Jamuna Bank’s profit surges 37% in Q3

Jamuna Bank PLC posted a profit of Tk 105.84 crore for the July-September quarter, which is a 37 percent year-on-year increase.

The bank's consolidated earnings per share (EPS) increased to Tk 1.20 in the period, from Tk 0.87 a year ago. 

The bank attributed the rise in EPS to higher investment income, commission, exchange, brokerage, and net interest income, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

Consolidated net operating cash flow per share (NOCFPS) increased significantly, climbing to Tk 61.37 for January-September 2024 from Tk 11.27 during the same period last year. 

The private commercial lender attributed the NOCFPS rise to a significant increase in deposits and borrowings, coupled with gains in interest income, fees, and commissions.

Jamuna Bank also reported an increase in net asset value per share, which benefited from higher retained earnings, paid-up capital, statutory reserves, and a revaluation of government securities.

Despite the positive earnings, shares of the private lender dipped 0.57 percent to Tk 17.7 as of 12:04 pm today on the DSE. 

Established in 2001, Jamuna Bank operates 167 branches and 110 sub-branches nationwide, alongside its expanding network of ATMs, agent outlets, and collection booths.