Rupali Bank’s profit slumped 82% in 2024

Rupali Bank PLC's profit plummeted in 2024 due to declining operating income.

The state-owned bank's profit dropped 82 percent year-on-year to Tk 11.22 crore in 2024.

The bank reported consolidated earnings per share (EPS) of Tk 0.23 for the year ending on December 31, 2024, down from Tk 1.28 (restated) a year earlier, according to a price-sensitive information disclosure.

The bank attributed the decline in EPS to a fall in total operating income. Its consolidated net operating cash flow per share (NOCFPS) stood at negative Tk 8.06 for 2024, sharply down from positive Tk 105.06 (restated) the previous year.

The fall in NOCFPS was due to a rise in loans and advances, the bank said. The board of directors has recommended no dividend for the year ended December 31, 2024, while it issued a 5 percent stock dividend in the previous year.

In a separate disclosure, the bank reported consolidated EPS of Tk 0.13 for the January-March quarter of 2025, down from Tk 0.47 (restated) in the same quarter of 2024.

The year-on-year fall was again attributed to lower operating income by the bank.

Its consolidated NOCFPS improved to positive Tk 6.62 for the first quarter of 2025, compared to negative Tk 23.07 (restated) during the same period a year ago.

The bank said the improvement was driven by an increase in deposits.

As of April 30, 2025, the government held 90.19 percent of the bank's shares, while institutions owned 3.41 percent and the public 6.40 percent, according to Dhaka Stock Exchange data.