City Bank posts Tk 477.84 crore profit in 2022

The City Bank Ltd made a profit of Tk 477.84 crore in the last financial year of 2022, down 13.10 per cent year-on-year.

Its profit stood at Tk 549.88 crore in 2021.

Thus, the private commercial bank reported consolidated earnings per share of Tk 3.98 in 2022 compared to Tk 4.58 (restated) in 2021.

A restatement is an act of revising one or more of a company's previous financial statements to correct an error.

The consolidated net asset value per share of City Bank rose to Tk 28.21 in 2022 from Tk 27.27 (restated) in 2021 while the consolidated net operating cash flow per share slipped to Tk 11.65 from Tk 11.80 (restated) during the period.

Its board of directors has recommended a 10 per cent cash and a 2 per cent stock dividend for the year that ended on December 31, according to a filing on the Dhaka Stock Exchange today.