Shahjalal Islami Bank PLC recorded a 22 percent increase in profit to Tk 117.54 crore in the July-September quarter of 2024 driven by rising investment and commission incomes.

This was up from Tk 96.24 crore in the same period a year earlier, according to its unaudited financial report.

However, the cash flow of the Shariah-based lender fell amid increased investments in customer assets.

The performance pushed the bank's consolidated earnings per share to Tk 1.06 for the third quarter (Q3), compared to Tk 0.86 in the same period of the corresponding year.

The bank attributed the profit rise to increased net investment income and higher income from commission, exchange, brokerage and investments in securities.

The third quarter earnings resulted in a total profit of Tk 406.41 crore for the January-September period for the bank.

However, consolidated net operating cash flows per share showed a decline, dropping to Tk 7.84 in the first nine months from Tk 11.92 the previous year.

The bank explained that the reduction was made due to increased investments in customer assets and other operational assets.

Shares of the bank were up 0.56 percent to Tk 17.80 at the Dhaka Stock Exchange today.

Founded in 2001, Shahjalal Islami Bank runs its countrywide operations under Islamic Shariah principles with the help of 140 branches, 4 sub-branches, 2 priority banking centres, 132 ATMs and one offshore banking unit.