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<SEC-DOCUMENT>0000016859-03-000073.txt : 20030826
<SEC-HEADER>0000016859-03-000073.hdr.sgml : 20030826
<ACCEPTANCE-DATETIME>20030826135018
ACCESSION NUMBER:		0000016859-03-000073
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030826
FILED AS OF DATE:		20030826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFC BANCORP LTD
		CENTRAL INDEX KEY:			0000016859
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				131818111
		STATE OF INCORPORATION:			B0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04192
		FILM NUMBER:		03866125

	BUSINESS ADDRESS:	
		STREET 1:		FLOOR 21, MILLENIUM TOWER
		STREET 2:		HANDELSKAI 94-96
		CITY:			A-1200 VIENNA
		STATE:			C4
		BUSINESS PHONE:		43 1 240 25 300

	MAIL ADDRESS:	
		STREET 1:		FLOOR 21, MILLENIUM TOWER
		STREET 2:		HANDELSKAI 94-96
		CITY:			A-1200 VIENNA
		STATE:			C4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARBATAX INTERNATIONAL INC
		DATE OF NAME CHANGE:	19960603

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NALCAP HOLDINGS INC
		DATE OF NAME CHANGE:	19950725

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JAVELIN INTERNATIONAL LTD
		DATE OF NAME CHANGE:	19871118
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>doc1.txt
<TEXT>

================================================================================

                    U.S. SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON D.C. 20549


                                    FORM 6-K


                        REPORT OF FOREIGN PRIVATE ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                      THE SECURITIES EXCHANGE ACT OF 1934


                          For the Month of AUGUST 2003


                                MFC BANCORP LTD.
             (Exact Name of Registrant as specified in its charter)

      FLOOR 21, MILLENNIUM TOWER, HANDELSKAI 94-96, A-1200, VIENNA, AUSTRIA
                              011 (43) 1 24025 102
              (Address and telephone number of Registrant's office)

Indicate  by check mark whether the Registrant files or will file annual reports
under  cover  of  Form  20-F  or  Form  40-F.

                      [X]  Form 20-F         [ ]  Form 40-F
                       -                      -

Indicate  by check mark if the Registrant is submitting the Form 6-K in paper as
permitted  by  Regulation  S-T  Rule  101(b)(1):
                                                -----

Indicate  by check mark if the Registrant is submitting the Form 6-K in paper as
permitted  by  Regulation  S-T  Rule  101(b)(7):
                                                -----

Indicate  by  check mark whether by furnishing the information contained in this
Form,  the  Registrant  is  also  thereby  furnishing  the  information  to  the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                           Yes             No  X
                               ---            ---

If "Yes" is marked, indicate below the file number assigned to the Registrant in
connection  with  Rule  12g3-2(b):  82-               .
                                       ---------------

================================================================================


<PAGE>

                                                             [GRAPHIC  OMITED]
                                                               NEWS  RELEASE


FOR  IMMEDIATE  RELEASE  AUGUST  25,  2003
- ------------------------------------------


Contact:     Allen  &  Caron  Inc.               Rene  Randall
             Joe Allen (investors)               (604)  683-8286
             (212) 691-8087                      rrandall@bmgmt.com
             joe@allencaron.com
                    or
             Kari Paskewicz (media)
             (630)  759-9640
             kari@allencaron.com


                       MFC BANCORP LTD. REPORTS INCREASED
                          2003 SECOND QUARTER RESULTS

NEW  YORK  CITY,  (August  25,  2003)  - - - MFC Bancorp Ltd. (Nasdaq: MXBIF and
Frankfurt  Stock Exchange: MFC GR), reported today its financial results for the
second  quarter  and  six  months  ended  June  30,  2003. All figures are in US
dollars.

For the first six months ended June 30, 2003, total revenues increased to $133.1
million  compared  with  $70.9  million in the previous year. Net income for the
first  six  months  of  2003 increased to $14.7 million, or $1.10 per share on a
diluted  basis,  compared  with  $13.2  million, or $0.96 per share on a diluted
basis  in  the  prior  year.

Revenues  for  the  second  quarter 2003 increased to $71.9 million, compared to
$35.1  million in the second quarter of 2002.  Net income for the second quarter
2003  also  increased  to  $7.5  million, or $0.55 per share on a diluted basis,
compared  with  $6.6  million, or $0.48 per share on a diluted basis in the same
quarter  last  year.

                                    - MORE -


<PAGE>


MFC  BANCORP  LTD.  REPORTS  INCREASED  2003  SECOND  QUARTER  RESULTS
Page  -2-

Commenting  on  the  second  quarter  results,  Michael  Smith, President of MFC
Bancorp  Ltd., said "The increase in revenues during the first six months of the
year  was  primarily  due to the integration of our trading business. We are
looking  toward  to  rationalizing our acquisitions and continued growth through
the  balance  of  the  year."


ABOUT  MFC  BANCORP


MFC Bancorp Ltd. owns companies that operate in the financial services industry,
specializing  in merchant banking internationally. To obtain further information
on  the  Company,  please  visit  our  web  site  at  http://www.mfcbancorp.com.
                                                      -------------------------

Certain  statements included herein are "forward-looking statements'" as defined
by  the  Private  Securities  Litigation Reform Act of 1995. Management cautions
that forward-looking statements are not guarantees and that actual results could
differ  materially  from  those  expressed  or  implied  in  the forward-looking
statements.  Important factors that could cause the actual results of operations
or financial condition of the Company to differ include, but are not necessarily
limited  to,  the  risks  and  uncertainties discussed in documents filed by the
Company  with  the  Securities  and  Exchange  Commission.


                            -FINANCIAL TABLES FOLLOW-


<PAGE>


MFC  BANCORP  LTD.  REPORTS  INCREASED  2003  SECOND  QUARTER  RESULTS
Page  -3-


                                MFC BANCORP LTD.
                          CONSOLIDATED BALANCE SHEETS
                    AS OF JUNE 30, 2003 AND DECEMBER 31, 2002
                                  (unaudited)
                    (amounts in U.S. dollars; in thousands)


<TABLE>
<CAPTION>



                                         2003       2002
                                       --------   --------

ASSETS

<S>                                    <C>        <C>
Cash and cash equivalents              $ 57,477   $ 64,835
Securities                               40,993     39,661
Loans                                    60,373     49,303
Receivables                              52,520     34,157
Commodity investment                     13,409      8,338
Property held for sale                   46,144     46,188
Resource property                        26,855     23,263
Goodwill                                 11,661     10,390
Equity method investment                  5,842      5,012
Prepaid and other                         1,304      1,565
                                       --------   --------
                                       $316,578   $282,712
                                       ========   ========

LIABILITIES

Accounts payable and accrued expenses  $ 25,348   $ 29,931
Debt                                     60,655     43,554
Future income tax liability                  76        163
Deposits                                 25,198     24,815
                                       --------   --------
                                        111,277     98,463

Minority interests                        4,273      3,641

SHAREHOLDERS' EQUITY

Common stock                             53,111     44,485
Cumulative translation adjustment       (11,628)    11,859
Retained earnings                       159,545    124,264
                                       --------   --------
                                        201,028    180,608
                                       --------   --------
                                       $316,578   $282,712
                                       ========   ========

</TABLE>


                                    - MORE -


<PAGE>


MFC  BANCORP  LTD.  REPORTS  INCREASED  2003  SECOND  QUARTER  RESULTS
Page  -4-


                                MFC BANCORP LTD.
                        CONSOLIDATED STATEMENTS OF INCOME
                FOR THE THREE MONTHS ENDED JUNE 30, 2003 AND 2002
                                  (unaudited)
          (amounts in U.S. dollars; in thousand, except per share data)


<TABLE>
<CAPTION>

                                               2003       2002
                                             --------   --------
<S>                                          <C>        <C>
Financial services revenue                   $ 71,938   $ 35,138
Expenses
     Financial services                        60,941     23,689
     General and administrative                 2,749      4,672
     Interest                                     730      1,197
                                             --------   --------
        Total expenses                         64,420     29,558
                                             --------   --------

Income before income taxes                      7,518      5,580
Income taxes recovery                              21      1,040
                                             --------   --------

                                                7,539      6,620
Minority interests                                (67)        (3)
                                             --------   --------
Net income                                   $  7,472   $  6,617
                                             ========   ========

Earnings per share
     Basic                                   $   0.58   $   0.50
     Diluted                                 $   0.55   $   0.48

Weighted average shares outstanding (000's)
     Basic                                     12,928     13,189
     Diluted                                   14,060     14,506

</TABLE>


                                    - MORE -


<PAGE>


MFC  BANCORP  LTD.  REPORTS  INCREASED  2003  SECOND  QUARTER  RESULTS
Page  -5-


                                MFC BANCORP LTD.
                        CONSOLIDATED STATEMENTS OF INCOME
                FOR THE SIX MONTHS ENDED JUNE 30, 2003 AND 2002
                                  (unaudited)
          (amounts in U.S. dollars in thousand, except per share data)


<TABLE>
<CAPTION>


                                               2003       2002
                                             --------   --------
<S>                                          <C>        <C>
Financial services revenue                   $133,081   $ 70,848
Expenses
     Financial services                       111,118     46,236
     General and administrative                 5,907     10,166
     Interest                                   1,347      2,253
                                             --------   --------
        Total expenses                        118,372     58,655
                                             --------   --------

Income before income taxes                     14,709     12,193
Income taxes recovery                              55        994
                                             --------   --------
                                               14,764     13,187
Minority interests                                (49)         7
                                             --------   --------
Net income                                   $ 14,715   $ 13,194
                                             ========   ========

Earnings per share
     Basic                                   $   1.14   $   1.01
     Diluted                                 $   1.10   $   0.96

Weighted average shares outstanding (000's)
     Basic                                     12,880     13,027
     Diluted                                   14,003     14,371

</TABLE>


                                    # # # #


<PAGE>


                                   SIGNATURES


Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned,  thereunto  duly  authorized.


Registrant  MFC  BANCORP  LTD.
            ------------------

By          /s/  Michael J. Smith
            ---------------------
            Michael J. Smith
            President

Date        August  26,  2003
            ------------------



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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