Jamuna Bank has secured a 23 percent year-on-year rise in profit in the first three months of this year thanks to an increase in incomes from net interest, investment and commission.

In unaudited quarterly financial statements released recently, the bank reported a profit of Tk 164.23 crore for the January-March period, up from Tk 133.62 crore in the same quarter of last year.

This resulted in consolidated earnings per share of Tk 2.02 in the first quarter of 2024, up from Tk 1.64 in the first three months of 2023.

Similarly, the bank's net operating cash flow per share hit Tk 31.32 in January-March of 2024, up from Tk 24.28 in the same period previous year thanks to an increase in operational activities and deposits.

The bank also said its net asset value had increased for the growth of retained earnings.

In another development, the board of directors of Jamuna Bank has decided to issue "Jamuna Bank Short Note", a non-convertible, redeemable, unsecured and tradable short-term bond with maturities of 91 days, 182 days and 364 days.

The bank plans to issue the bond, subject to approvals from the relevant authorities, to raise Tk 500 crore for business growth and to diversify its products.