Pubali Bank’s profit surges 43% in Jan-Sep

Pubali Bank PLC's profit rose 43 percent year-on-year to Tk 876.87 crore in the first nine months of 2024.

The bank's consolidated earnings per share (EPS) rose to Tk 7.58 during the January-September period of 2024, compared to last year same period's Tk 5.30, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

The positive result helped rally its share, soaring 9.64 percent to Tk 27.30 today on the DSE floor.  

"EPS increased mainly due to an increase in investment income, commission, exchange, and brokerage, as well as net interest income," the bank stated.

Pubali Bank also recorded a strong performance in its consolidated net operating cash flow per share, which jumped to Tk 7.30 during the period. 

The state-owned lender attributed this improvement to a substantial increase in interest income, fees and commission, investment income, and robust deposit collection from customers.

Additionally, the bank's net asset value saw growth, buoyed by a rise in retained earnings, paid-up capital, statutory reserve, and revaluation reserve on government securities.

Established in 1959, Pubali Bank has evolved into Bangladesh's largest private commercial bank, boasting 504 branches, 203 sub-branches, and 25 Islamic banking windows, as per its website.