12/31/2007 14,772
12/31/2008 6,037
12/31/2009 9,507

High
10,105
14,772
6,037
9,525

Low
10,028
14,061
5,885
9,354

Close Change
10,040
-17.00
14,077 -694.00
5,885 -138.00
9,386 -121.00

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