Southeast Bank’s profit declines 36% in first quarter 

Southeast Bank made a profit of Tk 92.15 crore in the first quarter of 2024, a decrease of 36 percent year-on-year. 

The private commercial lender reported a profit of Tk 147 crore in the identical period last year. 

Therefore, the bank's earnings per share (EPS) nosedived to Tk 0.72 in 2024 from Tk 1.14 in 2023, according to its unaudited financial statements. 

"The EPS decreased due to an increase of provisions against loans and the diminution in value of investments," said Southeast Bank. 

The bank also suffered a massive decline in its net operating cash flow per share (NOCFPS), shedding 66 percent to Tk 5.66 from Tk 16.97. It attributed an increase in the disbursement of loans, and the fall in borrowing from other banks to the decrease. 

The net asset value per share slid marginally to Tk 25.56 from Tk 26.05. 
Established in 1995, Southeast Bank currently runs its operations through 135 branches, two offshore banking units, 22 sub-branches, and more than 175 ATM booths.