Trust Bank’s profit grows 3% in Q3 

Trust Bank's profit for the third quarter rose marginally on the back of investment income, while a rise in deposits helped the bank maintain a positive cash flow. 

Trust Bank reported a net profit of Tk 123.04 crore for the July-September quarter, reflecting a 3 percent year-on-year increase.

Earnings per share (EPS) rose slightly to Tk 1.33 from Tk 1.29 in the same period last year, according to its unaudited financial statements.

The commercial lender attributed the EPS growth to a rise in net profit after tax, despite higher provisions for loans, advances, and income tax requirements.

Trust Bank's consolidated net cash flow per share (NOCFPS) climbed to Tk 24.6 for the January-September period, which the bank credited to increased customer deposits relative to loan disbursements. 

Net interest income rose to Tk 641.78 crore, up from Tk 616.77 crore a year earlier, boosted by a higher volume of loans and improved rates of return, as per the financial statements. 

Investment income also saw substantial growth, reaching Tk 609.28 crore in the first nine months of the year, compared to Tk 437.44 crore in the same period last year. 

The bank credited this surge to increased investments in treasury bills.

Shares of Trust Bank declined 0.84 percent to Tk 23.5 at the Dhaka Stock Exchange today.